In-Wheel Motor Market to Grow with a CAGR of 6.80% through 2029

Rapid Growth in Electric Vehicle Adoption, Advancements in In-Wheel Motor Technology, and Technological Advancements and Connectivity Solutions are factors driving the Global In-Wheel Motor market in the forecast period.

 According to TechSci Research report, “In-Wheel Motor Market - Global  Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, Global In-Wheel Motor Market was valued at USD 3.11 Billion in 2023 and is expected to reach USD 4.60 Billion by 2029 with a CAGR of 6.80% during the forecast period. Electric motors known as in-wheel motors are mounted within the wheels of electric cars and are designed to provide increased performance by providing direct power to the wheels. When in-wheel motor systems were introduced, independent motors were mounted on the wheels of vehicles and oversaw each individual operation, as opposed to conventional electric vehicles, which had a single motor powering every wheel. A car's in-wheel motor, which is positioned around the wheel, powers the wheel directly and provides a responsive accelerator. Additionally, the addition of in-wheel motors to electric cars improves driving alignment and makes it more enjoyable and natural. The global in-wheel motor market is expected to grow in part due to factors like the growing demand for safety and convenience features, the rise in demand for electric vehicles, and the strict safety regulations imposed by governments on the automotive industry.

The Global In-Wheel Motor market is experiencing a paradigm shift as the automotive industry undergoes a transformative phase of electrification and sustainable mobility. In-wheel motors, also known as hub motors, have emerged as a revolutionary technology, reshaping the way vehicles are powered and propelled. At the heart of the in-wheel motor concept lies a fundamental departure from traditional drivetrain architectures. In-wheel motors integrate the electric motor, power electronics, and control systems directly into the wheel hub, eliminating the need for a centralized drivetrain. This innovative design not only simplifies the vehicle's mechanical structure but also offers advantages in terms of efficiency, vehicle dynamics, and design flexibility. As the automotive industry pivots towards electric and hybrid vehicles, in-wheel motors have gained prominence as a key enabler of this electrification journey.

Technological advancements form a cornerstone of the Global In-Wheel Motor market, driving innovation and shaping the competitive landscape. The integration of power electronics directly into the in-wheel motor unit represents a significant leap, optimizing the efficiency of the electric drivetrain. Advanced materials and manufacturing processes contribute to the continuous improvement of in-wheel motor technology, addressing challenges related to power density, thermal management, and overall performance. This technological evolution is not only instrumental in enhancing the capabilities of in-wheel motors but also in making them more adaptable to a diverse range of vehicles. The rise of electric and hybrid vehicles stands as a pivotal trend propelling the Global In-Wheel Motor market. Electric vehicles (EVs) and hybrid electric vehicles (HEVs) leverage in-wheel motors to simplify the drivetrain and enhance overall efficiency. The advantages of in-wheel motors, such as improved vehicle dynamics and torque vectoring, make them an attractive choice for electric propulsion systems. As the automotive industry embraces a cleaner and more sustainable future, in-wheel motors play a crucial role in meeting the demands of consumers seeking environmentally friendly and technologically advanced mobility solutions.

Alongside the promising trends, the Global In-Wheel Motor market faces a spectrum of challenges. Technological complexities and integration challenges pose hurdles in designing compact, lightweight, and efficient in-wheel motor units that seamlessly integrate with diverse vehicle architectures. The weight and unsprung mass challenges associated with in-wheel motors impact vehicle dynamics and ride comfort, necessitating careful engineering solutions. Cost considerations loom large in the competitive landscape, as manufacturers strive to deliver cost-effective in-wheel motor solutions amidst intense competition and a push for affordable electric vehicles.

Navigating a complex regulatory landscape is another challenge for the Global In-Wheel Motor market. Compliance with safety and environmental regulations, varying across different regions, demands meticulous attention to testing and certification processes. The absence of standardized norms specific to in-wheel motors adds complexity, requiring manufacturers to actively engage with regulatory bodies to shape industry standards. Additionally, limited market penetration and consumer awareness present challenges as in-wheel motors seek broader acceptance and recognition in the automotive market.

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In-Wheel Motor Market is segmented by vehicle type, propulsion type, motor Type and Region.

Based on propulsion type, Battery Electric Vehicles (BEVs) are increasingly dominant in the in-wheel motor market due to their ability to leverage the unique advantages of this technology. In-wheel motors integrate directly into the hub of each wheel, which simplifies vehicle design by eliminating the need for traditional drivetrain components like axles and differentials. This integration not only reduces weight but also improves space utilization within the vehicle chassis. BEVs equipped with in-wheel motors benefit from enhanced maneuverability and stability. The ability to independently control each wheel allows for advanced torque vectoring, which optimizes power delivery to improve handling and traction. Moreover, in-wheel motors facilitate regenerative braking directly at the wheel, capturing kinetic energy during braking and feeding it back into the battery, thereby improving overall energy efficiency. In-wheel motors contribute to a more responsive driving experience due to their quick response times and precise control over each wheel's movement. This capability is particularly advantageous in urban environments where tight turns and stop-and-go traffic demand agile vehicle performance. The compactness, efficiency, and performance enhancements provided by in-wheel motors make them a compelling choice for BEVs seeking to optimize both electric range and driving dynamics in the evolving landscape of electric mobility.

Major companies operating in Global In-Wheel Motor Market are:

• Protean Electric Limited
• NTN Corporation
• NSK Ltd
• PMW Dynamics Limited
• Elaphe Propulsion Technologies Ltd
• ZIEHL-ABEGG SE
• e-Traction B.V
• DANA TM4 INC
• Mercedes-Benz AG (YASA Limited)
• Schaeffler AG

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 “The Global In-Wheel Motor market is a pioneering force in the automotive industry, revolutionizing vehicle propulsion. Integrating electric motors directly into wheel hubs, in-wheel motors enhance efficiency, vehicle dynamics, and design flexibility. As a key enabler of electrification, they contribute to the rise of electric and hybrid vehicles. Despite technological advancements, challenges like integration complexities and weight considerations persist. However, the market's potential remains vast, with continuous research driving innovation. As the industry navigates toward sustainability, the Global In-Wheel Motor market stands as a beacon of transformative technology, reshaping the future of automotive propulsion with its compact and efficient design.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“In-Wheel Motor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Vehicle Type (Passenger Cars, Commercial Vehicles), By Propulsion Type (Battery Electric Vehicle (BEV), Plug-in Hybrid Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)), By Motor Type (Radial, Axial), By Region & Competition, 2019-2029F”, has evaluated the future growth potential of Global In-Wheel Motor Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global In-Wheel Motor Market.

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