In-wheel Motor Market Expected to Reach $12.04 Billion by 2031

According to a recent report published by Allied Market Research, titled, "in-wheel motor market by propulsion type, vehicle type, vehicle class, cooling type, power output type and weight: global opportunity analysis and industry forecast, 2021-2030," the global in-wheel motors market was valued at $577.20 million in 2020, and is projected to reach $12,041.50 million by 2030, registering a CAGR of 35.8% from 2021 to 2030.

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 The key players operating in the global In-wheel Motor market includes Ecomove GmbH, Elaphe Ltd., e-Traction B.V., Lordstown Motors, MW Motors, NSK, NTN Corporation, Schaeffler AG, Nissan Motor Company, LTD., and Ziehl-Abegg SE.

The global in-wheel motor market is segmented into propulsion type, vehicle type, vehicle class, cooling type, power output type, weight, and region. By propulsion type, the global market has been segmented into battery electric vehicles (BEV), hybrid electric vehicles (HEV) and plug-in hybrid electric vehicles (PHEV). By vehicle type, the global market has been segmented into passenger cars and commercial vehicles. By vehicle class, it is segmented into mid-priced and luxury. By cooling type, it has segmented into air cooling and liquid cooling. By power output type, it is segmented into up to 60 KW, 60-90 KW, and above 90 KW. By weight, it is divided into less than 20 kg, 20 kg to 30 kg and more than 31 kg. By region, the global market has been segmented into North America, Europe, Asia-Pacific, and LAMEA.

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 Key Findings Of The Study

By propulsion type, the battery electric vehicles segment is expected to register a significant growth during the forecast period.
Depending on vehicle type, the commercial vehicle segment is anticipated to exhibit significant growth in the future.
By vehicle class, the luxury segment is anticipated to exhibit significant growth in the future
By cooling type, the air cooling segment is anticipated to exhibit significant growth in the future
By power output type, the above 90 KW segment is anticipated to exhibit significant growth in the future
By weight, the 20 kg to 30 kg segment is anticipated to exhibit significant growth in the future
LAMEA is anticipated to register the highest CAGR.

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