Global In-Wheel Motors Market, By Product Type, End User & By Region - Forecast and Analysis 2022-2027

The global in-wheel motors market was valued at USD 6,606.60 Million in 2021, and it is expected to reach a value of USD 45,234.85 Million by 2027, at a CAGR of more than 37.80% over the forecast period (2022 - 2027). Electrification is becoming a major trend in numerous economies throughout the world. The increasing emission levels of Co2 in various countries have been a matter of concern for governments of developed and emerging countries. Many countries have passed stringent emission regulations such as the European stage VI standards, and the T4F in the US. This has led to automakers shifting to electric vehicles. Also, the governments are providing incentives and subsidies to encourage in-wheel motors sales. The Electric Vehicles Initiative (EVI), which is a multi-government policy forum will accelerate the adoption of in-wheel motors worldwide. They have set a target of reaching an electric car fleet of 20 million by 2020 globally. The Paris Declaration on Electro-Mobility and Climate Change has also set a similar global deployment target of 100 million electric cars by 2030.



The use of renewable energy to power in-wheel motor charging stations is one of the key opportunities for players in the in-wheel motors market. The key market actors are rapidly evolving newer technologies in the electric vehicle market to generate more revenues. This renewable energy technology is evolving due to the lower price and easier installation of solar panels, solar-powered charging stations have become ideal for homeowners or commercial buildings. These charging stations can be installed at residential buildings, shopping malls, theatre complexes, convention centers, parks, and other facilities.

The report provides market sizing and forecast across five major regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). In this report, the year 2016 to 2020 is considered a historical year, 2021 is the base year, 2022 is the estimated year, and years from 2022 to 2027 are considered the forecast period.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global in-wheel motors market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Aspects covered in this report

• Based on product type, this market is segmented into inner rotor type and outer rotor type.
• Based on end-user, this market is segmented into the auto industry and industrial equipment.
• Based on region, this market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA).

Players in this market adopted various strategies to expand their global footprint and augment their market share. The key strategies followed by most companies in the global in-wheel motors market were agreements and collaborations, mergers and acquisitions, and expansion. The major players operating in this market include Protean Electric, ZIEHL-ABEGG, LeTourneau Technologies, Printed Motor Works, Elaphe Ltd, E-Traction B.V, TM4, and others.