In-wheel Motor is primarily a kind of EV drive system and is used for improving the performance of electric vehicles. Here, motors are mounted directly on the wheels to power the wheel by directly supplying the torque to the respective tires. This type of motor reduces the weight and improves the efficiency of the vehicle. Demand for in-wheel motors is expected to rise significantly during the forecast period.
MARKET SCOPE
The "Global In-Wheel Motor Market Analysis to 2028" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of the in-wheel motor market with detailed market segmentation by type, cooling method, type of electric vehicle, power output and geography. The report provides key statistics on the market status of the leading in-wheel motor market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
? Based on type, the global in-wheel motor market is segmented into radial flux and axial flux.
? On the basis of cooling method, the market is segmented into liquid and air.
? Based on type of electric vehicle, the market is bifurcated into battery electric vehicle, hybrid electric vehicle, plug-in hybrid electric vehicle and fuel cell electric vehicle.
? On the basis of power output, the market is segmented into up to 60 KW, 60-90 KW and above 90 KW.
MARKET DYNAMICS
Drivers:
? Government?s encouragement in form of subsidies and tax exemptions.
? Inclination towards clean technology
Restraints
? High manufacturing cost involved.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The in-wheel motor market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the in-wheel motor market in these regions.
IMPACT OF COVID-19 ON IN-WHEEL MOTOR MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Due to outbreak of this pandemic, movement of people is reduced. This has severely affected the automobile industry and demand for new vehicles is reduced considerably. Considering this, in-wheel motor market has observed a decline in its production. However, once the situation gets back to normal, this market seems to see a lucrative future ahead.
MARKET PLAYERS
The report covers key developments in the in-wheel motor market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from in-wheel motor market are anticipated to lucrative growth opportunities in the future with the rising demand for in-wheel motor in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the in-wheel motor market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
? ECOmove GmbH
? Elaphe Ltd.
? e-Traction B.V
? MW Motors
? Lordstown Motors
? Protean Electric
? Schaeffler AG
? TM4
? The Nissan Motor Company, Ltd.
? Ziehl-Abegg SE
The Insight Partner?s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.