Market Overview

The automotive industry has witnessed significant changes over the years with technological advancements being at the forefront. One of the most significant technological innovations is the introduction of In-Wheel Motors. In-wheel motors are electric motors that are integrated into the wheel of the vehicle. The in-wheel motor technology has seen immense growth in the automotive sector, and it is expected to continue experiencing significant growth in the future.

Meaning

In-Wheel Motors (IWM) are electric motors that are integrated into the wheel hub of the vehicle. They eliminate the need for a transmission, driveshaft, and differential by directly powering the wheels, thereby reducing the weight and complexity of the vehicle’s powertrain. In-wheel motors also offer improved torque vectoring, regenerative braking, and increased energy efficiency. These motors have gained significant traction in the automotive industry as they provide improved handling, increased driving range, and enhanced safety features.

Executive Summary

The Global Automotive In-Wheel Motors Market is expected to grow at a CAGR of 32.6% during the forecast period (2021-2028). The market size was valued at USD 355.9 million in 2020 and is expected to reach USD 2,553.3 million by 2028. The key factors driving the growth of the market are the increasing demand for electric vehicles (EVs), stringent emission norms, and the need for better driving experience and safety features. However, the high cost of in-wheel motors and the lack of infrastructure for EVs may hamper the market growth.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

The global automotive in-wheel motors market is segmented based on motor type, vehicle type, propulsion type, cooling type, and region. By motor type, the market is segmented into permanent magnet synchronous motor (PMSM) and brushless DC motor (BLDC). By vehicle type, the market is segmented into passenger cars, commercial vehicles, and others. By propulsion type, the market is segmented into rear-wheel drive, front-wheel drive, and all-wheel drive. By cooling type, the market is segmented into air-cooled and liquid-cooled.

Among the motor type segment, the permanent magnet synchronous motor (PMSM) is expected to hold the largest market share during the forecast period. The growth of PMSM is attributed to its high power-to-weight ratio, high energy efficiency, and low maintenance cost. Among the vehicle type segment, the passenger car segment is expected to hold the largest market share during the forecast period. The growth of the passenger car segment is attributed to the increasing demand for EVs and the need for better driving experience and safety features.

By propulsion type, the rear-wheel drive segment is expected to hold the largest market share during the forecast period. The growth of the rear-wheel drive segment is attributed to its better traction control and handling characteristics. By cooling type, the liquid-cooled segment is expected to hold the largest market share during the forecast period. The growth of the liquid-cooled segment is attributed to its better thermal management and higher energy efficiency.

Market Drivers

1. Increasing Demand for Electric Vehicles (EVs) The increasing demand for EVs is one of the major drivers of the global automotive in-wheel motors market. The rising concerns regarding air pollution and the need to reduce greenhouse gas emissions have led to a shift towards EVs. In-wheel motors provide improved energy efficiency, reduced weight, and increased driving range, making them an ideal choice for EVs.
2. Stringent Emission Norms The stringent emission norms implemented by various governments across the globe are driving the demand for in-wheel motors. In-wheel motors offer improved energy efficiency and reduced emissions, making them a viable solution for meeting the emission norms.
3. Need for Better Driving Experience and Safety Features The need for better driving experience and safety features is also driving the demand for in-wheel motors. In-wheel motors offer improved handling and traction control, providing a better driving experience. Additionally, they also offer regenerative braking, which improves the safety features of the vehicle.

Market Restraints

1. High Cost of In-Wheel Motors The high cost of in-wheel motors is one of the major restraints of the global automotive in-wheel motors market. The cost of in-wheel motors is significantly higher than traditional powertrains, which may deter consumers from purchasing vehicles equipped with in-wheel motors.
2. Lack of Infrastructure for EVs The lack of infrastructure for EVs is also a major restraint of the global automotive in-wheel motors market. The limited availability of charging stations and the long charging time may deter consumers from purchasing EVs equipped with in-wheel motors.

Market Opportunities

1. Increased Research and Development The increased research and development in the field of in-wheel motors offer significant opportunities for the global automotive in-wheel motors market. The development of lightweight and efficient in-wheel motors can help in reducing the overall weight of the vehicle, thereby improving the energy efficiency and driving range of the vehicle.
2. Growing Adoption of Autonomous Vehicles The growing adoption of autonomous vehicles offers significant opportunities for the global automotive in-wheel motors market. In-wheel motors offer improved handling and traction control, which are critical for autonomous vehicles.

Market Dynamics

The global automotive in-wheel motors market is highly competitive, with the presence of several established players. The market is characterized by rapid technological advancements and product innovations. The key players in the market are focusing on research and development to improve the performance and efficiency of in-wheel motors. Additionally, partnerships and collaborations between the key players and other stakeholders in the market are also contributing to the growth of the market.

Regional Analysis

The global automotive in-wheel motors market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is expected to hold the largest market share during the forecast period. The growth of the Asia Pacific region is attributed to the increasing demand for EVs and the stringent emission norms implemented by various governments in the region.

Competitive Landscape

Leading Companies in the Automotive In-Wheel Motors Market:

1. Protean Electric
2. Elaphe Propulsion Technologies Ltd.
3. Ziehl-Abegg Automotive GmbH & Co. KG
4. Nidec Corporation
5. Schaeffler AG
6. NSK Ltd.
7. BorgWarner Inc.
8. Continental AG
9. GKN Automotive Limited
10. Mahle GmbH

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global automotive in-wheel motors market is segmented based on motor type, vehicle type, propulsion type, cooling type, and region.

By Motor Type:

• Permanent Magnet Synchronous Motor (PMSM)
• Brushless DC Motor (BLDC)

By Vehicle Type:

• Passenger Cars
• Commercial Vehicles
• Others

By Propulsion Type:

• Rear-Wheel Drive
• Front-Wheel Drive
• All-Wheel Drive

By Cooling Type:

• Air-Cooled
• Liquid-Cooled

Category-wise Insights

1. Permanent Magnet Synchronous Motor (PMSM) The permanent magnet synchronous motor (PMSM) segment is expected to hold the largest market share during the forecast period. The growth of the PMSM segment is attributed to its high power-to-weight ratio, high energy efficiency, and low maintenance cost.
2. Passenger Cars The passenger car segment is expected to hold the largest market share during the forecast period. The growth of the passenger car segment is attributed to the increasing demand for EVs and the need for better driving experience and safety features.
3. Rear-Wheel Drive The rear-wheel drive segment is expected to hold the largest market share during the forecast period. The growth of the rear-wheel drive segment is attributed to its better traction control and handling

Key Benefits for Industry Participants and Stakeholders

The automotive in-wheel motors offer several benefits for the industry participants and stakeholders, such as:

1. Improved Energy Efficiency: The in-wheel motors provide improved energy efficiency as they directly power the wheels, eliminating the need for a transmission, driveshaft, and differential.
2. Reduced Weight and Complexity: The in-wheel motors reduce the weight and complexity of the vehicle’s powertrain by eliminating the need for several components.
3. Improved Handling and Traction Control: The in-wheel motors offer improved handling and traction control, providing a better driving experience.
4. Regenerative Braking: The in-wheel motors also offer regenerative braking, which improves the safety features of the vehicle.
5. Meeting Emission Norms: The in-wheel motors provide a viable solution for meeting the stringent emission norms implemented by various governments across the globe.

SWOT Analysis

Strengths:

• Improved energy efficiency
• Reduced weight and complexity
• Improved handling and traction control
• Regenerative braking
• Viable solution for meeting emission norms

Weaknesses:

• High cost of in-wheel motors
• Lack of infrastructure for EVs

Opportunities:

• Increased research and development
• Growing adoption of autonomous vehicles

Threats:

• Competition from established players
• Stringent government regulations

Market Key Trends

1. Integration of In-Wheel Motors with Autonomous Vehicles The integration of in-wheel motors with autonomous vehicles is one of the key trends in the global automotive in-wheel motors market. In-wheel motors provide improved handling and traction control, which are critical for autonomous vehicles.
2. Lightweight and Efficient In-Wheel Motors The development of lightweight and efficient in-wheel motors is another key trend in the global automotive in-wheel motors market. The lightweight and efficient in-wheel motors can help in reducing the overall weight of the vehicle, thereby improving the energy efficiency and driving range of the vehicle.

Covid-19 Impact

The Covid-19 pandemic has impacted the global automotive in-wheel motors market. The pandemic has disrupted the global supply chain, leading to a shortage of raw materials and components. Additionally, the pandemic has led to a decline in demand for vehicles, which has negatively impacted the market growth. However, the increasing demand for EVs and the stringent emission norms are expected to drive the market growth in the post-pandemic period.

Key Industry Developments

1. Protean Electric launched Protean360+, a new in-wheel motor technology that offers improved torque vectoring and regenerative braking.
2. Schaeffler AG and Paravan GmbH collaborated to develop an in-wheel motor system for autonomous vehicles.

Analyst Suggestions

The key players in the global automotive in-wheel motors market should focus on research and development to improve the performance and efficiency of in-wheel motors. Additionally, partnerships and collaborations between the key players and other stakeholders in the market can help in driving the market growth.

Future Outlook

The global automotive in-wheel motors market is expected to witness significant growth during the forecast period. The increasing demand for EVs, stringent emission norms, and the need for better driving experience and safety features are expected to drive the market growth. Additionally, the increased research and development in the field of in-wheel motors offer significant opportunities for the market growth.

Conclusion

In conclusion, the global automotive in-wheel motors market is expected to grow at a significant pace during the forecast period. The in-wheel motors offer several benefits, such as improved energy efficiency, reduced weight and complexity, improved handling and traction control, and regenerative braking. The key drivers of the market are the increasing demand for EVs, stringent emission norms, and the need for better driving experience and safety features. However, the high cost of in-wheel motors and the lack of infrastructure for EVs may hamper the market growth.