BEV (Battery Electric Vehicles) to Dominate the Propulsion Segment in the Global In-wheel motor Market – Fact.MR Study
Fact.MR delivers vital insights into the In-wheel motors market in its published report, titled “In-wheel motors: Industry Analysis and Opportunity Assessment, 2018–2027”. In terms of revenue, the In-wheel motors market is estimated to expand at a CAGR of 30.04% over the forecast period, owing to the numerous factors, about which FACT.MR offers thorough insights and forecasts in this report.
With increasing global penetration of electric vehicles across the world has led the rising demand for electric mobility. The in-wheel motor market is directly proportional to the sales of electric vehicles across the world. Also, rising demand for simplicity and efficiency of electric vehicles has led adoption of autonomous technologies to the electric mobility. Provisions for more spacious vehicles and reduced weight of vehicle coupled with rising awareness for emission control has also influenced in-wheel motor market towards considerable growth in the forecast period.
In-wheel motor with between 60-90 KW Output Power are estimated to be the Most Lucrative Market in the In-wheel motor
The demand for In-wheel motor with maximum 60-90 KW output power is estimated to grow at a significant rate and is projected to reach more than US$ 737.4 Mn by 2027 end. The In-wheel motor with above 90 KW output power is growing at a relatively slower pace as compared to other In-wheel motor.
The slow growth in the above 90 KW output power In-wheel motor in the market is attributed to high cost structure and its heavy weight as compared to other motors in the output power segment for in-wheel motor market.
Furthermore, the In-wheel motor up to 60 KW output power, which has large scale of applications in various types of electric vehicles. Therefore, it holds more than 72.3% share in terms of value in 2018.
Radial motor in in-wheel motor segment are estimated to have maximum incremental opportunity during the forecast period
With increasing penetration of electric vehicles across the world demand for rising autonomous technology is increasing. The radial in-wheel motors are projected to grow at a significant CAGR of 31.1% during the forecast period.
The axial in-wheel motor is growing at a relatively slower pace as compared to radial motors. The axial motor has large market share in the global market creating an incremental opportunity of US$ 2245.8 Mn by 2027 end.
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