Report ID: SQMIG25A2133
In-Wheel Motors Market Size, Share, Growth Analysis, By Propulsion Type(Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plugin-Hybrid Electric vehicles), By Application(Passenger Vehicles, Commercial vehicles, Industrial Equipment), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2133 |
Region:
Global |
Published Date: July, 2036
Pages:
253
|
Tables:
63 |
Figures:
75
In-Wheel Motors Market Regional Insights
In 2021 the Asia Pacific accounted for the largest market share of the global in-wheel motor market and is expected to dominate the market throughout the analysis period. The increasing demand for electric vehicles in nations like China, India, and Japan is the major reason for this dominance in the region. Since China has the largest EV market, major manufacturers like Protean Electric and Elaphe are working to establish a market there.
Due to the rising demand for electric vehicles, Europe is predicted to become the second largest market for in-wheel motors globally. Germany, the UK, and the Nordic countries are the primary market leaders in the European region. Market expansion is aided by the presence of many companies that produce in-wheel motors in the region which make it easy for supply chain establishment. These are some of the major factors that are driving the demand for the in-wheel motors market during the analysis period.
In-Wheel Motors Market Report Snapshots
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