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 Insights
In-Wheel Motors Market size was valued at USD 2072.27 million in 2019 and is poised to grow from USD 9273.75 million in 2023 to USD 12041.5 million by 2031, growing at a CAGR of 35.8% in the forecast period (2024-2031).
In-wheel motors are a specific kind of electric motor that is built into the wheels of electric cars to provide enhanced performance by directly driving the wheels. Traditional EVs had a single motor that drove all four wheels, but the advent of the in-wheel motor system allowed for the installation of separate motors that could be controlled independently. Vehicles with in-wheel motors have a quick acceleration response since the motor is mounted directly on the wheel. In addition, the introduction of in-wheel motors in electric vehicles improves driving alignment and boosts the fun and intuitiveness of driving. These are advanced systems that improve the driving experience and handling of the vehicles which is propelling the demand for in-wheel motors and driving the market growth during the analysis period.
US In-Wheel Motors Market is poised to grow at a sustainable CAGR for the next forecast year.
In-Wheel Motors Market Report Snapshots
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