Wheel Motor Market was is expected to grow $17280.4 Mn by 2030, as per Maximize Market Research.

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(EMAILWIRE.COM, October 22, 2024 ) Wheel Motor Market size was valued at USD 1598.90 Mn. in 2023 and the total In-Wheel Motor revenue is expected to grow by 40.5% from 2024 to 2030, reaching nearly USD 17280.4 Mn.

In-wheel motor is an EV propulsion system that places motors directly around each driving wheel. Unlike traditional EVs, it replaces the gasoline engine with individual motors for each wheel.

Growing global demand for electric vehicles is boosting the wheel motor market. Automakers are shifting towards electric vehicles due to fossil fuel concerns and environmental regulations. Despite challenges, manufacturers are focusing on long-term goals. However, the rise in unsprung weight from in-wheel motors is impacting ride quality, leading to issues for companies like Hyundai Motor. Asia-Pacific region led with xx% market share in 2023, poised to sustain dominance through forecast period’s end.

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Wheel Motor Market Segmentation

by Propulsion

BEV

FCEV

HEV

PHEV

by Vehicle Type

Passenger Car

Commercial Vehicle

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by Motor Type

Axial Flux Motor

Radial Flux Motor

by Cooling Type

Air-cooled

Liquid-cooled

by Power Output Type

Up to 60 KW

60–90 KW

Above 90 KW

by Vehicle Class

Mid-priced

Luxury

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by Motor Weight

Less than 20 Kg

20-30 Kg

Above 30 Kg

Wheel Motor Market Top Leaders:

1. General Motors (US)
2. Tesla (US)
3. The Orbis Ring Drive Wheel (US)
4. ORBIS Wheels, Inc. (US)
5. BYD Motors LLC (US)
6. DANA TM4 INC. (Canada)

Maximize Market Research has also published the following reports:

Busway-Bus Duct Market was Valued at USD 12.2 billion. In 2023, the revenue of the Busway-Bus Duct Market is expected to increase by 5.5% from 2024 to 2030, reaching an approximate sum of USD 17.75 billion.

Automotive Retail Market size was valued at USD 3.66 trillion in 2023 and the total Global Automotive Retail revenue is expected to grow at a CAGR of 7.15 % from 2024 to 2030, reaching nearly USD 6.22 trillion.

About Maximize Market Research

Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities and technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics and communications, Internet of Things, Food and Beverages, Aerospace and defense, and other manufacturing sectors.



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