In-wheel Motor Market: By Product Type, By Propulsion Type, By Motor Type, By Cooling Type, and Geography
In-wheel Motor Market size was valued at US$ 912.2 million in 2023 and is poised to grow at a significant CAGR of 38.2% from 2024-2030. The in-wheel motor is an electric vehicle technology. Conventional electric vehicles are designed so that the gasoline engine is substituted with an electric motor. In the electric vehicle (EV), the motor is installed on each driving wheel to power the wheels directly. One major advantage of EVs is good accelerator responsiveness. It makes the car's behavior more in tune with the steering. The vehicle moves naturally in the way the driver wants. The growing automotive sector and increasing demand for fuel-efficient vehicles are the major drivers in the global in-wheel motor market growth. Moreover, the growth of the in-wheel motor market is attributed to its advantages, such as increased driving range, reliability, and improved vehicle performance. Also, the increasing R&D expenses can provide lucrative opportunities for in-wheel motor manufacturers to increase the efficiency of a vehicle. The global manufacturers are focusing on developing an efficient in-wheel motor car system for future transport. The in-wheel motor market is directly connected to the electric vehicle market. The increasing awareness of pollution and awareness of sustainable solutions will drive the global in-wheel motor market growth. Based on the motor type, the global in-wheel motor market is segmented into axial flux motor and radial flux motor. The axial flux motor holds the major market share in 2022 and is expected to maintain the global in-wheel motor market growth in the upcoming years. However, the in-wheel motors' biggest disadvantage is the heavy weight of the wheel, which decreases the ride quality and comfort. Hence, it can be the biggest restrain in the global in-wheel motor market growth. Geographically, Asia-specific holds the major market share in the global in-wheel motor market and is expected to dominate the global market in the forecasted years.
Study Period
2024-2030Base Year
2023CAGR
38.2%Largest Market
North AmericaFastest Growing Market
Asia pacific
The increasing penetration of electrical vehicles globally will drive the in-wheel motor market. The market for electric cars is growing significantly due to awareness about pollution, and people are shifting towards a sustainable solution. Global EV sales are increasing day by day. The government regulations supporting long-range, zero-emission vehicles through subsidies & tax rebates are the influencers that force the manufacturers to provide electric cars around the world. Hence, this will drive the global market.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2023 |
US$ 912.2 million |
Market CAGR |
38.2% |
By Product Type |
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By Propulsion Type |
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By Motor Type |
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By Cooling Type |
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The in-wheel motor market size was valued at US$ 912.2 million in 2023
Protean Electric, Elaphe Ltd., Printed Motor Works, ZIEHL-ABEGG, NTN Corporation, Schaeffler, Ford Motor Company, Volkswagen, Nissan Motor Corporation, Bayerische Motoren Werke AG, BYD Auto Co.
Global is the fastest-growing region for in-wheel motor market
1. Executive Summary |
2. Global In-wheel Motor Market Introduction |
2.1. Global In-wheel Motor Market Taxonomy |
2.2. Global In-wheel Motor Market Definitions |
2.2.1. By Product Type |
2.2.2. By Propulsion Type |
2.2.3. By Motor Type |
2.2.4. By Cooling Type |
2.2.5. By Region |
3. Global In-wheel Motor Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Global In-wheel Motor Market Dynamic Factors - Impact Analysis |
3.6. Global In-wheel Motor Market Competition Landscape |
3.7. Epidemiology |
4. Global In-wheel Motor Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global In-wheel Motor Market, By Product Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.1. Passenger Car |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Commercial Vehicle |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
6. Global In-wheel Motor Market, By Propulsion Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.1. BEV |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. FCEV |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. HEV |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. PHEV |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
7. Global In-wheel Motor Market, By Motor Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.1. Axial Flux Motor |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Radial Flux Motor |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
8. Global In-wheel Motor Market, By Cooling Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.1. Air-cooled |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Liquid-cooled |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
9. Global In-wheel Motor Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.1. North America |
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.1.3. Market Opportunity Analysis |
9.2. Europe |
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.2.3. Market Opportunity Analysis |
9.3. Asia-Pacific |
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.3.3. Market Opportunity Analysis |
9.4. Latin America |
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.4.3. Market Opportunity Analysis |
9.5. Middle East and Africa |
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.5.3. Market Opportunity Analysis |
9.6. Global In-wheel Motor Market - Opportunity Analysis Index, By Product Type, By Propulsion Type, By Motor Type, By Cooling Type, and Region, 2024 - 2030 |
10. North America In-wheel Motor Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
10.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.1.1. Passenger Car |
10.1.2. Commercial Vehicle |
10.2. Propulsion Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.2.1. BEV |
10.2.2. FCEV |
10.2.3. HEV |
10.2.4. PHEV |
10.3. Motor Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.3.1. Axial Flux Motor |
10.3.2. Radial Flux Motor |
10.4. Cooling Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.4.1. Air-cooled |
10.4.2. Liquid-cooled |
10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
10.5.1. USA |
10.5.2. Canada |
10.6. North America In-wheel Motor Market - Opportunity Analysis Index, By Product Type, By Propulsion Type, By Motor Type, By Cooling Type, and Country, 2024 - 2030 |
10.7. North America In-wheel Motor Market Dynamics Trends |
11. Europe In-wheel Motor Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
11.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.1.1. Passenger Car |
11.1.2. Commercial Vehicle |
11.2. Propulsion Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.2.1. BEV |
11.2.2. FCEV |
11.2.3. HEV |
11.2.4. PHEV |
11.3. Motor Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.3.1. Axial Flux Motor |
11.3.2. Radial Flux Motor |
11.4. Cooling Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.4.1. Air-cooled |
11.4.2. Liquid-cooled |
11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
11.5.1. Germany |
11.5.2. UK |
11.5.3. France |
11.5.4. Spain |
11.5.5. Italy |
11.5.6. Rest of Europe |
11.6. Europe In-wheel Motor Market - Opportunity Analysis Index, By Product Type, By Propulsion Type, By Motor Type, By Cooling Type, and Country, 2024 - 2030 |
11.7. Europe In-wheel Motor Market Dynamics Trends |
12. Asia-Pacific In-wheel Motor Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
12.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.1.1. Passenger Car |
12.1.2. Commercial Vehicle |
12.2. Propulsion Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.2.1. BEV |
12.2.2. FCEV |
12.2.3. HEV |
12.2.4. PHEV |
12.3. Motor Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.3.1. Axial Flux Motor |
12.3.2. Radial Flux Motor |
12.4. Cooling Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.4.1. Air-cooled |
12.4.2. Liquid-cooled |
12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
12.5.1. China |
12.5.2. India |
12.5.3. Japan |
12.5.4. ASEAN |
12.5.5. Australia & New Zealand |
12.5.6. Rest of Asia-Pacific |
12.6. Asia-Pacific In-wheel Motor Market - Opportunity Analysis Index, By Product Type, By Propulsion Type, By Motor Type, By Cooling Type, and Country, 2024 - 2030 |
12.7. Asia-Pacific In-wheel Motor Market Dynamics Trends |
13. Latin America In-wheel Motor Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
13.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.1.1. Passenger Car |
13.1.2. Commercial Vehicle |
13.2. Propulsion Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.2.1. BEV |
13.2.2. FCEV |
13.2.3. HEV |
13.2.4. PHEV |
13.3. Motor Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.3.1. Axial Flux Motor |
13.3.2. Radial Flux Motor |
13.4. Cooling Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.4.1. Air-cooled |
13.4.2. Liquid-cooled |
13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
13.5.1. Brazil |
13.5.2. Mexico |
13.5.3. Rest of Latin America |
13.6. Latin America In-wheel Motor Market - Opportunity Analysis Index, By Product Type, By Propulsion Type, By Motor Type, By Cooling Type, and Country, 2024 - 2030 |
13.7. Latin America In-wheel Motor Market Dynamics Trends |
14. Middle East and Africa In-wheel Motor Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
14.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.1.1. Passenger Car |
14.1.2. Commercial Vehicle |
14.2. Propulsion Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.2.1. BEV |
14.2.2. FCEV |
14.2.3. HEV |
14.2.4. PHEV |
14.3. Motor Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.3.1. Axial Flux Motor |
14.3.2. Radial Flux Motor |
14.4. Cooling Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.4.1. Air-cooled |
14.4.2. Liquid-cooled |
14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
14.5.1. Gulf Cooperation Council (GCC) Countries |
14.5.2. South Africa |
14.5.3. Rest of MEA |
14.6. MEA In-wheel Motor Market - Opportunity Analysis Index, By Product Type, By Propulsion Type, By Motor Type, By Cooling Type, and Country, 2024 - 2030 |
14.7. MEA In-wheel Motor Market Dynamics Trends |
15. Competition Landscape |
15.1. Strategic Dashboard of Top Market Players |
15.2. Company Profiles (Introduction, Financial Analysis, Key Product Types, Key Developments, Strategies, and SWOT Analysis) |
15.2.1. Protean Electric |
15.2.2. Elaphe Ltd. |
15.2.3. Printed Motor Works |
15.2.4. ZIEHL-ABEGG |
15.2.5. NTN Corporation |
15.2.6. Schaeffler |
15.2.7. Ford Motor Company |
15.2.8. Volkswagen |
15.2.9. Nissan Motor Corporation |
15.2.10. Bayerische Motoren Werke AG |
15.2.11. BYD Auto Co. |
16. Research Methodology |
17. Key Assumptions and Acronyms |
Key Market Players