Automotive In-Wheel Motors Market

Automotive In-Wheel Motors Market: Increasing Adoption in Electric Vehicles to Drive Growth: Global Industry Analysis 2013 - 2018 and Opportunity Assessment 2019 - 2027

2019-02-04
REP-GB-7677
129 pages

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Automotive In-Wheel Motors Market

An Incisive, In-depth Analysis on the In Wheel Motors Market

This study offers a comprehensive, 360 degree analysis on the In Wheel Motors market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global In Wheel Motors market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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The Radial flux automotive In-Wheel motors segment is pegged to witness widespread adoption in high-performance vehicles as they are easy to manufacture. Axial flux automotive In-Wheel motors, on the other hand, offer high performance and thus, the demand for them is estimated to grow over the forecast period.

The global report provides complete information about the global market value (US$ Mn) and volume (units) projections, market dynamics (drivers, restraints, trends & opportunities in the market) and competition and latest key developments in the global automotive In-Wheel motors market for the study period 2019 to 2027.

The global automotive In-Wheel motors market is estimated to have reached US$ 467.5 Mn by 2017 end and is estimated to be valued at US$ 824.6 Mn by 2019 end, registering a CAGR of 37.7% for the period between 2019 and 2027.

Factors Influencing Growth of Automotive In-Wheel Motors Market

An automotive In-Wheel motor is an essential part of the transmission assembly and is used to drive the wheel of an electric vehicle, thereby facilitating better control. Automotive In-Wheel motors are used in all electric vehicles, including passenger cars, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs). Thus, growing production of electric vehicles is the key factor expected to drive the global automotive In-Wheel motors market during the forecast period.

On the flip side, the high cost of the target product as well as electric vehicles are projected to be major hindrances for the growth of the global automotive In-Wheel motors market in the coming years. Currently, electric vehicles are in the introductory phase. However, after ten to fifteen years, these electric vehicles will dominate the global automotive market, thereby creating lucrative opportunities for the automotive In-Wheel motors market.

Battery Electric Vehicle Segment Expected to Dominate the Global Automotive In-Wheel Market

Among segments by technology, the BEV (battery electric vehicle) segment is pegged to be a prominent segment and will grow at 39.3% CAGR. This segment is estimated to create incremental $ opportunity worth US$ 8,012.0 Mn between 2019 and 2027. Growing electric vehicle charging infrastructure in key countries, such as the U.S., the U.K., China and Japan, is also estimated to boost the sales of automotive In-Wheel motors for plug-in hybrid electric vehicles (PHEVs). This segment is projected to be valued at US$ 38.1 Mn by 2019 and reach US$ 558.6 Mn by the end of the forecast period.

Prominent Manufacturers Are Offering Automotive In-wheel Motors with Liquid Cooling

By cooling, the liquid cooled automotive In-Wheel motors segment is projected to dominate the global as well as the regional market. This is primarily owing to their exceptional ability to cool motors at high temperatures and high loads. The liquid cooled segment is estimated to gain 1586 BPS points between 2019 and 2029 while expanding at a healthy CAGR of 41.2% during the forecast period.

Passenger Car Segment to Be a Prominent Segment in Automotive In-Wheel Motors Market

The passenger car segment is projected to account for 90% value share in the global automotive In-Wheel motors market. The growth of the automotive In-Wheel motors market for first fit vehicles is directly dependent on automotive vehicle production. In terms of annual growth, the passenger car electric vehicles segment is projected to register remarkable growth rate during the latter half of the forecast period. The commercial vehicle segment is expected to grow at a moderate rate in the global automotive In-Wheel motors market. The value of this segment is projected to grow and become 14.4x by the end of 2027 and the segment is estimated to create absolute $ opportunity worth US$ 1,197.2 Mn between 2019 and 2027.

Key Strategies Adopted by Major Players in Automotive In-Wheel Motors Market

Manufacturers of automotive In-Wheel motors have been observed to be adopting mainly three strategies: acquisition, collaboration and product launches. Many automotive In-Wheel motors manufacturers are also focusing entirely on developing efficient axial flux automotive In-Wheel motors in the global market.

Automotive In-Wheel Motors Market Structure

The global automotive In-Wheel motors market is a consolidated market, with Tier-1 and Tier-2 players holding major share.

Tier-1 players are projected to account for 55% to 65% share in the global automotive In-Wheel motors market. Players, such as Protean Electric, Elaphe, ZIEHL-ABEGG, Printed Motor Works, NTN and others, make up the Tier-1 category while players, such as TM4, HEINZMANN GmbH & Co. KG and YASA Limited, amongst others, make up the Tier-2 category.

Key Questions Answered in the Report

How has the automotive In-Wheel motors market evolved over the past four years?
What shape is the automotive In-Wheel motors market expected to take in terms of volume and value during the study period?
What are some of the prevailing market dynamics in the automotive In-Wheel motors market?
What are the competition developments and trends in the automotive In-Wheel motors market?
What are some of the underlying macro-economic and industry factors impacting the growth of the automotive In-Wheel motors market?
What are the important key challenges, opportunities and improvement factors for automotive In-Wheel motors market players?
What are the important market positioning and key strategies of key manufacturers as per the automotive In-Wheel motors market taxonomy?
How is the competition structured at present? How has it evolved in the automotive In-Wheel motors market over the past few years?

Future Market Research (FMI) analyses the automotive In-Wheel motors market in its new publication titled “Automotive In-Wheel Motors Market: Global Industry Analysis 2013–2018 and Opportunity Assessment 2019–2027”. The automotive In-Wheel motors market study considers 2018 as the base year with market values estimated for 2019 and forecast developed for the duration of 2019 to 2027. The main objective of the report is to identify the dynamics in the market and analyse recent updates and insights that may impact the different segments of the global automotive In-Wheel motors market. The CAGR (Compound Annual Growth Rate) has been represented for 2019 to 2027.

This automotive In-Wheel motors market study discusses various viewpoints of the global market, including value chain analysis, market dynamics, macro-economic factors, competition analysis, pricing analysis, segmental and regional growth comparison and automotive In-Wheel motors industry growth analysis, along with segment-level projections in an inclusive representation. According to FMI’s research, the global automotive In-Wheel motors market is anticipated to register a CAGR of 37.7% during the forecast period. Growing production of new electric vehicles and increasing number of vehicles are expected to be the two most important factors that will drive the global automotive In-Wheel motors market during the forecast period.

FMI’s report on the automotive In-Wheel motors market analyses the market at regional and global levels through market segmentation on the basis of key parameters, i.e. by product type, technology, vehicle type and cooling region.

Market consolidation is one of the major trends being observed in the market. Importantly, automotive In-Wheel motors are mainly sold through authorized dealers or independent automotive suppliers.

The automotive In-Wheel motors market report has been designed to enable the readers to obtain detailed knowledge about the global automotive In-Wheel motors market. The global automotive In-Wheel motors market report starts with market introduction, definitions and taxonomy, which are followed by the market view point, market dynamics and market analysis by key segments. Individual sections covered in the report include qualitative as well as quantitative assessment based on several facts and a discussion historical as well as ongoing trends gaining momentum in the global automotive In-Wheel motors market.

The global automotive In-Wheel motors market report starts with an overview of the market, providing a summarized view of the report and information about market definitions and taxonomy. In the subsequent section, the report defines the market viewpoint, which includes an analysis of primary survey, macroeconomic factors, forecast factors, value chain and various other qualitative data regarding the market. The section that follows includes market dynamics, such as drivers, trends, restraints, and opportunities, impacting the global automotive In-Wheel motors market during the forecast period.

The following sections of the report provide global market value (US$ Mn) and volume (Units) projections on the basis of the aforementioned segments. The global market values represented in these sections have been derived by gathering information and data at a country as well as regional level. The next section of the report represents a concise view of the global automotive In-Wheel motors market based on six prominent regions considered in the study. The section includes regional market position, growth potential and market attractiveness analysis for each of these regions. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR (Compound Annual Growth Rate) but also analyse the automotive In-Wheel Motors market on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the automotive In-Wheel motors market and identify the right opportunities available for value chain participants.

Another crucial feature of this comprehensive report is the analysis of all the key segments in the automotive In-Wheel motors market, along with the revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve in the automotive In-Wheel Motors market.

In order to offer an accurate forecast, FMI started by sizing the current market, which forms the basis of how the global automotive In-Wheel motors market is expected to develop in the coming years. Given the characteristics of the global automotive In-Wheel motors market, we triangulated the outcome of three different types of analysis, based on primary research, secondary research and our own analysis. However, forecasting the market in terms of various automotive In-Wheel Motors segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the completion of the forecast exercise.

Global Automotive In-Wheel Motors Market: Competition Landscape

In the final section of the report, FMI has provided the global automotive In-Wheel motors market structure and a detailed competition landscape with company market share and performance to provide a dashboard view of key players operating in the global automotive In-Wheel motors market along with their business strategies to report audiences. In addition to this, the section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the automotive In-Wheel motors market.

This section includes market share analysis and tier structure analysis of the key manufacturers in the global automotive In-Wheel motors market. Detailed profiles of providers have also been included under the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the automotive In-Wheel motors market. Some of the key players involved in the manufacturing of automotive In-Wheel motors and included in this study are Protean Electric, Elaphe, ZIEHL-ABEGG, Printed Motor Works, NTN, TM4, HEINZMANN GmbH & Co. KG and YASA Limited, amongst others.