Global In-Wheel Hub Motors Market

Global In-Wheel Hub Motors Market Overview

• The Global In-Wheel Hub Motors Market Size is Expected to Grow from USD 4.05 Billion in 2023 to USD 7.03 Billion by 2033, Growing at a CAGR of 5.67% during the forecast period 2023 to 2033.
• The market growth is influenced by the development of electric vehicle (EV) technology and the growing need for small and effective propulsion systems in the automotive sector.
• Moreover, governments everywhere are enforcing strict pollution standards and offering financial incentives to promote the usage of electric cars.
• Further, the industry is also expanding as a result of consumers' increased awareness of the advantages electric vehicles have for the environment.

Major vendors in the global in-wheel hub motors market are

Protean Electric, Elaphe Propulsion Technologies Ltd., Ziehl-Abegg SE, Nidec Corporation, YASA Limited, Printed Motor Works, TM4 Inc., Schaeffler Technologies AG & Co. KG, NSK Ltd., E-TRACTION, ZIEHL-ABEGG Automotive GmbH & Co. KG, Heinzmann GmbH & Co. KG, Lordstown Motors Corp., Hyundai Mobis, GKN Automotive Limited, Michelin Group, Tesla Inc., Continental AG, Robert Bosch GmbH, Magna International Inc, and others.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the in-wheel hub motors market based on the below-mentioned segments:

Global In-Wheel Hub Motors Market, By Motor Type

• Brushless DC Motors
• Permanent Magnet Synchronous Motors
• Induction Motors
• Others

Global In-Wheel Hub Motors Market, By Application

• Passenger Cars
• Commercial Vehicles

Global In-Wheel Hub Motors Market, By Distribution Channel

• OEMs
• Aftermarket

Global In-Wheel Hub Motors Market, By Power Rating

• Up to 60 kW
• 60-90 kW
• Above 90 kW

Global In-Wheel Hub Motors Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa