Increasing electric vehicle sales in the Asia Pacific market are expected to boost the in-wheel motor market in several ways. Firstly, as more electric vehicles are sold, the demand for advanced powertrain systems, including in-wheel motors, is expected to increase. In-wheel motors offer several advantages over traditional electric vehicle powertrains, such as improved efficiency, reduced weight, and increased stability, making them an attractive option for electric vehicle manufacturers looking to improve the performance and efficiency of their vehicles. Secondly, as electric vehicle sales increase, there is likely to be a growing demand for advanced charging infrastructure, including fast charging stations. In-wheel motors can help address this need by providing an efficient and convenient way to charge electric vehicles. By integrating in-wheel motors with advanced charging systems, electric vehicle manufacturers can provide customers with a more convenient and efficient charging experience. Thirdly, as electric vehicle sales increase, there is likely to be a growing demand for skilled workers with expertise in advanced powertrain systems, including in-wheel motors. This is expected to create new opportunities for companies that specialize in developing and manufacturing in-wheel motors, as well as for companies that provide training and education in this field. Overall, the increasing sales of electric vehicles in the Asia Pacific market are expected to drive demand for in-wheel motors and other advanced powertrain technologies, creating new opportunities for regional companies.

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Further, the APAC In Wheel Motor Market is expected to grow at a substantial CAGR of 35.0% during the forecast period (2023-2030). APAC is anticipated to emerge as the fastest-growing in wheel motor market, primarily owing to the spur in demand for electric vehicles in China, India, and Japan. Meanwhile, China constitutes to be the largest market in the APAC region, accredited to rising expenditure on electric vehicle technology and surging sales of electric vehicles.

FIG. 1 APAC In Wheel Motor Market Revenue (2020-2030)- USD Mn

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Based on vehicle class, the market is bifurcated into mid-priced and luxury. In the in-wheel motor market, the luxury segment is expected to grow with a high CAGR during the forecast period. In-wheel motors can provide several benefits to luxury vehicles, including improved performance, increased efficiency, and reduced emissions. In-wheel motors can also help reduce the weight of the vehicle, which can result in improved handling and reduced wear and tear on the vehicle’s suspension and tires.

By cooling type, the market is bifurcated into air cooling and liquid cooling. The air-cooling segment held a significant share of the market in 2022. Air cooling systems for in-wheel motors typically consist of a series of fins or blades that are attached to the rotor of the in-wheel motor. As the motor rotates, air is drawn through the fins, which helps to dissipate the heat generated by the motor. The air-cooling segment of the in-wheel motor market is expected to grow in the coming years, driven by the increasing demand for electric vehicles and the adoption of advanced technologies. In-wheel motors with air cooling systems can provide several benefits, including improved efficiency and reduced noise levels.

Global In Wheel Motor Market Segmentation

Market Insight, by Propulsion

• Battery Electric Vehicle

• Hybrid Electric Vehicle

• Plug-in Electric Vehicle

Market Insights, by Vehicle Type

• Passenger Cars

• Commercial Vehicles

Market Insights, by Vehicle Class

• Mid-Priced

• Luxury

Market Insights, by Cooling Type

• Air Cooling

• Liquid Cooling

Market Insight, by Power Output

• Up to 60 KW

• 60-90 KW

• Above 90 KW

Market Insight, by Weight

• Less than 20kg

• 20kg to 30kg

• More than 31kg

Market Insight, by Region

  • North America U.S.
  •  Canada
  •  Rest of North America
  • EuropeGermany
  • UK
  • Italy
  • France
  • Rest of Europe
  • APACChina
  • Japan
  • India
  • Rest of APAC
  • Rest of the World

Top Company Profiles

  • ECOmove GmbH
  • Elaphe Propulsion Technologies Ltd.
  • Saietta Group
  • Lordstown Motors
  • MW Motors
  • NTN Corporation
  • Schaeffler AG
  • NSK Ltd.
  • Nissan Motor Co., Ltd.
  • ZIEHL-ABEGG SE