Wheel-hub drive market zooms ahead
The major factors behind the growth of the wheel hub drive market are improved vehicle performance, replacement of transmission, drive shaft, axles, and differentials. In-wheel motors help supply torque to its associated tire and generates more power to improve the efficiency of a vehicle.
The MarketsandMarkets study analyses the entire market for this type of motors by propulsion (BEV, PHEV and FCEV), vehicle type (PC and CV), motor type (axial flux and radial flux) cooling technique (air and liquid) power output (up to 60 kW, 60 to 90 kW and above 90 kW) and by region. According to the findings, the electric passenger car segment is the largest of all segments of the wheel hub drive market. The market growth of in-wheel motors can be attributed to factors such as improved efficiency, high torque, increased power, and better vehicle handling to both new and existing vehicles. This vehicle segment is the most promising market for in-wheel motors as it is the largest in the automotive industry.
Governments prefer BEVs as these are zero emission vehicles. Various governments around the world support the sales of BEVs with subsidies and tax rebates. BEVs were the most preferred vehicles in China in 2017. Countries such as the US, Canada, the UK, and Germany are focusing heavily on electric vehicles. The top 5 selling BEV models in Europe are Renault Zoe, Nissan Leaf, Tesla Model S, BMW i3, and Volkswagen e-Golf. Among these, Tesla Model S, Chevy Volt, BMW i3, and Nissan Leaf are equipped with such wheel hub motors.
The Asia Pacific region is estimated to be the largest In-Wheel Motor Market in 2018 because of government promotions and schemes that have led to the increase in the electric vehicle sales over the years, catering to the demand for in-wheel motors. For instance, Japan-based company NTN supplies such motors to the electric vehicle start-up FSAT (Changchun Fawsn Auto Tech).
Electric commercial vehicles predominantly make use wheel hub drives (over central drive concepts and semi-central axle-based drives). Governments of various countries in the Asia Pacific region are focusing on electric commercial vehicles. For instance, OEMs such as BYD are planning to open manufacturing plants of electric buses and electric trucks to meet the regional demand in different countries of Asia Pacific.
The major In-wheel motor market players are Protean Electric (US), Elaphe (Slovenia), ZIEHL-ABEGG (Germany), Printed Motor Works (UK), and NTN (Japan), the study says.
More information on the study: https://www.marketsandmarkets.com/Market-Reports/in-wheel-motor-market-192634770.html
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