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The noticeable rise in electric vehicles at the global front has directly impacted the demand for electric mobility. At present, the development of the in-wheel motor market stands directly proportional to the worldwide sales of electric vehicles. Furthermore, the surging demand for efficiency and straightforwardness of electric vehicles has pumped the adoption of autonomous technologies associated to electric mobility. Fact.MR has thoroughly investigated into this sector to deliver an exhaustive research report titled “In-wheel Motor Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018 to 2027”, which decrypts several intricate aspects influencing the global market for in-wheel motor. Interestingly, it has been evaluated that the in-wheel motors market, in terms of revenue, is projected to expand at a 30.04% CAGR over the forecast period. Readers can receive additional insights and forecasts through this resourceful study published on the Fact.MR portal, thereby, drawing useful conclusions about the future market scenario.
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For the benefit of investors and new entrants, the report on in-wheel motor market provides an executive overview followed by taxonomy which embellishes on the key segments. Furthermore, the study outlines visionary perceptions focusing on dynamics including drivers, restraints, trends and opportunities. In addition, readers can actively gain access to prime market aspects such as pricing analysis, market size (US$ Mn & Volume) and forecast, cost structure, supply chain, Y-o-Y growth and a lot more.
Radial Engine in In-Wheel Motor Segment Likely To Deliver Supreme Incremental Opportunity
It has been recorded that increasing penetration of electric vehicles at the global level has given rise to significant demand for autonomous technology. The report advocates that radial in-wheel motors are anticipated to grow at a celebrated CAGR of 31.1% during the forecast period. Furthermore, the axial in-wheel motor is developing at a relatively slower pace in comparison to radial motors. The market share for axial motor is quite large across the global sector, thereby, producing an incremental prospect of US$ 2245.8 Mn by 2027-end.
APEJ Region Delivers Encouraging Statistics during Forecast Period
On the basis of regional bifurcation, the global in-wheel motor market is evaluated across North America, Europe, Japan, Latin America, and Middle East and Africa (MEA) and Asia Pacific Excluding Japan (APEJ). Among these, the APEJ in-wheel motor market is likely to acquire favorable value share as well as growth in terms of CAGR during the forecast period. Furthermore, the APEJ market, in terms of value, is predicted to manage a prominent market share by 2027, trailed by North America.
Battery Electric Vehicles (BEVs) to Take Leading Edge in Propulsion Segment
According to this full-proof Fact.MR study, the in-wheel motor for battery electric vehicles is anticipated to maintain its prominent spot across the propulsion segment. The market share for BEVs is likely to grow at a significant CAGR of 29.5% during the period until 2027. Moreover, the rising demand for electric mobility amid consumers merged with rising awareness for diesel and gasoline emissions has steered in-wheel motor market towards a developing path.
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With the conclusion of this report, readers can learn about the significant players operating in the global in-wheel motor market. Some of the prime companies mentioned in the study are Key players operating in the global market for In-wheel motors, include Protean Electric (US), ZIEHL-ABEGG (Germany), Elaphe (Slovenia), NTN (Japan), Printed Motor Works (UK) and others.
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