In Wheel Motor Market size was valued at USD 1598.90 Mn. in 2023 and the total In-Wheel Motor revenue is expected to grow by 40.5% from 2024 to 2030, reaching nearly USD 17280.4 Mn.
In Wheel Motor Market Overview:
The in-wheel motor is a type of EV (electric vehicle) propulsion system. Traditional EVs have a design that replaces the gasoline engine with an electric motor. The In-wheel motor EV, on the other hand, places motors immediately around each of the driving wheels to directly power the wheels. In addition to high accelerator responsiveness, which is a benefit of EVs, the in-wheel motor makes the car's behavior more in tune with the steering by separately managing the left and right wheels. When accelerating or turning, the automobile travels instinctively in the direction the driver wishes.