Protean Electric – Products, Competitors, Financials, Employees, Headquarters Locations

Global In-Wheel Motor Market Expected to Garner $4,120.60 Million in the 2021-2028 Timeframe, Growing at 27.10% CAGR [230-Pages] | Approved by Research Dive

Impact of Covid-19 on the Market 
The novel coronavirus wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles including that of the in-wheel motor market. The reduction in automobile manufacturing and sales along with decreased utilization of vehicles due to travel restrictions led to an overall decline in the growth rate of the market during the pandemic years. Segments of the Market 
The report has divided the market into certain segments based on vehicle type, propulsion type, distribution channel, and region. Vehicle Type: Passenger Vehicles Sub-segment to be the Most Dominant 
By vehicle type, the passenger vehicles sub-segment is expected to have the most dominant as well as the fastest growing sub-segment and reach $3,284.30 million by 2028. Increasing demand for eco-friendly mobility options is expected to push the growth of this sub-segment. Propulsion Type: Battery Electric Vehicle Sub-segment to be the Most Lucrative 
By propulsion type, the battery electric vehicle sub-segment is expected to have the most dominant market share of the in-wheel motor market and register $1,910.90 million by 2028. The low cost of battery electric vehicles as compared to hybrid electric vehicles is expected to help in the growth of this sub-segment. Distribution Channel: Original Equipment Manufacturer Sub-segment to Grow Rapidly 
By distribution channel, the original equipment manufacturer sub-segment is expected to have the highest market share and reach $3,041.00 million by 2028. Large-scale production of commercial and passenger vehicles with an increasing focus on fuel efficiency is expected to propel this sub-segment. Market in the Asia-Pacific Region to be the Most Profitable 
By regional analysis, the market in the Asia-Pacific region is predicted to be the most profitable one and is expected to surpass $1,682.40 million by 2028. Rapid urbanization and increasing demand for eco-friendly mobility solutions in countries like India and China are predicted to augment the growth of the in-wheel motor market in this region. Prominent Market Players 
Protean Electric 
NTN Corporation 
Elaphe Propulsion Technologies Ltd 
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a prominent position in the market. For instance, in November 2021, Bedeo, a leading electric vehicle manufacturer, announced the acquisition of Protean Electric, a specialist in in-wheel motor technology. This acquisition is predicted to help Bedeo to expand its footprint in the market in the coming period and consolidate its position. Finally, the report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio. More about In-Wheel Motor Market: