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Automotive Wheel Motor Market Size and Growth
The Automotive Wheel Motor market is experiencing significant growth, driven by advancements in electric vehicle technology and increasing consumer demand for efficient propulsion systems. The market size is projected to reach approximately $9 billion by 2027, reflecting a compound annual growth rate (CAGR) of around 20% due to rising electrification trends.
Companies Covered
(Covid 19 Impact Covered)
◍ Protean Electric
◍ ELAPHE
◍ SIM-Drive
◍ Toyota
◍ TM4
◍ Micro-Motor AG
◍ Schaeffler
◍ PMW
◍ MICHELIN
◍ Evans Electric
◍ TECO
◍ AMK
◍ ShanghaiEdrive
◍ XEMC LIGHT
The Automotive Wheel Motor Market features key players like Protean Electric, ELAPHE, and Toyota. These companies innovate in electric wheel motors, enhancing vehicle efficiency and performance. Their advancements drive market growth through improved designs and increased adoption of electric vehicles.
Sales revenue examples:
- Toyota: $275 billion
- Schaeffler: $21 billion
- Michelin: $24 billion
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