Hub Motor Market
Hub Motor Market Forecasts to 2030 - Global Analysis By Motor Type (Geared Hub Motors, Gearless Hub Motors, and Other Motor Types), Power Output, Installation Type, Motor Design, Application, End User and By Geography
According to Stratistics MRC, the Global Hub Motor Market is accounted for $13.98 billion in 2024 and is expected to reach $20.75 billion by 2030 growing at a CAGR of 6.8% during the forecast period. A hub motor is an electric motor that is built right into the wheel hub of an automobile, scooter, or electric bicycle. It provides a small and effective electric propulsion solution by doing away with the necessity for a conventional drivetrain. By directly powering the wheels, hub motors offer advantages like ease of use, minimal maintenance, and increased energy efficiency. Because of their simplicity of installation and capacity to provide sufficient torque and performance, they are frequently found in light electric vehicles.
According to the National Renewable Energy Laboratory, there could be between 30 Million to 42 Million EVs on U.S. roads by 2030, highlighting the significant shift toward electric mobility.
Market Dynamics:
Driver:
Increasing demand for electric vehicles (EVs)
EV adoption is speeding up as governments around the world enact laws to lower carbon emissions and encourage environmentally friendly transportation. Integrated into EV wheels, hub motors provide a number of benefits, including increased performance, decreased weight, and increased efficiency. The market for hub motors is also being driven by consumers' increasing preference for environmentally friendly automobiles. The expansion of the EV market is also being aided by developments in battery technology and charging infrastructure, which raises the need for hub motors.
Restraint:
Maintenance issues in harsh conditions
Hub motors, being located in the wheels, are exposed to challenging environments such as extreme temperatures, moisture, and debris. These conditions can lead to wear and tear, affecting the performance and longevity of hub motors. Regular maintenance is required to ensure the reliability and efficiency of hub motors, which can be time-consuming and costly. Furthermore, the availability of skilled technicians for maintenance and repairs can be limited in certain regions. This can deter consumers and manufacturers from adopting hub motors for their EVs.
Opportunity:
Popularity of E-mobility and last-mile connectivity
Urbanization and increasing traffic congestion are driving the demand for efficient and sustainable transportation solutions. Hub motors are ideal for e-mobility applications such as electric scooters, bikes, and small vehicles used for last-mile connectivity. Their compact design and high efficiency make them suitable for navigating urban environments. Additionally, government incentives and initiatives promoting e-mobility further boost the adoption of hub motors. The growth of ride-sharing and micro-mobility services also contributes to the increased demand for hub motor-powered vehicles.
Threat:
Limited torque for high-speed applications
Hub motors have a limited torque output at higher speeds, which might affect their performance even though they are quite efficient at lower speeds. High-speed EVs may become less competitive when compared to cars with conventional powertrains as a result of this impact on their acceleration and general performance. Manufacturers must spend money on research and development to increase hub motor torque in order to overcome this obstacle. Furthermore, hub motor performance in high-speed applications can be enhanced by integrating cutting-edge materials and control technologies.
Covid-19 Impact
The COVID-19 pandemic has had a significant impact on the hub motor market, causing disruptions in supply chains and manufacturing processes. Lockdowns and restrictions on movement resulted in temporary shutdowns of manufacturing facilities, leading to delays in the production and delivery of hub motors. The economic slowdown also led to reduced consumer spending and a decline in automotive sales, affecting the demand for hub motors. However, as the world recovers from the pandemic, there is an expected rebound in the market.
The electric scooters segment is expected to be the largest during the forecast period
The electric scooters segment is expected to account for the largest market share during the forecast period. Electric scooters equipped with hub motors offer several advantages, such as compact design, ease of use, and low maintenance requirements. Additionally, the rising awareness of environmental issues and the need for sustainable transportation solutions are driving the demand for electric scooters. The growing trend of ride-sharing and micro-mobility services further boosts the adoption of electric scooters with hub motors.
The transportation segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the transportation segment is predicted to witness the highest growth rate, due to the growing demand for efficient and eco-friendly transportation solutions. Hub motors are being increasingly adopted in various transportation applications, including electric buses, trucks, and delivery vehicles. The benefits of hub motors, such as improved efficiency, reduced emissions, and enhanced performance, make them suitable for transportation applications. The shift towards green logistics and sustainable transportation practices is driving the demand for hub motor-powered vehicles in the transportation sector.
Region with largest share:
During the forecast period, Asia Pacific region is expected to hold the largest market share, attributed to the rapid adoption of electric vehicles and the presence of major EV manufacturers in countries like China, Japan, and India. The region's strong automotive industry and supportive government policies promoting sustainable transportation drive the demand for hub motors. The rising urbanization and traffic congestion in Asia Pacific also contribute to the demand for efficient transportation solutions like hub motor-powered EVs.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to the growing adoption of electric vehicles and advancements in EV technology. The region's strong focus on sustainability and reducing carbon emissions is driving the demand for hub motors in electric vehicles. Additionally, government incentives and initiatives promoting the adoption of EVs further boost the market's growth. The increasing popularity of ride-sharing and micro-mobility services in North America also contributes to the rising demand for hub motor-powered vehicles.
Key players in the market
Some of the key players profiled in the Hub Motor Market include Bafang Electric Co., Ltd., Golden Motor Technology Co., Ltd., Bosch eBike Systems, Shimano Inc., Go SwissDrive AG, Yamaha Motor Co., Ltd., Aptiv PLC, TranzX, Tongsheng Motor Co., Ltd., Porsche Engineering Group GmbH, Sunstar Engineering Inc., Panasonic Corporation, Mahindra Electric Mobility Ltd., Inmotion Technologies, and Xiaodao E-Vehicle Co., Ltd.
Key Developments:
In January 2025, Panasonic has announced a series of new firmware updates for its full-frame mirrorless LUMIX S5II and S5IIX, as well as its Micro Four Thirds mirrorless GH7 and G9II cameras, aimed at improving the shooting experience and enhancing functionality.
In February 2023, Inmotion Technologies in Tyresö, southern Stockholm, is expanding with a production facility of 6,000 sqm, in order to meet the strong demand for the company’s products. Inmotion develops and produces power electronic products for electrified commercial vehicles. The construction of the new facility will start in February 2022 and the inauguration is planned for mid-2023.
Motor Types Covered:
• Geared Hub Motors
• Gearless Hub Motors
• Other Motor Types
Power Outputs Covered:
• Below 1 kW
• 1-3 kW
• 3-5 kW
• Above 5 kW
Installation Types Covered:
• Front Hub
• Rear Hub
• Both Rear Hub Motor
• Both Front Hub Motor
Motor Designs Covered:
• Brushless Hub Motors (BLDC)
• Brushed Hub Motors
Applications Covered:
• Electric Scooters
• Electric Bicycles (E-Bikes)
• Electric Motorcycles
• Electric Cars
• Electric Buses and Trucks
• Robotics and Automation
• Other Applications
End Users Covered:
• Industrial
• Transportation
• Recreational
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Hub Motor Market, By Motor Type
5.1 Introduction
5.2 Geared Hub Motors
5.3 Gearless Hub Motors
5.4 Other Motor Types
6 Global Hub Motor Market, By Power Output
6.1 Introduction
6.2 Below 1 kW
6.3 1-3 kW
6.4 3-5 kW
6.5 Above 5 kW
7 Global Hub Motor Market, By Installation Type
7.1 Introduction
7.2 Front Hub
7.3 Rear Hub
7.4 Both Rear Hub Motor
7.5 Both Front Hub Motor
8 Global Hub Motor Market, By Motor Design
8.1 Introduction
8.2 Brushless Hub Motors (BLDC)
8.3 Brushed Hub Motors
9 Global Hub Motor Market, By Application
9.1 Introduction
9.2 Electric Scooters
9.3 Electric Bicycles (E-Bikes)
9.4 Electric Motorcycles
9.5 Electric Cars
9.6 Electric Buses and Trucks
9.7 Robotics and Automation
9.8 Other Applications
10 Global Hub Motor Market, By End User
10.1 Introduction
10.2 Industrial
10.3 Transportation
10.4 Recreational
10.5 Other End Users
11 Global Hub Motor Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Bafang Electric Co., Ltd.
13.2 Golden Motor Technology Co., Ltd.
13.3 Bosch eBike Systems
13.4 Shimano Inc.
13.5 Go SwissDrive AG
13.6 Yamaha Motor Co., Ltd.
13.7 Aptiv PLC
13.8 TranzX
13.9 Tongsheng Motor Co., Ltd.
13.10 Porsche Engineering Group GmbH
13.11 Sunstar Engineering Inc.
13.12 Panasonic Corporation
13.13 Mahindra Electric Mobility Ltd.
13.14 Inmotion Technologies
13.15 Xiaodao E-Vehicle Co., Ltd.
List of Tables
1 Global Hub Motor Market Outlook, By Region (2022-2030) ($MN)
2 Global Hub Motor Market Outlook, By Motor Type (2022-2030) ($MN)
3 Global Hub Motor Market Outlook, By Geared Hub Motors (2022-2030) ($MN)
4 Global Hub Motor Market Outlook, By Gearless Hub Motors (2022-2030) ($MN)
5 Global Hub Motor Market Outlook, By Other Motor Types (2022-2030) ($MN)
6 Global Hub Motor Market Outlook, By Power Output (2022-2030) ($MN)
7 Global Hub Motor Market Outlook, By Below 1 kW (2022-2030) ($MN)
8 Global Hub Motor Market Outlook, By 1-3 kW (2022-2030) ($MN)
9 Global Hub Motor Market Outlook, By 3-5 kW (2022-2030) ($MN)
10 Global Hub Motor Market Outlook, By Above 5 kW (2022-2030) ($MN)
11 Global Hub Motor Market Outlook, By Installation Type (2022-2030) ($MN)
12 Global Hub Motor Market Outlook, By Front Hub (2022-2030) ($MN)
13 Global Hub Motor Market Outlook, By Rear Hub (2022-2030) ($MN)
14 Global Hub Motor Market Outlook, By Both Rear Hub Motor (2022-2030) ($MN)
15 Global Hub Motor Market Outlook, By Both Front Hub Motor (2022-2030) ($MN)
16 Global Hub Motor Market Outlook, By Motor Design (2022-2030) ($MN)
17 Global Hub Motor Market Outlook, By Brushless Hub Motors (BLDC) (2022-2030) ($MN)
18 Global Hub Motor Market Outlook, By Brushed Hub Motors (2022-2030) ($MN)
19 Global Hub Motor Market Outlook, By Application (2022-2030) ($MN)
20 Global Hub Motor Market Outlook, By Electric Scooters (2022-2030) ($MN)
21 Global Hub Motor Market Outlook, By Electric Bicycles (E-Bikes) (2022-2030) ($MN)
22 Global Hub Motor Market Outlook, By Electric Motorcycles (2022-2030) ($MN)
23 Global Hub Motor Market Outlook, By Electric Cars (2022-2030) ($MN)
24 Global Hub Motor Market Outlook, By Electric Buses and Trucks (2022-2030) ($MN)
25 Global Hub Motor Market Outlook, By Robotics and Automation (2022-2030) ($MN)
26 Global Hub Motor Market Outlook, By Other Applications (2022-2030) ($MN)
27 Global Hub Motor Market Outlook, By End User (2022-2030) ($MN)
28 Global Hub Motor Market Outlook, By Industrial (2022-2030) ($MN)
29 Global Hub Motor Market Outlook, By Transportation (2022-2030) ($MN)
30 Global Hub Motor Market Outlook, By Recreational (2022-2030) ($MN)
31 Global Hub Motor Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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