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Hub Motor Market

Hub Motor Market Forecasts to 2028 – Global Analysis By Motor (Geared, Gearless), Product (Pedelecs, Throttle on Demand), Torque (< 700 Nm, > 700 Nm), Sales Channel (OEM, Aftermarket) and By Geography

4.1 (93 reviews)
Published: November 2021 ID: SMRC21192
4.1 (93 reviews)
Published: November 2021 ID: SMRC21192

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Hub Motor Market is accounted for $8.48 billion in 2020 and is expected to reach $14.58 billion by 2028 growing at a CAGR of 7.01% during the forecast period. Increasing government purchase incentives for electric two wheelers, enhanced performance of electric vehicle and rise in production of vehicles are driving the market growth. However, lack of awareness and less operating speed are hampering the growth of the market.

Hub Motor is an electric motor that is installed in the wheels that drives the wheels directly and is used for the improvement in effectiveness and performance of the vehicles. They are installed on the wheels of the electric vehicles so that the load on the engine can be reduced and the performance of the vehicle is enhanced.

Based on the installation, the rear hub motor segment is going to have lucrative growth during the forecast period as rear hub motor provides high power handling, powerful acceleration, and high flexibility. These motors are now widely used in modern electric and hybrid vehicle especially electric scooters and electric bike kits.

By geography, Asia Pacific is going to have high growth during the forecast period due to the rush in adoption of electric buses in emerging economies of this region. In addition, rising imports and exports of electric vehicles due to rise in pollution and to find alternative to gasoline vehicles that emit huge pollutants in the atmosphere is another factor responsible for the growth of this market in this region.

Some of the key players profiled in the Hub Motor Market include Accell Group, Elaphe Ltd, Enertrac Corporation, Jiashan Neopower International Trade Co, Ltd,Leaf Motor,  Luna Cycle, Michelin Group, NTN Corporation, QS Motor, Robert Bosch, Schaeffler technologies AG & CO. KG, Siemens AG, TDCM Corporation and Zero Motorcycles.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 8.48 billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR)  from 2020 to 2028:

7.0%

Predicted 2028 Value:

USD 14.58 billion

Forecast Years:

2021-2028

Tables, Graphs & Figures

281

Chapters Covered:

Motor, Braking, Product, Vehicle Type,

Installation, Torque, Drive, Method of Cooling, Electric Vehicle Type, Power Output, Sales Channel and Region

Core Drivers and Opportunities:

  • Increasing government purchase incentives for electric two wheelers
  • Enhanced performance of electric vehicle
  • Rise in production of vehicles

Restraining Factors & Market Threats:

  • Lack of awareness
  • Less operating speed


Motors Covered:
• Geared Hub Motor
• Gearless Hub Motor

Brakings Covered:
• Regenerative Braking
• Conventional Braking

Products Covered:
• Pedelecs
• Throttle on Demand

Vehicle Types Covered:
• Two-Wheelers
• Three Wheelers
• Four Wheelers

Installations Covered:
• Front Hub Motor
• Rear Hub Motor

Torques Covered:
• Less than 700 Nm
• More than 700 Nm

Drives Covered:
• Front Wheel Drive
• All-Wheel Drive
• Rear Wheel Drive

Method of Cooling’s Covered:
• Water Cooled
• Air Cooled

Electric Vehicle Types Covered:
• Battery Electric Vehicle (BEV)
• Plug in Hybrid Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)

Power Outputs Covered:
• Below 1000 W
• 1000–3000 W
• Above 3000 W

Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket 

 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 2019, 2020, 2021, 2025 and 2028
- 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

Key Questions Answered In The Report

The Global Hub Motor Market is majorly driven by government purchase incentives for electric two wheelers, enhanced performance of electric vehicle and rise in production of vehicles.

The rear hub motor segment is growing at a highest CAGR as rear hub motor provides high power handling, powerful acceleration, and high flexibility.

North America dominated with a significant market share due to the growing focus of the manufacturers in the region for faster, cleaner and high-performance electric vehicles in the market.

Asia Pacific market is growing at a highest CAGR due to the rush in adoption of electric buses in emerging economies of this region. In addition, to find alternative to gasoline vehicles that emit huge pollutants in the atmosphere is another factor responsible for the growth of this market in this region.

Key players in Hub Motor Market includeAccell Group, Elaphe Ltd, Enertrac Corporation, Jiashan Neopower International Trade Co, Ltd,Leaf Motor, Luna Cycle, Michelin Group, NTN Corporation, QS Motor, Robert Bosch, Schaeffler technologies AG & CO. KG, Siemens AG, TDCM Corporation and Zero Motorcycles.

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