Hub motor - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Hub Motor Market is accounted for $7.45 billion in 2017 and is expected to reach $14.28 billion by 2026 growing at a CAGR of 7.5% during the forecast period. Some of the key factors driving the market growth include increasing sales of electric two wheelers globally, increased driving range and government purchase incentives for electric two wheelers. However, factors such as lack of awareness of general population related to motorcycle hub motors is restraining the market growth.
The Hub Motor is normally used in an electric motorcycle to offer traction by converting stored electric energy to motion power. Hub Motor are integrating into the wheel-hub to provide traction, it has mostly two type of possibilities or arrangements of fitting in an electric which is straight connection and wheel hub with an extra gearbox. During Direct connection low-speed with elevated torque can be attained though incorporation of wheel hub with an additional gearbox facilitates speed and torque accordingly to user requirement. This hub motor helps in dropping the fuel consumption and also reduces maintenance costs of the motorcycle and that extend the motorcycle life. The hub motor arrangement is a major step towards vehicular emission control. Furthermore, the sizes, elasticity, power efficient and lightweight are the advantages of the traction through hub motor.
Based on Sales Channel, OEM segment held considerable market share during the forecast period owing to the hub motor being in the advance phase. In addition, greater life span and usages of this equipment is anticipated to drive the OEM segment growth. Additionally, major expansion of the automotive production and increasing export of Electric Vehicles from the Japan, Korea and China are projected to grow the OEM segment for the market. By Geography, Asia Pacific is estimated to have prominent growth in the global market due to 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 in the market are Schaeffler, Elaphe Ltd, Michelin Group, Jiashan Neopower International Trade, QS Motor, Go Swissdrive, MAC Motor, TDCM Corporation, NTN Corporation, Tajima EV, Robert Bosch, Leaf Motor, Enertrac Corporation, Fuji-Ta, Merida, Heinzmann, Zero Motorcycles, Luna Cycle, Tainjin Golden Wheel, Accell Group, Pon Bike Group and Victory Motorcycles.
• Gearless Hub Motor
• Geared Hub Motor
Power Outputs Covered:
• Above 3000 W
• 1000–3000 W
• Below 1000 W
• Rear Hub Motor
• Front Hub Motor
• All Drive
Sales Channels Covered:
• Original Equipment Manufacturer
Method of Cooling’s covered:
• Air Cooled
• Water Cooled
• More than 700 Nm
• Less than 700 Nm
Electric Vehicle Types Covered:
• Hybrid Electric Vehicle (HEV)
• Plug in Hybrid Vehicle (PHEV)
• Battery Vehicle (BEV)
• Conventional Braking
• Regenerative Braking
Vehicle Types Covered:
• Passenger Vehicle
• Commercial Vehicle
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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