Global Hub Motor Market, By Vehicle Type (E-Bikes, E-Scooters/Mopeds, E-Motorcycles), Installation Type (Front Hub Motor, Rear Hub Motor), Motor Type (Gearless Hub Motor, Geared Hub Motor), Output Type (Below 1000W, 1000-3000W, Above 3000W), Distribution Channel (Aftermarket, OE Market), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Hub Motor Market
Hub motor market size is valued at USD 12.23 billion by 2028 and is expected to grow at a compound annual growth rate of 5.65% over the forecast period of 2021 to 2028. Data Bridge Market Research report on hub motor market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Hub motors are the type of motor power generators that are installed on the wheels of the vehicles and are 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.
The hub motor market has a huge potential to grow over the forecast period of 2021 to 2028, owing to the increased performance efficiency of a vehicle across the world. In addition, the increase in per capita income and rising disposable income are also largely influencing the growth of the hub motor market. Also the increasing environmental concerns has fueled the demand for electric vehicles which is another driver flourishing the growth of hub motor market, which in turn is raising the growth of the target market. Additionally, the high adoption for hub motors in the electric vehicles space as well as the rapid increase in production of vehicles with in-wheel electric motors will also boost the growth of the hub motor market in the above mentioned forecast period. Likewise, the better performance of electric vehicle due to hub motor systems along with introduction of advanced technology through high investment in R&D activities will also forward the product demand and enhance the growth of the hub motor market in the above mentioned forecast period.
However, the market of hub motor though has certain limitations which can obstruct the potential growth of the market such as the easy availability of mid-drive motors as an alternative option, whereas the increase in unsprung weight of the wheel and high cost have the potential to challenge the growth of the hub motor market. In addition, the rapidly increasing sales of electric two wheelers across the world which will further offer various growth opportunities for the hub motor market in the forecast period of 2021 to 2028.
This hub motor market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on hub motor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Hub Motor Market Scope and Market Size
Hub motor market is segmented on the basis of number of vehicle type, installation type, motor type, output type and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of vehicle type, the hub motor market is segmented into e-bikes, e-scooters/mopeds and e-motorcycles.
- The hub motor market has also been segmented on the basis of installation type into front hub motor and rear hub motor.
- On the basis of motor type, the hub motor market is segmented into gearless hub motor and geared hub motor.
- Based on output type, the hub motor market is segmented into below 1000w, 1000-3000w and above 3000w.
- The distribution channel of the hub motor market is segmented into aftermarket and OE market.
Hub Motor Market Country Level Analysis
Hub motor market is analyzed and market size, volume information is provided by country, vehicle type, installation type, motor type, output type and distribution channel as referenced above.
The countries covered in the hub motor market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
Asia-Pacific leads the hub motor market because of introduction of hub motor with innovative and enhanced features such as high torque density and high power within this particular region. Europe is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to the launch of new generation hub motors with advanced features in this region.
The country section of the hub motor market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Hub Motor Market Share Analysis
Hub motor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to hub motor market.
The major players covered in the hub motor market report are QS MOTOR, Schaeffler Group, Michelin, JIASHAN NEOPOWER INTERNATIONAL TRADE CO.LTD., Elaphe Propulsion Technologies Ltd., NTN Corporation, TAJIMA EV CORPORATION, TDCM, SONA COMSTAR, Cutler MAC (Shanghai) Brushless Motor Co., Ltd., Leaf Motor, Robert Bosch GmbH, Specialized Bicycle Components, Zero Motorcycles, Inc., Luna Cycles, Heinzmann GmbH & Co. KG, Accell Group, Fuji-ta Bicycle Co. Ltd., MERIDA BIKES, and UU Motor, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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