Hub Motor Market is segmented By Vehicle Type (Pedelecs, Throttle on Demand, Scooter or Motorcycle, Passenger Cars and Commercial Vehicles), Installation Type (Front Hub Motor, Rear Hub Motor), Motor Type (Gearless Hub Motor, Geared Hub Motor), Output Type (Below 1000W, 1000-3000W, Above 3000W, 100 KW), 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)
The Hub Motor Market was estimated at USD 14.18 Billion in 2021 and is forecast to grow at a CAGR of 13.2% during the forecast period.
Hub Motor are also termed as wheel hub drive, wheel motor, and in-wheel motors. Hub Motors eliminates the need for axels, drivelines, and transmissions which helps in lowering the mechanical losses between engine components and the wheel, thus offering higher efficiency. Hub motors are widely used in electric vehicles like e-bikes, e-motorcycles, electric cars, and light, heavy, commercial, and passenger vehicles. Furthermore, easy installation, cost competitiveness, flexibility, and compact & lightweight design act as demand propellers.
Electric Vehicles Revolution: The Demand Generator for Hub Motors
The adoption of favourable government policies has also broadly promoted the purchase of EVs around the globe. Also, the increasing awareness about the harmful effects of automobiles which are powered by gasoline like increase air pollution which leads to harmful diseases and increasing toxic gases, and exhaustion of natural resources highly contribute to the rising demand for Electric Vehicles. Hub motors are becoming more and more popular throughout the world, driving up demand and drawing in more and more potential customers, which is helping to expand the motor market.
E-Bikes and Scooters Dominate the Market Demand in Volume Terms
In terms of volume, Electric Bikes have been the major application areas for hub motors due to its huge market and demand in developed as well as developing economies. Majority of growing economies in APAC has a huge pool of existing two wheelers. Recent trends show a clear inclination of 2 wheelers customers shifting towards EV bikes due to growing awareness, government subsidy and lower maintenance and fuel/charging cost. This trend is expected to create huge demand for hub motors applicable for 2 wheelers in this region. Passenger cars segment is expected to witness a slowe adoption of EV technology in growing economies due to high price and un compatible road infrastructure. Road infrastructure would play a major role in lower adoption for EVs in tier two and tier 3 cities in many Asian countries. However, the premium car segment will hugely get replaced by EVs due to better luxury and aesthetics along with technologically advanced functionalities.
The easy availability of mid-drive motors can hamper the overall potential growth market of hub motors.
Mid-drive motors can act as a restraint to the market as it can be utilized as an alternative to hub motors. Hub motors operated vehicles are not suitable for off-road and construction site applications due to its inefficiency to function in dirt and off-road sites. Mid-drive bikes can also be a better choice as it allows easy repairing and tire change.
Rear Hub Motor Lead the Market due to Higher Application
Rear Hub Motor has been estimated to be the largest contributor to this market by Installation type. This type of installation generally provides more traction, flexibility, and high acceleration than other types. These rear hub motors are best for higher power applications in vehicles. Gear type Hub Motors is increasing at a faster rate amongst all segments. This particular segment is growing swiftly as it adjusts the speed of the vehicle. It provides high torque at low speed this helps drivers to enjoy long uphill rides and is lightweight.
NO Stopping to APAC: Huge OEM Demand and Future Aftermarket Potential
Electronic Vehicles of Hub Motor have been a major sold product in the market of the Asia Pacific Region. Apart from the Asia Pacific, regions of China, India, and Japan also have a wide range of buyers. Electric Vehicles are in demand globally with growing market penetration in Asia Pacific countries. Government across many countries have planned to replace majority of gasoline engines with EV systems within 5 to10 years’ timeframe. China and India are two major countries with swiftly transforming automotive industry towards EV based vehicles from passenger cars to public transport and logistics.
Top Companies and Recent Strategic Developments
Some major market players in this leading industry are Schaeffler Technologies AG & Co. KG, Hyundai Mobis, Printed Motor Works Limited, Protean Electric Limited, Aisin, QS Motor Ltd, Hero, ABB, Elaphe Propulsion Technologies Ltd, Alstom, General Electric, Robert Bosh GmbH, Accell Group N.V, Toshiba, Trek and many more.
July, 2022: Trek releases two new more affordable electric bikes with hub motors and hidden batteries
July 2022: Heavy Industries Ministry signs contracts with Reliance New Energy Limited, Ola Electric Mobility Private Limited, and Rajesh Exports Limited for battery manufacturing incentives
July 2022: FREY Runner electric bike with hub motor launched as the eMTB brand’s first touring e-bike
July 2022: Ducati unveils two new folding electric bikes, expanding its e-bike portfolio
July 2022: This EV Company Has Built the Hero Splendor’s Doppelganger
June 2022: Toshiba developing a lightweight, compact, high-power superconducting motor for mobility applications
June 2022: DAYI Motor has unveiled their new high-performance electric motorcycle eOdin Pro
May 2022: Toyota to Make India Its EV Parts Production Hub
Jan 2022: Hitachi believes it has the formula to deliver in-wheel power
March 2022: Sona Comstar launches Motor T family of motors & controllers
March 2022: Great Wall, SAIC Motor tap into Thailand EV boost from government incentives
October 2021: ALYI Retro Revolt Electric Motorcycle Rear Hub Motor Coming Out Of The Design Shop Soon
Years considered for this report
• Historical Years: 2021
• Forecast Period: 2022-2032
Hub Motor Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/ projections/ forecast for revenue and unit sales (2022 - 2032)
• Data breakdown for application Industries (2022 - 2032)
• Integration and collaboration analysis of companies
• Capacity analysis with application sector breakdown
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategies adopted by emerging companies
Industry Segmentation and Revenue Breakdown
Product Type Analysis (Revenue, USD Million, 2022 - 2032)
• Throttle on Demand
• Scooter or Motorcycle
• Passenger Cars
• Commercial Vehicles
Installation Type Analysis (Revenue, USD Million, 2022 - 2032)
• Front Hub Motor
• Rear Hub Motor
Motor Type Analysis (Revenue, USD Million, 2022 - 2032)
• Gearless Hub Motor
• Geared Hub Motor
Output Type Analysis (Revenue, USD Million, 2022 - 2032)
• Below 1000W
• 3000W – 100KW
• 100 KW – 200 KW
• Above 200 KW
Distribution Channel Analysis (Revenue, USD Million, 2022 - 2032)
Region Type Analysis (Revenue, USD Million, 2022 - 2032)
• North America (United States, Mexico, and Canada)
• Latin America (Brazil & Mexico)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, and others)
• Middle East & Africa
• Asia Pacific (China, India, South Korea, Indonesia, Australia, Vietnam, and others)
Some major market players in this leading industry are listed below. These brands have been into completion to maintain their position as the leading seller of Hub Motors to the customers.
• Schaeffler technologies AG & Co. KG
• QS Motor Ltd
• Elaphe Propulsion Technologies Ltd
• General Electric
• Robert Bosh GmbH
• Accell Group N.V
Available Versions of Hub Motor Market Report: -
United States Hub Motor Market Research Report
Europe Hub Motor Market Research Report
Asia Pacific Hub Motor Market Research Report
India Hub Motor Market Research Report
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