Global Hub Motor for Electric Vehicle Market, By Vehicle Type (Passenger Vehicle, Commercial Vehicle), Drive Type (All-Wheel Drive, Front Wheel Drive, Rear Wheel Drive), Electric Vehicle Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, Hybrid Electric Vehicle), Cooling Type (Water Cooled, Air Cooled), Brake Type (Regenerative Brake, Conventional Brake), Torque (Less Than 700 Nm, More Than 700 Nm), Distribution Channel (Aftermarket, OEM), 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 for Electric Vehicle Market
The hub motor for electric vehicle market size is valued at USD 31,330.35 million by 2028 and is expected to grow at a compound annual growth rate of 22.1% over the forecast period of 2021 to 2028. Data Bridge Market Research report on hub motor for electric vehicle market provides analysis is 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 for electric vehicles helps to alter vehicle ride handling, as they increase the unsprung mass, which is chiefly the weight of all components not supported by the vehicle’s suspension system. This results in diffusion of more shock and vibration to the vehicle body.
The hub motor for electric vehicle market has a huge potential to grow over the forecast period of 2021 to 2028, owing to the high performance efficiency of a vehicle across the world. In addition, the increase in per capita income and rise in disposable income are also expected to largely influence the growth of the hub motor for electric vehicle market. Also the rise in environmental concerns is also likely to fuel the demand for electric vehicles and is another driver flourishing the growth of hub motor for electric vehicle market. Additionally, the high adoption for hub motors in the electric vehicles space as well as the rapid rise in production of vehicles with in-wheel electric motors are also anticipated to boost the growth of the hub motor for electric vehicle market in the above mentioned forecast period. Likewise, the enhanced performance of electric vehicle due to hub motor systems along with introduction of advanced technology through high investment in R&D activities are also likely to enhance the growth of the hub motor for electric vehicle market in the above mentioned forecast period.
However, the market of hub motor for electric vehicle 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 can challenge the growth of the hub motor for electric vehicle market.
In addition, the rapid increase in the sales of electric two wheelers across the world and the increase in demand for smart cities and rapid urbanization across the globe are projected to further offer various growth opportunities for the hub motor for electric vehicle market in the forecast period of 2021 to 2028.
This hub motor for electric vehicle 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 the hub motor for electric vehicle 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 for Electric Vehicle Market Scope and Market Size
The hub motor for electric vehicle market is segmented on the basis of vehicle type, drive type, electric vehicle type, cooling type, brake type, torque 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 for electric vehicle market is segmented into passenger vehicle and commercial vehicle.
- The hub motor for electric vehicle market has also been segmented on the basis of drive type into all-wheel drive, front wheel drive and rear wheel drive.
- On the basis of electric vehicle type, the hub motor for electric vehicle market is segmented into battery electric vehicle, plug-in hybrid electric vehicle and hybrid electric vehicle.
- Based on cooling type, the hub motor for electric vehicle market is segmented into water cooled and air cooled.
- On the basis of brake type, the hub motor for electric vehicle market is segmented into regenerative brake and conventional brake.
- Based on torque, the hub motor for electric vehicle market is segmented into less than 700 nm and more than 700 nm.
The distribution channel of the hub motor for electric vehicle market is segmented into aftermarket and OEM.
Hub Motor for Electric Vehicle Market Country Level Analysis
The hub motor for electric vehicle market is analyzed and market size, volume information is provided by country, vehicle type, drive type, electric vehicle type, cooling type, brake type, torque and distribution channel as referenced above.
The countries covered in the 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 for electric vehicle market because of introduction of hub motor with inventive and enhanced features such as high torque density and high power. 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.
The country section of the 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 for Electric Vehicle Market Share Analysis
The hub motor for electric vehicle 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 for electric vehicle market.
The major players covered in the hub motor for electric vehicle report are Schaeffler Group, Michelin, QS MOTOR, Elaphe Propulsion Technologies Ltd., NTN Corporation, TAJIMA EV CORPORATION, TDCM, ZF Friedrichshafen AG,Kolektor, SONA COMSTAR, Protean, Leaf Motor, Robert Bosch GmbH, Siemens, YASA Limited, Evans Electric, Heinzmann GmbH & Co. KG, Accell Group, 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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