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), Sales Channel (Aftermarket, OE Market), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Hub Motor Market
Global hub motor market is expected to rise from its initial estimated value of USD 7.75 billion in 2018 to an estimated value of USD 11.58 billion by 2026, registering a CAGR of 5.15% in the forecast period of 2019-2026. This rise in market value can be attributed to the increased demand of electric vehicles and two-wheelers.
Market Definition: Global Hub Motor Market
Hub motors are motor power generators that are installed on the wheels of the vehicles that are utilized for the improvement in efficiency and performance of the vehicles. They are installed on the wheels of the electric vehicles so that the load on the engine is reduced and the performance of the vehicle is improved.
- Increased performance efficiency and capabilities of vehicles due to its usage is expected to drive the market growth
- Increasing global sales and demand of electric two-wheelers and vehicles is also expected to drive the market growth
- High cost of these motors is expected to restrain the market growth
- Availability of substitutes in the market is also expected to act as a restraint to the market growth
Segmentation: Global Hub Motor Market
- By Vehicle Type
- By Installation Type
- Front Hub Motor
- Rear Hub Motor
- By Motor Type
- Gearless Hub Motor
- Geared Hub Motor
- By Output Type
- Below 1000W
- Above 3000W
- By Sales Channel
- OE Market
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In May 2018, Elaphe Ltd. launched the second generation Elaphe L1500 in-wheel motor at The Electric and Hybrid Vehicle Technology Expo Europe 2018 in Hannover, Germany. The motor is capable of providing higher torque and braking capabilities to bigger vehicles.
- In October 2017, NTN Corporation announced the development of an “eHUB”, industry’s first motor generator utilizing hub bearing for wheel rotation. It is developed with the aim to reduce the power load on the engines and uses its own power while deaccelerating.
Competitive Analysis: Global Hub Motor Market
Global hub motor market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of hub motor market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Hub Motor Market
Few of the major competitors currently working in the hub motor market are QS MOTOR, Schaeffler AG, MICHELIN, JIASHAN NEOPOWER INTERNATIONAL TRADE CO.LTD., Elaphe Ltd., NTN Corporation, TAJIMA EV, TDCM, GO SwissDrive, MAC SHANGHAI ELECTRIC MOTOR COMPANY LTD., Leaf Motor, Robert Bosch GmbH, Specialized Bicycle Components, Trek Bicycle Corporation, Zero Motorcycles Inc., LUNA CYCLE, Heinzmann GmbH & Co. KG, Accell Group, Fuji-ta Bicycle Co.Ltd., MERIDA BIKES, and UU Motor Technology Co. Limited.
Research Methodology: Global Hub Motor Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved