According to the latest report by IMARC Group, titled “Hub Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global hub motor market size exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026.
A hub motor is an electric motor integrated into the wheels of a vehicle. It is majorly differentiated into geared and gearless hub motors. It is an independent drive system that converts the electric energy stored in a battery pack into rotatory motion. This system minimizes the contact between the stator and rotor, thereby reducing engine load and enhancing the operational efficiency of the vehicle. A hub motor offers easy installation, generates more power, requires minimal maintenance, and eliminates the need for gear and transmissions.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Hub Motor Market Trends:
The widespread utilization of hub motors in the manufacturing of electric vehicles (EVs) represents the key factor driving the market growth. This can be attributed to the rising environmental consciousness, which is facilitating the demand for EVs, thus accelerating the market growth of hub motors across the globe. The rising demand for efficient and lightweight vehicles is acting as another major growth-inducing factor. Product innovations, such as hub motors with improved thermal management, along with the increasing adoption of rear hub motors for enhanced traction control, are some of the other factors creating a positive outlook for the market.
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Global Hub Motor Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Player:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- Accell Group N.V
- Cutler MAC (Shanghai) Brushless Motor Co. Ltd
- Elaphe Propulsion Technologies Ltd
- Heinzmann GmbH & Co. KG
- Leaf Motor
- NTN Corporation
- QS Motor
- Schaeffler technologies AG & CO. KG
- Tajima Motor Corporation
- TDCM
Breakup by Installation:
- Front Hub Motor
- Rear Hub Motor
Breakup by Vehicle Type:
- E-bikes
- Electric Two-wheelers
- Passenger Cars
- Others
Breakup by Motor Type:
- Geared
- Gearless
Breakup by Power Output:
- Below 1000 W
- 1000–3000 W
- Above 3000 W
Breakup by Sales Channel:
- OEM
- Aftermarket
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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