According to Stratistics MRC, the Global Hub Motor Market is accounted for $8.48 billion in 2020 and is expected to reach $14.58 billion by 2028 growing at a CAGR of 7.01% during the forecast period. Increasing government purchase incentives for electric two wheelers, enhanced performance of electric vehicle and rise in production of vehicles are driving the market growth. However, lack of awareness and less operating speed are hampering the growth of the market.
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By geography, Asia Pacific is going to have high growth during the forecast period due to the rush in adoption of electric buses in emerging economies of this region. In addition, rising imports and exports of electric vehicles due to rise in pollution and to find alternative to gasoline vehicles that emit huge pollutants in the atmosphere is another factor responsible for the growth of this market in this region.
Some of the key players profiled in the Hub Motor Market include Accell Group, Elaphe Ltd, Enertrac Corporation, Jiashan Neopower International Trade Co, Ltd,Leaf Motor, Luna Cycle, Michelin Group, NTN Corporation, QS Motor, Robert Bosch, Schaeffler technologies AG & CO. KG, Siemens AG, TDCM Corporation and Zero Motorcycles.
Motors Covered:
• Geared Hub Motor
• Gearless Hub Motor
Brakings Covered:
• Regenerative Braking
• Conventional Braking
Products Covered:
• Pedelecs
• Throttle on Demand
Vehicle Types Covered:
• Two-Wheelers
• Three Wheelers
• Four Wheelers
Installations Covered:
• Front Hub Motor
• Rear Hub Motor
Torques Covered:
• Less than 700 Nm
• More than 700 Nm
Drives Covered:
• Front Wheel Drive
• All-Wheel Drive
• Rear Wheel Drive
Method of Cooling’s Covered:
• Water Cooled
• Air Cooled
Electric Vehicle Types Covered:
• Battery Electric Vehicle (BEV)
• Plug in Hybrid Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)
Power Outputs Covered:
• Below 1000 W
• 1000–3000 W
• Above 3000 W
Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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