USD 10.8 million
Hub Motor Market Size, Share, Growth Analysis, By Product(Pedelecs, Throttle on Demand, Scooter or Motorcycle), By Position(Front Hub Motor, and Rear Hub Motor), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20D2193 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
72
Hub Motor Market Insights
Hub Motor Market size was valued at USD 10.8 million in 2021 and is poised to grow from USD 11.32 million in 2022 to USD 16.47 million by 2030, growing at a CAGR of 4.8% in the forecast period (2023-2030).
Hub motors represent a specialized category of motor-generator units strategically integrated into a vehicle's wheels to optimize efficiency and performance. These motors are purpose-built for electric vehicles, aimed at alleviating the load on the engine and maximizing overall vehicle performance. Positioned adjacent to the drive wheels, hub motors function as in-wheel motors, directly propelling the wheels via a compact drive shaft, thereby eliminating any delay or lag. This immediate power transmission facilitates precise control and responsiveness, ensuring a seamless system. The hub motor configuration comprises essential components such as a battery pack, fuel cell, and generator. This setup harnesses electric energy from the battery, converting it into rotational motion to drive the wheels. An intriguing aspect of this design is its absence of gears, ensuring a smoother and more efficient power distribution. Furthermore, by minimizing contact between the rotor and stator, the motor's lifespan is extended, leading to enhanced durability and reliability. One of the prominent advantages of hub motors lies in their streamlined electronic commutation process, negating the requirement for intricate drivelines, differentials, and axles. This results in minimal mechanical losses and simplified installation, rendering them suitable for powering internal combustion engines as well. Additionally, the presence of distinct motors for each wheel permits independent torque control, augmenting vehicle maneuverability and stability. Hub motors rely on brushless DC technology, a contemporary motor technology that employs electronic commutation instead of mechanical commutation. This innovation not only prolongs the motor's operational lifespan but also eradicates any physical contact between the stator and rotor, thereby minimizing wear and tear. The hub motor market has experienced remarkable growth, primarily driven by the increased adoption of electric vehicles, particularly in the two-wheeler segment. With continuous technological advancements and heightened competition, the market is poised for further expansion, playing a pivotal role in promoting a cleaner and more sustainable future of transportation.
US Hub Motor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Pedelecs
Fastest Growth
Pedelecs
Growth Rate
4.8% CAGR
Global Hub Motors Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Hub Motor Market Segmental Analysis
The global hub motor market is segmented on the basis of Product, Sales channel, Position and region. By Product, the market is segmented into Pedelecs, Throttle on Demand, and Scooter or Motorcycle. By Sales channel, the market is segmented into OEM, Aftermarket. By Position, the market is segmented into Front Hub Motor, Rear Hub Motor. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Hub Motor Market Analysis By Product
The Pedelecs segment is the dominant in the hub motor market. Pedelecs, also known as e-bikes, have gained significant popularity worldwide due to their ease of use and ability to assist riders while pedaling. These electric bicycles typically have a sensor that detects the rider's pedaling motion and provides electric assistance accordingly. The popularity of Pedelecs is driven by their suitability for various user demographics, including commuters, recreational riders, and fitness enthusiasts.
On the other hand, the fastest growing segment is the Scooter market. Electric scooters have experienced remarkable growth in urban transportation due to their compact size, convenience, and eco-friendly nature. Governments and cities have also been promoting electric scooters as a sustainable alternative to traditional internal combustion engine scooters, leading to increased adoption rates. The scooter market has seen substantial investment from various companies, leading to the development of more advanced and affordable electric scooters.
Hub Motor Market Analysis By Position
The front hub motor is mounted in the front wheel of the e-bike, providing power directly to the front wheel. This type of motor is the dominant segment due to its simplicity and ease of installation. Front hub motors offer benefits such as straightforward handling, cost-effectiveness, and a relatively smooth riding experience. However, one of the main limitations is that it may lead to imbalanced weight distribution on the bike, especially when climbing steep hills, potentially reducing traction on the front wheel.
On the other hand, the rear hub motor is positioned in the rear wheel of the e-bike, which allows for a more balanced weight distribution and better traction, especially when going uphill. Rear hub motors have gained popularity due to their improved performance and handling characteristics compared to front hub motors. As a result, the rear hub motor segment has been the fastest-growing segment in the e-bike market. E-bike manufacturers and consumers have been increasingly adopting rear hub motors for their enhanced overall riding experience.
Global Hub Motors Market By Product
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Hub Motor Market Regional Insights
The global hub motor market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia Pacific is the dominant segment in the hub motor market. Countries like China, India, and Japan have been major contributors to the production and consumption of hub motors. China, in particular, has been a significant player in this market due to its large-scale manufacturing capabilities and the growing popularity of electric bikes and scooters in the region.
On the other hand, Europe is one of the fastest-growing segments in the hub motor market. The demand for electric bikes and scooters has been steadily increasing in European countries as they embrace environmentally friendly transportation solutions. Additionally, the European Union's strict emission regulations and government incentives for electric mobility have contributed to the rapid growth of the hub motor market in the region.
Global Hub Motors Market By Geography
- Largest
- Fastest
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Hub Motor Market Dynamics
Hub Motor Market Drivers
Growing Electric Vehicle (EV) Market:
- The rise in popularity and demand for electric vehicles, including electric bikes, scooters, and electric cars, has been a major driver for the hub motor market. Hub motors are commonly used in EVs due to their compact design, efficient power delivery, and regenerative braking capabilities.
Advantages of Hub Motors:
- Hub motors offer several advantages, including simplified vehicle design, reduced maintenance needs, and increased energy efficiency. These benefits have attracted manufacturers and consumers alike, driving the adoption of hub motors in various electric mobility applications.
Hub Motor Market Restraints
High Cost:
- Despite the advantages they offer, hub motors can be more expensive than traditional motors, especially in higher power and performance categories. The higher manufacturing and material costs associated with hub motors have presented a restraint for widespread adoption, particularly in price-sensitive markets.
Limited Performance in Some Applications:
- While hub motors are suitable for many urban mobility and light electric vehicles, they may not be the best choice for high-performance applications such as electric sports cars or heavy-duty electric vehicles. In some cases, the performance and power output of hub motors may not meet the requirements of certain niche markets.
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Hub Motor Market Competitive Landscape
The global hub motor market exhibited a highly competitive landscape with several key players vying for market share. Established automotive and electric bike manufacturers faced stiff competition from innovative startups specializing in electric mobility solutions. The market was characterized by continuous technological advancements, improved power-to-weight ratios, and enhanced efficiency. Additionally, stringent environmental regulations and the growing demand for eco-friendly transportation solutions drove further competition and investment in hub motor technologies. The market's competitive nature encouraged companies to focus on research and development, resulting in a dynamic and rapidly evolving industry.
Hub Motor Market Top Player’s Company Profile
- Accell Group N.V. – (Netherlands)
- Cutler MAC (Shanghai) Brushless Motor Co. Ltd – (China)
- Elaphe Propulsion Technologies Ltd. – (Slovenia)
- Evans Electric – (UK)
- Heinzmann GmbH & Co. KG – (Germany)
- Kolektor – (Slovenia)
- Leaf Motor – (China)
- NTN Corporation – (Japan)
- Printed Motor Works – (UK)
- NSK Ltd. – (Japan)
- QS Motor – (China)
- Robert Bosch GmbH – (Germany)
- Siemens AG – (Germany)
- Schaeffler Technologies AG & Co. KG – (Germany)
- Tajima Motor Corporation – (Japan)
- TDCM – (Japan)
- ZIEHL-ABEGG – (Germany)
Hub Motor Market Recent Developments
- In June 2022, Lightyear and Elaphe announced a partnership to develop the most efficient production powertrain in the world. The powertrain will use Elaphe's in-wheel motors, which are known for their high efficiency and performance.
- In July 2022, HEINZMANN, a German manufacturer of electric motors, announced the launch of its new line of hub motors. The new motors are designed for a variety of applications, including electric vehicles, e-bikes, and scooters.
- In August 2022, the Chinese company BYD announced that it will be using hub motors in its new electric car, the Dolphin. The Dolphin is a small, affordable electric car that is expected to be popular in China.
Hub Motor Key Market Trends
Increased Adoption of Electric Vehicles (EVs) and E-bikes:
- The global push towards sustainability and reducing carbon emissions has been driving the adoption of electric vehicles and e-bikes. Hub motors played a significant role in this trend because they offered a clean and efficient propulsion system, making them popular choices for electric bicycles, scooters, and some electric cars. The demand for hub motors was expected to rise in tandem with the growing popularity of electric transportation solutions.
Advancements in Hub Motor Technology:
- As the demand for electric vehicles and e-bikes increased, manufacturers were investing more in research and development to improve hub motor technology. Key areas of focus included increasing power output, enhancing efficiency, reducing weight, and developing smarter control systems for better performance and safety. Advancements in battery technology also played a role in driving improvements in hub motor capabilities as higher-capacity batteries enabled longer range and increased power delivery.
Hub Motor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global hub motor market analysis, the market will show significant growth due to rising demand for electric vehicles (EVs) and e-bikes. Hub motors offer compactness, efficiency, and simplified integration, driving their adoption. Advancements in battery technology and government incentives for eco-friendly transportation also contribute to market expansion. Major players in the industry continue to invest in research and development to improve motor performance and reduce costs. Additionally, the increasing awareness of environmental issues and a shift towards sustainable transportation solutions further propel the hub motor market. However, challenges like limited range and charging infrastructure hinder full-scale market penetration. Despite these obstacles, the hub motor market is poised for continued growth in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 10.8 million |
| Market size value in 2030 | USD 16.47 million |
| Growth Rate | 4.8% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hub Motor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hub Motor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hub Motor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hub Motor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hub Motor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hub Motor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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