Industry Background:
A hub motor is an electric motor, which is incorporated into the hub of the wheel and drives it directly. It is also known as wheel hub motor, wheel motor, wheel hub drive, as well as in-wheel motor. In it, the brushless dc technology is primarily used, as it is the next generation of DC motor technology where the mechanical commutation is replaced with electronic commutation. This technology removes all the contacts between stator and rotor and offers longer life for the motor. Based on the vehicle type, the market has been segmented into E-Bikes, E-Scooters/Mopeds, and E-Motorcycles.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | QS Motor (China), Schaeffler (Germany), Michelin Group (France), Jiashan Neopower International Trade (China), Elaphe Ltd (Slovenia), NTN Corp. (Japan), Tajima EV (Japan), TDCM Corporation (Taiwan), Go Swissdrive (Switzerland), MAC Motor (China), Leaf Motor (China) and Robert Bosch (Germany) |
According to AMA, the market for Hub Motors is expected to register a CAGR of 5.0% during the forecast period to 2030. This growth is primarily driven by Increased Performance Efficiency of a Vehicle, Increasing Global Sales and Demand for Electric Two-Wheelers and Vehicles and Increases Range of a Vehicle.
Globally, a noticeable market trend is evident
The Auto Parts & Equipment sector in the Asia Pacific region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as QS Motor (China), Schaeffler (Germany), Michelin Group (France), Jiashan Neopower International Trade (China), Elaphe Ltd (Slovenia), NTN Corp. (Japan), Tajima EV (Japan), TDCM Corporation (Taiwan), Go Swissdrive (Switzerland), MAC Motor (China), Leaf Motor (China) and Robert Bosch (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on production technologies, efficiency enhancement, and product life. This market has various growth opportunities that leading players capture via tracking the ongoing process enhancement and huge investment in market growth strategies.
Key Developments in the Market:
In June 2022, Lightyear developed the most efficient production powertrain in the world with the collaboration of Elaphe. Lightyear's partnership with Elaphe on the in-wheel motor platform was made public with the introduction of the Lightyear 0 vehicle, the first solar car in the world that is ready for mass production.
On 18 Jan 2020, Hanseatische Fahrzeug Manufaktur GmbH (HFM), a global company specializing in the development of highly complex mechatronics systems for electric and autonomous vehicles, has joined forces with Elaphe, the leading company in the area of in-wheel motor technology.
Market Growth Drivers:
Increased Performance Efficiency of a Vehicle, Increasing Global Sales and Demand for Electric Two-Wheelers and Vehicles and Increases Range of a Vehicle
Challenges:
Increase in Unsprung Weight of the Wheel and High Cost of the Product
Restraints:
Mid-Drive Motors as an Alternative Option
Opportunities:
Increasing Sales of Electric Two Wheelers Globally
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Hub Motors Market
- Analysis about New Entrants in Hub Motors Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Hub Motors Study Sheds Light on
The Hub Motors Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Hub Motors industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Hub Motors industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.