Global Two-wheeler Hub Motor Market Projected to Reach USD 15.67 Billion by 2026

27-Jul-2021 | Facts and Factors

As per the Facts and Factors research report, the global two-wheeler hub motor market was estimated to have generated sales revenue of USD 8.9 Billion in 2020. By 2026, the two-wheeler hub motor market is anticipated to generate revenue of USD 15.67 Billion, increasing at a CAGR of around 9.7% from 2021 to 2026.

Automotive hub motors are electric motors fitted to a vehicle's wheels and designed to drive directly with more flexibility and efficiency. It lessens vehicle weight, and hub motor cars are less technically complex than conventional automobiles. Hub motors for two-wheelers, create considerable torque at low rpms. Hub motors on two-wheelers act as a generator as it functions as a brake. Governments all around the world are concerned about the increasing rate of environmental degradation caused by automotive emissions. As a result, a number of governments are taking initiatives to encourage people to switch from traditional automobiles to environmentally friendly modes of transportation. As a result, the government has announced incentives for both manufacturers and end-users on road tax, purchase tax, import tax, and cheap or no registration fees for electric two-wheelers.

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Top Market Players

The key players in the two-wheeler hub motor market are NTN Corporation, QS Motor, TDCM, Heinzmann GmbH, and Co. KG., Schaeffler Technologies AG, Mac Shanghai Electric Motor Company Ltd, and Co. KG,  Robert Bosch GmbH, and Elaphe Propulsion Technologies Ltd., Evans Electric, GoGoA1, TVS Motors, Ziehl-Abegg, Protean Electric, Hyundai Mobis, Kolektor, and Printed Motor Works, among others.

Report Scope

Report Attributes

Details

Market Size in 2020

USD 8.9 Billion

Projected Market Size in 2026

USD 15.67 Billion

Growth Rate

CAGR 9.7%

Base Year

2020

Forecast Years

2021 – 2026

Key Market Players

NTN Corporation, QS Motor, TDCM, Heinzmann GmbH, and Co. KG., Schaeffler Technologies AG, Mac Shanghai Electric Motor Company Ltd, and Co. KG, Robert Bosch GmbH, and Elaphe Propulsion Technologies Ltd., Evans Electric, GoGoA1, TVS Motors, Ziehl-Abegg, Protean Electric, Hyundai Mobis, Kolektor, and Printed Motor Works, among others.

Key Segment

By Vehicle Type, By Installation, By Motor, By Power Output, By Sales Channel, By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Increased In Demand Of Electric Two-Wheelers Is Driving The Market Of Two-Wheeler Hub Motor

The hub motor is currently gaining popularity in electric vehicles because of its features such as flexibility, lightweight, elasticity, high power efficiency, and compact sizes, which help to reduce maintenance costs and provide a better driving experience. Furthermore, by eliminating the main engine in electric cars, two-wheeler hub motors reduce the requirement for axles, transmissions, and drivelines. As a result, it aids in the reduction of mechanical losses in all components between the wheel and the engine, resulting in a quieter operating vehicle with reduced noise generation.

In view of rising worries about quick ecological debasement owing to rising fossil fuel by-products from customary fuel-based vehicles, sales of electric bikes have increased lately. Besides, numerous legislatures are logically favoring electric bikes to customary light engine vehicles (LMVs), supporting the bike center point engine industry's income development. Besides, automakers are relied upon to make critical consumptions to fulfill the developing need for electric bikes. This is projected to proliferate the market's advancement positively.

North America Region Dominates the Global Two-wheeler Hub Motor Market

Based on region, the market is divided into five major regions; North America, Europe, Latin America, Asia Pacific, and The Middle East, and Africa. Due to increased demand for electric vehicles in countries like Canada and the United States, North America is expected to expand at the fastest CAGR over the projection period. Furthermore, new vehicle releases in the United States by prominent original equipment manufacturers (OEMs) such as Zero Motorcycles, Harley-Davidson, LUNA CYCLE, Xiaomi and Victory Motorcycles are expected to boost regional demand. The Asia Pacific is expected to grow at the fastest rate over the forecast period. China, Japan, India, and South Korea are likewise significant drivers of market development in the Asia Pacific. Moreover, owing to the presence of significant bike centre engine makers, China is the largest market for bike centre engines in Asia Pacific.

Browse the full report “Two-wheeler Hub Motor Market By Vehicle Type (Electric Scooter/Moped, Electric Bike, Electric Motorcycle, and Others), By Installation (Front Hub Motor, and Rear Hub Motor), By Motor (Geared Hub Motor, and Gearless Hub Motor), By Power Output (Below 1 kW, 1-3 kW, and Above 3 kW), By Sales Channel (OEM, and Aftermarket): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/two-wheeler-hub-motor-market

The global two-wheeler hub motor market is segmented as follows:

By Vehicle Type:

  • Electric Scooter/Moped
  • Electric Bike
  • Electric Motorcycle
  • Others

By Installation:

  • Front Hub Motor
  • Rear Hub Motor

By Motor:

  • Geared Hub Motor
  • Gearless Hub Motor

By Power Output:

  • Below 1 kW
  • (1-3) kW
  • Above 3 kW

By Sales Channel:

  • OEM
  • Aftermarket

By Region:

  • North America
    • The U.S.
    • Canada
  • Europe
    • The UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

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