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Global Hub Motor Market Analysis, Share, Trends, Forecast: By Vehicle Type: E-Bike, E-Scooter, E-Motorcycles; By Installation Type: Front Hub Motor, Rear Hub Motor; By Output: Below 1000W, 1000-3000W, Above 3000W; By Distribution Channel: OEM, Aftermarket; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Hub Motor Market Outlook
The global hub motor market attained a value of about USD 9.55 billion in 2023. The market is further expected to grow at a CAGR of 5.3% during the forecast period of 2024-2032 to reach approximately USD 15.23 billion by 2032.
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Enhanced Performance of Vehicles with Hub Motor is Boosting the Market Growth of Hub Motor
The growth in the global market for hub motor can be attributed to the rising number of electric vehicles. Hub motor is integrated into a vehicle’s wheel hub and uses electric energy stored in the battery by converting it into rotary motion. In addition, the growth in the market can be associated with favourable factors such as easy installation of a hub motor, cost-effectiveness, and as hub motors are free from gears and transmissions, they increase the overall efficiency of the vehicle.
Furthermore, the flexibility, compact and lightweight designs, high power efficiency and elasticity that reduces the maintenance costs and provides a smooth driving experience are further adding to the market growth of hub motors. In addition to this, hub motors in electric vehicles minimise the requirement for axles, transmissions, and drivelines, hence aiding the reduction of mechanical losses between the components of wheel and engine, thereby resulting in a quieter vehicle by reducing noise generation. Therefore, these factors are contributing to the market growth of hub motors.
Hub Motor: Market Segmentation
A hub motor is an electrical motor attached to the wheels of a two-wheeled electronic vehicle. It is also known as wheel hub motor, wheel motor, wheel hub drive, and in-wheel motor, and is installed to achieve a high level of flexibility and efficiency.
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The market, on the basis of vehicle type, can be divided into:
- E-Bike
- E-Scooter
- E-Motorcycles
Based on installation type, the market can be divided into:
- Front Hub Motor
- Rear Hub Motor
On the basis of output, the market can be categorised into:
- Below 1000W
- 1000-3000W
- Above 3000W
Based on distribution channel, the market can be segmented into:
- Original equipment manufacturer (OEM)
- Aftermarket
The EMR report looks into the regional markets of hub motor like North America, Latin America, the Asia Pacific, Europe and the Middle East and Africa.
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Rising Penetration of E-Vehicles to Augment the Market Growth of Hub Motor
The global market for hub motors is being propelled by the emergence of electronic vehicles around the world as a result of rising environmental concerns. Electric vehicles are driven by in-wheel electric motors that deliver torque independently to the wheel without any differential, thus augmenting the market for hub motor. Furthermore, the rising demand for electric vehicles can be attributed to the rising consumer awareness regarding the negative impacts of fuel-powered automobiles, including high combustion rates, depleting natural resources, and air pollution.
Furthermore, rear-hub motors are installed in e-bikes to achieve high power, smooth acceleration, and better traction, thus contributing to the growth of the market. Moreover, favourable government policies and investments for the production of pollution-free electronic vehicles and the expansion of key market players in the industry are furthering the market growth of hub motor. Hence, the increase in a number of electronic vehicles is robustly driving the market for hub motors.
Key Industry Players in the Global Hub Motor Market
The report presents a detailed analysis of the following key players in the global hub motor market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.
- Schaeffler Technologies AG & Co. KG
- QS Motor Ltd
- Elaphe Propulsion Technologies Ltd.
- Robert Bosch GmbH
- Accell Group N.V.
- Others
The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Vehicle Type, Installation Type, Output, Distribution Channel, Region |
| Breakup by Vehicle Type | E-Bike, E-Scooter, E-Motorcycles |
| Breakup by Installation Type | Front Hub Motor, Rear Hub Motor |
| Breakup by Output | Below 1000W, 1000-3000W, Above 3000W |
| Breakup by Distribution Channel | Original equipment manufacturer (OEM), Aftermarket |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Schaeffler Technologies AG & Co. KG, QS Motor Ltd, Elaphe Propulsion Technologies Ltd., Robert Bosch GmbH, Accell Group N.V., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Hub Motor Market Analysis
8.1 Key Industry Highlights
8.2 Global Hub Motor Historical Market (2018-2023)
8.3 Global Hub Motor Market Forecast (2024-2032)
8.4 Global Hub Motor Market by Vehicle Type
8.4.1 E-Bike
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 E-Scooter
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 E-Motorcycles
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Hub Motor Market by Installation Type
8.5.1 Front Hub Motor
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Rear Hub Motor
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Hub Motor Market by Output
8.6.1 Below 1000W
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 1000-3000W
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Above 3000W
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Hub Motor Market by Distribution Channel
8.7.1 Original equipment manufacturer (OEM)
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Aftermarket
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Hub Motor Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Hub Motor Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Hub Motor Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Hub Motor Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Hub Motor Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Hub Motor Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Schaeffler Technologies AG & Co. KG
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 QS Motor Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Elaphe Propulsion Technologies Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Robert Bosch GmbH
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Accell Group N.V.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Hub Motor Market: Key Industry Highlights, 2018 and 2032
2. Global Hub Motor Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
3. Global Hub Motor Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
4. Global Hub Motor Historical Market: Breakup by Installation Type (USD Million), 2018-2023
5. Global Hub Motor Market Forecast: Breakup by Installation Type (USD Million), 2024-2032
6. Global Hub Motor Historical Market: Breakup by Output (USD Million), 2018-2023
7. Global Hub Motor Market Forecast: Breakup by Output (USD Million), 2024-2032
8. Global Hub Motor Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
9. Global Hub Motor Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
10. Global Hub Motor Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Hub Motor Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Hub Motor Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Hub Motor Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Hub Motor Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Hub Motor Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Hub Motor Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Hub Motor Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Hub Motor Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Hub Motor Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Hub Motor Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Hub Motor Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Hub Motor Market Structure
Key Questions Answered in the Report
The global hub motor market attained a value of nearly USD 9.55 billion in 2023.
The market is projected to grow at a CAGR of 5.3% in the forecast period of 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 15.23 billion by 2032.
The rising demand for hub motors due to their favourable features and the growing popularity of electric vehicles are the major market drivers.
Technological advancements and innovations, the introduction of favourable government policies aimed at fuelling the use of environmentally friendly vehicles, and the growing awareness regarding the benefits of electric vehicles are the key trends propelling the market.
The major regional markets for hub motor are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
E-bike, e-scooter, and e-motorcycle are the different vehicle types considered in the market report.
The major installation types of hub motor are front hub motor and rear hub motor.
The various outputs of hub motor are below 1000W, 1000-3000W, and above 3000W.
The significant distribution channels of hub motor are original equipment manufacturer (OEM) and aftermarket.
The key hub motor market players include Schaeffler Technologies AG & Co. KG, QS Motor Ltd, Elaphe Propulsion Technologies Ltd., Robert Bosch GmbH, and Accell Group N.V., among others.
Analyst Review
The global hub motor market attained a value of about USD 9.55 billion in 2023, driven by cost effectiveness of hub motor. Aided by the rising penetration of electronic vehicles, the market is expected to grow at a CAGR of 5.3% in the forecast period of 2024-2032 to reach approximately USD 15.23 billion by 2032.
EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. On the basis of vehicle type, the market can be segmented into e-bike, e-scooter, and e-motorcycles. On the basis of installation type, the market can be divided into front hub motor and rear hub motor. Based on output, the market can be classified into 1000W, 1000-3000W, and above 3000W. On the basis of distribution channels, the market segmentations include original equipment manufacturer (OEM), and aftermarket. The major regional markets for hub motor are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. They key players in the industry are Schaeffler Technologies AG & Co. KG, QS Motor Ltd, Elaphe Propulsion Technologies Ltd., Robert Bosch GmbH, and Accell Group N.V., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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