0
2020
Hub Motor Market

Hub Motor Market by Product (Pedelecs, Throttle on Demand, and Scooter or Motorcycle), Sales Channel (OEM and Aftermarket), and Position (Front Hub Motor and Rear Hub Motor): Global Opportunity Analysis and Industry Forecast, 2019–2026
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A06056
Pages: 237
Mar 2020 | 5963 Views
Author(s) : Lalit Katare & Anvay Sonpimple , Sonia Mutreja
Tables: 104
Charts: 65
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Hub Motor Market Statistics - 2026

The global hub motor market size was valued at $12.25 billion in 2018 and is projected to reach $17.45 billion by 2026, registering a CAGR of 4.4% from 2019 to 2026. Asia-Pacific accounted for the highest share in 2018 and is expected to be the highest contributor to the global hub motor market, in terms of revenue, during the forecast period. 

Hub motor is also known as wheel hub motor, wheel motor, wheel hub drive, and also in-wheel motor. It is an electric motor that is installed in the wheels that drives the wheels directly. The technology used in this system is brushless DC technology, which is a next-generation of DC motor technology in which the mechanical commutation is replaced with the electronic commutation. This eliminates all the contacts between stator and rotor and gives a longer life for the motor. Hub motor offers advantages such as they are easy to install, does not need differential, and are free from any kind of gears and transmission, which in turn increase the operating efficiency of the vehicle as compared to its counterparts.

Hub Motor Market

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The factor such as rise in production of vehicles with in-wheel electric motors drives the growth of the hub motor market. In addition, enhanced performance of electric vehicle due to hub motor systems fuels the growth of market. However, less operating speed and complex structure of hub motors restrain the growth of the market. Furthermore, increase in penetration of electric vehicle globally is expected to offer remarkable growth opportunity for the player operating in the hub motor market.

The global hub motor market is segmented on the basis of product, sales channel, position, and region. Depending on product, the market is divided into Pedelecs, throttle on demand, and scooter or motorcycle. On the basis of sales channel, it is categorized into OEM and aftermarket. By position, it is bifurcated into hub motor and rear hub motor. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players including Schaeffler technologies AG & CO. KG, Robert Bosch GmbH, Hyundai Mobis, Siemens AG, QS Motor, Elaphe Propulsion Technologies Ltd., NTN Corporation, TDCM, MAC Shanghai Electric Motor Company Ltd, Accell Group, and others hold the major hub motor market share.

Hub Motor Market
By Product

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Throttle on demand is projected as the most lucrative segments

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Rise in production of vehicles with in-wheel electric motors

Electric vehicles are driven by in-wheel electric motors that delivers torque independently and directly to the wheels without any differential. In addition, GEM Motors, one of the producers of electric mobility is focusing on development of GEM in-wheel electric motor market for potential customers in Switzerland, Italy, Sweden, Germany, and Italy. In recent years, demand and production of electric vehicles has increased significantly as electric vehicles have several advantages over fuel-powered automobiles. Components such as fan belts, oil, air filters, head caskets, timing belts, cylinder heads, and spark plugs do not require replacement, which in turn makes it cheaper and efficient for fuel-powered automobiles. This makes electric vehicle a preferred choice; thereby, restraining the growth of the fuel-powered automobile market. Thus, growth in production of electric vehicles with in-wheel motors is anticipated to propel the growth of the hub motor market.

Hub Motor Market
By Sales Channel

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OEM is projected as the most lucrative segments

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Enhanced performance of electric vehicle due to hub motor systems

The transmission, axles, differentials, and drive shaft are being replace by in-wheel motor systems, owing to enhanced performance and advantages offered by this system. Vehicles without this system provide stability control and traction by slowing down the wheel, which is spinning faster than required. This approach is slower as it is dependent and limited to application of retarding force. However, hub motors deliver precisely controlled motoring torque or braking in a very small timescale and thus remarkably improves the traction and stability control by limited stopping distance and enhancing vehicle dynamics and safety. Thus, adoption of hub motor enhances the performance of electric vehicle, which in turn is anticipated to propel the growth of the hub motor market. 

Hub Motor Market
By Position

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Front hub motor is projected as the most lucrative segments

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Less operating speed and complex structure of hub motors

High number of magnets are used in the hub motor, which means that the operating speed is less that is around 300 to 500 rpm depending on the application and wheel size. Low operating speed results in the risk of motor cogging torque. Coggin torque is a result of interaction between the permanent magnets of the rotor and the stator slots of permanent magnet machine, which is prominent at lower speed with a symptom of jerkiness. Cogging torque is an undesirable component in the operation of such motor. This cogging torque results in speed ripple and at high speed the moment of inertia of motor filters out the effect of cogging torque. In addition, as the motors are present in the wheel, the electrical connection must be between body and wheel making the harness connection more complex and stressed, and increases the risk of fire hazard. Thus, less operating speed and complex structure of hub motors are expected to hinder the growth of the hub motor market.

Increase in penetration of electric vehicles

In recent years, the demand and production of electric vehicles has increased significantly as electric vehicles have several advantages over fuel-powered automobiles. Components such as fan belts, oil, air filters, head caskets, timing belts, cylinder heads, and spark plugs do not require replacement, which in turn makes it cheaper and efficient for fuel-powered automobiles. This makes electric vehicle a preferred choice; thereby, restraining the growth of the fuel-powered automobile markets. In addition, automobile manufacturers are focusing toward the development of electric vehicle with hub motor, owing to improved vehicle dynamics and traction control. Thus, growth in production of electric vehicles is anticipated to offer lucrative growth opportunity for the players operating in the hub motor market. 

Hub Motor Market
By Region

2026
Asia-pacific 
North America
Europe
Lamea

Europe would exhibit the highest CAGR of 5.6% during 2019-2026.

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Key Benefits for Stakeholders:

  • This study presents the analytical depiction of the global hub motor market analysis along with the current trends and future estimations to depict the imminent investment pockets.

  • The overall hub motor market opportunity is determined by understanding the profitable trends to gain a stronger foothold.

  • The report presents information related to the key drivers, restraints, and opportunities of the global market with a detailed impact analysis.

  • The current hub motor market is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.

  • Porter’s five forces analysis illustrates the potency of buyers and suppliers in the hub motor industry.

Key Market Segments & Key Market Players

Segments Sub-segments
By Product Type
  • Pedelecs
  • Throttle on Demand
  • Scooter or Motorcycle

By Sales Channel
  • Original equipment manufacturer (OEM)
  • Aftermarket

By Position
  • Front Hub Motor
  • Rear Hub Motor

By Region
  • North America
    • U.S
    • Canada
    • Mexico
  • Europe
    • U.K
    • Netherlands
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Vietnam
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players
  • Schaeffler technologies AG & CO. KG
  • Robert Bosch GmbH
  • HYUNDAI MOBIS
  • Siemens AG
  • QS Motor
  • Elaphe Propulsion Technologies Ltd.
  • NTN Corporation
  • TDCM
  • MAC Shanghai Electric Motor Company Ltd.
  • Accell Group
 

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Hub motor, also known as in-wheel motor, wheel motor, or wheel hub drive, is an electric motor that in installed in hub of the wheel. In addition, these types of motors are majorly used in electric bicycles and exhibit remarkable rise in different applications such as commercial vehicles and electric cars.

Rise in production of vehicles with in-wheel electric motors drives the growth of the hub motor market. In addition, enhanced performance of electric vehicle due to hub motor systems is expected to fuel the growth of the market. However, less operating speed and complex structure of hub motors restrain the growth of the market. Further, increase in penetration of electric vehicle globally is expected to offer remarkable growth opportunity for the players operating in the hub motor market.

Among the analyzed regions, currently, Asia-Pacific is the highest revenue contributor and is anticipated to exhibit remarkable growth rate during the forecast period, followed by Europe, North America, and LAMEA.

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FREQUENTLY ASKED QUESTIONS?

A. Business expansion and product launch are new competitive developments in hub motor market.

A. The global automotive hub motor market was valued at $12,247.14 million in 2018, and is projected to reach $17,453.11 million by 2026, registering a CAGR of 4.4% from 2019 to 2026

A. The report sample for hub motor market report can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.

A. E-bike manufacturers and electric vehicle manufacturers are the potential customers of the hub motors.

A. The leading players in market of hub motors Schaeffler technologies AG & CO. KG, Robert Bosch GmbH, Hyundai Mobis, Siemens AG, QS Motor, Elaphe Propulsion Technologies Ltd., NTN Corporation, TDCM, MAC Shanghai Electric Motor Company Ltd, Accell Group.

A. The data of the top market players of hub motor market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the hub motor marekt as well as their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.

A. Europe will provide more business opportunities for hub motor in future.

A. Schaeffler technologies AG & CO. KG, Robert Bosch GmbH, Hyundai Mobis, Siemens AG, QS Motor, Elaphe Propulsion Technologies Ltd., NTN Corporation, TDCM, MAC Shanghai Electric Motor Company Ltd, Accell Group are the service providers of hub motor industry.

A. Business expansion and product launch are the key growth strategies of hub motor industry players.

A. Due to the government imposed lockdown and unavailability of skilled workers, the hub motor manufacturers has halted the manufacturing process, which in turn result in the significant deline in the hub motor market.

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