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Allied Market Research

Two-Wheeler Hub Motor Market by Vehicle Type (Electric Bike, Electric Scooter and Electric Motorcycle), Sales Channel (OEM and Aftermarket), Installation (Front and Rear), Power Output (Below 1 kW, (1-3) kW, and Above 3 kW), and Motor (Gearless and Geared): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12288
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Sep 2021 | 66 Views
   
Author(s) : Sonia Mutreja
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COVID-19

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Two-Wheeler Hub Motor Market Outlook 2030 -

Automotive hub motor is an electrical motor attached to the wheels of two-wheeler which provide traction by converting electric power to motive power having higher efficiency and flexibility. It reduces the weight of the vehicle, and vehicles power-driven by hub motors are mechanically less complex than conventional motors. Moreover, similar to electric motors, hub motors for two-wheelers generate high torque at low rpms. Through direct connection low-speed with high torque can be attained however incorporation of wheel hub with an additional gearbox facilitate speed and torque as per requirement. Furthermore, hub motors for two wheelers can also work as generator while braking. In addition, two-wheeler hub motor helps in reducing the fuel consumption, lowers maintenance costs and extends the life of two-wheeler. Two-wheeler hub motor is a significant step towards vehicular emission control due to its compact size, flexibility, energy efficiency, and light.

Market Scope and Structure Analysis:

Report Metric

Details

 Market size available for years

 2020–2030

 Base year considered

 2020

 Forecast period

 2021–2030

 Forecast units

 Value (USD)

 Segments covered

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

 Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)

 Companies covered

QS MOTOR, MAC SHANGHAI ELECTRIC MOTOR COMPANY LTD, Bonfiglioli Riduttori S.p.A, NTN Corporation, Heinzmann GmbH & Co. KG, Robert Bosch GmbH, Schaeffler Technologies AG & Co. KG, Elaphe Propulsion Technologies Ltd., Protean Electric, and Hyundai Mobis


COVID-19 Impact Analysis:

The suppliers of two-wheeler hub motor across the globe have been affected severely due to the restrictions as well as the declared lockdowns which in turn is affecting the hub-motor manufacturers worldwide. As the governments all over the world have declared lockdowns over the past few months, the demand and supply cycle of many hub motor manufacturers is vulnerable since closure of factories. This has caused a major deviation in the growth of two-wheeler hub motor market. Moreover, the supply of electric components required for hub motor manufacturing was disrupted thus, halting the production of hub motor.  Also, COVID-19 had a positive impact on electric vehicles thus it is expected that two-wheeler hub motor market will boost after the pandemic.    

Top Impacting Factors

  • Rise in stringent government regulations regarding vehicle emission, reduces fuel consumption, and rise in various government initiatives to adopt electric vehicles is expected to drive growth of two-wheeler hub motor market.
  • However, lack of awareness about hub motor and high cost of two-wheeler hub motor will hamper growth of two-wheeler hub motor market.
  • Moreover, rise in demand for electric vehicle, lower maintenance cost, and rise in demand for electric vehicles with better vehicle performance act as an opportunity for growth of two-wheeler hub motor market.

Market Trends

Rise in demand for electric vehicles with better vehicle performance

Currently, in electric vehicles hub motor is gaining popularity for its improved driving experience and more power. Since, the power is directly transmitted form the battery to the wheels it reduces the transmission distance and any loss of power while increasing the engine efficiency. Moreover, hub motors are brushless DC motor which allows independent driving and regenerative breaking. These features act as an opportunity for growth of two-wheeler hub motor market.

Rise in stringent government regulations regarding vehicle emission

Many countries such as India and China are taking measures to reduce environmental pollution thus, promoting the adoption of electric vehicles. According, to US Environmental Protection Agency 26% of the total greenhouse gas emission are from automotive & transportation sector. For instance, India is aiming to completely phase out petrol and diesel by 2030 and China is also planning to put a ban on the sale and production of fossil fuel vehicles. Therefore, rise in sale of electric vehicle will drive growth of two-wheeler hub motor market

Key Segments Covered:

Segments

Sub-segments

 Vehicle Type

  • Electric Bike
  • Electric Scooter
  • Electric Motorcycle

 Sales Channel

  • OEM
  • Aftermarket

 Installation

  • Front
  • Rear

 Power Output

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

 Motor

  • Gearless
  • Geared

 Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa


Key Benefits of the Report:

  • This study presents the analytical depiction of the two-wheeler hub motor market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the two-wheeler hub motor market.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the two-wheeler hub motor market growth scenario.
  • The report provides detailed two-wheeler hub motor market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the two-wheeler hub motor market research report:

  • Which are the leading market players active in the two-wheeler hub motor market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the two-wheeler hub motor market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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