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Hub Motor Market Report by Installation (Front Hub Motor, Rear Hub Motor), Vehicle Type (E-bikes, Electric Two-wheelers, Passenger Cars, and Others), Motor Type (Geared, Gearless), Power Output (Below 1000 W, 1000–3000 W, Above 3000 W), Sales Channel (OEM, Aftermarket), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A4299
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Market Overview:
The global hub motor market size reached US$ 9,764.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 14,287.6 Million by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.
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Report Attribute
|
Key Statistics
|
|---|---|
|
Base Year
|
2023
|
|
Forecast Years
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2024-2032
|
|
Historical Years
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2018-2023
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|
Market Size in 2023
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US$ 9,764.5 Million |
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Market Forecast in 2032
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US$ 14,287.6 Million |
| Market Growth Rate 2024-2032 | 4.2% |
Hub motor is an electric motor power generator installed in the wheels to power rear, front-wheel or all-wheel drive vehicles. The motor consists of a battery pack, fuel cell and a generator. It functions independently of the gears and operates using the electric energy stored in the battery by converting it into a rotary motion. It minimizes the contact between the stator and the rotor, thereby enhancing the overall life of the motor. Hub motors facilitate electronic commutation and eliminate the requirement for heavy transmissions, drivelines, differentials and axles. They can be used to power internal combustion engines (ICEs) and are convenient to install and cost-effective with minimal mechanical losses.
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Hub Motor Market Trends:
Significant growth in the automotive industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing demand for electric vehicles (EVs) is providing a thrust to the market growth. Hub motors are widely used in e-bikes, e-motorcycles and electric cars, along with light, heavy, commercial and passenger vehicles. They provide increased torque, power, acceleration and handling to electric vehicles. In line with this, the widespread adoption of rear hub motors for enhanced traction control is also contributing to the growth of the market. Automobile manufacturers are developing lightweight and compact geared variants that can be used for driving on mountains, hills and rugged terrains. Additionally, various product innovations, such as the launch of hub motors with improved thermal management and ultra-lightweight features, are also favoring the growth of the market. Other factors, including rising expenditure capacities of the consumers, along with the implementation of favorable government policies promoting the adoption of EVs, are anticipated to drive the market toward growth.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hub motor market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on installation, vehicle type, motor type, power output and sales channel.
Breakup by Installation:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Front Hub Motor
- Rear Hub Motor
Breakup by Vehicle Type:
- E-bikes
- Electric Two-wheelers
- Passenger Cars
- Others
Breakup by Motor Type:
- Geared
- Gearless
Breakup by Power Output:
- Below 1000 W
- 1000–3000 W
- Above 3000 W
Breakup by Sales Channel:
- OEM
- Aftermarket
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accell Group N.V., Cutler MAC (Shanghai) Brushless Motor Co. Ltd, Elaphe Propulsion Technologies Ltd., Heinzmann GmbH & Co. KG, Leaf Motor, NTN Corporation, QS Motor, Schaeffler technologies AG & CO. KG, Tajima Motor Corporation and TDCM.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Million |
| Segment Coverage | Installation, Vehicle Type, Motor Type, Power Output, Sales Channel, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Accell Group N.V., Cutler MAC (Shanghai) Brushless Motor Co. Ltd, Elaphe Propulsion Technologies Ltd., Heinzmann GmbH & Co. KG, Leaf Motor, NTN Corporation, QS Motor, Schaeffler technologies AG & CO. KG, Tajima Motor Corporation, TDCM |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global hub motor market was valued at US$ 9,764.5 Million in 2023.
We expect the global hub motor market to exhibit a CAGR of 4.2% during 2024-2032.
The rising demand for hub motors, as they offer easy installation, generate more power, require minimal maintenance, eliminate the need for gears and transmissions, etc., is primarily driving the global hub motor market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous installations activities for hub motors.
Based on the installation, the global hub motor market can be segmented into front hub motor and rear hub motor. Currently, rear hub motor holds the majority of the total market share.
Based on the vehicle type, the global hub motor market has been divided into e-bikes, electric two-wheelers, passenger cars, and others. Among these, e-bikes currently exhibit a clear dominance in the market.
Based on the motor type, the global hub motor market can be categorized into geared and gearless. Currently, geared accounts for the majority of the global market share.
Based on the power output, the global hub motor market has been segregated into below 1000 W, 1000–3000 W, and above 3000 W. Among these, below 1000 W currently exhibits a clear dominance in the market.
Based on the sales channel, the global hub motor market can be bifurcated into OEM and aftermarket. Currently, OEM holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global hub motor market include Accell Group N.V., Cutler MAC (Shanghai) Brushless Motor Co. Ltd, Elaphe Propulsion Technologies Ltd., Heinzmann GmbH & Co. KG, Leaf Motor, NTN Corporation, QS Motor, Schaeffler technologies AG & CO. KG, Tajima Motor Corporation, and TDCM.
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