New York, NY, July 28, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “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”.
“According to the recent research report, the demand of global Two-wheeler Hub Motor Market size & share expected to reach to USD 15.67 Billion by 2026 from USD 8.9 Billion in 2020, at a compound annual growth rate (CAGR) of 9.7% during the forecast period 2021 to 2026”
Global Two-wheeler Hub Motor Market: Overview
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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Industry Major 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
- Elaphe Propulsion Technologies Ltd.
- Evans Electric
- GoGoA1
- TVS Motors
- Ziehl-Abegg
- Protean Electric
- Hyundai Mobis
- Kolektor and Printed Motor Works
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Key questions answered in this report:
- What is the projected market size & growth rate of the Two-wheeler Hub Motor Market?
- What are the key driving factors for the growth of the Two-wheeler Hub Motor Market?
- What are the top companies operative in Two-wheeler Hub Motor Market?
- What segments are covered in Two-wheeler Hub Motor Market?
- How can I get free sample report/company profiles of the Two-wheeler Hub Motor Market?
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Market Dynamics
- 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.
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Global Two-wheeler Hub Motor Market: Segmentation
Based on Vehicle Type, the market is bifurcated into electric scooter/moped, electric bike, and electric motorcycle among others. The electric bike sector accounted for the biggest percentage of the market. These motors are commonly used in electric motorcycles because of their strong torque, fast speed and power, and long-range. Furthermore, because of their lightweight, these motors provide improved vehicle handling. Over the forecast period, these factors are expected to drive segment demand. Based on the installation, the market is segregated into a front hub motor and rear hub motor. The rear hub motor sector accounted for the majority of the market. Manufacturers choose to mount two-wheeler hub motors to the back wheel because they provide superior traction, stability, and vehicle performance. As a result, the market is expected to expand over the forecast period. Because the majority of the vehicle's weight is concentrated in the back, a rear two-wheeler hub motor provides significantly more traction than a front two-wheeler hub motor. Furthermore, the front two-wheeler hub motor arrangement is less expensive to maintain and service.
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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 center engine makers, China is the largest market for bike center engines in the 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
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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