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Global Hub Motor Market to Grow at a CAGR of 5.3% During 2024-2032, Driven by the Rising Demand for E-Bikes

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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.

Global Hub Motor Market

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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.

Global Hub Motor Market by Segment

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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.

Global Hub Motor Market by Region

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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.

Key Highlights of the Report

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 United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOT Analysis Porter's Five Forces Analysis Key Indicators for Demand Key Indicators for Price
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

What was the global hub motor market size in 2023?

The global hub motor market attained a value of nearly USD 9.55 billion in 2023.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 5.3% in the forecast period of 2024-2032.

What is the forecast outlook of the market for 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.

What are the major market drivers?

The rising demand for hub motors due to their favourable features and the growing popularity of electric vehicles are the major market drivers.

What are the key trends of the market?

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.

What are the major regional markets of hub motor, according to the EMR report?

The major regional markets for hub motor are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

What are the different vehicle types considered in the market report?

E-bike, e-scooter, and e-motorcycle are the different vehicle types considered in the market report.

What are the major installation types of hub motor?

The major installation types of hub motor are front hub motor and rear hub motor.

What are the various outputs of hub motor?

The various outputs of hub motor are below 1000W, 1000-3000W, and above 3000W.

What are the significant distribution channels of hub motor?

The significant distribution channels of hub motor are original equipment manufacturer (OEM) and aftermarket.

Who are the key market players, according to the report?

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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