Hub Motor Market Size, Share & Trends Analysis Report By Motor Type (Geared, Gearless), By Power Output (Below 3 KW, 3-5 KW), By Installation Type, By Sales Channel, By Vehicle Type, By Region, And Segment Forecasts, 2023 - 2030

Hub Motor Market Size & Trends

The globalhub motor market size was estimated at USD 12.26 billion in 2022and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. One of the key drivers for the market growth is the growing demand forelectric vehicles(EVs). As electric vehicles continue to evolve, there is a growing emphasis on improving their power, efficiency, and overall performance. The hub motors, with their direct power delivery to the wheels, offer several advantages, such as providing instant torque and enabling quick acceleration and responsive handling, which enhances the overall driving experience.

The integration of advanced control systems and regenerative braking technology with hub motors allows for improved energy efficiency and longer battery life. These technological advancements, coupled with the increasing availability of high-capacity batteries, have resulted in greater range and reliability for electric vehicles (EVs) equipped with hub motors. As a result, consumers are increasingly drawn to these vehicles for their superior performance and driving dynamics, further driving the growth of the target market.

Hub motors play a pivotal role in the ongoing global shift toward cleaner and greener transportation solutions. Unlike traditional internal combustion engines that emit harmful pollutants, the hub motors, when used in EVs ande-bikes, produce zero direct emissions. This eco-friendly characteristic of hub motors aligns perfectly with the increasing environmental awareness and concerns about air quality and climate change.

Hub motors typically have fewer moving parts compared to traditional internal combustion engines, resulting in reduced maintenance needs and longer product lifespans. This not only saves money for consumers but also reduces the demand for raw materials and the energy required for manufacturing and maintaining complex engine components. In conclusion, the sustainability factor is another driving force behind the market's growth, as it addresses pressing environmental concerns while offering long-term economic benefits.

Another growth factor for the market is government incentives and regulations. Governments understand the importance of transitioning to cleaner and more sustainable transportation options. To encourage the adoption of EVs, they have implemented measures such as tax credits, rebates, grants, and subsidies. These incentives aim to make EVs more affordable and attractive to consumers. For example, the Indian government is offering incentives of up to 40% of the cost of two-wheeler EVs through its Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme.

COVID-19 Impact

COVID-19 had a significant impact on the market, particularly in a country like China,which is known as a center for manufacturing hub motors. The pandemic and subsequent lockdown measures resulted in disruptions across the supply chain, affecting both the production and distribution of hub motors. China, being a major player in the manufacturing of these motors, experienced a significant slowdown in production during the initial stages of the pandemic. The strict lockdown measures led to a temporary closure of factories and manufacturing facilities. As a result, the supply of these motors was severely affected, causing delays in fulfilling orders and meeting customer demands.

在需求方面,有一个临时蘸consumer interest in EVs, including e-bikes and electric scooters, as economic uncertainties prompted cautious spending. However, as the pandemic continued and people sought safer and more eco-friendly transportation options, the demand for these motor-equipped vehicles rebounded strongly. The increased focus on personal mobility and the need for socially distant commuting options drove renewed interest in e-bikes and electric scooters, ultimately benefiting the target market.

Motor Type Insights

Based on motor type, the market is segmented into geared and gearless categories. The geared segment dominated with a revenue share of 74.8% in 2022. It is expected to maintain its dominance with a CAGR of 5.4 % over the forecast period. A geared hub motor utilizes a system of gears to transfer the power and force of the motor to the wheels. A geared hub motor remains crucial for reducing the higher speed at which the motor spins by fixing the spinning of the motor and allowing the wheel to spin at a suitable speed. Its case is connected to the stator through a planetary gear reduction system. The motor inside the enclosure spins much faster than the wheel at every rotation, thereby allowing the exertion of the motor at higher and more efficient speeds. Geared hub motors are usually smaller and lighter. They play a niche role in increasing the range of EVs as they offer higher torque.

Power Output Insights

Based on power output, the market is classified into below-3 KW, 3-5 KW, 5-10 KW, and above-10 KW segments. The 3-5 KW segment dominated with a revenue share of 50.8% in 2022 and is also expected to emerge as the fastest-growing segment over the forecast period. The 3-5 KW range provides an optimal balance between power and efficiency for electric two-wheelers. These motors offer sufficient power to ensure smooth acceleration and a comfortable riding experience while being efficient enough to maximize the battery life. As electric two-wheelers gain popularity as a sustainable and eco-friendly mode of transportation, consumers are increasingly looking for vehicles that offer a good balance between power and range.

The 3-5 KW hub motors are well-suited for urban commuting, which is a key market segment for electric two-wheelers. In densely populated cities, where traffic congestion and limited parking spaces are common challenges, electric two-wheelers offer a practical solution. The 3-5 KW hub motors provide sufficient power to navigate through city streets, ensuring a smooth and efficient ride. Additionally, these hub motors are compact and lightweight, making them ideal for maneuvering through traffic and finding parking in tight spaces. According to a report by an industry expert, India alone witnessed the sale of approximately 846,976 units of electric two-wheelers during 2022-2023.

Sales Channel Insights

Based on sales channel, the market is classified into OEM and aftermarket segments. The OEM segment held the largest revenue share of 85.7% in 2022 and is expected to grow with the highest CAGR over the forecast period, as the majority of the end-users prefer to buy electric vehicles with company-fitted electric motors. OEMs have established strong partnerships and collaborations with electric vehicle manufacturers, allowing for seamless integration of their hub motors into vehicle designs.

In February 2023, Flash, an electric component manufacturer, partnered with Gem Motors, a Slovakia-based company, to manufacture these motors for EVs. This partnership aims to enhance Flash's EV offerings by leveraging Gem Motors' expertise in motor technology. This partnership highlights the importance of strategic collaborations in the EV industry to drive innovation and meet the growing demand for electric mobility solutions. This level of integration provides a competitive advantage and ensures optimal performance and compatibility. OEMs also offer quality assurance and warranty that aftermarket sales channels may not provide, giving manufacturers confidence in the reliability and longevity of the hub motors.

此外,oem厂商提供技术支持和实验ertise, guiding manufacturers through the installation, maintenance, and troubleshooting processes. This level of support is valuable when integrating complex drivetrain systems. Lastly, OEMs have efficient supply chain networks and manufacturing capabilities to meet high-volume demands, ensuring timely delivery to manufacturers. Overall, OEMs' partnerships, quality assurance, technical support, and supply chain efficiency make them the preferred choice for electric vehicle manufacturers when sourcing these motors.

Vehicle Type Insights

Based on the type of vehicle, the market is classified into e-bikes, E-motorcycles, E-scooters, electric passenger vehicles, electric utility vehicles, electric heavy-duty vehicles, and others. The e-bike segment dominated in 2022 with a market share of 28.7%. The primary application of hub motors is in electric bicycles, mainly due to their ability to provide higher power and speed, greater torque, and an extended range on a single charge. Their lightweight design also contributes to improved vehicle handling for both existing and new electric bicycles. For example, the expected increase in support from regulatory authorities in Norway and France, along with the efforts of OEMs to expand their current electric bicycle offerings, is projected to boost electric bicycle sales throughout the forecasted period.

The electric scooter segment is anticipated to exhibit a CAGR of 5.7 % from 2023 to 2030. This can be attributed to the growing sales of these vehicles, fueled by various government initiatives in the form of incentives and subsidies. For instance, in the U.S., the goal of the Governor of California to reach 1.5 million zero-emission vehicles by 2025 is contributing to the regional demand. The U.S. is expected to emerge as a favorable adopter of electric scooters as new products are being introduced and various large-scale manufacturers, such as Mahindra GenZe, have entered the U.S. market.

Installation Type Insights

根据安装类型,市场classified into front hub motor, rear hub motor, both front hub motor, and both rear hub motor. The rear hub motor segment held the maximum revenue share of 70.2% in 2022 and is expected to grow with the highest CAGR over the forecast period. One key factor is the advantage they offer in terms of traction control. Major EV manufacturers prefer installing hub motors in the rear wheel to take advantage of the traction control capabilities. By placing the motor in the rear hub, the weight distribution of the electric bike is improved, allowing for better traction and stability, especially when accelerating or climbing hills.

Another reason for the dominance of rear hub motors is their widespread use in electric bikes. Electric bikes are becoming increasingly popular as a sustainable and efficient mode of transportation, and rear hub motors are prominently used in these bikes. The rear hub motor design offers a compact and integrated solution, making it easier for manufacturers to incorporate them into their electric bike designs. Additionally, rear hub motors provide a smoother and more natural riding experience. The power delivery from a rear hub motor is often more seamless and responsive compared to other motor types. This contributes to a comfortable and enjoyable riding experience for electric bike users, further driving the demand for rear hub motors.

Regional Insights

Asia Pacific dominated the overall market in 2022, with a revenue share of 34.3. The Asia Pacific region commands the largest share in the hub motor industry, and this leadership can be attributed to several specific factors. Asia Pacific countries, particularly China and India, have massive populations, which drive substantial demand for two-wheeler EVs equipped with hub motors as an efficient and affordable means of transportation. Secondly, robust urbanization rates in the region, along with congested city streets, have created a pressing need for compact and eco-friendly personal mobility solutions, aligning perfectly with the advantages offered by these motors.

Additionally, proactive government policies, subsidies, and incentives aimed at promoting electric mobility have stimulated both production and consumer adoption of hub motor technology, fostering market growth. Lastly, the presence of extensive manufacturing infrastructure in Asia Pacific economies enables cost-effective production, making hub motor-equipped vehicles accessible to a wide spectrum of consumers.

North America is expected to achieve the fastest CAGR of 5.4% during the forecast period in the market. The presence of major EV manufacturers and tech companies such as Tesla and General Motors in North America has played a crucial role in driving the target market. These companies are investing heavily in research and development of EV technologies, including hub motors, to meet the growing demand for electric mobility. Their focus on developing advanced and efficient hub motor solutions tailored to the specific needs of the North American market is expected to boost market growth in the region.

North America has a well-established electric charging infrastructure, supported by a network of charging stations, which provides convenience and confidence to EV owners, making electric mobility more accessible. As the charging infrastructure continues to expand, the demand for these motors is expected to rise. The region's strong automotive industry and manufacturing capabilities contribute to the growth of the hub motor industry. North American companies have the expertise and resources to produce these motors at large scales, ensuring a steady supply to meet the increasing demand. The presence of a robust supply chain and manufacturing ecosystem positions North America as a key player in the target market, driving its anticipated growth in the region.

Key Companies & Market Share Insights

市场竞争的存在several key players. These players are adopting strategies such as partnerships and collaborations to gain a competitive edge. For instance, in August 2022, Elaphe Ltd. announced a collaboration with designing user-centric E-kickscooters & business models for enhancing intermodality (DREEM) projects to design and test e-motors. The project aims to develop a reliable and modular 350W gearless hub motor for 3-wheel e-kickscooters enabled with improved, foldable, and modular safety features.

Hub Motor Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 12.60 billion
Revenue forecast in 2030	USD 17.50 billion
Growth rate	CAGR of 4.8% from 2023 to 2030
Base year for estimation	2022
Historic year	2017 - 2021
Forecast period	2023 - 2030
Quantitative units	Revenue in USD million/billion and CAGR from 2023 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, trends
Segments covered	Motor type, power output, installation type, sales channel, vehicle type, region
Regional scope	North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope	U.S.; Canada; UK; Germany; France; China; India; Japan; South Korea; Australia; Brazil; Mexico; Kingdom of Saudi Arabia (KSA); UAE; South Africa
Key companies profiled	QS MOTOR LTD.; Schaeffler AG; Elaphe LTD.; NTN Corporation; TDCM; Robert Bosch GmbH; Bafang Electric (Suzhou) Co., Ltd.; Heinzmann GmbH & Co. KG; Leaf Motor; Cutler MAC (Shanghai) Brushless Motor Co., Ltd.
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
革命制度党cing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Global Hub Motor Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global hub motor market report based on motor type, power output, installation type, sales channel, vehicle type, and region:

• Motor Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Geared

  • Gearless

• Power Output Outlook (Revenue, USD Million, 2017 - 2030)

  • Below 3 KW

  • 3 - 5 KW

  • 5-10 KW

  • Above 10 Kw

• Installation Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Front Hub

  • Rear Hub

  • Both Front Hub Motor

  • Both Rear Hub Motor

• Sales Channel Outlook (Revenue, USD Million, 2017 - 2030)

  • OEM

  • Aftermarket

• Vehicle Type Outlook (Revenue, USD Million, 2017 - 2030)

  • E-bike

  • E-motorcycle

  • E-scooter

  • Electric Passenger Vehicles

  • Electric Utility Vehicles (incl. LCV)

  • Electric Heavy-duty Vehicles

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • Kingdom of Saudi Arabia (KSA)

    • UAE

    • South Africa