Global Two-wheeler hub motor Market is valued at approximately USD 8.20 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.70% over the forecast period 2020-2027. Two-wheeler hub motor is a motor attached to the wheels of a two-wheeler to drive directly with higher efficiency & flexibility. It reduces the weight of the vehicle and accelerates high torque at low rpm. It works as a brake by functioning as a generator rather than a motor. It uses the electric energy stored in the battery by converting it into rotary motion, thereby driving the vehicles drivetrain. Two-wheeler hub motor are generally used in electric vehicles, therefore global rise in sale of electric vehicle is leveraging the demand for two-wheeler hub motors across the globe. For instance, as per International energy Agency, sale of electric cars topped 2.1 million globally in 2019 and leads to the global stock of over 7.2 million electric cars worldwide. Electric cars account for 2.6% of global car sales and about 1% of global car in stock in 2019, registered a 40% year-on-year increase. Additionally, the presence of strict government norms for reducing carbon emission and promoting electric vehicle is driving the growth of market over the forecast years. However, high cost of two-wheeler hub motor is the major reason hampering the growth of market.
The regional analysis of the global Two-wheeler hub motor Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in the global two-wheeler hub motor due to the rising production and sale of electric vehicle in the region. However, presence of strict government norms for reducing carbon emission and promotion of electric vehicle is the major factor impacting the fastest growth of two-wheeler hub motors market in the Asia Pacific region in the forthcoming period.
Major market player included in this report are:
MAC SHANGHAI ELECTRIC MOTOR COMPANY LTD
Heinzmann GMBH AND CO.
Robert bosch gmbh
Schaeffler Technologies AG and CO.
Elaphe propulsion Technologies LTD.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Torque offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Below 10 Nm
By Sales Channel:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.
Target Audience of the Two-wheeler hub motor Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers