Global Automotive Hub Motor Market was valued US$ 6.0Bn in 2017 and is estimated to reach US$ 12.0Bn by 2026 at a CAGR of 9.05%.Global Automotive Hub Motor Market, by TypeAutomotive hub motors are mostly used in electric bicycles. The automotive hub motors are also frequently used or applied in industries wherein driving wheels form a part of assembly lines. The automotive hub motor refers to an electric motor that is equipped in the hub of a wheel which allows it to move.
Demand for automotive hub motor technology to power electric vehicles is projected to rise due to the increase in preference by consumers toward electric vehicles. The automotive hub motor technology is robust, easy to install, and does not need for modification to other vehicle systems. With integration of automotive hub motors allows a vehicle to be operated as a four-wheel drive and all-wheel drive vehicle without using a transfer case.
Automotive hub motors are extensively utilized in electric buses. The automotive hub motor system market is easy to develop, as compared to the electric drive with a transmission. Hub motor is the preferred technology for buses as an absence of an engine and transmission system offers more floor space.
The geared hub motor is the fastest growing segment of the automotive hub motor market. The geared hub motor is the most general motor type adopted for hub motors as it controls the speed of a vehicle. Geared hub motors provide high torque that aids in driving on mountains or hills. Geared hub motors have planetary gears which reduce the vehicle speed, though, they allow the motor to rotate at faster speeds. Hub motors are mostly geared for speed control and durability.
Region-wise, The Asia-Pacific is dominating the automotive hub motor market during the forecast period. The automotive hub motors market in the APAC region is primarily governed by countries such as China, Japan and some of the Southeast Asia countries. These countries have tough penetration of electric two-wheelers, making them the most prominent markets for the related components.
Global automotive hub motor market report includes PESTLE analysis, competitive landscape, and Porter’s five force model. Market attractive analysis wherein all the segments are benchmarked based on the market size, growth rate, and general attractiveness.
Key players operating in global automotive hub motor market, Heinzmann GmbH & Co. KG, Protean Electric Ltd., Elaphe Ltd., Taizhou Quanshun Motor Co., Ltd, Mitsubishi Motors, Schaeffler Technologies AG & Co. KG, TDCM Corporation Ltd., Michelin Group, Magnetic Systems Technology Ltd., SIM-Drive Corporation, GO SwissDrive AG, QS Motor Co., Ltd.
Scope of Global Automotive Hub Motor Market
Global Automotive Hub Motor Market, by Type
- Gearless Hub Motor
- Geared Hub Motor
Global Automotive Hub Motor Market, by Application
- Two-Wheelers
- Electric Cars
- Commercial Vehicles
Global Automotive Hub Motor Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
Key players operating in Global Automotive Hub Motor Market
- Heinzmann GmbH & Co. KG
- Protean Electric Ltd.
- Elaphe Ltd.
- Taizhou Quanshun Motor Co., Ltd
- Mitsubishi Motors
- Schaeffler Technologies AG & Co. KG
- TDCM Corporation Ltd.
- Michelin Group
- Magnetic Systems Technology Ltd.
- SIM-Drive Corporation
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