Global Two Wheeler Hub Motor Market size is expected to reach US$ XX Bn. by 2026 from US$ XX Bn. in 2019, at a CAGR of 8.5 % during the forecast period.
The global Two Wheeler Hub Motor market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Two Wheeler Hub Motor report also provides trends by market segments, technology, and investment with a competitive landscape.
Overview of Two Wheeler Hub Motor:
Automotive hub motors, also known as in-wheel hub motors, are electric motors that are mounted to the wheels of a vehicle and are meant to drive directly with more efficiency and flexibility. It reduces vehicle weight, and cars powered by hub motors are less mechanically sophisticated than traditional automobiles.
Hub motors for two-wheelers produce tremendous torque at low rpm's, similar to electric motors. Furthermore, by acting as a generator rather than a motor, hub motors for two-wheelers can act as a brake.
Global Two Wheeler Hub Motor Market Dynamics:
Electric two-wheeler adoption is a prominent development factor for the two-wheeler hub motor industry. Governments all around the world are concerned about the growing rate of environmental degradation caused by greenhouse gas emissions.
The rising amount of exhaust gases from autos, including two-wheelers, is causing severe air quality degradation. As a result, governments around the world are implementing a variety of steps to combat rising pollution levels. In many countries, for example, the government has subsidized the purchase of electric motorbikes and scooters to encourage the adoption of environmentally-friendly transportation. As a result of government measures to boost the adoption of electric vehicles to reduce carbon emissions, the markets for their components are growing.
At low rpm, the hub motor for two-wheelers produces the most torque. The extra torque is usually obtained by drastically enlarging the hub's size. Hub motors reduce the need for a gearbox, axles, driveline, and differential in electric vehicles by eliminating the main powertrain. This is likely to reduce mechanical losses in all components between the engine and the wheel, resulting in less noise production and a quieter vehicle.
Government Regulations:
Some governments around the world are taking steps to reduce pollution levels. Governments are likely to enact electric car deployment legislation, targets, and policies, prompting OEMs and other industry stakeholders to actively participate in growing electric car adoption. Their goal is to encourage end-user adoption of electric two-wheelers by instilling trust in them by mobilizing investments in the form of attractive discounts, sharing services, and public awareness campaigns. Governments in India, China, and the United States, for example, have subsidized the purchase of e-scooters, e-bikes, and e-motorcycles to encourage the adoption of environmentally-friendly transportation. Such activities are anticipated to help the electric two-wheeler industry flourish, hence boosting the total market growth.
Global Two Wheeler Hub Motor Market Segmentation:
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Based on the vehicle type, the global two-wheeler hub motor market has been segmented into electric scooter/moped, electric bike, electric motorcycle, and others. In 2019, the electric bicycle sector dominated the market, with a market value of USD XX billion. Due to variables such as greater power/speed, high torque, and extended range per single charge, two-wheeler hub motors are commonly used in electric motorcycles. Because of its lightweight construction, it improves vehicle handling for both existing and new automobiles.
From 2020 to 2026, the electric motorcycle and electric scooter segments are expected to grow at a CAGR of 11.8 % and 10.4 %, respectively. This can be due to rising sales of these vehicles, which are fueled by government programs such as incentives and subsidies. As different innovations are developed and large-scale manufacturers, such as Mahindra GenZe, enter the market, the United States is projected to emerge as a receptive adopter of electric scooters.
Impact of Covid-19 on E-Bikes: 2020
The manufacture of e-bikes has decreased as a result of the COVID-19 pandemic outbreak and subsequent lockdowns (together with all the limitations that followed). The market, on the other hand, is gaining up speed as life gradually returns to usual. People are displaying an increasing interest in purchasing their mode of transportation due to the pandemic and the potential of contamination while travelling by public transportation.
Aside from rising consumer choice for leisure and adventurous activities, the adoption of e-bike applications in a variety of industries, including logistics and e-bike rental services, is likely to propel the market examined over the next few years.
Global Two Wheeler Hub Motor Market Regional Insights:
Global Two Wheeler Hub Motor Market Regional Insights
In 2019, the APAC region alone accounted for approximately 90% of the global market for two-wheeler hub motors. The APAC region's supremacy is mostly due to China's strong demand for electric two-wheelers. Furthermore, the Chinese government is actively working to reduce vehicular pollution by enacting limitations on gasoline-powered vehicles, which is helping to accelerate the adoption of electric vehicles. Furthermore, Chinese buyers have been receiving economic incentives in the form of subsidies, which encourages them to switch to these vehicles even more. Leading manufacturers in the region include TDCM, QS MOTOR, MAC SHANGHAI ELECTRIC MOTOR COMPANY LTD, and NTN Corporation.
2021 Trend:
With significant consumer expenditure in the mobility industry, especially motorcycles, the Chinese economy is developing at a fast pace.
Furthermore, while the government subsidies to producers are decreasing, the massive volumes achieved by segment leaders have already allowed for great economies of scale, and electric scooters are already competitive in terms of price.
The market is fast evolving, with electric vehicles accounting for more than half of the overall market last year. New brands are thriving, with Yadea leading not only in the EVs area but also in the overall market, with over 5.1 million sales in 2019. Xinri Sunra, Niu, and other brands are growing rapidly, with limited supplies, whilst traditional companies are abandoning domestic sales in favor of export.
The objective of the report is to present a comprehensive analysis of the Global Two Wheeler Hub Motor Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Two Wheeler Hub Motor Market dynamics, structure by analyzing the market segments and project the global Two Wheeler Hub Motor market size. Clear representation of competitive analysis of key players By Vehicle Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Two Wheeler Hub Motor Market make the report investor’s guide.
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Global Two Wheeler Hub Motor Market Scope: Inquire before buying
Global Two Wheeler Hub Motor Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Two Wheeler Hub Motor Market Key Players
• Robert Bosch
• Electric Bike
• Evans Electric
• GoGoA1
• HEINZMANN GmbH & Co. KG
• TVS Motors
• NTN Corporation
• ZIEHL-ABEGG
• Elaphe Ltd.
• Siemens AG
• Schaeffler Technologies AG & Co. KG
• Protean Electric
• Hyundai Mobis
• Bonfiglioli Riduttori S.p.A.
• e- Traction B.V.
• TM4
• Kolektor
• Printed Motor Works, NSK Ltd.
• Kelly Controls
• GEM motors d.o.o.
• Lohr –Boreal
• Yasa
• Google Inc.
• Other Key Players
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