Hub Motor Market Demand, Industry Trends, Share, Size, and Report 2022-2027

The latest report by IMARC Group, titled “Hub Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,”  offers a comprehensive analysis of the industry, which comprises insights on the hub motor market report. The report also includes competitor and regional analysis, and contemporary advancements in the market.  the global hub motor market size reached US$ 8,823.2 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 11,823.2 Million by 2027, exhibiting a growth rate (CAGR) of 5.1% during 2022-2027. A hub motor refers to an electric motor integrated into the wheels of a vehicle. It is an independent drive system consisting of a fuel cell, generator, and battery pack. The system converts electric energy into rotatory motion, which minimizes the contact between the stator and rotor. This mechanism facilitates electronic commutation, reduces engine load, and enhances the operational efficiency of the vehicle. In addition, a hub motor offers easy installation, generates more power, requires minimal maintenance, and eliminates the need for gears and transmissions.

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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Hub Motor Market Trends:

One of the key factors driving the hub motor market growth is the widespread product utilization in the manufacturing of and improving the performance of electric vehicles (EVs). Due to the increasing environmental consciousness, there has been a significant rise in the demand for EVs, which, in turn, is inflating the sales of hub motor across the globe. The rising need for efficient and lightweight vehicles is acting as another growth-inducing factor. Additionally, large-scale investments in research and development (R&D) activities to integrate next-generation technologies, such as brushless direct current (BLDC), are fueling the market growth. Continuous product innovations, including the integration of thermal management and enhanced traction control, are some of the other factors creating a positive outlook for the market.

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being:

• Accell Group N.V
• Cutler MAC (Shanghai) Brushless Motor Co. Ltd
• Elaphe Propulsion Technologies Ltd
• Heinzmann GmbH & Co. KG
• Leaf Motor
• NTN Corporation
• QS Motor
• Schaeffler technologies AG & CO. KG
• Tajima Motor Corporation
• TDCM

Breakup by Installation:

• Front Hub Motor
• Rear Hub Motor

Breakup by Vehicle Type:

• E-bikes
• Electric Two-wheelers
• Passenger Cars
• Others

Breakup by Motor Type:

• Geared
• Gearless

Breakup by Power Output:

• Below 1000 W
• 1000–3000 W
• Above 3000 W

Breakup by Sales Channel:

• OEM
• Aftermarket

 Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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