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Two Wheeler Hub Motor Market Analysis by Trends, Key Players, Driver, Types, Sales Channel, Region, Segmentation, Forecast to 2027: Grand View Research, Inc.

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Two Wheeler Hub Motor Market Analysis by Trends, Key Players, Driver, Types, Sales Channel, Region, Segmentation, Forecast to 2027: Grand View Research, Inc.

November 26
06:00 2021
Two Wheeler Hub Motor Market Analysis by Trends, Key Players, Driver, Types, Sales Channel, Region, Segmentation, Forecast to 2027: Grand View Research, Inc.
“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, the two wheeler hub motor market is segmented into rear and front hub motor. The rear hub motor segment accounted for the majority share of the overall market in 2019 and was valued at USD 7.5 billion. The manufacturers prefer to install two-wheeler hub motors to the rear wheel as it offers better traction, improved stability, and higher vehicle performance.

The global two wheeler hub motor market size is expected to reach USD 16.9 billion by 2027, expanding at a CAGR of 9.7%, according to a study conducted by Grand View Research, Inc. Increasing demand for electric two-wheelers and stringent government regulations for reducing the carbon footprint is projected to market growth. Furthermore, improved vehicle performance, reliability, and driving range are some factors that are projected to influence the demand for hub motors over the next seven years.

 

The increasing rate of environmental degradation through vehicular emissions has become a key concern for governments across the globe. Therefore, several governments are taking steps to promote the shift from traditional vehicles to eco-friendly transportation. Hence, the government has announced incentives on road tax, purchase tax, import tax, and low or zero registration fee for electric two-wheelers for both manufacturers and end-users. Moreover, substantial investments from automakers are estimated to cater to the increasing demand for electric two-wheelers. This, in turn, is expected to play a crucial role in the evolution of the market.

 

Asia Pacific dominated the two wheeler hub motor market in 2019 and is expected to continue its dominance over the forecast period. The region is majorly driven owing to the presence of electric two-wheeler and motor manufacturers in China. The country accounts for over 70.0% of the overall electric two-wheeler market in the region. Moreover, the growth in the electric two-wheeler industry in India, South Korea, and Japan is anticipated to trigger the demand for in-wheel motors.

 

Furthermore, several government regulations to promote the adoption for electric two-wheelers is one of the vital factor influencing the regional market growth. For instance, in 2018, the government of India increased financial support valued at USD 1.3 billion for electric vehicles under its FAME II program. The step was aimed at providing the demand-side incentives for electric two-wheelers, three-wheelers, cars, and buses. Such initiatives are anticipated to fuel the growth of the market from 2020 to 2027.

 

The market is fragmented in nature owing to the presence of several key manufacturers. However, the prominent electric two-wheeler manufacturers usually undergo strategic agreements with their suppliers to bridge the demand and supply gap of the industry. Some of the significant manufacturers in the market are NTN Corporation; Robert Bosch GmbH; QS Motors; and Schaeffler Technologies AG & Co. KG.

 

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/two-wheeler-hub-motor-market

 

Two Wheeler Hub Motor Market Report Highlights

  • The electric bike segment is expected to dominate the market in 2019 and was valued at USD 4.6 billion in 2019 owing to growing penetration of electric bikes
  • The rear hub motor segment dominated the market and is anticipated to reach USD 15.7 billion by 2027. The high-power in-wheel motors are suitable for rear wheel installation as majority of the passenger weight is handled by the rear wheel. Hence rear hub motor provides better traction on the rear wheel
  • The market primarily includes power output such as below 1 kW, (1-3) kW, and above 3 kW. The below 1 kW segment dominated the market in 2019 and is projected to witness a CAGR of 9.1% from 2020 to 2027. These motors are best suited for electric bicycles, electric skateboards, and electric kick scooters
  • Asia Pacific is projected to account for majority share of the market over the forecast period due to the presence of majority electric two-wheeler and hub motor manufacturers. The region is anticipated to reach USD 9.4 billion by 2027

 

For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/two-wheeler-hub-motor-market/request/rs1

 

Two Wheeler Hub Motor Market Segmentation

 

Grand View Research has segmented the global two wheeler hub motor market based on vehicle type, installation, motor, power output, sales channel, and region:

 

Two Wheeler Hub Motor Vehicle Type Outlook (Revenue, USD Million, 2016 – 2027)

  • Electric Scooter/Moped
  • Electric Bike
  • Electric Motorcycle
  • Others

Two Wheeler Hub Motor Installation Outlook (Revenue, USD Million, 2016 – 2027)

  • Front
  • Rear

Two Wheeler Hub Motor Outlook (Revenue, USD Million, 2016 – 2027)

  • Geared
  • Gearless

Two Wheeler Hub Motor Sales Channel Outlook (Revenue, USD Million, 2016 – 2027)

  • OEM
  • Aftermarket

Two Wheeler Hub Motor Power Output Outlook (Revenue, USD Million, 2016 – 2027)

  • Below 1 kW
  • (1-3) kW
  • Above 3 kW

Two Wheeler Hub Motor Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

 

Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/7195/ibb

 

About Grand View Research

 

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

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