Electric motors installed in the hub of a wheel are known as wheel motors, in-wheel motors, or wheel hub drives. These motors are primarily used in electric bicycles and are seeing a steady rise in other applications, such as electric cars and commercial vehicles. The most prominent factor driving the market growth is the consistently rising penetration of electric bicycles as well as vehicles across different countries, including China, Germany, Japan, Belgium, Norway, France, the U.K., and the Netherlands. The penetration of electric vehicles is witnessing strong growth, especially in Europe. As a result, demand for hub motors will continue to rise over the forecast period.
Another prominent factor fueling the market's growth is the superior advantages of automotive hub motors over conventional drives. Several hub motor manufacturers are making efforts to develop viable hub motor designs that can cater to a wide range of vehicles. In the near future, many major automotive manufacturers have expressed their desire to venture into the electric vehicle segments, considering their huge potential. Thus, the automotive hub motor market can capitalize on this growth of electric vehicles. Nonetheless, the strict requirement of an electric supply onboard the vehicle is a major concern for the automotive hub motor market. Similarly, unsprung weight is another major concern affecting the design of vehicles equipped with hub motors.
The report titled "Global Automotive Hub Motors Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025" offers strategic insights into the global automotive hub motors market along with the market size and estimates for the duration of 2015–2025. The said research study covers an in-depth analysis of market segments based on motor type and application and a cross-sectional study across different geographies and sub-geographical regions. The study covers the comparative analysis of different segments for the years 2016 and 2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities. In addition, the report includes a section providing insights into the key trends followed in the market.
The report also includes competitive profiling of the leading automotive hub motor vendors, their business strategy analysis, market positioning, and key developments to assist strategic decision-makers. Some of the major players profiled in the report are 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., and several others. Apart from the company profiles, the report includes a section covering the competitive landscape, wherein the market positioning of the companies is discussed. The section also provides an overview of the key business strategies employed by the leading market participants.
Other in-depth analysis provided in the report includes:
Current and future market trends to justify the automotive hub and motor industry's upcoming attractive markets
Comparative analysis for different segments for the years 2016 and 2025
Market fuelers, market impediments, and their impact on market growth
In-depth competitive environment analysis, including the positioning of market players and their business strategy analysis
Trailing 2-year market size data (2015–2016)
SRC (Segment, Region, Country) Analysis
Overall, the research study provides a holistic view of the global automotive hub motors market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.
On the basis of application, the global automotive hub motor market is segmented into the following categories:
Two-wheelers
Electric Cars
Commercial Vehicles
Their contribution to the global automotive hub motor market in 2016 is as shown in the figure below:
As of 2016, the two-wheelers segment led the global automotive hub motors market. The segment contributes to more than forty percent of the global market revenue as of 2016. Electric bicycles, scooters, and bikes have witnessed fairly high penetration across different countries worldwide. Countries such as China, Japan, South Korea, Germany, the Netherlands, and a few others have a strong penetration of electric two-wheelers. With the continually rising adoption of electric two-wheelers from countries such as the U.S., India, and other European countries, the segment would continue experiencing strong growth over the forecast period.
The electric car segment is yet to pick up due to the relatively low commercialization of these vehicles. Although there exist several concept cars, electric cars are yet to become popular, as compared to the two-wheeler segment. With the consistently growing efforts towards improving the design and affordability of electric cars, the segment is set to witness high growth in the following years. This would generate high demand for related components such as hub motors. Subsequently, electric cars would register the highest growth during the forecast period.
Based on geography, the global automotive hub motor market is segmented into the following regions and countries:
North America
U.S.
Canada
Europe
U.K.
Germany
France
Rest of Europe
Asia Pacific
Japan
China
South Asia
Rest of Asia Pacific
Rest of the World (RoW)
Middle East and Africa (MEA)
Latin America
The Asia Pacific region dominates the global automotive hub motors market. As of 2016, the region contributed more than forty percent of the overall market revenue generated worldwide. The automotive hub motor market here is primarily governed by countries such as China, Japan, and some Southeast Asian countries. These countries have a strong penetration of electric two-wheelers, making them the most prominent market for related components. In addition, China is one of the largest producers of electric two-wheelers and their related components. This makes the country one of the largest markets for hub motors.
With the anticipated strong growth in the electric vehicle segment, Asia Pacific is set to maintain its dominant position in the global market in the following years. Europe and North America follow Asia-Pacific in terms of revenue in the market. The market here is primarily governed by the strong penetration of electric vehicles in the Western European region. Countries including Norway, Germany, the U.K., France, and several others are generating strong demand for electric vehicles. As a result, the region would exhibit strong growth in the automotive hub motor market in the following years.
Frequently Asked Question:
The market for Automotive Hub Motors Market is expected to reach USD$ XX Bn in 2025.
The Automotive Hub Motors Market is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted From 2017-2025.
The base year of this report is 2016.
Heinzmann GmbH & Co. KG, Protean Electric Ltd., Elaphe Ltd., Taizhou Quanshun Motor Co., Ltd., Mitsubishi Motors, Schaeffler Technologies AG & Co. are some of the major players in the global market.
