Two Wheeler Hub Motors Market By Product Type (Geared, Non-geared), By Channel (OEMs, Aftermarket), By Capacity (Less than 500W, 500-2500W, More than 2500W), By Two Wheeler Type (E-bikes and Scooter, Motorcycles) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027

The global market for two-wheeler hub motors is expected to grow at a CAGR of 7.23% from 2019 to 2027, with a starting value of US$ 1,337.0 Mn in 2018. The two-wheeler hub motors market is expected to witness steady growth in the near future due to growing government initiatives, policies toward electric vehicle adoption, and rising consumer concern for the environment. There are two types of motors available on the market, namely hub motors and mid-drive motors. Hub motors are cheap, easy to install, and easy to ride; on the other hand, mid-drive motors are expensive and more complex to install. Subsequently, hub motors are expected to emerge as the preferred choice in electric two-wheelers. The two-wheeler hub motor market is expected to grow consistently due to an increase in the overall sales of e-bikes.

Market Synopsis

Geared hub motors are the fastest-growing segment of hub motors, as they control the speed of the vehicle and provide high torque, which helps in driving the e-bike up hills. These are smaller in size and lighter in weight, so the weight of the e-bike does not increase. A major application of geared hub motors is in e-bikes. Thus, with rising sales of e-bikes, the demand for geared hub motors is projected to remain strong throughout the forecast period.

Asia Pacific to Register the Fastest Growth

In 2018, Asia Pacific led the electric vehicle market worldwide with more than 1/3rd of the global market revenue. Since Asia Pacific continues to register huge growth in sales of electric vehicles, the hub motor market here is set for robust growth in the years to come. Furthermore, e-bike and scooter sales are shifting the graph toward Asia, with China, South Korea, and Japan leading the way. Asia Pacific generates the most revenue from e-bikes (more than US$ 800.0 million), followed by North America and Europe, which generate more than US$ 350.0 million and US$ 280.0 million, respectively. Improving government policies for higher penetration of electric vehicles is another prominent factor supporting regional market growth. For instance, in 2013, the government of India launched the "National Electric Mobility Mission Plan 2020," which aims to provide fiscal and monetary incentives to kick-start this nascent technology. Considering the consistently growing electric two-wheeler industry in Asia Pacific, the region would retain its dominant position in the market, exhibiting the highest CAGR through the forecast period.

Some of the prominent players operating in the two-wheeler hub motor market include Qs Motor, Schaeffler Technologies AG & Co. KG, Michelin Group, Jiashan Neo power International Trade Co., Ltd., Protean Electric, TDCM Corporation Ltd., GO SwissDrive AG, and Taizhou Quanshun Motor Co., Ltd., among others.

Periods of History and Forecast

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The two-wheeler hub motors market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global two-wheeler hub motors market based on type, channel, capacity, motorcycle type, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the market size of the two-wheeler hub motor market in 2018, and what is the forecast up to 2027?
• Which is the largest regional market for two-wheeler hub motors?
• What are the major trends followed in the overall two-wheeler hub motor market across different regions?
• What are the key market trends and high-growth opportunities observed in the two-wheeler hub motor market?
• What are the drivers of the two-wheeler hub motor market?
• Who are the key two-wheeler hub motor market companies leading the market?
• What are the key strategies adopted by the leading two-wheeler hub motor companies in the market?

This report's distinct data points

• Statistics on the electric two-wheeler market worldwide
• Recent trends across different regions in terms of the adoption of the two-wheeler hub motor market
• Notable developments going on in the two-wheeler hub motor industry
• attractive investment proposition for the two-wheeler hub motor market segment as well as geography.
• Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

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