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Two Wheeler Hub Motor Market Size & Share, By Vehicle, Installation (Front Hub Motor, Rear Hub Motor), Motor, Sales Channel, Power Output, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Report ID: FBI 4563

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Published Date: Jun-2024

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Format : PDF, Excel

Market Outlook:

Two Wheeler Hub Motor Market was over USD 11.48 Billion in 2023 and is set to surpass USD 27.93 Billion by end of the year 2032, observing around 12.5% CAGR between 2024 and 2032.

Base Year Value (2023)

USD 11.48 Billion

19-23 x.x %
24-32 x.x %

CAGR (2024-2032)

12.5%

19-23 x.x %
24-32 x.x %

Forecast Year Value (2032)

USD 27.93 Billion

19-23 x.x %
24-32 x.x %
Two Wheeler Hub Motor Market

Historical Data Period

2019-2023

Two Wheeler Hub Motor Market

Largest Region

Asia Pacific

Two Wheeler Hub Motor Market

Forecast Period

2024-2032

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Market Dynamics:

Growth Drivers & Opportunity:

Increasing demand for electric vehicles globally is driving the growth of the two-wheeler hub motor market.

Rising urbanization and adoption of sustainable transportation solutions are also propelling the market growth.

Technological advancements in hub motor design and efficiency are creating opportunities for market expansion.

Report Scope

Report CoverageDetails
Segments CoveredVehicle, Installation, Motor, Power Output, Sales Channel
Regions Covered• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledBlinkfire Analytics, Gumgum, Kairos AR, SparkTrendz, Cloudsight, Chooch.com, Google LLC, Attrasoft, Catchroom, Hitachi,., Honeywell International, LTU Tech, NEC, Qualcomm Technologies, Slyce Acquisition

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Industry Restraints:

High initial costs associated with electric two-wheelers are a major restraint for market growth.

Limited charging infrastructure and range anxiety among consumers are also hindering the adoption of two-wheeler hub motors.

Regional Forecast:

Two Wheeler Hub Motor Market

Largest Region

Asia Pacific

56% Market Share in 2023

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- North America: The two-wheeler hub motor market in North America is projected to witness significant growth due to the increasing adoption of electric two-wheelers in countries such as the U.S. and Canada. Factors such as government incentives for electric vehicle adoption, growing environmental concerns, and rising fuel prices are driving the demand for electric two-wheelers with hub motors in the region.

- Asia Pacific: In Asia Pacific, countries like China, Japan, and South Korea are the key markets for two-wheeler hub motors. The increasing urbanization, rising disposable income, and government initiatives to promote electric vehicles are propelling the growth of the market in this region. China, in particular, is one of the largest markets for electric two-wheelers globally, creating significant opportunities for hub motor manufacturers.

- Europe: The European market for two-wheeler hub motors is also witnessing steady growth, driven by stringent emission regulations, increasing consumer awareness about environmental sustainability, and the presence of key players in countries such as the United Kingdom, Germany, and France. These factors are expected to fuel the adoption of electric two-wheelers with hub motors in Europe in the coming years.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
Two Wheeler Hub Motor Market
Two Wheeler Hub Motor Market

Segmentation Analysis:

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In terms of segmentation, the global two wheeler hub motor market is analyzed on the basis of Vehicle, Installation, Motor, Power Output, Sales Channel

Two Wheeler Hub Motor Market:

By Vehicle:

The two wheeler hub motor market can be segmented by vehicle type into motorcycles and scooters. Motorcycles are the dominant segment in the market due to their higher power output and performance capabilities. However, the demand for hub motors in scooters is also growing rapidly, driven by the increasing popularity of electric scooters in urban areas.

Installation:

The market can also be categorized based on installation type into front hub motors and rear hub motors. Front hub motors are typically easier to install and offer better stability and control, making them popular among electric bike manufacturers. On the other hand, rear hub motors are preferred for their better traction and climbing ability, making them ideal for off-road and mountain bikes.

Motor:

In terms of motor type, the market can be segmented into geared hub motors and gearless hub motors. Geared hub motors are more compact and efficient, making them suitable for urban commuting. Gearless hub motors, on the other hand, offer smoother acceleration and less maintenance, making them popular in high-performance electric bikes.

Sales Channel:

The two wheeler hub motor market can also be segmented by sales channel into OEMs (Original Equipment Manufacturers) and aftermarket. OEMs account for the majority of the market share, as they provide hub motors as standard equipment in new electric bikes. The aftermarket segment is growing steadily, driven by the increasing demand for hub motor upgrades and replacements.

Power Output:

Power output is another key segment in the two wheeler hub motor market, with options ranging from 250W to 1000W and above. Lower power output hub motors are typically used in city commuting bikes, while higher power output hub motors are preferred for off-road and performance bikes. The increasing trend towards high-performance electric bikes is driving the demand for hub motors with higher power output.

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Competitive Landscape:

Top Market Players:

- Bosch

- Continental

- Schaeffler

- NTN Corporation

- ZF Friedrichshafen

- Mitsuba Corporation

- BAFANG Electric

- QM Systems Limited

- GO SwissDrive

- e-RAD

In the competitive landscape of the Two Wheeler Hub Motor Market, these companies are leading the industry with their innovative technologies and solutions.

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Two Wheeler Hub Motor Market Size & Share, By Vehi...

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