Hub motor market is anticipated to grow at a moderate CAGR of 4.9% during the forecast period (2023-2030). The market is driven by the increasing demand for electric vehicles. As the electric vehicles sector is growing significantly, there is a growing focus on enhancing their efficiency, power, and overall performance. Hub motors which are primarily used for direct power delivery to the wheels bring several advantages. These include instantaneous torque, facilitating rapid acceleration, and responsive handling, thereby enhancing the overall driving experience.
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The global hub motor market is segmented by motor type, position, sales channel, and vehicle type. By motor type, the market is sub-segmented into geared and gearless motors. By position, the market is sub-segmented into front hub motor, rear hub motor, and both front and rear hub motor. By sales channel, the market is sub-segmented into original equipment manufacturer (OEM) and aftermarket. By vehicle type, the market is sub-segmented into electric vehicles (EVs), electric bikes (e-bikes), and other applications such as scooters and wheelchairs.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Hub Motor Market Report Segment
By Motor type
- Geared
- Gearless
By Position
- Front Hub motor
- Rear Hub motor
- Both Front and rear Hub Motor
By Vehicle Type
- Passenger
- Commercial
- Electric
By Sales Channel
- OEM
- Aftermarket
By Vehicle Type
- Electric vehicles (EVs)
- Electric bikes (e-bikes)
- Other applications (scooters, wheelchairs)
Global Hub Motor Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the hub motor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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