Global Two Wheeler Hub Motor Market by Vehicle Type (Electric Bike, Electric Motorcycle) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global two-wheeler hub motor market was valued at USD 8.2 million in 2019. It is expected to grow at 9.7% CAGR between 2020 and 2027. A hub motor is an electric motor that is integrated into the vehicle's wheel assembly. The motor converts the electric energy in the battery into rotary motion and drives the vehicle's drivetrain. These motors are used in electrical vehicles. Market growth is expected to be driven by the changing preferences of end users towards zero-emission vehicles due to increased awareness of global warming. Market growth is also expected to be supported by favorable government policies, such as strict regulations to reduce (CO2) emissions and subsidies for electric-two-wheeler manufacturers, end-users, and distributors.

Two-wheeler hub motors are more cost-effective, easier to install, and offer better performance than mid-drive motors. In-wheel/hub motors will be the preferred choice of electric two-wheeler makers. Several factors have contributed to industry growth, including amplified power and high-torque, improved vehicle handling, and a wider range.

The hub motor is becoming increasingly popular for electric vehicles. It reduces maintenance costs and provides a better driving experience. Two-wheeler hub motors can be used to eliminate the main powertrain of electric vehicles, eliminating the need for an axle, transmission, or driveline. It reduces mechanical losses between the engine and wheel, which results in quieter running and less noise generation.

Many governments around the world are also taking steps to reduce pollution. These governments will implement regulations, goals, and policies to encourage electric vehicle deployment. This will signal OEMs and other stakeholders to take part in increasing electric vehicle adoption. They aim to increase electric vehicle penetration by creating confidence and facilitating investments through sharing services, attractive discounts, and awareness campaigns. To encourage the adoption of eco-friendly transportation, governments in countries like India, China, and the U.S. subsidize the purchase of E-scooters, ebikes, and emotorcycles. These initiatives will likely help in the growth and expansion of the electric bike industry and increase the overall market growth.

A number of traditional vehicle manufacturers also announced plans to launch high-powered electric two-wheelers within the next two to 3 years. HARLEY-DAVIDSON's e-motorcycle LiveWire was launched in 2019 and is now available at Harley-Davidson dealers in Canada, the U.S. and Europe. In October 2019, Okinawa Autotech Pvt. Ltd. revealed plans to launch an electric motorcycle that would compete directly with the Revolt RV400 in India by 2020. Consequently, there is high market competition that will likely drive demand for electric motorcycles. This would in turn increase the demand of high-powered two-wheeler motors during the forecast period.

Vehicle Type Insights

The market can be divided by type of vehicle into an electric scooter/moped or electric bike, an electric motorcycle and another segment, such as electric kick scooters or electric skateboards. In 2019, the electric bike segment was the dominant market, with a value of USD 4.6 billion. Two-wheeler hub motors are used extensively in electric bikes due to their increased power/speed and torque as well as extended range. Because it is lightweight, it offers improved vehicle handling for both new and existing vehicles. The expected rise in sales of electric bikes between 2020 and 2027 is due to the increasing support from regulators in France and Norway, as well as the OEM's efforts for expanding the existing fleet.

From 2020 to 2027, the CAGR for electric motorcycles and scooter segments is expected to be 11.9% and 10.6%, respectively. This is due to increasing sales of these vehicles, which are fueled by various government initiatives such as incentives and subsidies. The Governor of California has set a goal to achieve 1.5 million zero-emission cars by 2025. This is helping to fuel regional demand. The United States is likely to be a positive adopter of electric scooters, as new products are introduced and large-scale manufacturers such as Mahindra GenZe have entered the U.S. marketplace.

Installation Insights

The market for two-wheeler hub motors can be divided into front and rear hub motors based on their installation. In 2019, the largest share of the market was held by the rear hub motor segment, which was valued at USD 7.8 billion. Manufacturers prefer to mount two-wheeler hub engines to the rear wheels as they offer better traction and stability. The market is expected to grow during the forecast period.

The majority of vehicle weight is located at the rear of the vehicle. A rear two-wheeler motor hub motor provides more traction than a front hub motor. The configuration and aftermarket installation for the front in-wheel engine is much easier than that of the rear. The front two-wheeler hub motor is also less expensive to maintain and easier to service. The front hub motor segment is expected to grow at 7.1% CAGR between 2020 and 2027.

Motor Insights

The market can be divided into two segments based on motor: geared hub motor or gearless hub motor. In 2019, the market was dominated by the geared hub motor segment, and it is expected to continue this trend in the future. Two-wheeler hub motors with planetary gears reduce vehicle speed, but allow for faster motor rotation. For better speed control and durability, two-wheeler hub motors are often geared. Additionally, geared motors can be smaller and lighter than the other types and are preferred by most electric 2-wheeler manufacturers. The segment was responsible for more than 79.0% of overall market revenue in 2019.

Two-wheeler hub motors that are gearless can produce large amounts of power as well as torque. These motors are especially well-suited to higher performance electric vehicles. They are however heavy and bulky, which increases vehicle weight and decreases vehicle performance. OEMs choose between a geared and a gearless motor depending on the vehicle's power and weight. The gearless hub motor segment will see a 8.4% CAGR over the forecast period.

Sales Channel Insights

The market can be divided into two segments based on the sales channel: OEM and aftermarket. The market was dominated by OEMs in 2019, with the majority of end-users preferring to purchase two-wheelers fitted with electric motors from companies. The OEM segment is also growing because of the preference of end-users to use electric scooters or motorcycles instead of their traditional scooters or motorcycles for daily commute. The OEM segment will also see an increase in market share due to the rising production and export rates of electric two-wheelers.

The Aftermarket segment will see a 8.1% CAGR between 2020 and 2027. Most startups and SMEs in this industry concentrate on modifying old bikes to make them electric. They do this by attaching a two-wheeler motor to one of the wheels to transform it into an electric bike. This will drive the growth of the aftermarket sector over the forecast period.

Insights on Power Output

The market is segmented based on its power output. Manufacturers prefer a motor with a higher power output because they want to improve the vehicle's speed but not compromise its performance. Motors that have a power output of more than 1 kW are used in electric scooters/mopeds and electric motorcycles. Motors that produce more than 3 kW or 1-3 kW are expected to be in high demand. The segment of (1-3%) kW is expected to see the greatest CAGR of 10.6% during the forecast period.

Motors with a power output of less than 1 kW are preferred for electric bikes, scooters, and skateboards. Segment growth is expected to be fueled by the growing adoption of electric bikes in North America and Europe. In Germany, for example, electric bike sales increased by 37.0 percent to 920,000 bikes in the first half 2019. This is almost the same as the total unit sales in 2018. The segment was worth USD 4.6 billion and dominated the market in 2019. Additionally, electric bikes represented over 50% of the overall market as of 2019. This will fuel segment growth in the future.

Regional Insights

The market for Asia Pacific was worth USD 4.7 billion in 2019, according to a report. This market is also driven by India, China, South Korea, Japan, and India. China is the biggest market for two-wheeler motors in Asia Pacific. This is due to the presence major manufacturers of two-wheeler motors, such as QS MOTOR and MAC SHANGHAI ELECTRIC MOTOR COMPANY LTD., TDCM and NTN Corporation.

North America is expected to experience the highest CAGR at 11.1% between 2020 and 2027. Manufacturers are focusing on creating high-performance, cleaner and more efficient electric vehicles. The U.S. saw the launch of electric two-wheelers by leading OEMs like LUNA CYCLE (United States), Zero Motorcycles and Harley-Davidson. This led to a huge demand for two-wheeler motors. Two-wheeler hub motors are expected to be more in demand due to their benefits, including better torque control, strong acceleration and improved stability.

Market Share Insights & Key Companies

QS MOTOR and MAC SHANGHAI ELECTRIC MOTOR CORP LTD, TDCM and NTN Corporation are some of the prominent industry players. KG., Robert Bosch GmbH and Schaeffler Technologies AG & Co. KG, as well as Elaphe Propulsion Technologies Ltd. To maintain their market position, the companies continually undertake strategic initiatives like contracts and agreements, partnerships and joint ventures as well as new product launches. This is done to expand their market presence both locally and globally as well as to provide a better product range to their customers. Elaphe Propulsion Technologies Ltd., for example, launched the Elaphe L1500 two wheeler hub motor in May 2018. Savic Motorcycles also announced the Cafe Racer electric motorcycle model in November 2018. It will be available for purchase by 2020.

Two-wheeler Hub Motor Market Report Scope

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and analyzes the most recent industry trends in each sub-segment from 2016 to 2027. Grand View Research has divided the global two-wheeler hub motor market by vehicle type, motor, installation, motor, sales channel and power output.

• Vehicle Type Outlook (Revenue USD Million, 2016-2027)

  • Electric scooter/Moped

  • Electric Bike

  • Electric motorcycle

  • Other

• Installation Outlook (Revenue, USD Million, 2016 - 2027)

  • Front Hub Motor

  • Rear Hub Motor

• Motor Outlook (Revenue USD Million, 2016-2027)

  • Geared Hub Motor

  • Gearless Hub Motor

• Sales Channel Outlook (Revenue, USD Million, 2016 - 2027)

  • OEM

  • Aftermarket

• Power Output Outlook (Revenue USD Million, 2016-2027)

  • Below 1 kW

  • (1-3) kW

  • More than 3 kW

• 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

These are the most frequently asked questions about this report

b. Global two-wheeler hub motor market was valued at USD 8.2 Billion in 2019, and is forecast to grow to USD 8.9 Billion by 2020.

b. Global two-wheeler hub motor markets are expected to expand at a compound annual rate of 9.7% between 2020 and 2027, reaching USD 17.0 billion in 2027.

b. With a market share of 57.5%, North America dominated two-wheeler hub motor markets in 2019, This market is also driven by China and Japan, India, South Korea, and India.

b. QS MOTOR, MAC SHANGHAI ELECTRICMOTOR COMPANY LTD, TDCM and NTN Corporation are some of the key players in the two-wheeler hub motor market. Heinzmann GmbH and Co. KG. ; Robert Bosch GmbH; Schaeffler Technologies AG and Co. KG, and Elaphe Propulsion Technologies Ltd.

b. Market growth is driven by the shifting preferences of end users towards zero emission vehicles. This is due to growing awareness about global warming and the fact that many governments around the world are taking steps to reduce pollution.

Up Market Research published a new report titled “Two Wheeler Hub Motor Market research report which is segmented by Vehicle Type (Electric Bike, Electric Motorcycle), By Players/Companies NTN Corporation; Heinzmann GmbH and Co KG; Robert Bosch GmbH; Schaeffler Technologies AG and Co KG; and Elaphe Propulsion Technologies Ltd, QS MOTOR; MAC SHANGHAI ELECTRIC MOTOR COMPANY LTD; TDCM”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Two Wheeler Hub Motor Market Report Segments:

The market is segmented by Vehicle Type (Electric Bike, Electric Motorcycle).

Two Wheeler Hub Motor Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Two Wheeler Hub Motor Market

Overview of the regional outlook of the Two Wheeler Hub Motor Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Two Wheeler Hub Motor Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Two Wheeler Hub Motor Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Electric Bike

                2. Electric Motorcycle

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Two Wheeler Hub Motor Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Two Wheeler Hub Motor Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.