Electric Vehicle (EV) Hub Motor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Electric Vehicle (Ev)Hub Motor Market
The electric vehicle (Ev)hub motor market size was valued at USD 26.25 billion in 2023, and the market is now projected to grow from USD 29.46 billion in 2024 to USD 80.03 billion by 2032, exhibiting a CAGR of 3.7% during the forecast period of 2024-2032.
The COVID-19 pandemic spurred increase within the international marketplace, especially for electric powered powered cars (EVs) like e-bikes, scooters, and motorcycles. Favorable government guidelines and stimulus programs aimed toward financial recuperation drove improved production and income. For example, inside the U.S., bicycle income surged by 65% from 2019 to 2020, with electric powered bikes experiencing a first rate 145% boom. Europe is anticipated to witness a doubling of e-bike extent compared to conventional bikes and cars ordinary yearly with the aid of 2030.
The rising fashion of urbanization and the recognition of micro-mobility solutions like electric motorcycles and scooters are fueling call for compact, light-weight hub vehicles, best for city commuting. The worldwide shift towards sustainable transportation has propelled the popularity of electrical -wheelers, offering green options for brief-distance tour. This surge in reputation, coupled with several new launches by producers, is riding substantial boom within the electric automobile hub motor market.
Manufacturers are prioritizing the enhancement of energy density in hub automobiles, aiming to deliver greater energy in compact, light-weight designs for stepped forward vehicle performance. Integration of lightweight materials like advanced composites and alloys reduces motor weight, enhancing strength efficiency. Increasing collaboration among industry leaders for research and development is set to propel electric powered vehicle hub motor marketplace increase within the foreseeable future.
Comprehensive Analysis of Electric Vehicle (Ev)Hub Motor Market
The electric vehicle (Ev)hub motor market growth is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated By Vehicle Type Analysis, By Power Output Analysis, By Component Analysis, By Position Type Analysis. By vehicle Type Analysis include e-bike and e-2 wheeler, By Power Output Analysis include 1000W, 1001-3000W, and above 3000W, By Component Analysis include stator, rotor, bearing and shaft, magnet and others (wiring, casing), By Position Type Analysis include By Position Type Analysis.
The Asia Pacific, region lead the electric vehicle (Ev)hub motor market share by benefitting a market size of USD 22.24 billion in 2023 due to emerging as a significant market for electric vehicle hub motors.
The top gamers inside the market play a critical role in the industry assuring market boom and placing marketplace standards. These players include, Robert Bosch GmbH, QS Motors, Kolektor, Printed Motor Works, NSK Ltd., NTN Corporation, GEM Motors, Magnetic Systems Technology, e-Traction B.V., Hyundai Mobis, YASA Limited, ECOmove GmbH, Tajima Motor Corporation, Ananda, Suzhou Tongsheng Electric Appliances Co., Ltd., Suzhou Shengyi Motor Co., Ltd., Bafang Electric (Suzhou) Co., Ltd., Leaf Bike these market players provide a level-playing competitive landscape.
In October 2023, Bosch to introduce next-gen electric wheel hub motor with integrated Drive Control Unit for enhanced efficiency and vehicle performance.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 13.7% from 2024 to 2032
Unit Value (USD Billion)
Segmentation
By Vehicle Type
E-bike
E-2 wheeler
By Power Output
Below 1000W
1001-3000W
Above 3000W
By Component
Stator
Rotor, Bearing & Shaft
Magnet
Others (wiring, casing)
By Position Type
Rear Hub motor
Front Hub motor
By Region
North America (By Vehicle Type, By Power Output, By Component, and By Position Type)
U.S. (By Vehicle Type)
Canada (By Vehicle Type)
Mexico (By Vehicle Type)
Europe (By Vehicle Type, By Power Output, By Component, and By Position Type)
U.K. (By Vehicle Type)
Germany (By Vehicle Type)
France (By Vehicle Type)
Rest of Europe (By Vehicle Type)
Asia Pacific (By Vehicle Type, By Power Output, By Component, and By Position Type)
China (By Vehicle Type)
India (By Vehicle Type)
Japan (By Vehicle Type)
Rest of the Asia Pacific (By Vehicle Type)
Rest of the World (By Vehicle Type, By Power Output, By Component, and By Position Type)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments –Mergers, Acquisitions and Partnerships
- 4.2. Porters Five Forces Analysis
- 4.3. Technological Development
- 4.4. Impact of Covid-19
- 5. Global Electric Vehicle Hub Motor Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.2.1. E-bike
- 5.2.2. E-2 wheeler
- 5.3. Market Analysis, Insights and Forecast – By Power Output
- 5.3.1. Below 1000W
- 5.3.2. 1001-3000W
- 5.3.3. Above 3000W
- 5.4. Market Analysis, Insights and Forecast – By Component
- 5.4.1. Stator
- 5.4.2. Rotor, Bearing & Shaft
- 5.4.3. Magnet
- 5.4.4. Others (wiring, casing & others)
- 5.5. Market Analysis, Insights and Forecast – By Position Type
- 5.5.1. Rear Hub motor
- 5.5.2. Front Hub motor
- 5.6. Market Analysis, Insights and Forecast – By Region
- 5.6.1. North America
- 5.6.2. Europe
- 5.6.3. Asia pacific
- 5.6.4. Rest of the world
- 6. North America Electric Vehicle Hub Motor Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.1.1. E-bike
- 6.1.2. E-2 wheeler
- 6.2. Market Analysis, Insights and Forecast – By Power Output
- 6.2.1. Below 1000W
- 6.2.2. 1001-3000W
- 6.2.3. Above 3000W
- 6.3. Market Analysis, Insights and Forecast – By Component
- 6.3.1. Stator
- 6.3.2. Rotor, Bearing & Shaft
- 6.3.3. Magnet
- 6.3.4. Others (wiring, casing & others)
- 6.4. Market Analysis, Insights and Forecast – By Position Type
- 6.4.1. Rear Hub motor
- 6.4.2. Front Hub motor
- 6.5. Market Analysis – By Country
- 6.5.1. The U.S.
- 6.5.1.1. By Vehicle Type
- 6.5.2. Canada
- 6.5.2.1. By Vehicle Type
- 6.5.3. Mexico
- 6.5.3.1. By Vehicle Type
- 7. Europe Electric Vehicle Hub Motor Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.1.1. E-bike
- 7.1.2. E-2 wheeler
- 7.2. Market Analysis, Insights and Forecast – By Power Output
- 7.2.1. Below 1000W
- 7.2.2. 1001-3000W
- 7.2.3. Above 3000W
- 7.3. Market Analysis, Insights and Forecast – By Component
- 7.3.1. Stator
- 7.3.2. Rotor, Bearing & Shaft
- 7.3.3. Magnet
- 7.3.4. Others (wiring, casing & others)
- 7.4. Market Analysis, Insights and Forecast – By Position Type
- 7.4.1. Rear Hub motor
- 7.4.2. Front Hub motor
- 7.5. Market Analysis – By Country
- 7.5.1. The U.K
- 7.5.1.1. Vehicle Type
- 7.5.2. Germany
- 7.5.2.1. Vehicle Type
- 7.5.3. France
- 7.5.3.1. Vehicle Type
- 7.5.4. Rest of Europe
- 7.5.4.1. Vehicle Type
- 8. Asia Pacific Electric Vehicle Hub Motor Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.1.1. E-bike
- 8.1.2. E-2 wheeler
- 8.2. Market Analysis, Insights and Forecast – By Power Output
- 8.2.1. Below 1000W
- 8.2.2. 1001-3000W
- 8.2.3. Above 3000W
- 8.3. Market Analysis, Insights and Forecast – By Component
- 8.3.1. Stator
- 8.3.2. Rotor, Bearing & Shaft
- 8.3.3. Magnet
- 8.3.4. Others (wiring, casing & others)
- 8.4. Market Analysis, Insights and Forecast – By Position Type
- 8.4.1. Rear Hub motor
- 8.4.2. Front Hub motor
- 8.5. Market Analysis – By Country
- 8.5.1. China
- 8.5.1.1. Vehicle Type
- 8.5.2. India
- 8.5.2.1. Vehicle Type
- 8.5.3. Japan
- 8.5.3.1. Vehicle Type
- 8.5.4. Rest of Asia Pacific
- 8.5.4.1. Vehicle Type
- 9. Rest of the World Electric Vehicle Hub Motor Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 9.1.1. E-bike
- 9.1.2. E-2 wheeler
- 9.2. Market Analysis, Insights and Forecast – By Power Output
- 9.2.1. Below 1000W
- 9.2.2. 1001-3000W
- 9.2.3. Above 3000W
- 9.3. Market Analysis, Insights and Forecast – By Component
- 9.3.1. Stator
- 9.3.2. Rotor, Bearing & Shaft
- 9.3.3. Magnet
- 9.3.4. Others (wiring, casing & others)
- 9.4. Market Analysis, Insights and Forecast – By Position Type
- 9.4.1. Rear Hub motor
- 9.4.2. Front Hub motor
- 10. Competitive Analysis
- 10.1. Key Industry Development
- 10.2. Global Market Ranking Analysis (2023)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles
- 10.5.1. Robert Bosch GmbH (Germany)
- 10.5.1.1. Overview
- 10.5.1.2. Products & services
- 10.5.1.3. SWOT analysis
- 10.5.1.4. Recent developments
- 10.5.1.5. strategies
- 10.5.1.6. financials (based on availability)
- 10.5.2. QS Motors (China)
- 10.5.2.1. Overview
- 10.5.2.2. Products & services
- 10.5.2.3. SWOT analysis
- 10.5.2.4. Recent developments
- 10.5.2.5. strategies
- 10.5.2.6. financials (based on availability)
- 10.5.3. Kolektor (Slovenia)
- 10.5.3.1. Overview
- 10.5.3.2. Products & services
- 10.5.3.3. SWOT analysis
- 10.5.3.4. Recent developments
- 10.5.3.5. strategies
- 10.5.3.6. financials (based on availability)
- 10.5.4. Printed Motor Works (U.K.)
- 10.5.4.1. Overview
- 10.5.4.2. Products & services
- 10.5.4.3. SWOT analysis
- 10.5.4.4. Recent developments
- 10.5.4.5. strategies
- 10.5.4.6. financials (based on availability)
- 10.5.5. NSK Ltd. (Japan)
- 10.5.5.1. Overview
- 10.5.5.2. Products & services
- 10.5.5.3. SWOT analysis
- 10.5.5.4. Recent developments
- 10.5.5.5. strategies
- 10.5.5.6. financials (based on availability)
- 10.5.6. NTN Corporation (Japan)
- 10.5.6.1. Overview
- 10.5.6.2. Products & services
- 10.5.6.3. SWOT analysis
- 10.5.6.4. Recent developments
- 10.5.6.5. strategies
- 10.5.6.6. financials (based on availability)
- 10.5.7. GEM Motors (Slovenia)
- 10.5.7.1. Overview
- 10.5.7.2. Products & services
- 10.5.7.3. SWOT analysis
- 10.5.7.4. Recent developments
- 10.5.7.5. strategies
- 10.5.7.6. financials (based on availability)
- 10.5.8. Magnetic Systems Technology (U.K.)
- 10.5.8.1. Overview
- 10.5.8.2. Products & services
- 10.5.8.3. SWOT analysis
- 10.5.8.4. Recent developments
- 10.5.8.5. strategies
- 10.5.8.6. financials (based on availability)
- 10.5.9. e-Traction B.V. (Netherlands)
- 10.5.9.1. Overview
- 10.5.9.2. Products & services
- 10.5.9.3. SWOT analysis
- 10.5.9.4. Recent developments
- 10.5.9.5. strategies
- 10.5.9.6. financials (based on availability)
- 10.5.10. Hyundai Mobis (South Korea)
- 10.5.10.1. Overview
- 10.5.10.2. Products & services
- 10.5.10.3. SWOT analysis
- 10.5.10.4. Recent developments
- 10.5.10.5. strategies
- 10.5.10.6. financials (based on availability)
- 10.5.11. YASA Limited (South Korea)
- 10.5.11.1. Overview
- 10.5.11.2. Products & services
- 10.5.11.3. SWOT analysis
- 10.5.11.4. Recent developments
- 10.5.11.5. strategies
- 10.5.11.6. financials (based on availability)
- 10.5.12. ECOmove GmbH (U.K.)
- 10.5.12.1. Overview
- 10.5.12.2. Products & services
- 10.5.12.3. SWOT analysis
- 10.5.12.4. Recent developments
- 10.5.12.5. strategies
- 10.5.12.6. financials (based on availability)
- 10.5.13. Tajima Motor Corporation (Japan)
- 10.5.13.1. Overview
- 10.5.13.2. Products & services
- 10.5.13.3. SWOT analysis
- 10.5.13.4. Recent developments
- 10.5.13.5. strategies
- 10.5.13.6. financials (based on availability)
- 10.5.14. Ananda (China)
- 10.5.14.1. Overview
- 10.5.14.2. Products & services
- 10.5.14.3. SWOT analysis
- 10.5.14.4. Recent developments
- 10.5.14.5. strategies
- 10.5.14.6. financials (based on availability)
- 10.5.15. Suzhou Tongsheng Electric Appliances Co., Ltd. (China)
- 10.5.15.1. Overview
- 10.5.15.2. Products & services
- 10.5.15.3. SWOT analysis
- 10.5.15.4. Recent developments
- 10.5.15.5. strategies
- 10.5.15.6. financials (based on availability)
- 10.5.16. Suzhou Shengyi Motor Co., Ltd. (China)
- 10.5.16.1. Overview
- 10.5.16.2. Products & services
- 10.5.16.3. SWOT analysis
- 10.5.16.4. Recent developments
- 10.5.16.5. strategies
- 10.5.16.6. financials (based on availability)
- 10.5.17. Bafang Electric (Suzhou) Co., Ltd. (China)
- 10.5.17.1. Overview
- 10.5.17.2. Products & services
- 10.5.17.3. SWOT analysis
- 10.5.17.4. Recent developments
- 10.5.17.5. strategies
- 10.5.17.6. financials (based on availability)
- 10.5.18. Leaf Bike (China)
- 10.5.18.1. Overview
- 10.5.18.2. Products & services
- 10.5.18.3. SWOT analysis
- 10.5.18.4. Recent developments
- 10.5.18.5. strategies
- 10.5.18.6. financials (based on availability)
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