Global Two Wheeler Hub Motors Market to Reach $25.9 Billion by 2030
The global market for Two Wheeler Hub Motors estimated at US$13.7 Billion in the year 2023, is expected to reach US$25.9 Billion by 2030, growing at a CAGR of 9.5% over the period 2023-2030. Rear Hub Motor, one of the segments analyzed in the report, is expected to record 9.8% CAGR and reach US$23.8 Billion by the end of the analysis period. Growth in the Front Hub Motor segment is estimated at 6.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.6 Billion, While China is Forecast to Grow at 13.7% CAGR
The Two Wheeler Hub Motors market in the U.S. is estimated at US$3.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.7 Billion by the year 2030 trailing a CAGR of 13.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.1% and 8.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 6% CAGR.
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