Summary

Hub Motor Market Growth & Trends

The global hub motor market size is expected to reach USD 17.50 billion by 2030, growing at a CAGR of 4.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing substantial growth due to the rising demand for electric vehicles (EVs) with strong driving capabilities. According to a study by the International Energy Agency (IEA), global electric car sales exceeded 10 million units in 2022. Notably, electric cars' market share has shown remarkable growth in the last three years, more than tripling from around 4% in 2020 to a significant 14% in 2022. Hub motors possess advantages such as compactness, high torque, and enhanced traction compared to other motor types, making them an optimal choice for EV manufacturers.

Governments across the globe are implementing stringent policies and regulations to reduce carbon emissions and promote electric vehicle adoption. Their approach toward providing subsidies and incentives to EV manufacturers, such as tax credits and rebates, is expected to aid them in manufacturing more affordable electric vehicles. Thus, the growing demand for affordable electric vehicles from consumers is expected to increase the adoption of hub motors from auto manufacturers, further supporting the growth of the target market.

Hub motors find wide applicability apart from the automotive industry. They are extensively used in various industry verticals for applications such as electric wheelchairs, mobility scooters, and robotic platforms. Their compact design and high efficiency are benefits that help in the easy integration of these motors into electrical products. Thus, increasing demand for hub motors from the electronics, robotics, and aerospace industries is anticipated to impact the growth of the target market positively.

Hub Motor Market Report Highlights

• The hub motor industry is experiencing rapid growth driven by the global push toward electric mobility

• Based on motor type, the geared segment dominated with a market share of 74.8% in 2022 and is expected to continue to retain its dominance over the forecast period

• Based on installation type, the rear hub segment is projected to grow at the fastest CAGR over the forecast period. The growth is attributed to better traction and stability compared to front hub motors

• Based on sales channel, the OEM segment is expected to have the highest CAGR over the forecast period, owing to the warranty coverageand after-sales support from the manufacturers

• Based on vehicle type, the e-bikes segment held the largest market share of 28.7% in 2022. This can be attributed to the convenient and efficient mode of transportation, particularly for short-distance travel in urban areas

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definitions
1.3. Research Methodology
1.4. Research Assumptions
1.5. List of Data Sources
1.5.1. Secondary Sources
1.5.2. Primary Sources
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segmental Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope Outlook
3.1. Market Lineage Outlook
3.2. Hub Motor Market Value Chain Analysis
3.3. Hub Motor Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint/Challenge Analysis
3.3.3. Market Opportunity Analysis
3.4. Industry Analysis - Porter’s Five Forces Analysis
3.4.1. Supplier Power
3.4.2. Buyer Power
3.4.3. Substitution Threat
3.4.4. Threat of New Entrants
3.4.5. Competitive Rivalry
3.5. Hub Motor Market PESTEL Analysis
3.5.1. Political Landscape
3.5.2. Economic Landscape
3.5.3. Social Landscape
3.5.4. Technology Landscape
3.5.5. Environmental Landscape
3.5.6. Legal Landscape
3.6. Impact of COVID-19 on the Hub Motor Market
Chapter 4. Hub Motor Market Motor Type Outlook
4.1. Hub Motor Market, By Motor Type Analysis & Market Share, 2022 & 2030
4.2. Geared
4.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
4.3. Gearless
4.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 5. Hub Motor Market Power Output Outlook
5.1. Hub Motor Market, By Power Output Analysis & Market Share, 2022 & 2030
5.2. Below 3 KW
5.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.3. 3 - 5 KW
5.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.4. 5-10KW
5.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.5. Above 10KW
5.5.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 6. Hub Motor Market Installation Type Outlook
6.1. Hub Motor Market, By Installation Type Analysis & Market Share, 2022 & 2030
6.2. Front Hub Motor
6.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
6.3. Rear Hub Motor
6.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
6.4. Both Front Hub Motor
6.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
6.5. Both Rear Hub Motor
6.5.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 7. Hub Motor Market Sales Channel Type Outlook
7.1. Hub Motor Market, By Sales Channel Analysis & Market Share, 2022 & 2030
7.2. OEM
7.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
7.3. Aftermarket
7.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 8. Hub Motor Market Vehicle Type Outlook
8.1. Hub Motor Market, By Vehicle Type Analysis & Market Share, 2022 & 2030
8.2. E-Bike
8.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
8.3. E-motorcycle
8.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
8.4. E-scooter
8.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
8.5. Electric Passenger Vehicle
8.5.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
8.6. Electric Utility Vehicle
8.6.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
8.7. Electric Heavy-Duty Vehicle
8.7.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
8.8. Others
8.8.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 9. Hub Motor Market: Regional Estimates & Trend Analysis
9.1. Hub Motor Market Share by Region, 2022 & 2030
9.2. North America
9.2.1. Market estimates and forecasts, 2017 - 2030
9.2.2. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.2.3. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.2.4. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.2.5. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.2.6. Market estimates and forecasts By Vehicle Type, 2017 - 2030 (USD Million)
9.2.7. U.S.
9.2.7.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.2.7.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.2.7.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.2.7.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.2.7.5. Market estimates and forecasts By Vehicle Type, 2017 - 2030 (USD Million)
9.2.8. Canada
9.2.8.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.2.8.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.2.8.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.2.8.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.2.8.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.3. Europe
9.3.1. Market estimates and forecasts, 2017 - 2030
9.3.2. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.3.3. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.3.4. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.3.5. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.3.6. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.3.7. UK
9.3.7.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.3.7.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.3.7.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.3.7.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.3.7.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.3.8. Germany
9.3.8.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.3.8.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.3.8.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.3.8.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.3.8.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.3.9. France
9.3.9.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.3.9.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.3.9.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.3.9.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.3.9.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.4. Asia Pacific
9.4.1. Market estimates and forecasts, 2017 - 2030
9.4.2. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.4.3. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.4.4. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.4.5. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.4.6. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.4.7. China
9.4.7.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.4.7.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.4.7.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.4.7.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.4.7.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.4.8. India
9.4.8.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.4.8.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.4.8.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.4.8.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.4.8.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.4.9. Japan
9.4.9.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.4.9.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.4.9.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.4.9.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.4.9.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.4.10. South Korea
9.4.10.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.4.10.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.4.10.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.4.10.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.4.10.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.4.11. Australia
9.4.11.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.4.11.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.4.11.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.4.11.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.4.11.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.5. Latin America
9.5.1. Market estimates and forecasts, 2017 - 2030
9.5.2. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.5.3. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.5.4. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.5.5. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.5.6. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.5.7. Brazil
9.5.7.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.5.7.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.5.7.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.5.7.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.5.7.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.5.8. Mexico
9.5.8.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.5.8.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.5.8.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.5.8.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.5.8.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.6. Middle East & Africa
9.6.1. Market estimates and forecasts, 2017 - 2030
9.6.2. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.6.3. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.6.4. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.6.5. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.6.6. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.6.7. Kingdom of Saudi Arabia (KSA)
9.6.7.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.6.7.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.6.7.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.6.7.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.6.7.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.6.8. UAE
9.6.8.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.6.8.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.6.8.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.6.8.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.6.8.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
9.6.9. South Africa
9.6.9.1. Market estimates and forecasts, By Motor Type, 2017 - 2030 (USD Million)
9.6.9.2. Market estimates and forecasts, By Power Output, 2017 - 2030 (USD Million)
9.6.9.3. Market estimates and forecasts, By Installation Type, 2017 - 2030 (USD Million)
9.6.9.4. Market estimates and forecasts, By Sales Channel, 2017 - 2030 (USD Million)
9.6.9.5. Market estimates and forecasts, By Vehicle Type, 2017 - 2030 (USD Million)
Chapter 10. Hub Motor Market Competitive Landscape
10.1. Key Market Participants
10.1.1. QS MOTOR LTD
10.1.2. Schaeffler AG
10.1.3. Elaphe LTD
10.1.4. NTN Corporation
10.1.5. TDCM
10.1.6. Robert Bosch GmbH
10.1.7. Bafang Electric (Suzhou) Co., Ltd.
10.1.8. Heinzmann GmbH & Co. KG
10.1.9. Leaf Motor
10.1.10. Cutler MAC (Shanghai) Brushless Motor Co., Ltd
10.2. Key Company Market Share Analysis, 2022
10.3. Company Categorization
10.4. Strategic Mapping
10.4.1. Expansion
10.4.2. Mergers & Acquisition
10.4.3. Partnerships & Collaborations
10.4.4. Product/service launch
10.4.5. Others