The global hub motor market was valued at USD 13.06 billion in 2023 and is estimated to reach approximately USD 20.15 billion by 2032, at a CAGR of 4.9% from 2024 to 2032.

Hub motors, which provide a small, effective, and adaptable propulsion technology, completely changed the electric transportation sector. These motors acquired popularity in the late 20th century because of their special integration into the wheels, which allowed for direct power delivery without the need for extra drivetrain components. Hub motors were first used in electric bicycles, but they quickly spread to a variety of other devices, such as electric scooters, skateboards, and even cars.

Because of their design, which houses the motor and transmission components inside the wheel hub, the vehicle architecture is simplified, maneuverability is improved, and reliability is boosted because there are fewer moving parts. Hub motors were developed to support a range of power outputs as technology progressed, offering choices for a range of vehicle sizes and performance requirements. This development was crucial to the growth of the electric mobility market because it provided quiet, effective, and ecologically friendly substitutes for internal combustion engines, which helped to accelerate the transition to cleaner modes of transportation. As the demand for electric vehicles increased, the industry grew rapidly, highlighting hub motors as essential elements in determining the global landscape of sustainable transportation in the future.

HUB MOTOR MARKET: REPORT SCOPE & SEGMENTATION

Global Hub Motor Market Dynamics

Technological developments, changing consumer tastes, and regulatory restrictions have all contributed to dynamic shifts in the hub motor business. Due to high prices and low efficiency, this market initially had difficulty growing production. However the industry has expanded significantly thanks to continuing R&D, advancements in motor design, and the drive for environmentally friendly transportation. Manufacturers were forced to innovate with lighter, more powerful, and more affordable hub motors as demand increased as consumers looked for environmentally friendly transportation options.

The growth of the market was also assisted by incentives and legislative support for electric vehicles. Hub motor use has been accelerated by its adaptability in a range of vehicle types, including electric bicycles, electric cars, and delivery scooters. The market was driven by the need for efficient last-mile transportation and increased urbanization, which resulted in the incorporation of hub motors in micro-mobility solutions. Furthermore, collaborations between tech companies and automakers promoted innovation and led to the development of more cohesive and effective systems. The continuous competition to provide more affordable, higher-performance hub motors with extended operating range has affected market dynamics. The market's trajectory will continue to be shaped as it matures by variables like advances in battery technology and infrastructure, which could result in further market standardization and consolidation.

Global Hub Motor Market Drivers

• Urban Mobility Solutions

Cities that grow put more pressure on the transportation system, which results in more traffic jams, longer commutes, and higher pollution levels. An increasing number of people are pushing for an urban mobility revolution to address these problems. This motivation increases the need for creative solutions that provide cost-effective, environmentally friendly, and practical means of mobility inside cities. Hub motors are essential to this environment because they provide power to a variety of electric vehicles intended for urban transportation, including scooters, e-bikes, and small electric cars.

The necessity to develop flexible, eco-friendly transportation options suited for urban environments is what motivates the development of hub motor-driven urban mobility solutions. By solving the issues with last-mile connections, these solutions seek to lessen road congestion, cut emissions, and provide convenient transportation for short distances. Furthermore, the focus on sustainability and the move toward greener modes of transportation are consistent with the adaptability and environmental benefits of electric vehicles that have hub motors.

• Technological Advancements

Innovation is accelerating in many industries, and hub motors are no exception as advances in materials research, motor design, and manufacturing techniques keep improving their capabilities and efficiency. These developments lead to reductions in the weight and size of the motors while also improving power output, torque delivery, and overall performance. Technological advancements like these make hub motors more appealing for use in electric vehicle applications because they can provide greater energy efficiency, longer range, and enhanced dependability.

Further research and development is being done to improve motor control algorithms, optimize battery management systems, and refine regenerative braking technologies. These initiatives not only guarantee more responsive and seamless operation but also boost the efficiency of hub motor-driven cars and improve the user experience in general. Moreover, smart features and connectivity choices can be integrated into hub motor-equipped vehicles thanks to technical improvements, making them digitally upgraded and networked forms of transportation.

Restraints:

• High Initial Costs

These charges cover a wide range of topics, such as installation, technology development, and manufacturing costs. Compared to traditional propulsion systems, the creation of hub motors requires more complex engineering and specialized parts, which raises the cost of manufacturing. In addition, the integration of these motors into automobiles necessitates modifications to the design and assembly procedures, which adds to the heightened costs associated with installation.

The total cost of electric vehicles with hub motors is raised by these added expenses, which discourages consumers who are price-conscious and prevents mass-market adoption. Furthermore, the substantial upfront cost presents a problem for producers aiming to provide competitive prices in a market where affordability plays a big role in influencing buyers' selections. Even with the long-term advantages like lower maintenance and operating costs, the initial outlay is still a deterrent, especially in markets where cost-effectiveness is highly valued. Hub motor-driven electric vehicles will become more widely available and appealing to consumers if these prices are reduced by technology breakthroughs, economies of scale, and optimized production processes. This will ultimately accelerate the acceptance of these vehicles and their market growth.

• Supply Chain Disruptions

The complex web that sources components, and raw materials, and assembles hub motors is susceptible to several interruptions. As recent events have shown, major disruptions to the steady supply of materials and components can result in production halts or delays. These disruptions might be caused by natural catastrophes, geopolitical tensions, or global crises. The hazards associated with global supply chains are increased by their interconnection since a disruption in one area might have an impact on the entire network and several industrial stages.

The ecosystem of the supply chain is made more unstable by the reliance on materials or specialized parts that are exclusive to hub motors. Production schedules can be severely hampered by shortages or delays in obtaining these particular parts, which can impact not only the hub motor manufacturers but the whole electric car market that depends on these propulsion systems. These delays frequently result in greater expenses because of accelerated delivery, more expensive alternative suppliers, or vacant production lines. This has an impact on profitability and could raise pricing for customers.

Opportunities:

• Electric Vehicle Penetration

Electric cars (EVs) are becoming more and more popular as a mainstream substitute for internal combustion engine vehicles as the global automotive industry experiences a revolutionary transition toward sustainable mobility. Hub motors become essential parts of this shift because of their effectiveness, small size, and wide range of applications in different EV platforms. Hub motor-equipped EVs are becoming more and more popular as customer preferences shift toward greener and more energy-efficient forms of mobility.

Hub motor manufacturers now have the opportunity to profit from a market that is growing quickly thanks to this trend. Hub motor manufacturers can broaden their product line and increase their market share by meeting the growing need for electric vehicle propulsion systems. Furthermore, hub motors' versatility and scalability for use in a range of vehicle applications from electric scooters and bicycles to small automobiles and delivery vans fit in nicely with the burgeoning EV market.

• Urbanization and Last-Mile Solutions

Hub motors have a bright future in the field of electric mobility because of the continuous trend of urbanization and the rising demand for effective last-mile transportation options. Condensed, convenient, and environmentally friendly transit choices are becoming more and more necessary as cities get denser. Hub motors provide a suitable answer, allowing the creation of electric scooters, bicycles, and micro-mobility vehicles that meet the demands of city commuters.

The trend toward urbanization is increasing demand for compact, space-efficient transportation options that can maneuver through congested areas and provide a sustainable substitute for conventional automobiles. Hub motors, which are integrated into wheels, offer a small and effective power system that is perfect for these city-focused vehicles. Their agility is enhanced by their ability to effortlessly integrate into smaller vehicles, which makes them ideal for negotiating crowded urban situations and offering effective last-mile connectivity. The potential is in meeting the changing demands of city people with electric cars that have hub motors, which are user-friendly, have no effect on the environment, and provide useful short-distance commuting options.

Segment Overview

By Motor Type

Based on motor type, the global hub motor market is divided into geared and gearless. The geared category dominates the market with the largest revenue share in 2023. A gear system is included into the motor casing of these motors. When there are steep climbs or greater torque needs, they use gears to enhance torque, enabling more effective power delivery.

Geared hub motors are ideal for vehicles that frequently travel over uneven terrain, such as electric bicycles, because they usually show better efficiency at lower speeds. These motors' gear reduction system gives them advantages in terms of efficiency and versatility as well as improved control over the motor's revolutions per minute (RPM). Gearless hub motors use a direct-drive technique in which the motor is built into the wheel hub itself, eliminating the need for a gearbox.

These motors have fewer moving parts and a simpler design, which means they require less maintenance and are more reliable. Gearless hub motors are ideal for applications where smoother performance or consistent speed are crucial, like larger electric vehicles or scooters, because they can offer higher velocities and are frequently more efficient at these speeds.

By Power Output

Based on the power output, the global hub motor market is categorized into below 3 KW, 3 - 5 KW, 5-10 KW, and above 10 Kw. The 3 - 5 KW category leads the global hub motor market with the largest revenue share in 2023. Hub motors in this category have a moderate power output, making them appropriate for a wider variety of electric cars. They are frequently seen in small electric cars, mopeds, and mid-sized electric scooters.

These motors satisfy applications that call for a combination of speed and maneuverability by striking a balance between power and efficiency. Hub motors in the sub-3 KW range usually have lower power outputs, which makes them appropriate for lightweight city commuter cars, electric bicycles, and folding e-scooters, among other smaller electric vehicles. These motors are designed for short-distance and urban transportation, putting efficiency and agility above of high-speed performance.

Hub motors within 5 - 10 kW range deliver higher power outputs, making them suitable for more demanding applications. They are commonly used in larger electric motorcycles, high-performance scooters, or mid-sized electric cars. These motors offer enhanced acceleration and performance while maintaining efficiency and reliability. Hub motors in above 10 kW category are high-performance motors designed for larger electric vehicles or high-speed applications. They are often employed in electric motorcycles, high-performance sports vehicles, or heavy-duty electric cars, offering substantial power output for superior acceleration and performance.

By Installation Type

Based on installation type, the global hub motor market is segmented into front hub motor and rear hub motor. The rear hub motor segment dominates the hub motor market. According to its name, rear hub motors are mounted inside a car's rear wheels. When it comes to traction and weight distribution, rear hub motors are advantageous for electric bikes. Because the back wheel is driven directly by the motor, they can offer a more natural riding feel. Hub motors at the back are more common in electric cars. Their main function is to supply power and propulsion to the rear wheels.

They are frequently found in all-wheel-drive or rear-wheel-drive electric cars. Whether it's an electric bike, scooter, or car, these hub motors are built right into the front wheels. Front hub motors are a popular option for electric bicycles and scooters because of how easy they are to install and maintain. They drive the front wheel directly, which gives them propulsion. Even though front hub motors are less prevalent in electric automobiles, they can be included in some designs for particular functions, such as enhancing traction in all-wheel drive setups or working in tandem with rear motors to increase efficiency and handling.

By Sales Channel

Based on sales channels, the global hub motor market is divided into OEM and aftermarket. The OEM category dominates the market with the largest revenue share in 2023. In the OEM market, hub motors are produced and supplied directly to automakers for first installation in their cars at the point of manufacture. In the OEM sector, hub motor manufacturers usually collaborate with automakers, electric bike manufacturers, or other vehicle producers to design and create motors that adhere to vehicle norms and specifications. Hub motors are distributed and sold as upgrade or replacement parts in the aftermarket segment, which follows the manufacturing and sale of the vehicle.

Aftermarket hub motors are sold as stand-alone parts for replacing or improving preexisting systems to consumers, repair shops, and car owners. For a variety of applications, including replacing a damaged motor in an electric vehicle or adding a more potent motor to their electric bicycles, consumers may choose to install aftermarket hub motors.

By Vehicle Type

Based on the vehicle type, the global hub motor market is categorized into e-bikes, e-motorcycles, e-scooters, electric passenger vehicles, electric utility vehicles, electric heavy-duty vehicles, and others. The e-bikes category leads the global hub motor market with the largest revenue share in 2023. Bicycles having electric motors driven by rechargeable batteries are known as e-bikes. E-bikes frequently have hub motors in the front or rear wheel to help riders by giving them propulsion or aid when they pedal. E-motorcycles are motorbikes that run on electricity and are propelled by hub motors. These motors, which provide torque and speed to move the motorcycle, come in a variety of sizes and powers.

Hub motors are used in the propulsion of electric scooters for both private and shared mobility services. These little engines are frequently built inside the wheels, which improves the efficiency and usability of the scooter. Electric cars and other vehicles intended primarily for passenger transportation are classified as electric passenger vehicles. In electric passenger cars, hub motors can be used in all-wheel drive, rear-wheel drive, or front-wheel drive configurations to power the wheels.

A variety of vehicles utilized for transportation, upkeep, or logistics in commercial or industrial environments are referred to as electric utility vehicles. These vehicles, which include carts, vans, and utility trucks, may be propelled by hub motors. Larger electric cars intended for heavy-duty applications, such as industrial settings or the transportation of cargo, are referred to as electric heavy-duty vehicles. Hub motors are a common propulsion system used in heavy-duty vehicles such as electric buses, trucks, and specialist vehicles. This adds to the vehicles' power and efficiency.

Global Hub Motor Market Overview by Region

The global hub motor market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific emerged as the leading region, capturing the largest market share in 2023. The demand for electric cars (EVs) has increased throughout the region due to several factors, including a growing population, fast urbanization, and growing environmental concerns. China, India, Japan, and South Korea are among the nations that have played a crucial role in driving this market ahead. These countries not only have excellent manufacturing capacities, but their governments also strongly encourage the adoption of electric vehicles (EVs) and make investments in environmentally friendly transportation infrastructure.

The region's ever-changing technical environment has encouraged research and innovation in electric propulsion systems, leading to significant breakthroughs in hub motor technology. The market gains from the existence of top automakers, electronics firms, and a strong supply chain, which guarantees effective production and delivery of these motors. Furthermore, Asia-Pacific's high density of metropolitan areas has increased demand for efficient and compact electric mobility solutions, of which hub motors are an essential component. The Asia-Pacific area is leading the way in accepting and growing the hub motor market as customer preferences shift towards more environmentally friendly transportation options. It has established itself as a global center for electric vehicle innovation and production.

Over the course of the forecast period, North America is anticipated to post a significant CAGR. The need for greener transportation solutions is fueled by rising environmental awareness, strict emissions laws, and government subsidies. Furthermore, consumer confidence and enthusiasm in electric mobility are bolstered by technological improvements and the growing electric vehicle ecosystem. North America expects a significant CAGR due to the region's increasing adoption of EVs and the hub motor industry that goes along with it, as well as an increasing focus on environmental practices.

Global Hub Motor Market Competitive Landscape

In the global hub motor market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global hub motor market include,

• QS MOTOR LTD.
• Schaeffler AG
• Elaphe LTD.
• NTN Corporation
• TDCM
• Robert Bosch GmbH
• Bafang Electric (Suzhou) Co., Ltd
• Heinzmann GmbH & Co. KG
• Leaf Motor
• Cutler MAC (Shanghai) Brushless Motor Co., Ltd., and various others.

Global Hub Motor Market Recent Developments

• In March 2023, Schaeffler used in-wheel electric drives to electrify municipal utility vehicles. Schaeffler provides fully electric wheel hub motors to its initial clients. Compact vans, snowplows, and road-sweeping vehicles all have in-wheel electric propulsion, which reduces noise pollution and increases maneuverability. Novel drive technology facilitates novel vehicle layouts and speeds up the electrification of municipal utility vehicles.
• In August 2022, the design of user-centric E-kickscooters and business models for enhancing intermodality (DREEM) programs to create and test e-motors was announced by Elaphe Ltd. The project's goal is to create a 350W gearless hub motor that is dependable and modular so that it may be used with 3-wheel e-kickscooters that have enhanced, foldable, and modular safety measures.
• In January 2022, the biggest e-bike player in Switzerland is acquired by TVS Motor. Through its Singaporean subsidiary, TVS Motor (Singapore), TVS Motor acquired in an all-cash transaction.

Scope of the Global Hub Motor Market Report

Hub Motor Market Report Segmentation

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

• Global Hub Motor Market Size and Forecast: To identify and estimate the market size for the global hub motor market segmented by motor type, by power output, by installation type, by sales channel, by vehicle type, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of hub motor between 2019 and 2032.
• Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global hub motor market
• Market Influencing Factors: To find out the factors which are affecting the sales of hub motor among consumers
• Impact of COVID-19: To identify and understand the various factors involved in the global hub motor market affected by the pandemic
• Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

• Automotive Manufacturers
• Government Agencies and Policymakers
• Research and Development Professionals
• Supply Chain and Logistics Companies
• Investors and Trade Experts