Press release
Motorcycle Hub Motor Market Anticipated to Expand at a CAGR of Around 5.3% & Key Players are QS MOTOR, Schaeffler AG, MICHELIN, Elaphe Ltd., NTN Corporation, TAJIMA EV, TDCM, GO SwissDrive, Leaf Motor, Robert Bosch GmbH, Specialized Bicycle Components
The global motorcycle hub motor market is segmented by vehicle type, installation type, motor type, sales channel and output type. On the basis of vehicle type, it is sub-segmented into E-bikes, E-scooters/mopeds and E-motorcycles, out of which, e-bikes segment is anticipated to have largest market share on the back of high torque, better vehicle handling and increased power in both existing and new vehicles. Based on installation type, it is sub-segmented into front hub motor and rear hub motor, out of which, the rear hub motor segment is expected to dominate the market on the back of its powerful acceleration, high power handling, better traction and high flexibility. The market is further segmented by motor type into gearless hub motor and geared hub motor; by output type into below 1000W, 1000-3000W and above 3000W; by sales channel into aftermarket and original equipment manufacturer (OEM).
The global Motorcycle Hub Motor Market is anticipated to expand at a CAGR of around 5.3% during the forecast period i.e. 2019-2027. Increasing sales of electric two wheelers on the back of growing ecological concerns are expected to boost the growth of the market. Further, the significant features of hub motors such as enhancement in vehicle performance efficiency, traction control, better vehicle handling and increased power level are expected to affect the market of hub motors positively over the forecast period.
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Geographically, the global motorcycle hub motor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia-Pacific is expected to dominate the market on account of rising ecological concerns among people and increasing production and sales of electrical two-wheelers in the region. Further, stringent government rules and regulations to produce electric vehicles for conserving fuels is a notable factor that is anticipated to support the growth of the market in Asia-Pacific region.
Growing Demand for Electric Two-Wheelers
The stringent government rules promoting the use of vehicles that do not emit CO2 and use renewable power resources rather than using conventional resources of energy are some of the significant factors that are supporting the growth of the market. Further, better vehicle handling, increasing power level and rising vehicle performance efficiency are some of noteworthy factors that are expected to augment the demand for hub motors in upcoming years.
However, the presence of alternatives at lower rates and lack of awareness regarding motorcycle hub motors among people is expected to hamper the growth of the market during the forecast period.
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The report titled “Motorcycle Hub Motor Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global motorcycle hub motor market in terms of market segmentation by vehicle type, by installation type, by motor type, by sales channel and by output type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global motorcycle hub motor market which includes company profiling of key companies such as QS MOTOR, Schaeffler AG, MICHELIN, Elaphe Ltd., NTN Corporation, TAJIMA EV, TDCM, GO SwissDrive, Leaf Motor, Robert Bosch GmbH, Specialized Bicycle Components, Trek Bicycle Corporation, Zero Motorcycles Inc., Heinzmann GmbH & Co. KG, Accell Group, Fuji-ta Bicycle Co.Ltd., MERIDA BIKES and UU Motor Technology Co. Limited. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global motorcycle hub motor market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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