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Hub Motor Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2019 - 2024

01-31-2020 12:31 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: IndustryARC

Hub Motors Market

Hub Motors Market

Automotive Hub Motor Market is forecast to reach $13.8 billion by 2025 growing at a CAGR of 7.2% during 2020-2025. Increased demand for electric vehicles, stringent government rules for reducing fossil fuel vehicles are expected to accelerate the Hub Motor Market during forecast period. For instance, countries like India and China planning to ban fossil fuel vehicles by 2030 and hence the demand for electric vehicles are likely to be more in these countries by 2030. Similarly, the Environmental Protection Agency of United states in 2019 are planning to implement new environmental and emission rules, which will likely to create new opportunity for electric vehicles in this country there by creating demand for hub motor market.

Download Sample Report @ http://bit.ly/Hub_Motors_Market

By Installation type- Segment Analysis
Rear Hub Motor segment dominated the hub Motor market share in 2018. Most of the electric two wheeler manufacturers prefer to deploy hub motors in the rear wheel to take advantage of the traction control.Apart from that, rear hub motor provides high power handling, powerful acceleration, and high flexibility. Hence, these motors are now widely used in modern electric and hybrid vehicle.

By Motor type- Segment Analysis
The geared hub motor is the largest and the fastest growing segment with a CAGR of 5.30% as it provides the flexibility in controlling the speed of the vehicle. Geared hub motors provide high torque which helps in driving the vehicle easily. Geared hub motors are lighter in weight and smaller in size and hence is suitable for e-bike application.
China is the largest market for Hub Motor in Asia Pacific because it is promoting the use of electric two wheelers to lower the rising pollution and vehicle emissions in the country. It is the world's largest producer of e-bikes, electric bike kit. According to China Automotive association around 15.05 million e-bikes were sold in China in 2018. Increase in sales of electric two wheelers will lead to the increase in sales of geared hub motors.

Geography- Segment Analysis
In 2018, APAC dominated the Hub Motor market size with a share of more than 62.5%. The economy of APAC is majorly influenced by the countries such as China and India. In these countries, the government are aggressively implementing regulatory framework to reduce the environmental footprint and fuel consumption in automobiles. According to new regulation in China, the government is planning to ban the production and sales of fossil fuel vehicles. Similarly, China is creating opportunity for Hub Motor industry with the increased sales of electric bikes and electric scooters.

Related Reports :
a. Electric Vehicle Market
b. Automotive Motors Market

IndustryARC
Plot No. 56, HUDA Techno Enclave LP Towers, Opp. Melange Tower, Madhapur, Hyderabad, Telangana 500081
Mr. Venkat Reddy
Email: sales@industryarc.com
Phone: +1 970-236-3677

About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

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