Press release
Why are Carbon Emissions Key Driver for Two-Wheeler Hub Motor Market?
The global two-wheeler hub motor market valued $4,838.5 million in 2018, and it is projected to reach $8,458.7 million by 2024, at a CAGR of 9.8% during the forecast period (2019-2024). The main drivers for the growth of the market arethe high demand for electric two-wheelersdue to concernsover the environmental impact caused by fossil-fuel-powered vehicles.The hub motor is integrated into the hub of an electric two-wheelerwheel. It converts electrical energy into mechanical energy to propelthe vehicle.Request to get the sample pages of the report: https://www.psmarketresearch.com/market-analysis/two-wheeler-hub-motor-market/report-sample
On the basis of vehicle type, the two-wheeler hub motor market is bifurcatedinto e-bikes and e-scooters and e-motorcycles. The latter bifurcationis expected to grow at thehigher volume CAGR, of 12.3%, in the market during the forecast period, due to the rising adoption of these clean-energy vehicles, primarily in sharing services. To curb the accelerating carbon emissions, the concept of environmental-friendly transportis being promoted via e-scooters and e-motorcycles. Thus, such initiatives implemented by the governments, as an effort to reduce pollution, are driving the market.
The demand for electric two-wheelershas witnessed notable growth in recent years, which can be attributed to the governing authorities enforcing laws to promote them. The demand for electric vehicles (EVs) has amplified in urban places, particularly in those cities where the carbon emission is skyrocketing. In Europe, standards for motorcycles state that those manufactured January 2016 onward must be checked for performance and carbon emissions.These factors are driving the demand for electric two-wheelers, and that has led to the growth of two-wheeler hub motor market.
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Competitive Landscape of Two-Wheeler Hub Motor Market
The global two-wheeler hub motor market is highly fragmented in nature. The top five players in the market together accounted for less than 40.0% of the market revenue in 2018. Yadea Technology Group Co. Ltd. was the market leader, followed by Robert Bosch GmbH, Ananda Drive Techniques Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., and Zhejiang Luyuan Electric Vehicle Co. Ltd.
Harley-Davidson Inc. announced the launch of its electric motorcycle, LiveWire, by 2019, which will be comprised of a hub motor with maximum power of 78 kW. Further, in July 2019, Robert Bosch GmbH announced the launch of a joint-venture with MAGURA Bike Parts, under the name MAGURA Bosch Parts & Services GmbH & Co. KG. The development is intended to expand Bosch's services and strengthen its presence in the e-bike market in Europe in the long run.
Some other players operating in the two-wheeler hub motor market are Bafang Holding Group Co. Ltd., Shenzhen Xiaobaima Energy Tech Co. Ltd., Electrotherm (India) Ltd., Wuxi Amthi Electrical Machinery Co. Ltd., Yamaha Motor Co. Ltd., Hitachi Automotive Systems, Golden Motor Technology Co. Ltd., and Falcon PEV Pte. Ltd.
Market Segmentation by Vehicle Type
E-Bikes
E-Scooters and Motorcycles
Market Segmentation by Motor Power
4 kW
Market Segmentation by Motor Architecture
Brushed Motor
Brushless Direct Current (BLDC) Motor
Permanent Magnet Synchronous Motor (PMSM)
Induction Motor
Market Segmentation by Motor Type
AC Motor
DC Motor
Market Segmentation by End Use
OEM
Aftermarket
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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