Press release
Rising Demand For Electric Vehicles Drives Hub Motor Market Growth Globally: A Significant Driver Propelling The Hub Motor Market In 2025
Hub Motor
What Is the Hub Motor Market Size and Projected Growth Rate?
The hub motor market has shown strong growth in recent years. It is projected to grow from $13.34 billion in 2024 to $14.16 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. This growth is driven by the rising demand for electric vehicles, government subsidies, environmental awareness, increasing urbanization, and consumer preference for eco-friendly transportation options.
The hub motor market is forecasted to see strong growth, reaching $17.74 billion by 2029 at a CAGR of 5.8%. This growth is supported by the adoption of smart transportation solutions, regulatory support for electric vehicles, the development of fast-charging infrastructure, a focus on sustainable mobility, and rising disposable incomes. Major trends include the shift towards shared mobility, the development of compact electric vehicles, energy efficiency improvements, customization options, and the convergence of mobility and digital technologies.
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What Are the Major Segments in the Hub Motor Market?
The hub motor market covered in this report is segmented -
1) By Motor: Geared Hub Motor, Gearless Hub Motor
2) By Power Output: Below 1000 W, 1000-3000 W, Above 3000 W
3) By Vehicle Type: Electric Bike (E-Bike), Electric Motorcycle (E-Motorcycle), Electric Scooter (E-Scooter), Electric Passenger Vehicles, Electric Utility Vehicles, Electric Heavy-Duty Vehicles, Other Vehicles
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Geared Hub Motor: Internal Geared Hub Motor, External Geared Hub Motor, Dual Gear Hub Motor, High Torque Geared Hub Motor
2) By Gearless Hub Motor: Direct Drive Hub Motor, Brushless Gearless Hub Motor, High-Speed Gearless Hub Motor, Low Power Gearless Hub Motor
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What Are The Driving Hub Motor Market Evolution?
The increasing demand for electric vehicles (EVs) is expected to boost the growth of the hub motor market. As environmental awareness increases and battery technology improves, the demand for EVs is rising. Hub motors, which integrate the electric propulsion system into the wheels of vehicles, play a crucial role in improving the efficiency, performance, and range of electric vehicles. In 2023, global EV sales surged, with 14 million new electric cars registered, marking a 35% year-on-year increase. This growth in electric vehicle adoption is expected to drive the demand for hub motors, which offer a compact and efficient solution for EVs.
Which Firms Dominate The Hub Motor Market Segments?
Major companies operating in the hub motor market are Robert Bosch GmbH, Siemens AG, Schaeffler AG, NSK Ltd., NTN Corporation, Accell Group, ZIEHL-ABEGG, Kolektor, Elaphe Propulsion Technologies Ltd., Heinzmann GmbH & Co. KG, TDCM, Evans Electric, Leaf Motor, Printed Motor Works, QS MOTOR LTD, Tajima Motor Corporation, Auto Forest, Boom Motors, VR ENGINEERS, CHANGZHOU MXUS IMP& EXP CO. LTD, Leaf Bike
What Hub Motor Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the hub motor market are paving the way with their innovative products such as electric bicycle (e-bike) hub motor systems, designed to deliver excellent performance across all terrains with superior and efficient choices. Electric bicycle (e-bike) hub motor systems are integrated propulsion units situated in the bike's hub, which provide electric assists to bicycles driven by pedals. A clear example of this is the launch of the MAHLE X30 drive system by the Spain-based eBike company, MAHLE SmartBike Systems, in June 2024. The system is equipped with a robust 45 Nm torque hub motor which weighs just 1.9 kg, furnishing improved efficiency and range with the capacity to travel up to 190 km on one charge. MAHLE's digital ecosystem and AI-driven adaptive assist mechanisms are seamlessly integrated, forming a significant upgrade. This option is an attractive one for eBike manufacturers looking for powerful and customizable solutions in the competitive hub motor market.
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Which Is The Largest Region In The Hub Motor Market?
Asia-Pacific was the largest region in the hub motor market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hub motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hub Motor Market?
2. What is the CAGR expected in the Hub Motor Market?
3. What Are the Key Innovations Transforming the Hub Motor Industry?
4. Which Region Is Leading the Hub Motor Market?
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