Two Wheeler Hub Motor Market

Two Wheeler Hub Motor Market to Hit $16.8 Billion By 2027

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The global Two Wheeler Hub Motor market size is expected to be worth around US$ 16.8 billion by 2027, according to a new report by Vision Research Reports.

The global Two Wheeler Hub Motor market size was valued at US$ 8.1 billion in 2019 and is anticipated to grow at a CAGR of 9.6% during forecast period 2020 to 2027.

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Growth Factors

Hub motor is an electric motor integrated into the vehicle’s wheel hub assembly. The motor uses the electric energy stored in the battery by converting it into rotary motion, thereby driving the vehicle’s drivetrain. These types of motors are generally used. The changing end user preference towards the adoption of zero-emission vehicles owing to increasing awareness of global warming is anticipated to fuel market growth. Moreover, favorable government policies such as stringent regulations to curb the (CO2) emission, and subsidies for electric two-wheeler manufacturers and end-users are also projected to uplift market growth over the forecast period.

Increasing demand for electric two-wheelers and stringent government regulations for reducing the carbon footprint is projected to market growth. Furthermore, improved vehicle performance, reliability, and driving range are some factors that are projected to influence the demand for hub motors over the next seven years.

Vehicle Type Insights

Based on vehicle type, the market is segmented into electric scooter/moped, electric bike, electric motorcycle, and others, which include electric kick scooters and electric skateboards. The electric bike segment dominated the market in 2019 and was valued at USD 4.6 billion. The two-wheeler hub motors are prominently used in electric bikes owing to factors such as increased power/speed, high torque, extended range per single charge. It offers better vehicle handling to both existing and new vehicles due to its lightweight design. For instance, the growing support from regulatory bodies in Norway and France and the OEM’s efforts to expand the present electric bike fleet are anticipated to drive the sales of electric bikes from 2020 to 2027.

The electric motorcycle and electric scooter segments are anticipated to exhibit a CAGR of 11.7% and 10.6% respectively, from 2020 to 2027. This can be attributed to the growing sales of these vehicles, fueled by various governments’ initiatives in the form of incentives and subsidies. For instance, in U.S., the goal of the Governor of California to reach 1.5 million zero-emission vehicles by 2025 is contributing to the regional demand. U.S. is expected to emerge as a favorable adopter of electric scooters as new products are being introduced and various large-scale manufacturers, such as Mahindra GenZe, have entered the U.S. market.

Installation Insights

Based on the installation, the two wheeler hub motor market is segmented into rear and front hub motor. The rear hub motor segment accounted for the majority share of the overall market in 2019 and was valued at USD 7.3 billion. The manufacturers prefer to install two-wheeler hub motors to the rear wheel as it offers better traction, improved stability, and higher vehicle performance. Therefore, the market is also anticipated grow over the forecast period.

Most of vehicle weight is centered towards rear-end of the vehicle, thus a rear two-wheeler hub motor offers much more traction than a front two-wheeler hub motor. However, configuration and aftermarket installation of front in-wheel motor is relatively more straightforward as compared to rear in-wheel motor. Besides, the front two-wheeler hub motor system incurs low maintenance cost and is easier to service. Therefore, the front hub motor segment is poised to grow at a considerable CAGR of 7% from 2020 to 2027.

Motor Insights

Based on motor, the market is segmented into geared hub motor and gearless hub motor. The geared hub motor segment dominated the market in 2019 and is projected to continue the trend over the forecast period. Geared two-wheeler hub motors have planetary gears to reduce the speed of the vehicle, though; they allow the motor to rotate at faster speeds. Two-wheeler hub motors are commonly geared type for better durability and speed control. Moreover, geared motors are smaller in size and are lightweight, and are hence preferred by majority of the electric 2-wheeler manufacturers. Hence, the segment accounted for over 79.0% share of the overall market revenue in 2019.

Gearless two-wheeler hub motors are capable of providing large amounts of power and torque. This makes them especially well-suited for higher performance electric vehicles. However, they are generally heavy and bulky which adds to overall vehicle weight and reduces vehicle performance. Therefore, OEMs select geared or gearless motor as per the required weight and power of the vehicle. Moreover, the gearless hub motor segment is expected to witness a CAGR of 8.3% over the forecast period.

Sales Channel Insights

Based on sales channel, the market has been segmented into OEM and aftermarket. OEM’s dominated the market in 2019, as majority of the end users prefer to buy two-wheelers with company fitted electric motors. In addition, the increasing preference of end-users for electric scooters and motorcycles as a replacement of traditional scooter or motorcycle for daily commute is one of the influential factors driving growth of the OEM segment. Besides, the rising rate of exporting and manufacturing electric two-wheelers is also responsible for the increasing market shares of the OEM segment over the forecast period.

However, aftermarket segment is expected to witness a CAGR of 8.1% from 2020 to 2027. Majority of startups and SMEs operating in the industry are concentrating more on modifying traditional bikes by integrating two-wheeler hub motor to either wheel to convert it into electric bike. Therefore, adoption of such trends within the business is anticipated to propel the growth of the aftermarket segment over the forecast period.

Power Output Insights

Based on power output, the market has been segmented into Below 1 kW, (1-3) kW, and above 3 kW. The motor with higher power output is preferred wherein the manufacturers want to increase the vehicle speed without affecting the vehicle’s performance. The electric scooters/mopeds, electric motorcycles, and some other models of electric two-wheelers use motors with power output above 1 kW. Hence, the demand high-power e-motorcycles and e-scooters is anticipated to bode well for motors with a power output of (1-3) kW and above 3 kW. Therefore, the (1-3) kW segment is projected to witness the highest CAGR of 10.6% over the forecast period.

Whereas motors with power output below 1 kW are generally preferred for electric bikes, electric skateboards, and electric kick scooters. Moreover, the increasing adoption of electric bicycles across Europe and North America is anticipated to fuel segment growth. For instance, in Germany, sales for electric bikes grew by 37.0 percent in the first half of 2019 to 920,000 electric bikes; which almost equals the entire unit sales in the year 2018. Thus, the segment dominated the market in 2019 and was valued at USD 4.6 billion. Moreover, as of 2019, electric bikes accounted for over 50.0% share of the overall market, which in turn, is anticipated to fuel segment growth over the forecast period.

Regional Insights

In the Asia Pacific, the market was valued at USD 4.5 billion in 2019. The growth of the market in this region is also mainly driven by China, Japan, India, and South Korea. China is the largest market two-wheeler hub motor in the Asia Pacific due to the presence of major two-wheeler hub motor manufacturers namely QS MOTOR, MAC SHANGHAI ELECTRIC MOTOR COMPANY LTD, TDCM, and NTN Corporation.

In North America, the market is anticipated to exhibit the highest CAGR of 11% from 2020 to 2027. This is owing to the rising focus of manufacturers on developing high-performance, cleaner, and faster electric vehicles. In the U.S., the leading OEMs such as LUNA CYCLE, Zero Motorcycles, Harley-Davidson, Xiaomi (United States), and Victory Motorcycles launched electric two-wheelers resulting in an enormous demand for two-wheeler hub motors. Moreover, benefits such as better torque control, powerful acceleration, and improved stability are anticipated to further boost the demand for two-wheeler hub motors.

Key Players

QS MOTOR; MAC SHANGHAI ELECTRIC MOTOR COMPANY LTD; TDCM, NTN Corporation; Heinzmann GmbH and Co. KG.; Robert Bosch GmbH; Schaeffler Technologies AG and Co. KG; Elaphe Propulsion Technologies Ltd.

Market Segmentation

Two Wheeler Hub Motor Vehicle Type Outlook

  • Electric Scooter/Moped
  • Electric Bike
  • Electric Motorcycle
  • Others

Two Wheeler Hub Motor Installation Outlook 

  • Front
  • Rear

Two Wheeler Hub Motor Outlook

  • Geared
  • Gearless

Two Wheeler Hub Motor Sales Channel Outlook 

  • OEM
  • Aftermarket

Two Wheeler Hub Motor Power Output Outlook 

  • Below 1 kW
  • (1-3) kW
  • Above 3 kW

Two Wheeler Hub Motor Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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