Global Hub Motor Market to Grow at 3.98% During 2025-2033, Fostered by Rising Demand for Electric Vehicles

December 09, 2024 | Automotive Industry

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According to the latest report by IMARC Group, titled “Hub Motor Market Report by Installation (Front Hub Motor, Rear Hub Motor), Vehicle Type (E-bikes, Electric Two-wheelers, Passenger Cars, and Others), Motor Type (Geared, Gearless), Power Output (Below 1000 W, 1000–3000 W, Above 3000 W), Sales Channel (OEM, Aftermarket), and Region 2025-2033,” the global hub motor market reached a value of USD 10,173.7 Million in 2024. A hub motor refers to an electric motor integrated into the wheels of a vehicle. It is an independent drive system consisting of a fuel cell, generator, and battery pack. The system converts electric energy into rotatory motion, which minimizes the contact between the stator and rotor. This mechanism facilitates electronic commutation, reduces engine load, and enhances the operational efficiency of the vehicle. In addition, a hub motor offers easy installation, generates more power, requires minimal maintenance, and eliminates the need for gears and transmissions.

Global Hub Motor Market Trends:

One of the key factors driving the hub motor market growth is the widespread product utilization in the manufacturing of and improving the performance of electric vehicles (EVs). Due to the increasing environmental consciousness, there has been a significant rise in the demand for EVs, which, in turn, is inflating the sales of hub motor across the globe. The rising need for efficient and lightweight vehicles is acting as another growth-inducing factor. Additionally, large-scale investments in research and development (R&D) activities to integrate next-generation technologies, such as brushless direct current (BLDC), are fueling the market growth. Continuous product innovations, including the integration of thermal management and enhanced traction control, are some of the other factors creating a positive outlook for the market. Looking forward, IMARC Group expects the market to reach USD 14,720.7 Million by 2033, exhibiting a growth rate (CAGR) of 3.98% during 2025-2033.

Market Summary:

Based on the installation, the market has been bifurcated into front and rear hub motors.
On the basis of the vehicle type, the market has been divided into e-bikes, electric two-wheelers, passenger cars, and others.
Based on the motor type, the market has been segmented into geared and gearless.
On the basis of the power output, the market has been classified into below 1000 W, 1000-3000 W, and above 3000 W.
Based on the sales channel, the market has been bifurcated into original equipment manufacturers (OEM) and aftermarket.
Region-wise, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the industry has also been examined, with some of the key players being Accell Group N.V., Cutler MAC (Shanghai) Brushless Motor Co. Ltd, Elaphe Propulsion Technologies Ltd., Heinzmann GmbH & Co. KG, Leaf Motor, NTN Corporation, QS Motor, Schaeffler technologies AG & CO. KG, Tajima Motor Corporation and TDCM.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Million USD
Segment Coverage	Installation, Vehicle Type, Motor Type, Power Output, Sales Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Accell Group N.V., Cutler MAC (Shanghai) Brushless Motor Co. Ltd, Elaphe Propulsion Technologies Ltd., Heinzmann GmbH & Co. KG, Leaf Motor, NTN Corporation, QS Motor, Schaeffler technologies AG & CO. KG, Tajima Motor Corporation and TDCM
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Hub Motor Market to Grow at 3.98% During 2025-2033, Fostered by Rising Demand for Electric Vehicles

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