The "Hub Motor Market by Product, Sales Channel, and Position: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to this report the global hub motor market size was valued at $12.25 billion in 2018, and is projected to reach $17.45billion by 2026, registering a CAGR of 4.4% from 2019 to 2026.
In vehicles with in-wheel motor, hub motors are installed close to the drive wheels that rotate the wheels through extremely small drive shaft, which results in a zero-time lag. As the time lag with this system is zero, motor power is transmitted to the wheel instantaneously and offer a very precise control over the wheel. In addition, the left and right wheels are driven by the separated motors due to which the torque for each wheel can be controlled independently.
The market is anticipated to witness a significant growth over the years, owing to enhanced performance of electric vehicle due to hub motor systems.
The global hub motor market is segmented on the basis of product, sales channel, position, and region. Depending on product, the market is divided into Pedelecs, throttle on demand, and scooter or motorcycle. On the basis of sales channel, it is categorized into OEM and aftermarket. By position, it is bifurcated into hub motor and rear hub motor. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
This study presents the analytical depiction of the global hub motormarket along with the current trends and future estimations to depict the imminent investment pockets.
The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the market.
Porter's five forces analysis illustrates the potency of the buyers and suppliers.
On the basis of product, the throttle on demand segmentis anticipated to exhibit a remarkable growth during the forecast period.
On the basis of sales channel, the aftermarket segment is the highest contributing segment in 2018, in terms of revenue.
Region wise, Europe is the fastest growing region, followed by North America, Asia-Pacific, and LAMEA.
Rise in production of vehicles with in-wheel electric motors
Enhanced performance of electric vehicle due to hub motor systems
Less operating speed and complex structure of hub motors
Increase in penetration of electric vehicles
Schaeffler technologies AG & CO. KG
Robert Bosch GmbH
Elaphe Propulsion Technologies Ltd.
MAC Shanghai Electric Motor Company Ltd
For more information about this report visit https://www.researchandmarkets.com/r/jkhdzz
View source version on businesswire.com: https://www.businesswire.com/news/home/20200716005602/en/
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