The upcoming report by Fairfield Market Research, titled “Hub-Motor (In-Wheel) Market – Global Industry Analysis (2019 – 2020) – Growth Trends and Market Forecast (2021–2030)”, investigates the market dynamics of the market such as the rise of electric vehicles (EVs). The demand for hub motors is projected to see an upward trend in the coming five years as sales of EVs will increase by 13-15%. Hub motors are expected to gain momentum as the electrification of automobiles gears up to tackle climate change. Analysts anticipate that introduction and the wider availability of varied electric vehicles in several markets of the world is likely to boost the global market for hub motors (in-wheel).

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Exceptional Qualities of Hub Motors to Improve Sales

The demand for hub motors (in-wheel) has picked up pace in recent years as they enable a single source of power for each wheel, thereby eliminating any differentials for vehicle manoeuvring. This makes the vehicle lightweight, which has been the need of the hour for the automotive industry. A vehicle that weightless is more fuel-efficient, a feature that each automaker is trying to achieve with every product. Hub motors are allowing automakers to design crash-resilient vehicles with correct weight distribution. Furthermore, hub motors (in-wheel) remove stator and rotor contact, which improves the motor life. All of these factors are expected to augment the growth of the global hub motor (in-wheel) market.

Green Initiatives Push for Higher Uptake of Hub Motors

The U.S., the EU, and countries in Asia Pacific are turning to strict sustainability norms to protect the environment from vehicular pollution. For instance, the EPA offers a zero-tailpipe emissions score with additional credits to plug-in EVs as a part of emission regulation. On the other hand, China has given EVs a zero fuel consumption value along with imposing fines on vehicles with lower fuel economy. Such initiatives have stoked the demand for hub motors as it makes a huge leap towards enabling the smoother functioning of EVs.

The demand for hub motors (in-wheel) will be intensely felt across electric bikes as their sales receive momentum. Growing use of electric bikes for personal and commercial purposes is expected to create a direct positive impact on the hub motors (in wheel) market. Furthermore, the use of electric bikes for last-mile delivery solutions amidst the rise of the e-commerce industry is also expected to make a contribution to the market.

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Europe and Asia Pacific Stand Out in Global Hub Motors (in-wheel) Market for Different Reasons

The Europe hub motors (in-wheel) market has been proliferating at a steady pace due to the higher adoption of vehicle electrification in the region. Stringent regulatory frameworks and steady transition towards electric vehicles have contributed to the region’s lead. Commercial vehicles are expected to see higher adoption as the EU promises to cut back on carbon emissions. According to analysts, the growth of EV market in Europe was up 40% despite COVID-19.

On the other hand, Asia Pacific hub motors (in-wheel) market is slated to see a spike as the region remains an integral automotive manufacturing hub. Countries such as Japan, China, and India are expected to give this market an incredible impetus during the forecast period. 

Global Hub Motors (in-wheel) Market: Key Players

Some of the key players studied in the research report about the global hub motor (in wheel) market are IEHL- ABEGG, Protean electric, Schaeffler AG, HEINZMANN GmbH & Co. KG, BonfiglioliRiduttoriS.p.A., ZF Friedrichshafen AG. NSK Limited, Hyundai Mobis Co. Ltd., Evans Electric, TM4 Inc., e-traction B.V., Kolektor, NTN Corporation., Elaphe Ltd., GEM Motors d.o.o, Magnetic Systems Technologies, Siemens AG, YASA Limited, and Printed Motor Works.

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Tags: Hub Motor Market, Hub Motor Market Share, Hub Motor Market Size, Hub Motor Market Trends, Hub Motor Market Research, Fairfield Market Research, Hub-Motor (In-Wheel), Hub-Motor Market Demand, Hub-Motor Market Analysis

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