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Global Hub Motor Market for EVs is Expected to Grow Revenue up to USD 317.8 Billion By 2030 with a Growing CAGR of 71.17% | Infinium Global Research
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Revolutionary Innovations in EV Technology
In the realm of Electric Vehicle technology, Elaphe, a prominent automotive component supplier, introduced its groundbreaking gearless in-wheel motor, the L1500, at the hybrid vehicle technology expo in Stuttgart in May 2019. This cutting-edge motor delivers an astonishing 1500 Nm of torque with 110 kW power, equivalent to 147 horsepower. Unlike traditional propulsion systems, in-wheel or hub motors are directly fitted to the wheels, ensuring greater efficiency. As the automobile industry pivots towards electric vehicles, innovation in the field of motors has surged. In March 2019, the renowned Japanese motor supplier, Nidec, unveiled its fully integrated hub motor system, an extension of its E-Axle product line. This revolutionary system is set to be mass-produced by 2023 and will be integrated into the Aion S electric sedan in the Chinese market.
Environmental Concerns Driving EV Adoption
The rise in air pollution, exacerbated by increasing emissions from conventional vehicles, has compelled governments worldwide to implement stringent emission regulations. To comply with these low emission standards, automakers are making a significant shift towards hybrid and electric vehicles, which consume little to no fossil fuels. This transition has played a pivotal role in driving the growth of the hub motor market for EVs. The ongoing shift from conventional fuel-powered vehicles to electric vehicles has spurred advancements in battery and motor technologies, contributing to the burgeoning hub motor market.
Additionally, hub motors offer numerous advantages, including cost-effectiveness, high performance, and exceptional efficiency. The integration of hub motors improves overall vehicle performance, providing drivers with enhanced driving and braking capabilities. However, it's worth noting that these advantages come with a trade-off in the form of added unsprung weight, which can lead to motor damage when vehicles encounter curbs, potholes, or adverse weather conditions. Furthermore, the escalating demand for electric buses and trucks in emerging economies such as China, India, and Korea presents significant opportunities for hub motor suppliers in the future.
Asia-Pacific Dominates the Global Hub Motor Market
The hub motor market in the Asia-Pacific region has emerged as a frontrunner, generating the highest revenue when compared to other regions. The dominance of Asia-Pacific in the hub motor market can be attributed to the widespread adoption of Electric Vehicles (EVs) and electric buses in the region. Europe closely follows the Asia-Pacific region in terms of revenue generation in the hub motor market for EVs.
In-Depth Market Segmentation
The comprehensive report on the global hub motor market for EVs covers various segments, including cooling type, torque, and vehicle type. Sub-markets based on cooling type include water-cooled and air-cooled systems. Torque sub-markets encompass motors with less than 700 Nm and those with more than 700 Nm of torque. Vehicle type sub-markets are categorized as passenger vehicles and commercial vehicles.
Key Players Shaping the Market
The report provides valuable insights into key industry players, including Schaeffler Group, Ziehl-Abegg SE, Protean Electric Limited, ZF Friedrichshafen AG, Heinzmann GmbH & Co. KG, Elaphe Ltd, TM4 Inc, Evans Electric Private Ltd, Siemens AG, Printed Motor Works Limited, Hyundai Mobis, and others.
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Table of Content
Chapter 1. Preface
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
Chapter 2. Executive Summary
2.1. Hub Motor Market for EVs Highlights
2.2. Hub Motor Market for EVs Projection
2.3. Hub Motor Market for EVs Regional Highlights
Chapter 3. Global Hub Motor Market for EVs Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Porter's Five Forces Analysis
3.4. IGR-Growth Matrix Analysis
3.4.1. IGR-Growth Matrix Analysis by Cooling Type
3.4.2. IGR-Growth Matrix Analysis by Torque
3.4.3. IGR-Growth Matrix Analysis by Vehicle Type
3.4.4. IGR-Growth Matrix Analysis by Region
3.5. Value Chain Analysis of Hub Motor Market For EVs
Chapter 4. Hub Motor Market for EVs Macro Indicator Analysis
Chapter 5. Global Hub Motor Market for EVs by Cooling Type
5.1. Water Cooled
5.2. Air Cooled
Chapter 6. Global Hub Motor Market for EVs by Torque
6.1. Less than 700 Nm
6.2. More than 700 Nm
Chapter 7. Global Hub Motor Market for EVs by Vehicle Type
7.1. Passenger Vehicle
7.2. Commercial Vehicle
Chapter 8. Global Hub Motor Market for EVs by Region 2023-2030
8.1. North America
8.1.1. North America Hub Motor Market for EVs by Cooling Type
8.1.2. North America Hub Motor Market for EVs by Torque
8.1.3. North America Hub Motor Market for EVs by Vehicle Type
8.1.4. North America Hub Motor Market for EVs by Country
8.2. Europe
8.2.1. Europe Hub Motor Market for EVs by Cooling Type
8.2.2. Europe Hub Motor Market for EVs by Torque
8.2.3. Europe Hub Motor Market for EVs by Vehicle Type
8.2.4. Europe Hub Motor Market for EVs by Country
8.3. Asia-Pacific
8.3.1. Asia-Pacific Hub Motor Market for EVs by Cooling Type
8.3.2. Asia-Pacific Hub Motor Market for EVs by Torque
8.3.3. Asia-Pacific Hub Motor Market for EVs by Vehicle Type
8.3.4. Asia-Pacific Hub Motor Market for EVs by Country
8.4. RoW
8.4.1. RoW Hub Motor Market for EVs by Cooling Type
8.4.2. RoW Hub Motor Market for EVs by Torque
8.4.3. RoW Hub Motor Market for EVs by Vehicle Type
8.4.4. RoW Hub Motor Market for EVs by Sub-region
Chapter 9. Company Profiles and Competitive Landscape
9.1. Competitive Landscape in the Global Hub Motor Market for EVs
9.2. Companies Profiles
9.2.1. Schaeffler Group
9.2.2. Ziehl-Abegg SE
9.2.3. Protean Electric Limited
9.2.4. ZF Friedrichshafen AG
9.2.5. Heinzmann GmbH & Co. KG
9.2.6. Elaphe Ltd
9.2.7. TM4 Inc
9.2.8. Evans Electric Private Ltd
9.2.9. Siemens AG
9.2.10. Printed Motor Works Limited
9.2.11. Hyundai Mobis
9.2.12. Other Companies
Chapter 10. Appendix
10.1.Primary Research Findings and Questionnaire
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of hub motor market for EVs.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
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About Infinium Global Research:
Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling the business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes, and non-profit/non-government organizations to meet their knowledge and information needs.
Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations, and the environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.
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