Dublin, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The "Automotive Hub Motors Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The report offers strategic insights into the global automotive hub motors market along with the market size and estimates for the duration 2020 to 2030. The said research study covers an in-depth analysis of market segments based on motor type, application, and cross-sectional study across different geographies and sub-geographical regions.
The most prominent factor driving the market growth is the consistently rising penetration of electric bicycles as well as vehicles across different countries including China, Germany, Japan, Belgium, Norway, France, the U.K., and the Netherlands. The penetration of electric vehicles is witnessing strong growth, especially in Europe. Subsequently, the demand for hub motors would continue expanding over the forecast period.
Another prominent factor fueling the market growth is the superior advantages of automotive hub motors over conventional drives. Several hub motor manufacturers are putting in efforts to develop viable hub motor designs that can cater to a wide range of vehicles. In the near future, many major automotive manufacturers have expressed their desire to venture into the electric vehicle segments considering its huge potential. Thus, the automotive hub motor market can capitalize on this growth of electric vehicles. Nevertheless, major concerns for the automotive hub motors market is the strict necessity of electric supply onboard the vehicle. Similarly, unsprung weight is another major concern affecting the design of vehicles equipped with hub motors.
In order to help strategic decision-makers, the report also includes competitive profiling of the leading automotive hub motor vendors, their business strategy analysis, market positioning, and key developments. Some of the major players profiled in the report are Heinzmann GmbH & Co. KG, Protean Electric Ltd., Elaphe Ltd., Taizhou Quanshun Motor Co., Ltd, Mitsubishi Motors, Schaeffler Technologies AG & Co. KG, TDCM Corporation Ltd., Michelin Group, Magnetic Systems Technology Ltd., SIM-Drive Corporation, GO SwissDrive AG, QS Motor Co., Ltd. and several others. Apart from the company profiles, the report includes a section covering the competitive landscape wherein the market positioning of the companies has been discussed. The section also provides a view of key business strategies adopted by the leading market players. Other in-depth analysis provided in the report includes:
In 2021, the overall automotive hub motors market worldwide is led by the two-wheelers segment. The segment contributes to more than 40% of the global market revenue, in 2020. Electric bicycles, scooters, and bikes have witnessed fairly high penetration across different countries worldwide. Countries such as China, Japan, South Korea, Germany, the Netherlands, and few others have strong penetration of electric two-wheelers. With the continually rising adoption of electric two-wheelers from countries such as the U.S., India, and other European countries, the segment would continue experiencing strong growth over the forecast period.
The electric cars segment is yet to pick up due to relatively less commercialization of these vehicles. Although there are several production electric cars currently available, electric cars are yet to become popular, as compared to the two-wheelers segment. With the consistently growing efforts towards the betterment of electric car design and affordability, the segment is set to witness high growth in the following years. This would generate a high demand for related components such as a hub motor. Subsequently, electric cars would register the highest growth during the forecast period.
The global automotive hub motors market is led by the Asia Pacific region. In 2020, the region contributes to more than 40% of the overall market revenue generated worldwide. The automotive hub motors market here is primarily governed by countries such as China, Japan, and some of the Southeast Asia countries. These countries have strong penetration of electric two-wheelers, making them the most prominent markets for the related components. In addition, China is one of the largest producers of electric two-wheelers and related components. This makes the country one of the largest markets for hub motors.
Direct Drive (Gearless) Hub Motor
Geared Hub Motor
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Automotive Hub Motors market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Automotive Hub Motors market?
Which is the largest regional market for Automotive Hub Motors market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Automotive Hub Motors market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Hub Motors market worldwide?
Key Topics Covered:
2. Executive Summary
3. Automotive Hub Motors Market: Competitive Analysis
4. Automotive Hub Motors Market: Macro Analysis & Market Dynamics
5. Automotive Hub Motors Market: By Type, 2020-2030, USD (Million)
6. Automotive Hub Motors Market: By Application, 2020-2030, USD (Million)
7. North America Automotive Hub Motors Market, 2020-2030, USD (Million)
8. UK and European Union Automotive Hub Motors Market, 2020-2030, USD (Million)
9. Asia Pacific Automotive Hub Motors Market, 2020-2030, USD (Million)
10. Latin America Automotive Hub Motors Market, 2020-2030, USD (Million)
11. Middle East and Africa Automotive Hub Motors Market, 2020-2030, USD (Million)
12. Company Profile
Heinzmann GmbH & Co. KG
Protean Electric Ltd.
Taizhou Quanshun Motor Co.
Schaeffler Technologies AG & Co. KG
TDCM Corporation Ltd.
Magnetic Systems Technology Ltd.
GO SwissDrive AG
QS Motor Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/1tcqdj
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