Hub Motor Market - Snapshot
Hub motor for electric vehicle, also referred to as in-wheel hub motor, or electric hub, or wheel hub motor, is an electrical motor attached to the wheels of an automobile, designed typically to drive the wheel directly with higher efficiency. Hub motor for electric vehicles (EVs), which are integrated with wheel bearing and hub is a low-cost solution that offers flexibility, as it can power both rear and front-wheel drive vehicles, as well as all-wheel-drive versions. The hub motor for EVs delivers maximum torque at low rpm, letting the vehicle start. This makes the hub motor ideal for an electric vehicle, as it requires maximum torque at startup.
Mostly electric cars are always driven by transmission system and motor; however, currently, for EVs, hub motor is gaining popularity, as it is enhances the driving experience by delivering more power. Since is power transmitted directly from the motor to the wheel of the vehicle, it also reduces the distance of transmission, thereby boosting the motor efficiency. This is projected to augment the hub motor market for EVs during the forecast period. Furthermore, hub motor for EVs enables independent driving and braking, enhances vehicle performance, and improves durability, function, reliability, and efficiency of the electric vehicle. This is likely to propel the hub motor market for EVs during the forecast period. However, increasing government regulation and policies regarding transportation exhaust, which accounts for a prominent share of global emission, can be curtail through electric vehicles, especially public transportation in urban areas. This is projected to boost the adoption of hub motor, since electric buses are generally equipped with hub motor.
Despite numerous advantages of hub motor, the established transmission system market for passenger electric cars and light commercial vehicles poses a major challenge to the adoption of hub motor for EVs. Moreover, hub motor adds weight to the wheel of the vehicle, which results in unsprung mass, thereby making the vehicle ride handling complex and vehicle ride bumpier.
Based on vehicle type, the hub motor for EVs market has been classified into passenger vehicle and commercial vehicle. Among vehicle type, the commercial vehicle segment leads the hub motor market for EVs. This is due to its higher adoption in electric buses, which utilize hub motor for power transmission directly to the wheels of these vehicles.
In terms of electric vehicle type, the battery electric vehicle (BEV) segment dominates the hub motor for EVs. Rising pollution and surge in awareness about curbing emission are major factors boosting the adoption of hub motors in BEVs. Rise in adoption of BEVs for buses in Asia Pacific and Europe is a major factor fueling the hub motor market for EVs during the forecast period.
Among drive type, the front drive segment accounts for a major share of the market. This is due to higher rate of adoption of passenger cars with front wheel drive. In front drive type, the hub motor is integrated on the front wheel and delivers power directly to the front wheel. However, rise in number of all-wheel drive vehicles is likely to cause the all-wheel drive segment to hold a major share of the market during the forecast period.
In terms of cooling type, the water cooled segment holds a prominent share of the hub motor market for EVs. Water cooled system provides continuous ventilation to the system, as water/liquid flows through the tubes or passages that are provided on the hub motor system. It also includes all liquid cooled system, which helps lower the temperature of the hub motor.
Based on torque, the more than 700 N-m segment is projected to expand at a considerably high CAGR. This expansion is primarily attributed to the rise in demand for SUVs and crossovers due to the increasing demand for driving comfort, which in turn is likely to drive the more than 700 N-m segment between 2018 and 2026.
The regenerative braking segment holds a major share of the hub motor market for EVs. This is due to the ability of regenerative brake to recover waste energy and put it to work again. The system captures and converts this energy into electricity. The segment is projected to remain prominent during the forecast period.
The OEM segment dominates the hub motor market for EVs. This is due to the hub motor being in the development phase. Furthermore, higher lifespan of the hub motor is projected to propel the OEM segment of the market during the forecast period. Moreover, significant expansion of the automotive industry and rising export of EVs from the China, and Japan are projected to drive the hub motor market for EVs in the Asia Pacific region.
In terms of region, the hub motor for EVs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for a prominent share of the global hub motor market for EVs. Surge in adoption of electric buses in Asia Pacific is a major factor boosting the hub motor market for EVs in the region.
Several prominent players operate in global hub motor market for EVs. These include Protean Electric, ZIEHL- ABEGG, Schaeffler Technologies AG & Co. KG, Bonfiglioli Riduttori S.p.A., ZF Friedrichshafen AG, Elaphe Ltd., HEINZMANN GmbH & Co. KG, TM4, Evans Electric, Siemens AG, Kolektor, Printed Motor Works, NSK Ltd., NTN Corporation, GEM motors d.o.o., Magnetic Systems Technology, e-Traction B.V., Hyundai Mobis, and YASA Limited.
Hub Motor Market - Overview
This report analyzes and forecasts the market for hub motors for EVs at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (units) from 2018 to 2026. The study includes drivers and restraints of the global hub motor market for EVs. It also covers the impact of these drivers and restraints on the demand for hub motors for EVs during the forecast period. The report also highlights opportunities in the hub motor market for EVs at the global and regional level.
The report comprises a detailed price trend analysis, government regulatory scenarios, value chain analysis, which provides a comprehensive view of the global hub motor market for EVs. The Porter’s Five Forces model for the hub motor market for EVs has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global hub motor market for EVs by segmenting it in terms of cooling type, torque, drive type, brake type, electric vehicle type, vehicle type, sales channel, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for hub motors for EVs in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual application segments in all the regions.
The study includes company profiles of major players operating in the global hub motor market for EVs. Key players in the hub motor market for EVs include Protean Electric, ZIEHL- ABEGG, Schaeffler Technologies AG & Co. KG, Bonfiglioli Riduttori S.p.A., ZF Friedrichshafen AG, Elaphe Ltd., HEINZMANN GmbH & Co. KG, TM4, Evans Electric, Siemens AG, Kolektor, Printed Motor Works, NSK Ltd., NTN Corporation, GEM motors d.o.o., Magnetic Systems Technology, e-Traction B.V., Hyundai Mobis, and YASA Limited. Market players have been profiled in terms of attributes such as competitive landscape, manufacturing footprint, company overview, financial overview, business strategies, and recent developments. The market for hub motors for EVs is primarily driven by rising demand for eco-friendly vehicles.
The report provides the estimated market size of hub motors for EVs for 2017 and forecast for the next nine years. The global market size of hub motors for EVs has been provided in terms of revenue and volume. Market numbers have been estimated based on key cooling type, torque, drive type, brake type, electric vehicle type, vehicle type, sales channel, and regional segments of hub motor market for EVs. Market size and forecast for each major type and vehicle have been provided in terms of global and regional/country markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, revenue share for particular business segment, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, AVERE, ACEA, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organization International des Constructeurs d'Automobile (OICA), Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The global hub motor market for EVs has been segmented into:
- Global Hub Motor Market for EVs, by Cooling Type
- Water Cooled
- Air Cooled
- Global Hub Motor Market for EVs, by Torque
- Less than 700 Nm
- More than 700 Nm
- Global Hub Motor Market for EVs, by Braking Type
- Regenerative Braking
- Conventional Braking
- Global Hub Motor Market for EVs, by Drive Type
- Front Drive
- Rear Drive
- All Drive
- Global Hub Motor Market for EVs, by Electric Vehicle Type
- BEV (Battery Vehicle Vehicle)
- PHEV (Plug in Hybrid Vehicle)
- HEV (Hybrid Electric Vehicle)
- Global Hub Motor Market for EVs, by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Global Hub Motor Market for EVs, by Sales Channel
Global Hub Motor Market for EVs, by Region
The market has been broadly segmented based on region into:
- North America
- U. S.
- Latin America
- Rest of Latin America
- U. K.
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa