Fri, 28 Feb 2020

Automotive Hub Motor Market is forecast to reach $13.8 billion by 2025 growing at a CAGR of 7.2% during 2020-2025. Increased demand for electric vehicles, stringent government rules for reducing fossil fuel vehicles are expected to accelerate the hub motor market during forecast period. For instance, countries like India and China planning to ban fossil fuel vehicles by 2030 and hence the demand for electric vehicles are likely to be more in these countries by 2030. Similarly, the Environmental Protection Agency of United states in 2019 are planning to implement new environmental and emission rules, which will likely to create new opportunity for electric vehicles in this country there by creating demand for hub motor market.

Key Takeaways

• Asia-Pacific dominates the Hub Motor market owing to increasing demand from applications such as automotive.

• The growing popularity for Vehicle Performance and enhanced driving experience is likely to aid in the market growth of Hub Motor.

• Implementation of stringent government regulations related to vehicular emissions will increase the market demand for Hub Motor market in the near future.

• Hub motor market report forecasts that adding hub motor can vastly increase the unsprung weight and hurt the performance, will create hurdles for this market.

By Installation type- Segment Analysis

Rear Hub Motor segment dominated the hub Motor market share in 2018. Most of the electric two wheeler manufacturers prefer to deploy hub motors in the rear wheel to take advantage of the traction control.Apart from that, rear hub motor provides high power handling, powerful acceleration, and high flexibility. Hence, these motors are now widely used in modern electric and hybrid vehicle.

By Motor type- Segment Analysis

The geared hub motor is the largest and the fastest growing segment with a CAGR of 5.30% as it provides the flexibility in controlling the speed of the vehicle. Geared hub motors provide high torque which helps in driving the vehicle easily. Geared hub motors are lighter in weight and smaller in size and hence is suitable for e-bike application.

China is the largest market for Hub Motor in Asia Pacific because it is promoting the use of electric two wheelers to lower the rising pollution and vehicle emissions in the country. It is the world's largest producer of e-bikes, electric bike kit. According to China Automotive association around 15.05 million e-bikes were sold in China in 2018. Increase in sales of electric two wheelers will lead to the increase in sales of geared hub motors.

Geography- Segment Analysis

In 2018, APAC dominated the Hub Motor market size with a share of more than 62.5%. The economy of APAC is majorly influenced by the countries such as China and India. In these countries, the government are aggressively implementing regulatory framework to reduce the environmental footprint and fuel consumption in automobiles. According to new regulation in China, the government is planning to ban the production and sales of fossil fuel vehicles. Similarly, China is creating opportunity for Hub Motor industry with the increased sales of electric bikes and electric scooters. For instance, according to China Bicycle Association (CBA), China is the world's largest manufacturer of bicycles and electric vehicles, with sales of up to 80,000,000 units, accounting for 80% of global turnover. Similarly, China has sold 15.05 million unit electric bikes in 2018 and anticipated to grow up to 15.85 million unit in 2020. The Increased demand for electric bikes will create an opportunity for hub motors. India also has excellent potential for Electric vehicles growth in the forecast period 2020 to 2025.EV sales in India crossed the 7, 50,000-units mark and reached a total of 7, 59,600 units in 2019. Increasing government incentive schemes, growing distributor & dealership network, rising online sales, and increasing affordability of electric two wheelers being provided by leading automobile manufacturers are some of the other key factors that would boost demand for electric two wheelers in APAC region, thereby creating opportunity for hub motors.

Drivers –Hub Motor Market

• Growing demand for Vehicle Performance and EnhancedDriving Experience

Currently, for electric vehicles, the hub motor is gaining popularity, as it improves the driving experience by providing more power. Since power is transmitted directly from the engine to the wheel of the vehicle, it also reduces the transmission distance, which increases engine efficiency. This is expected to increase the market of hub motors during the forecast period. In addition, the hub motor which is basically a brushless dc motor allows independent driving and braking. On the other hand it improves performance and durability, function, reliability, and efficiency of the electric vehicle. This is likely to boost the market for hub motors for electric vehicles during the forecast period.

• Implementation of Stringent government Regulations

Many countries like India and China are taking measures to reduce environmental pollution. Hence, the demand for electric vehicles are continuously increasing in these countries. India is aiming to completely phase out petrol and diesel vehicles by 2030. Similarly, China began planning a ban on the sale and production of fossil fuel vehicles. The other countries such as United States, Germany, France, and UK are also taking adequate initiative to promote electric vehicle in the region. So rise in the sales of electric vehicles is likely to bring new opportunity for hub motor market.

Challenges – Hub Motor Market

• Issue of Unsprung Weight

The major challenge facing hub motors is the issue of unsprung weight. Unsprung weight is the mass of all components not supported by a car's suspension. So adding hub motors could vastly increase the unsprung weight and hurt performance. High Competition from mid drive motors is also a challenging factor for hub dive motor.Mid-drive motors can leverage the lower gears of the bike and keep their RPMs in an efficient range without getting bogged down like a hub motor.

• MarketLandscape

Product Launch and R&D activities are key strategies adopted by players in the Hub motor market. In 2018, the market of Hub Motor industry outlook has been consolidated by the top five players accounting for 55.47% of the share. Hub Motor top 10 companies include Accell Group, Elaphe Ltd, Enertrac Corporation, Fuji-Ta, Jiashan Neo power International Trade Schaeffler Technologies and QS Motor among others.

Acquisitions/Technology Launches

  • In July 2018, QS motor launched a cool liquid assembly designed for 14 kW hub motor with the heat sink, which avoids efficiency hampering issues such as overheating of motor at high load.
  • In May 2018, Elaphe launched the second generation Elaphe L1500 in-wheel motor at the Electric and Hybrid Vehicle Technology Expo 2018 in Germany.
  • In October 2017, NTN developed the industry's first "eHUB," which combines a motor generator with a hub bearing used to support wheel rotation.

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