PUBLISHER: The Business Research Company | PRODUCT CODE: 1657040
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657040
A two-wheeler hub motor is an electric motor affixed to the wheels, converting electrical power into motive force for traction. Its installation contributes to vehicle weight reduction, diminished fuel consumption, prolonged two-wheeler lifespan, and decreased maintenance costs. Primarily employed for rear-wheel drive vehicles, the two-wheeler hub motor offers advantages in terms of efficiency and sustainability.
The principal vehicle types in the two-wheeler hub motor market include electric bikes, electric scooters, and electric motorcycles. Specifically, an electric bike utilizes the two-wheeler hub motor to assist pedaling. In hub motors, the shaft assumes the role of the axle, remaining stationary while the rotor spins, propelling the entire motor to generate torque for rotating either the front or rear wheel. Installation options include front and rear placements, and the motors are available in gearless and geared models. Distribution occurs through various channels, including original equipment manufacturers (OEM) and the aftermarket.
The two wheeler hub motor market research report is one of a series of new reports from The Business Research Company that provides two wheeler hub motor market statistics, including two-wheeler hub motor industry global market size, regional shares, competitors with a two wheeler hub motor market share, detailed two wheeler hub motor market segments, market trends and opportunities, and any further data you may need to thrive in the two-wheeler hub motor industry. This two wheeler hub motor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The two wheeler hub motor market size has grown rapidly in recent years. It will grow from $13.32 billion in 2024 to $14.71 billion in 2025 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to urbanization trends, government incentives, rising fuel prices, environmental awareness.
The two wheeler hub motor market size is expected to see rapid growth in the next few years. It will grow to $24.38 billion in 2029 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to electrification initiatives, cost reduction efforts, charging infrastructure development, urban mobility solutions, consumer awareness and preference. Major trends in the forecast period include battery technology improvements, integrated smart features, lightweight and compact designs, swappable batteries, performance-oriented hub motors, customization options.
The increasing demand for electric vehicles is significantly driving the growth of the two-wheeler hub motor market. Electric vehicles are powered by electricity stored in batteries, and hub motors enhance the drivability and efficiency of electric two-wheelers while improving overall performance. For instance, in April 2023, a report from the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, highlighted the rapid growth of the electric car market, which saw over 10 million sales in 2022. This accounted for 14% of new car sales, an increase from approximately 9% in 2021. Thus, the rising demand for electric vehicles is propelling the growth of the two-wheeler hub motor market.
The expected rise in fuel prices is foreseen to drive the growth of the two-wheeler hub motor market. As fuel prices increase, consumers tend to opt for more fuel-efficient vehicles to save money. This shift in consumer behavior could lead to an increased demand for two-wheelers equipped with hub motor-powered electric vehicles. For instance, data from the Bureau of Transportation Statistics in August 2022 revealed a 49% rise in the price of regular motor gasoline and a slightly higher increase of 55% in the price of diesel fuel from January to June 2022. Consequently, the escalating fuel prices are stimulating demand in the two-wheeler hub motor market.
Product innovation stands out as a prominent trend gaining traction in the two-wheeler hub motor market. Key players in the sector are actively engaged in developing technologically advanced products to maintain their market standing. An example of this is HOP Electric, an India-based electric vehicle and charging battery scooter company, which launched the HOP OXO electric bike in February 2023. The HOP OXO features a BLDC Hub motor, Sinusoidal FOC Vector Control, and various riding modes such as Eco, Power, Sport, and Reverse mode.
Strategic partnership agreements are a key focus for major companies operating in the two-wheeler hub motor market. Such partnerships involve commercial collaborations where companies share resources for mutual benefit. Flash Electronics, an India-based manufacturer of automotive products, for instance, partnered with Slovenia's GEM Motors in February 2023. This collaboration caters to the electric vehicle segments with hub motors ranging from 1 kW to 15 kW, utilizing innovative modular multiphase motor technology.
In November 2022, Hero Electric, an electric vehicle manufacturer based in India, announced a partnership with Nidec Corporation. This collaboration aims to enhance the performance and efficiency of Hero Electric's electric two-wheelers by utilizing Nidec's advanced motor technology. The partnership supports India's expanding electric vehicle market and promotes sustainable transportation solutions. Nidec Corporation, headquartered in Japan, is a manufacturer of electric motors, including hub motors for two-wheelers.
Major companies operating in the two wheeler hub motor market include Robert Bosch GmbH, Electric Bike Ltd., Evans Electric Limited, Gogoa1 Motors Pvt. Ltd., Heinzmann GmbH & Co. KG, Ziehl-Abegg SE, Elaphe Propulsion Technologies Ltd., Siemens AG, Schaeffler Technologies AG & Co. KG, Saietta Europe BV, Hyundai Mobis Co. Ltd., Dana TM4 Inc., Kolektor D. D., Printed Motor Works Limited, Kelly Controls LLc, YASA Limited, TVS Motor Company, Mahindra Electric Mobility Ltd., Bafang Electric (Suzhou) Co. Ltd., Continental AG, Hero Electric Vehicles Private Limited, QS Motor Co. Ltd., Golden Motor Technology Co. Ltd., Regal Raptor Motorcycles, Zhejiang Luyuan Electric Vehicle Co. Ltd., RATO Group Co. Ltd., Suzhou Xiongda Motor Co. Ltd., TDCM Corporation, BionX International Corporation
Asia-Pacific was the largest region in the two wheeler hub motor market in 2024. The regions covered in the two wheeler hub motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the two wheeler hub motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The two wheeler hub motor market consists of sales of geared and direct drive. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Two Wheeler Hub Motor Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on two wheeler hub motor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for two wheeler hub motor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The two wheeler hub motor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.