PUBLISHER: The Business Research Company | PRODUCT CODE: 1704556
PUBLISHER: The Business Research Company | PRODUCT CODE: 1704556
A hub motor is an integrated electric propulsion system located within a vehicle's wheel hub, enabling direct drive without the need for a traditional transmission system. These motors are employed in electric vehicles to enhance propulsion efficiency and simplify drivetrain configurations.
The main types of hub motors in the market include geared hub motors and gearless hub motors, each tailored to different performance and efficiency requirements in electric vehicles. They are categorized by power output levels, below 1000 W, 1000-3000 W, and above 3000 W, catering to diverse application needs. Vehicle types utilizing hub motors encompass electric bikes (E-bikes), electric motorcycles (E-motorcycles), electric scooters (E-scooters), electric passenger vehicles, electric utility vehicles, electric heavy-duty vehicles, and others. These segments are distributed through sales channels including original equipment manufacturers (OEMs) and the aftermarket.
The hub motor market research report is one of a series of new reports from The Business Research Company that provides hub motor market statistics, including hub motor industry global market size, regional shares, competitors with a hub motor market share, detailed hub motor market segments, market trends and opportunities, and any further data you may need to thrive in the hub motor industry. This 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 hub motor market size has grown strongly in recent years. It will grow from $13.34 billion in 2024 to $14.16 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to rising demand for electric vehicles, government subsidies and incentives, environmental awareness, increasing urbanization, and consumer preference for eco-friendly transportation.
The hub motor market size is expected to see strong growth in the next few years. It will grow to $17.74 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to the adoption of smart transportation solutions, regulatory support for electric vehicles, the development of fast-charging infrastructure, an increasing focus on sustainable mobility, and a rise in disposable incomes. Major trends in the forecast period include a shift towards shared mobility, the development of compact electric vehicles, enhancements in energy efficiency, customization and personalization options, and the convergence of mobility and digital technologies.
The hub motor market is poised for growth driven by the increasing demand for electric vehicles (EVs). Electric vehicles utilize rechargeable batteries instead of internal combustion engines, supported by technological advancements, government incentives, environmental awareness, and advancements in battery technology. Hub motors play a crucial role in the adoption of electric vehicles by enabling efficient integration of electric propulsion systems, enhancing performance and range, and reducing space and weight requirements. For example, the International Energy Agency reported a global registration of nearly 14 million new electric cars in 2023, bringing the total number of EVs on the roads to 40 million. This growth reflects a 35% year-on-year increase, with electric cars accounting for approximately 18% of all vehicles sold in 2023, up from 14% in 2022. This surge in electric vehicle demand is driving growth in the hub motor market.
Leading companies in the hub motor market are innovating with products such as electric bicycle (e-bike) hub motor systems, which enhance performance across various terrains with efficiency and advanced features. E-bike hub motor systems integrate propulsion units within the bicycle hub, providing electric assistance to pedal-powered bicycles. For instance, in June 2024, MAHLE SmartBike Systems launched the MAHLE X30 drive system, featuring a powerful 45 Nm torque hub motor weighing only 1.9 kg. This system offers up to 190 km of range on a single charge, enhanced efficiency, and seamless integration with MAHLE's digital ecosystem and adaptive AI-driven assistance. These features make it a competitive choice for e-bike manufacturers seeking high-performance, customizable solutions in the hub motor market.
In April 2022, Midea Group Co., Ltd., a China-based manufacturer of small electrical appliances, acquired Wuhan TTium Motor Technology Co., Ltd. for an undisclosed amount. This acquisition is intended to position Midea within the green two-wheel vehicle market and expand its product range. By leveraging TTium's expertise in motor technology, Midea aims to strengthen its standing in the global e-mobility sector. Wuhan TTium Motor Technology Co., Ltd. is a China-based manufacturing company specializing in hub motors.
Major companies operating in the hub motor market are Robert Bosch GmbH, Siemens AG, Schaeffler AG, NSK Ltd., NTN Corporation, Accell Group, ZIEHL-ABEGG, Kolektor, Elaphe Propulsion Technologies Ltd., Heinzmann GmbH & Co. KG, TDCM, Evans Electric, Leaf Motor, Printed Motor Works, QS MOTOR LTD, Tajima Motor Corporation, Auto Forest, Boom Motors, VR ENGINEERS, CHANGZHOU MXUS IMP& EXP CO. LTD, Leaf Bike
Asia-Pacific was the largest region in the hub motor market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hub motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hub motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hub motor market consists of sales of electric skateboards, electric wheelchairs, electric unicycles, electric rollerblades, and electric kick scooters. 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.
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 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 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 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.