The latest report on Hub Motor Market by Infinium Global Research gives complete coverage of the Hub Motor Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Hub Motor such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Rise in Air Pollution Due to Increasing Emissions has Led the Governments to Implement Strict Emission Regulations
Elaphe, a leading automobile component supplier unveiled its gearless in-wheel motor L1500 at the hybrid vehicle technology expo in Stuttgart in May 2019. The motor produces 1500 Nm of torque at 110 kW power, which is equivalent to 147 horsepower. The in-wheel or hub motor is fitted to the wheel itself rather than the shaft that rotates the wheels of the vehicle. Hub motors are more efficient than the transmission systems in the vehicles.
As the automobile industry is moving towards electric vehicles development in the field of motors has increased. In March 2019, Japanese motor supplier Nidec revealed its fully integrated hub motor system, which is an extension of its E-Axle product line. The new system is expected to mass-produced in 2023 and will be integrated with Aion S electric sedan, in the Chinese market.
The rise in air pollution due to increasing emissions has led the governments to implement strict emission regulations. Due to low emission standards, the automakers are now focusing on hybrid and electric vehicles that use less or no fossil fuel. This has majorly contributed to the growth of the hub motor market for EVs.
As the car manufacturers are shifting their focus from fuel powered vehicles to electric vehicles the advancements in the field of batteries and motors have increased, which is expected to boost the hub motor market. Moreover, the advantages of hub motors including low cost, high performance, and high efficiency are projected to propel the growth of the market. Furthermore, the integration of hub motors improves the overall performance of the vehicle and provides better driving and braking for the drivers.
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Opportunities for the Hub Motor Suppliers in the Future
However, along with the advantages the downside of hub motor includes the unsprung weight it adds to the vehicle. This results in the damage of motors as they hit the curb, potholes and due to bad weather. Additionally, growing demand for electric buses and trucks in the emerging economies including China, India, and Korea is expected to provide opportunities for the hub motor suppliers in the future.
The hub motor market in Asia-Pacific generates the highest revenue among the other regions. The Asia-Pacific market holds a large amount of share of the global hub motor market. The domination of the Asia-Pacific region in the hub motor market is due to the increasing adoption of EVs and electric buses. Europe followed the Asia-Pacific region in terms of revenue generation in the hub motor market for EVs.
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- Comprehensive analysis of global as well as regional markets of the Hub Motor .
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.