Report Overview:
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.
This report provides a deep insight into the global Hub Motor for Electric Vehicles (EVs) market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porters five forces analysis, value chain analysis, etc.
Market Value:
The Global Hub Motor for Electric Vehicles (EVs) Market Size was estimated at USD 5949.87 million in 2023 and is projected to reach USD 8157.39 million by 2029, exhibiting a CAGR of 5.40% during the forecast period.
CAGR of 5.40%
(2022 – 2029)
By Types:
By Applications:
Passenger Vehicles
Commercial Vehicles
Key players include:
• Protean Electric
• Ziehl-Abegg
• Schaeffler Technologies
• ZF Friedrichshafen
• Elaphe
• Heinzmann GmbH
• TM4
• Evans Electric
• Siemens
• Kolektor
• Printed Motor Works
