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Hub Motor Market By Type, Key Players, Revenue, Market Value, Regions and Product Type – Forecast To 2030 By Zaraki Kenpachi - May 21, 2021
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Global Hub Motor Market for Electric Vehicle: Introduction According to the report, the global hub motor market for electric vehicle is projected to reach US$ 27.4 Bn by 2030, expanding at a CAGR of 22.5% during the forecast period. Rise in demand for fuelefficient and lightweight vehicles across the globe, which provide comfort and noiseless driving, is likely to propel the hub motor market for electric vehicle. Increase in vehicle electrification across the globe due to enactment of vehicle emission standards is likely to boost the demand for electric vehicles across the globe. Moreover, rise in technological development, including wireless hub motor, is projected to lead to the development of advanced electric vehicles including those, which receive electricity wirelessly through transmitting coils that are embedded in road surfaces. This is anticipated to augment the hub motor market for electric vehicle across the globe. Get sample copy of at: https://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=38111 Expansion of Hub Motor Market for Electric Vehicle Surge in trade volume, owing to rising bilateral trade among countries is projected to boost the hub motor market for electric vehicle during the forecast period. China witnessed a surge in both general trade volume and proportion, escalating to 15.66 trillion Yuan. China trade volume accounted for 56.4% of total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN. Exports of China to the U.S. further rose by 15.2% yearonyear. Based on vehicle type, the global hub motor market for electric vehicle has been segmented into passenger vehicle and commercial vehicle.