Hub Motor Market Insights and Analysis

Global Hub Motor Market

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Infinium Global Research, a leading name in market research, has unveiled an extensive report that delves into the dynamic Global Hub Motor Market for Electric Vehicles (EVs). The report provides an in-depth analysis of market segments and sub-segments on both a global and regional scale. It sheds light on the influence of drivers, restraints, and macro indicators, providing a comprehensive view of trends, forecasts, and the financial landscape of the global hub motor market for EVs. The global hub motor market for EVs market was valued at USD 4.65 Billion in 2022 and is expected to reach USD 317.8 Billion by 2030 and grow at a CAGR of 71.17% over the forecast period.

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Revolutionary Innovations in EV Technology In the realm of Electric Vehicle technology, Elaphe, a prominent automotive component supplier, introduced its groundbreaking gearless in-wheel motor, the L1500, at the hybrid vehicle technology expo in Stuttgart in May 2019. This cutting-edge motor delivers an astonishing 1500 Nm of torque with 110 kW power, equivalent to 147 horsepower. Unlike traditional propulsion systems, in-wheel or hub motors are directly fitted to the wheels, ensuring greater efficiency. As the automobile industry pivots towards electric vehicles, innovation in the field of motors has surged. In March 2019, the renowned Japanese motor supplier, Nidec, unveiled its fully integrated hub motor system, an extension of its E-Axle product line. This revolutionary system is set to be mass-produced by 2023 and will be integrated into the Aion S electric sedan in the Chinese market.

Environmental Concerns Driving EV Adoption The rise in air pollution, exacerbated by increasing emissions from conventional vehicles, has compelled governments worldwide to implement stringent emission regulations. To comply with these low emission standards, automakers are making a significant shift towards hybrid and electric vehicles, which consume little to no fossil fuels. This transition has played a pivotal role in driving the growth of the

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hub motor market for EVs. The ongoing shift from conventional fuel-powered vehicles to electric vehicles has spurred advancements in battery and motor technologies, contributing to the burgeoning hub motor market.

Additionally, hub motors offer numerous advantages, including cost-effectiveness, high performance, and exceptional efficiency. The integration of hub motors improves overall vehicle performance, providing drivers with enhanced driving and braking capabilities. However, it's worth noting that these advantages come with a trade-off in the form of added unsprung weight, which can lead to motor damage when vehicles encounter curbs, potholes, or adverse weather conditions.

Furthermore, the escalating demand for electric buses and trucks in emerging economies such as China, India, and Korea presents significant opportunities for hub motor suppliers in the future.

Asia-Pacific Dominates the Global Hub Motor Market The hub motor market in the Asia-Pacific region has emerged as a frontrunner, generating the highest revenue when compared to other regions. The dominance of Asia-Pacific in the hub motor market can be attributed to the widespread adoption of Electric Vehicles (EVs) and electric buses in the region. Europe closely follows the Asia-Pacific region in terms of revenue generation in the hub motor market for EVs. In-Depth Market Segmentation The comprehensive report on the global hub motor market for EVs covers various segments, including cooling type, torque, and vehicle type. Sub-markets based on cooling type include water-cooled and air-cooled systems. Torque sub-markets encompass motors with less than 700 Nm and those with more than 700 Nm of torque. Vehicle type sub-markets are categorized as passenger vehicles and commercial vehicles.

Key Players Shaping the Market The report provides valuable insights into key industry players, including Schaeffler Group, Ziehl-Abegg SE, Protean Electric Limited, ZF Friedrichshafen AG, Heinzmann GmbH & Co. KG, Elaphe Ltd, TM4 Inc, Evans Electric Private Ltd, Siemens AG, Printed Motor Works Limited, Hyundai Mobis, and others.

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Reasons to Buy this Report: => Comprehensive analysis of global as well as regional markets of hub motor market for EVs. => Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030. => Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the 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 on to invest, consolidate, expand, and/or diversify.

Infinium Global Research LLP. info@infiniumglobalresearch.com +91 99239 50043