MarketsandMarkets’ recent report – “Hub Motor Market by Installation, Vehicle, Motor, Sales Channel, Power Output, and Region - Global Forecast to 2025” - the global Hub Motor Market is projected to grow at a CAGR of 5.03% from $7.92 billion in 2018 to reach $11.17 billion by 2025. Growth factors include improved vehicle performance, powerful acceleration, and high torque. A hub motor helps supply torque to its associated tire and generates more power to improve the efficiency of a vehicle.
Notable Points
- Electric Bike Segment: Increased power and better vehicle handling is expected to drive the Hub Motor Market
- Rear Hub Motor: Better traction and high flexibility fuels the Hub Motor Market
- Asia Pacific: China is expected to lead the Asia Pacific market
- Top players in the hub motor market include QS Motor (China), Schaeffler Technologies (Germany), Michelin (France), Jiashan Neopower International Trade (China), and Elaphe (Slovenia)
For further flights of market insights, request a free sample report.
MarketsandMarkets Inc.
Northbrook, IL
888-600-6441