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The total worldwide market for two-wheeler hub motors was estimated at US$ 1,337.0 million in 2018 and is expected to grow at CAGR 7.23 percent over the forecast period. (According to a research study recently published by Credence Research".)
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The total worldwide market for two-wheeler hub motors was estimated at US$ 1,337.0 million in 2018 and is expected to grow at CAGR 7.23 percent over the forecast period. (According to a research study recently published by Credence Research".) As the automotive industry is moving rapidly towards electric vehicles, high momentum is expected for electric two-wheelers in the coming years. People are now more inclined to e-bikes because of strict government initiatives and increasing environmental issues. In order to take advantage of higher power, flexibility and better traction control, companies prefer to install hub motors in the rear wheel. Hub motors improve electric vehicle performance and offer various advantages such as easy installation, low cost, relatively high torque and several other compared to mid-drive motors. With ever-increasing e-bike sales in Asia Pacific, the market for electric two-wheelers hub motors is expected to register enormous growth over the coming years. The growth of the two-wheeler hub motors market is heavily governed in recent years by their improved performance. Browse Full Report Originally Published by Credence Research @ https://www.credenceresearch.com/report/two-wheeler-hub-motors-market A key trend in the two-wheeler hub motor market is the shift to high-powered motors. Major manufacturers like Zero Motorcycles Inc., BMW AG and Vectrix offer more than 30 kW of electric motorcycles and have also announced plans to launch even higher-powered motorcycles. Zero Motorcycles announced its plans to launch an electric dual-sport motorcycle, Zero DS ZF7.2 in 2018. The model will be 8.0 percent faster than previously launched models and will have an additional motor power of 35.0 percent. In addition, many conventional gasoline-based motorcycle OEMs have announced their plans in the near future to introduce high-powered electrical models. Harley-Davidson Inc., for example, announced the launch by 2019 of its electric motorcycle, LiveWire, which will be a high-powered motorcycle with a single charge travel range of up to 235 km. The growing demand for higher-powered motors is therefore one of the major market trends. Two types of hub motors are available on the market based on product type, categorized as geared and ungeared. Geared hub motors are working quietly and providing more torque, while non-geared hub motors are less powerful. Geared hub motors offer better speed control and have a lightweight & small size, making it the company's and consumers ' first choice. Based on vehicles, both the categories of e-bikes and e-scooters and motorcycles held a similar share in the two-wheeler hub motor market in 2018 in terms of volume. However, the category of e-scooters and motorcycles is expected to see faster growth over the forecast period at a CAGR of 12.3 percent, boosted by their increasing customer adoption as well as public sharing companies, as such vehicles offer a convenient and cost-effective mode of transport.
About Credence Research (Original Publisher): Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task. Contact Info: Name: Chris Smith Email: Send Email Organization: Credence Research Address: 105 N 1st ST #429, SAN JOSE, CA 95103, United States Phone: 18003618290 Website: https://www.credenceresearch.com
