This report provides exclusive insights into the COVID-19 impact on the Hub Motor Market for EVs. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Hub Motor Market for EVs. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Hub Motor Market for EVs. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on hub
motor market for EVs provides in-depth analysis of segments and sub-segments in
the global as well as a regional hub motor market for EVs. The study also
highlights the impact of drivers, restraints, and macro indicators on the
global and regional hub motor market for EVs over the short term as well as
long term. The report is a comprehensive presentation of trends, forecast and
dollar values of global hub motor market for EVs. According to the report, the
global hub motor market for EVs is projected to grow at a CAGR of 62.3% over
the forecast period of 2019-2025.
Elaphe, a leading automobile component supplier unveiled its
gearless in-wheel motor L1500 at the hybrid vehicle technology expo in
Stuttgart in May 2019. The motor produces 1500 Nm of torque at 110 kW power,
which is equivalent to 147 horsepower. The in-wheel or hub motor is fitted to
the wheel itself rather than the shaft that rotates the wheels of the vehicle.
Hub motors are more efficient than the transmission systems in the vehicles. As
the automobile industry is moving towards electric vehicles development in the
field of motors has increased. In March 2019, Japanese motor supplier Nidec
revealed its fully integrated hub motor system, which is an extension of its
E-Axle product line. The new system is expected to mass-produced in 2023 and
will be integrated with Aion S electric sedan, in the Chinese market.
The rise in air pollution due to increasing emissions has
led the governments to implement strict emission regulations. Due to low
emission standards, the automakers are now focusing on hybrid and electric
vehicles that use less or no fossil fuel. This has majorly contributed to the
growth of the hub motor market for EVs. As the car manufacturers are shifting
their focus from fuel powered vehicles to electric vehicles the advancements in
the field of batteries and motors have increased, which is expected to boost
the hub motor market. Moreover, the advantages of hub motors including low
cost, high performance, and high efficiency are projected to propel the growth
of the market. Furthermore, the integration of hub motors improves the overall
performance of the vehicle and provides better driving and braking for the
drivers. However, along with the advantages the downside of hub motor includes
the unsprung weight it adds to the vehicle. This results in the damage of
motors as they hit the curb, potholes and due to bad weather. Additionally,
growing demand for electric buses and trucks in the emerging economies
including China, India, and Korea is expected to provide opportunities for the
hub motor suppliers in the future.
The hub motor market in Asia-Pacific generates the highest
revenue among the other regions. The Asia-Pacific market holds a large amount
of share of the global hub motor market. The domination of the Asia-Pacific
region in the hub motor market is due to the increasing adoption of EVs and
electric buses. Europe followed the Asia-Pacific region in terms of revenue
generation in the hub motor market for EVs.
The report on the global hub motor market for EVs covers segments
such as cooling type, torque, and vehicle type. On the basis of cooling type,
the sub-markets include water cooled, and air cooled. On the basis of torque,
the sub-markets include less than 700 Nm, and more than 700 Nm. On the basis of
vehicle type, the sub-markets include passenger vehicle, and commercial
The report provides profiles of the companies in the market
such as 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 Other Companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the hub motor
market for EVs. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.