09 April 2021
The new report the Two-Wheeler Hub Motor Market Report to 2031: Forecasts by Installation (Front Hub Motor and Rear Hub Motor), Motor (Geared and Gearless), Power Output (Below 1 kW, (1-3) kW, and Above 3 kW), Vehicle Type (Electric Scooter/Moped, Electric Bike, Electric Motorcycle, and Others), by Region, Country and Profiles of Leading Companies indicates that the Global Two Wheeler Hub Motor Market will see $ XX bn in spending in 2020.
The lead analyst of the report said: "The two wheeler hub motor market is about to enter a period of phenomenal growth and innovation. The next ten years will see the upsurge demand of the two wheeler hub motor."
The hub motor is an electric motor integrated into the vehicle's wheel hub assembly. Governments from various regions are introducing initiatives to control the growth of pollution. Developed and developing countries' governments are estimated to implement objectives, regulations, and favorable policies for electric vehicle deployment and its demand. Thus, these policies and regulations signify OEMs and other industry stakeholders to increase the adoption of electric vehicles further vigorously.
Considering the current market trend, many automotive OEMs have already announced their strategic plans to introduce new high-powered electric two-wheelers during the coming years. For instance, in 2019, US-based Harley Davidson revealed e-motorcycle LiveWire and made its availability at authorized stores and dealerships in the US, Canada, and the European countries. Correspondingly, in October 2019, Okinawa Autotech Pvt. Ltd publicized the launch event of a premium electric motorcycle by 2020, a direct competitor to Revolt RV400 in India. This product development and launching of advanced two-wheelers are expected to drive the demand and sales of two wheeler hub motor across the globe. Moreover, the intense market competition is expected to boost the demand for two-wheelers and related components such as two wheeler hub motor and others are expected to increase the demand for high-powered two-wheeler hub motors over the forecast period.
In the COVID-19 pandemic, the two wheeler hub motor majorly witnessed the sales downfall as the global manufacturing industry is totally shut down, and the production of automobiles such as two wheeler has been stopped to follow lockdown and social distancing guidelines in the domestic market. The lowered demand and sales of two wheeler have highly affected the manufacturing and demand for hub motors for two wheelers in the global market.
The XX page report contains 121 tables and 264 graphs that add visual analysis to explain developing trends within the two wheeler hub motor market. The report provides $ XX bn forecasts during the forecast period 2021-2031 for the two wheeler hub motor submarkets, namely by installation, i.e., front hub motor and rear hub motor.
The XX page report offers market forecasts and analysis for 24 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies' chapter covering more than 15 companies leading the field in the two wheeler hub motor.
The global two wheeler hub motor market 2021-2031 report will be of value to anyone who wants to understand better the two wheeler hub motor market and its various segments. It will be useful for businesses who wish to comprehend the part of the market better they are already involved in, or those wishing to enter or expand into a different regional or technical aspect of the two wheeler hub motor industry.
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