Hub-Motor (In-Wheel) Market Analysis: Driving Growth, Trends, and Forecasts in the EV Era
Fairfield Market Research, a leading market research firm, predicts a significant expansion in the global hub motor (in-wheel) market, driven by the rapid growth of the electric vehicle (EV) market, which is expected to see a sales increase of 13%-15% in the coming years. The increasing pace of vehicle electrification and the adoption of alternative powertrains are creating a fertile ground for hub motor technology to thrive.
Hub Motors Revolutionize Vehicle Design and Sustainability
Hub motors, also known as in-wheel motors, electric hubs, wheel hub drives, and wheel hub motors, eliminate the need for traditional differentials in vehicle maneuvering. This direct power transmission to each wheel not only enhances maneuverability but also contributes to lightweight vehicle designs. These motors are easy to install and lack gears or transmission, making them highly efficient.
One key driving force behind the rising demand for hub motors is the changing nature of policymaking worldwide, aligning with climate control demands. Governments are incentivizing the adoption of alternative propulsion vehicles, which are less dependent on fossil fuels and produce fewer emissions. For example, the U.S. EPA and NHTSA offer zero-tailpipe emission credits to plug-in EVs, while European regulations set stringent CO2 emissions standards. China has also implemented laws favoring EVs and penalizing low fuel economy vehicles.
Environmental Sustainability Boosts Demand
The growing concern for environmental sustainability and the need to reduce vehicular pollution are leading regulatory bodies to take corrective actions. This includes incentive schemes to promote EV growth and reduce emissions. These efforts are expected to further fuel the global hub motor market.
Hub Motors Drive Innovation
Hub motors have enabled vehicle designers to focus on creating crash-resilient architectures with optimal weight distribution. This, in turn, facilitates the development of lightweight vehicles without compromising acceleration. Hub motors typically utilize brushless DC technology, offering higher efficiency by replacing mechanical components with electronic counterparts and increasing motor life.
Expanding Use in Electric Bikes and Last-Mile Delivery
The demand for hub motors is also surging as electric bikes gain popularity for personal and commercial use, particularly in China. E-commerce companies are actively working to reduce their carbon footprint, driving the adoption of electric vehicles and, subsequently, hub motors.
Challenges and Opportunities Amidst COVID-19
The COVID-19 pandemic disrupted supply chains and increased manufacturing costs, impacting the hub motor market. Reduced labor forces due to social distancing measures added to the challenges. However, the key advantage of minimal maintenance in hub motor integrated electric vehicles has garnered consumer attention towards EVs.
Autonomous Vehicles and Future Growth
Hub motor technology is predicted to play a significant role in autonomous vehicles, offering better control and efficiency compared to internal combustion engine powertrains. Although fewer OEMs have adopted this technology for autonomous vehicles, it holds great potential.
Charging Infrastructure and Price Points
A lack of charging infrastructure in developing economies and high price points are constraints on market growth. Nevertheless, government support, stringent emission regulations, and strategic alliances in EV technology are expected to drive substantial growth in the foreseeable future.
Electrified Public Transit Systems
Hub motors come in various drive types, including all-wheel drive, front-wheel drive, and rear-wheel drive. The front-wheel drive segment, known for its simplicity in installation and minimal maintenance, is expected to lead, especially in autonomous vehicles and city buses.
Global Market Dynamics
Government initiatives and regulatory frameworks in Asian and European countries have led to the proliferation of electric vehicles, both with and without hub motors. Vehicle electrification programs by these governments are expected to increase demand for hub motors in commercial vehicles with electric drive axles.
Collaborations and Mergers Driving Innovation
Key players in the hub motor market, including ZIEHL- ABEGG, HEINZMANN GmbH & Co. KG, Protean Electric, and ZF Friedrichshafen AG, are actively partnering with automakers and engaging in mergers and acquisitions to advance technological expertise. These collaborations are expected to drive positive developments in the market.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/hub-motor-in-wheel-market
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