Global Two Wheeler Hub Motor Market Size To Exceed USD 38.34 Billion By 2033: Forecast Analysis Report

Global Two-Wheeler Hub Motor Market Size To Exceed USD 38.34 Billion By 2033 

According to a research report published by Spherical Insights & Consulting, The Global Two-Wheeler Hub Motor Market Size is Expected to Grow from USD 11.64 Billion in 2023 to USD 38.34 Billion by 2033, at a CAGR of 12.66% during the forecast period 2023-2033.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on The Global Two-Wheeler Hub Motor Market Size, Share, and COVID-19 Impact Analysis, By Motor Type (Brushed DC Hub Motors and Brushless DC & Hub Motors), By Power Rating (500W, 500-1000W, 1000-2000W, and >2000W), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

A two-wheeler hub motor is an electric motor integrated directly into the wheel hub of a two-wheeled vehicle, such as an electric bicycle, scooter, or motorcycle. This design allows the motor to convert electrical energy from the battery into rotational motion, propelling the vehicle without the need for traditional transmission systems. By eliminating components like chains or belts, hub motors contribute to a reduction in overall vehicle weight and mechanical complexity, leading to enhanced efficiency and reduced maintenance costs. Moreover, the two-wheeler hub motor market is driven by rising demand for electric scooters and bikes, growing environmental concerns, and government incentives promoting e-mobility. Advantages like compact design, low maintenance, and improved efficiency further boost adoption. Technological advancements and expanding charging infrastructure also support the market’s growth across urban and semi-urban areas. However, the market faces restraints such as high initial costs, limited power output for high-speed applications, and performance issues on rough terrain. Battery limitations and lack of awareness also hinder growth.

The brushless DC hub motors segment accounted for the largest share of the global two-wheeler hub motor market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on motor type, the global two-wheeler hub motor market is divided into brushed DC hub motors and brushless DC & hub motors. Among these, the brushless DC hub motors segment accounted for the largest share of the global two-wheeler hub motor market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Their higher efficiency, lower maintenance, better performance, and longer lifespan compared to brushed motors make them the preferred choice for modern electric scooters and bikes, driving their widespread adoption.

The 500-1000W segment accounted for a substantial share of the global two-wheeler hub motor market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the power rating, the global two-wheeler hub motor market is divided into 500W, 500-1000W, 1000-2000W, and >2000W. Among these, the 500-1000W segment accounted for a substantial share of the global two-wheeler hub motor market in 2023 and is anticipated to grow rapidly during the projected period. This range offers an ideal balance of power, efficiency, and affordability, making it suitable for urban electric scooters and bikes commonly used for daily commuting and short to mid-range travel.

Asia Pacific is projected to hold the largest share of the global two-wheeler hub motor market over the projected period. 

Asia Pacific is projected to hold the largest share of the global two-wheeler hub motor market over the projected period.  This dominance is driven by the high adoption of electric two-wheelers in countries like China and India, supportive government policies, rising urbanization, and growing environmental awareness. Local manufacturing and cost-effective products further strengthen the region's market position.  

Europe is expected to grow at the fastest CAGR of the global two-wheeler hub motor market during the projected period. This Growth is driven by increasing environmental regulations, a strong push for electric mobility, and rising consumer preference for eco-friendly transport. Government incentives, urban mobility initiatives, and the expansion of electric bike-sharing programs also contribute to the region's rapid development.

Company Profiling

Major vendors in the global two-wheeler hub motor market are NEC Corporation, Catchroom, Honeywell International Inc., Chooch.com, Blinkfire Analytics, Inc., Slyce Acquisition Inc., Qualcomm Technologies, Inc., Attrasoft, Inc., SparkTrendz, Google LLC, Gumgum, Inc., Cloudsight, Inc., LTU Tech, Hitachi, Ltd., Kairos AR, Inc., and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In February 2023, FLASH, the technology provider and electronic component firm, further expanded its Electric Vehicle (EV) capabilities and offerings through a fresh technological partnership with GEM Motors, a European electric vehicle maker. Under the agreement, the two firms co-operated to manufacture hub motors for different categories of electric vehicles ranging from 1 kW up to 15 kW. The motors will have a modular and flexible design so that FLASH can provide customized offerings with quicker turnaround times. This allows FLASH to address customers' unique needs and be able to handle their tight project deadlines effectively.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global two-wheeler hub motor market based on the below-mentioned segments:  

Global Two-Wheeler Hub Motor Market, By Motor Type

• Brushed DC Hub Motors
• Brushless DC Hub Motors

Global Two-Wheeler Hub Motor Market, By Power Rating

• 500W
• 500-1000W
• 1000-2000W
• >2000W

Global Two-Wheeler Hub Motor Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa