Two-Wheeler Hub Motor Market Expected To Reach Highest CAGR by 2024

-

Factors such as the increasing adoption of electric two-wheelers, growing concern for carbon emissions in the environment, and introduction of advanced hub motors for two-wheelers are expected to drive the growth of the two-wheeler hub motor market at a CAGR of 9.8% during the forecast period (2019–2024), in terms of revenue. With this growth rate, the market size will increase from$4,838.5 million in 2018 to $8,458.7 million by 2024. Also, the lower lifespan of hub motors as compared to two-wheelers leads to the high demand for the former in the aftermarket.


The increasing demand for high-power motors is a key trend in the two-wheeler hub motor market. Key manufacturers like BMW AG, Vectrix, and Zero Motorcycles Inc. offer electric two-wheelers with a motor power more than 30 kilowatts (kW), and they have plans to launch new models of higher motor power. Besides, several original equipment manufacturers (OEMs) of conventional two-wheelers have announced plans to launch high-power electric models in coming years. For example, Zero Motorcycles launched Zero DS ZF7.2, a dual-sport electric motorcycle, in 2018, with an additional 35.0% motor power.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/two-wheeler-hub-motor-market/report-sample

One of the prime factors improving the two-wheeler hub motor market is the increasing deployment of electric two-wheelers. The demand for these vehicles is rising due to the surging concern regarding carbon emission into the environment by conventional fuel-based vehicles. Thus, governments across the world are taking several initiatives, such as focusing on increasing the adoption of electric vehicles, to curb the increasing pollution levels. This factor boosts the demand for electric two-wheelers, which, in turn, drives the demand for two-wheeler hub motors.

The vehicle type segment of the two-wheeler hub motor market is categorized into e-bikes ande-scooters and motorcycles. Of these, the e-scooters and motorcycles category is projected to observe the faster growth during the forecast period. This can be ascribed to the increasing adoption of e-scooters by private and public customers, fueled by the subsidies and incentives offered by governments for these vehicles. Moreover, these vehicles offer a cost-effective and convenient mode of transportation, which further boosts their adoption and, in turn, the requirement for hub motors.

Additionally, the motor architecture segment of the market is classified into induction motor, brushless direct current (BLDC) motor, brushed motor, and permanent-magnet synchronous motor. Among these, the induction motor category, in terms of volume, is projected to witness the fastest growth during the forecast period, owing to the rising demand for high-power electric motorcycles with induction motors. The BLDC motor category held a significant market share in 2018, as it is the most-prominent motor in electric two-wheelers owing to its higher speed, longer operating life, and longer range.

Geographically, the Asia-Pacific (APAC) region held the largest revenue share in the two-wheeler hub motor market in 2018, and it is projected to maintain the same trend in coming years. This is ascribed to the highest demand for electric two-wheelers in China, due to the early adoption of these vehicles in the country and support from the government, in terms of incentives and subsidies. Also, the government is implementing restrictions on conventional vehicles to reduce pollution levels, which leads to the rapid adoption of electric two-wheelers, which, in turn, drives the demand for two-wheeler hub motors.

Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=urban-air-mobility-market

Thus, the rising adoption of electric two-wheelers and growing concern for carbon emissions in the environment are expected to propel the demand for two-wheeler hub motors during the forecast period.


Comments

Post a Comment

Popular posts from this blog

Demand for Electric Bike Set for Stupendous Growth in China and Post 2020, Buoyed by the Global COVID-19 Pandemic

-
In the 1950s, less than 20% of the Chinese people were urban dwellers, and by 2018, this percentage had soared to 59%, as per the World Urbanization Prospects 2018 report of the United Nations (UN). This has led to a massive rise in the number of automobiles on the roads of China, in part, making it the largest carbon emitter in the world. As a result, its government has been strongly encouraging the public to adopt electric vehicles (EV) by implementing stringent emission regulations and offering purchase subsidies and tax rebates. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/china-electric-scooters-and-motorcycles-market/report-sample P&S Intelligence says that the increasing urbanization level, which is expected to touch almost 70% by 2030, will drive the electric bike market in China from $7.7 billion in 2017 to $12.5 billion by 2025, at a 6.1% CAGR during 2018–2025 (forecast period). As per the Health Effects Institute and Tsing...
Read more

India Electric Car Market Will See Strong Expansion Through 2025

-
Image
The air pollution levels in India have risen rapidly over the past few years. As per the Environmental Pollution Index 2018, the country is among the bottom five countries when environment health category is considered and ranked 178 out of 180, in terms of air quality. India’s carbon dioxide emissions rose by 4.6% in 2017. This surging emissions of ultra-fine particulate matter from fuel-based vehicles has caused the death of approximately 1,640,000 people in the country. In order to reduce the pollution, the government of the country is focusing on encouraging the utilization of electric vehicles. Owing to these factors, the demand for electric cars in India has risen considerably. According to a report by P&S Intelligence, the Indian electric car market is expected to generate a revenue of $707.4 million by 2025, rising from $71.1 million in 2017, and is projected to progress at a 34.5% CAGR during the forecast period (2018–2025). The different types of electric cars are hybr...
Read more

Logistics Industry is Expecting Major Tech Revolution in Near Future

-
Image
 The impact of COVID-19on the logistics industry has been quite negative, as the growth of the industry has slowed down due to the nationwide lockdown in most of the affected countries. Owing to the growth in e-commerce activities, increase in the disposable income of customers, and rapid urbanization in emerging economies, such as India and China, the logistics industry had been growing in recent years. Seeing the rising need for the transportation of goods, many new companies were entering the logistics space before the pandemic arrived. TheCOVID-19 impact analysis on the  logistics industry  reveals that trading activities between nations were discontinued to contain the spread of the virus, which disrupted the supply chain. For instance, the supply chain of China is operational across countries including India, South Korea, Japan, Hong Kong, Singapore, the U.K., Spain, Italy, and Germany, all of which are badly jolted by the pandemic. Apart from China, all t...
Read more