LONDON--(BUSINESS WIRE)--The global two-wheeler in-wheel motor market is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the easier maintenance of in-wheel motor when compared with mid-drive motor. Two-wheeler in-wheel motors are fitted at the rear wheels. In some two-wheel-drive vehicles, the in-wheel motors are fitted at the front wheels. In two-wheelers with mid-drive motors, power is transferred to the wheels either by a chain or belt. Mid-drive motors weight more than in-wheel motors and include a belt or a chain for powering the wheels, the likelihood of wear is high. Although this type of motor is easier to repair or service, the maintenance cost is higher compared to in-wheel motors.
This market research report on the global two-wheeler in-wheel motor market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing popularity for two-wheel drive electric two-wheeler as one of the key emerging trends in the global two-wheeler in-wheel motor market:
Global two-wheeler in-wheel motor market: Increasing popularity for two-wheel drive electric two-wheeler
In-wheel motors in all e-scooters and e-motorcycles that are single-wheel-driven are fitted in the rear wheels. This is because in-wheel motors fitted at the rear wheels provide more stability to the vehicle. The ideal place for placing the battery in an electric two-wheeler is under the seat. Hence, connecting the motor to the battery becomes easier when the motor is placed at the rear wheel. In-wheel motors are equipped in the front wheels of two-wheel-drive electric two-wheelers.
“High-powered electric two-wheelers use mid-drive motors to generate greater power, which is negatively affecting the two-wheeler in-wheel motor market. However, along with growing demand for high-powered electric two-wheelers, the increasing popularity of two-wheel-drive electric two-wheelers will support the growth of the global two-wheeler in-wheel-drive market. Two-wheel-drive electric two-wheelers use in-wheel motors for both wheels, or at least for the front wheel,” says a senior analyst at Technavio for research on automotive components.
Global two-wheeler in-wheel motor market: Segmentation analysis
This market research report segments the global two-wheeler in-wheel motor market by application (e-scooter and e-motorcycle) and geographical regions (APAC, EMEA, and the Americas).
The e-scooter segment held the largest market share in 2018, accounting for over 95% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of nearly 87%. This region is expected to dominate the market through 2023, however, there will be a decrease in its market share by nearly 3%.
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