Hub Motor Market – Industry Trends and Forecast

Hub motor market size is valued at USD 12.23 billion by 2028 and is expected to grow at a compound annual growth rate of 5.65% over the forecast period of 2021 to 2028. Data Bridge Market Research report on hub motor market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

Hub motors are the type of motor power generators that are installed on the wheels of the vehicles and are used for the improvement in effectiveness and performance of the vehicles. They are installed on the wheels of the electric vehicles so that the load on the engine can be reduced and the performance of the vehicle is enhanced.