Hub Motor Market Outlook for 2024 to 2034

The hub motor market value is estimated to be US$ 11.3 billion in 2024. The popularity of electric vehicles (EVs) is rising steadily and is also encouraging the adoption of DIY hub motors for converting conventional bicycles into electric ones.

Sales of electric hub motors are predicted to grow at a CAGR of 6.4% during the forecast period. The global hub motor industry size is estimated to reach a value of US$ 21 billion by 2034.

Hub Motor Market Trends & Analysis

  • In keeping with the growing need for convenient and sustainable urban transportation, motorized wheel hubs have become essential components of electric scooters, bicycles, and many other micro-mobility solutions.
  • The demand for portable and lightweight electric mobility is increasing, fueling sales of brushless hub motors, which are built into bicycle wheels and are considered a small and room-saving option.
  • The development of hub motor conversion kits, including linked and intelligent features, is expected to further popularize the market in the coming days.
Report Attribute Details
Hub Motor Market Size (2024) US$ 11.3 billion
Anticipated Market Value (2034) US$ 21 billion
Projected Growth Rate (2024 to 2034) 6.4% CAGR

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Historical Analysis of the Hub Motor Market Vs Forecast Outlook

The hub motor market was valued at US$ 7.7 billion in 2019. In the following five years, sales of hub motors increased at a CAGR of 8.1% annually.

EV incentives provided by governments in many developing economies also played a significant role in the development of the two-wheeler hub motor market during the historical period. By 2023, the net worth of total hub motors sold globally was US$ 10.5 billion.

Attributes Details
Hub Motor Market Value (2019) US$ 7.7 billion
Historical Market Revenue (2023) US$ 10.5 billion
Historical CAGR (2019 to 2023) 8.1% CAGR

Prominent Factors Influencing the Global Hub Motor Market Growth

To fulfill the rising demand for electric mobility, automotive manufacturers are encouraged by national and international organizations. A significant share of this aid is earmarked to be invested in hub motor technology with supportive regulations and incentives in progressive countries.

Constant improvements in hub motor efficiency due to high power density battery technology are expected to popularize the in-hub electric propulsion systems. However, limited sources of lithium and the rising cost of lead-acid batteries are anticipated to be a possible hindrance in the coming days.

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Country-wise Insights

The table below lists five countries that are expected to be frontrunners in sales of hub motors for mobility scooters.

Regional Market Comparison CAGR (2024 to 2034)
United States 6.7%
Japan 7.9%
United Kingdom 7.5%
South Korea 8.5%
China 6.9%

Higher Research and Development Investments by Manufacturers of Hub Motors in the United States

The United States hub motor market is likely to advance at a rate of 6.7% from 2024 to 2034. The net worth of this regional market is forecasted to reach US$ 3.7 billion by 2034.

Some of the prominent reasons that are expected to retain the dominance of the United States in the global market include:

  • Technological progress in geared hub motors and battery materials by market players.
  • Technological developments in the market have helped in the creation of more effective and long-range electric cars.
  • Powerful hub motors with smart features improve the entire user experience and are anticipated to meet the expectations of consumers in the United States.

Strong Environmental Laws Driving Hub Motor Sales in the United Kingdom

Sales of hub motors in the United Kingdom are likely to rise at a 7.5% CAGR from 2024 to 2034. The net worth of the United Kingdom market is expected to reach US$ 835.8 million by 2034.

Key factors that are propelling sales of hub motors in the country include:

  • The popularity of e-scooters and e-bikes is growing rapidly in many European countries after the fuel price hike.
  • Environmental sustainability objectives incorporates and educational institute campuses have increased the adoption of hub motors for electric skateboards.
  • Growing demand for connected and intelligent electric personal mobility solutions drives hub motor e-scooter sales.

Expanding Electronics Sector Bolstering Motorcycle Hub Motor Market in China

The production of hub motors in China is expected to surge at a CAGR of 6.9% through 2034. The net worth of the hub motor industry in the country is forecasted to reach US$ 3.3 billion by 2034.

Key reasons for the dominance of China in the Asian market include:

  • The quest for economical and efficient mobility is driving up the demand for electric scooter hub motors as average incomes are on the rise in China.
  • Financial incentives for the rural people from the government to buy electric mobility solutions.
  • Chinese manufacturers are focusing on the creation of hub motors with built-in electronics to improve communication and control.

Focus of Japanese Manufacturers on Reducing the Price of Hub Motors

The demand for e-bike hub motors in Japan is expected to rise at a CAGR of 7.9% over the forecast period. The market value is anticipated to reach US$ 2.3 billion by 2034.

Prominent factors fueling hub motor sales and supply in Japan include:

  • A greater focus on electric hub motors and motorized wheel hub drive solutions for urban mobility.
  • High-torque hub motors are more popular as they require less maintenance with fewer moving gears.
  • By using innovative and lightweight materials, Japanese manufacturers are increasing the appeal of hub motors in the country.

Popularity of Hub Motors Designed for Noise Reduction in South Korea

The demand for hub motors in South Korea is expected to rise at a lucrative rate of 8.5% through 2034. This regional industry value is projected to reach US$ 1.4 billion by 2034.

Key factors driving sales of in-wheel hub motors in South Korea include:

  • South Korean government is promoting greater personal mobility solutions like two-wheelers and three wheelers with hub motor systems.
  • Because of their high performance and compact design, hub motors are the favored alternative for many electric vehicle enthusiasts.
  • The increasing acceptance of micro-mobility solutions as a noise reduction method in Korean cities.

Category-wise Insights

Higher Demand for Pedelecs than Electric Scooters and Motorcycles

Attributes Details
Top Product Type Pedelecs
CAGR (2024 to 2034) 6.2%
CAGR (2019 to 2023) 7.9%

Based on the product type, the pedelecs segment is more popular than other types of direct-drive hub motors. This segment is likely to grow at a CAGR of 6.2% from 2024 to 2034. Key reasons driving the segment’s growth are:

  • The dominance of electric two-wheelers is driving sales of hub motors for bicycles or pedelecs.
  • Growing knowledge of practicality as well as the health advantages of hub motor-based pedelecs.

OEMs Drive Higher Sales of Hub Motors

Attributes Details
Top Sales Channel Type Original Equipment Manufacturer (OEM)
CAGR from 2024 to 2034 6%
CAGR from 2019 to 2023 7.7%

Based on the sales channel, original equipment manufacturers currently achieve more sales of in-wheel motors than other segments. Sales of in-wheel hub motors through OEMs are expected to register a CAGR of 6% from 2024 to 2034.

  • Customers mostly prefer original equipment manufacturers who concentrate on providing hub motor kits and warranty time periods.
  • E-bike companies that maintain the hub motor specifications and performance also go with OEMS to retain their competitiveness in the market.

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Competitive Landscape

The overall competition in the wheel hub motor market intensified only in the last few years. The rising number of industrial equipment manufacturers entering this sector can be attributed to the vital role that hub motors play in electric bikes and scooters.

On the other hand, exclusive hub motor manufacturers can benefit from partnerships with electric vehicle makers, having the potential for mass manufacturing and distribution.

Recent Developments

  • In February 2023, FLASH established a technological partnership with the European electric vehicle (EV) manufacturing company GEM Motors. Flash is a technology provider and producer of electronic components and aims to strengthen its electric vehicle production capabilities even further with this collaboration. The two firms also aim to produce hub motors for several categories of electric cars, and FLASH hopes to provide customization choices with a power range of 1 kW to 15 kW.
  • In August 2023, Biketec's FIT system and German car supplier Hirschvogel Holding GmbH, better known as Hirschvogel Automotive Group, collaborated to introduce hub motor technology. This partnership is anticipated to strengthen the European e-bike hub motor market through the forecast years.

Key Players

  • Elaphe Propulsion Technologies Ltd.
  • QS Motor
  • TDCM
  • Robert Bosch GmbH
  • MAC Shanghai Electric Motor Company Ltd.

Hub Motor Market Report Scope

Attribute Details
Estimated Market Size (2024) US$ 11.3 billion
Projected Market Size (2034) US$ 21 billion
Anticipated Growth Rate (2024 to 2034) 6.4%
Forecast Period 2024 to 2034
Historical Data Available for 2019 to 2023
Market Analysis US$ million or billion for Value and Units for Volume
Key Regions Covered North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania
Key Countries Covered United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa
Key Segments Covered By Product Type, By Hub Position, By Sales Channel, and By Region
Key Companies Profiled
  • Elaphe Propulsion Technologies Ltd.
  • QS Motor
  • TDCM
  • Robert Bosch GmbH
  • MAC Shanghai Electric Motor Company Ltd.
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing Available upon Request

Key Segments Covered by Hub Motor Industry Survey Report

By Product Type:

  • Pedelecs
  • Throttle on Demand
  • Scooter or Motorcycle

By Hub Position:

  • Front Hub Motor
  • Rear Hub Motor

By Sales Channel:

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

By Region:

  • North America Market
  • Latin America Market
  • Europe Market
  • East Asia Market
  • South Asia and Pacific Market
  • Middle East and Africa (MEA) Market

Frequently Asked Questions

How Big is the Hub Motor Market in 2024?

The hub motor market is estimated to be around US$ 11.3 billion in 2024.

What is the Growth Outlook of the Market?

The market is set to grow at a 6.4% CAGR over the forecast period.

What is the Projected Value of the Market by 2033?

The market is predicted to be valued at US$ 21 billion by 2034.

What was the Historical Size of the Market?

The market was valued at US$ 7.7 billion in 2019.

Which Country Dominates the Global Hub Motor Market?

The United States accounts for nearly 18% of the revenue share of the global market.

Which Regional Market is Expected to Lead Over the Forecast Period?

South Korea is predicted to witness a CAGR of 8.5% through 2034.

Table of Content
1. Executive Summary
    1.1. Global Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
    3.2. Scenario Forecast
        3.2.1. Demand in Optimistic Scenario
        3.2.2. Demand in Likely Scenario
        3.2.3. Demand in Conservative Scenario
    3.3. Opportunity Map Analysis
    3.4. Product Life Cycle Analysis
    3.5. Supply Chain Analysis
        3.5.1. Supply Side Participants and their Roles
            3.5.1.1. Producers
            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
            3.5.1.3. Wholesalers and Distributors
        3.5.2. Value Added and Value Created at Node in the Supply Chain
        3.5.3. List of Raw Material Suppliers
        3.5.4. List of Existing and Potential Buyer’s
    3.6. Investment Feasibility Matrix
    3.7. Value Chain Analysis
        3.7.1. Profit Margin Analysis
        3.7.2. Wholesalers and Distributors
        3.7.3. Retailers
    3.8. PESTLE and Porter’s Analysis
    3.9. Regulatory Landscape
        3.9.1. By Key Regions
        3.9.2. By Key Countries
    3.10. Regional Parent Market Outlook
    3.11. Production and Consumption Statistics
    3.12. Import and Export Statistics
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
    4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023
    4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034
        4.2.1. Y-o-Y Growth Trend Analysis
        4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type
    5.1. Introduction / Key Findings
    5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2019 to 2023
    5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2024 to 2034
        5.3.1. Pedelecs
        5.3.2. Throttle on Demand
        5.3.3. Scooter or Motorcycle
    5.4. Y-o-Y Growth Trend Analysis By Product Type, 2019 to 2023
    5.5. Absolute $ Opportunity Analysis By Product Type, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel
    6.1. Introduction / Key Findings
    6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Sales Channel, 2019 to 2023
    6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Sales Channel, 2024 to 2034
        6.3.1. Original equipment manufacturer (OEM)
        6.3.2. Aftermarket
    6.4. Y-o-Y Growth Trend Analysis By Sales Channel, 2019 to 2023
    6.5. Absolute $ Opportunity Analysis By Sales Channel, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Position
    7.1. Introduction / Key Findings
    7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Position, 2019 to 2023
    7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Position, 2024 to 2034
        7.3.1. Front Hub Motor
        7.3.2. Rear Hub Motor
    7.4. Y-o-Y Growth Trend Analysis By Position, 2019 to 2023
    7.5. Absolute $ Opportunity Analysis By Position, 2024 to 2034
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
    8.1. Introduction
    8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023
    8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034
        8.3.1. North America
        8.3.2. Latin America
        8.3.3. Europe
        8.3.4. East Asia
        8.3.5. South Asia
        8.3.6. Oceania
        8.3.7. MEA
    8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
    9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
        9.2.1. By Country
            9.2.1.1. USA
            9.2.1.2. Canada
        9.2.2. By Product Type
        9.2.3. By Sales Channel
        9.2.4. By Position
    9.3. Market Attractiveness Analysis
        9.3.1. By Country
        9.3.2. By Product Type
        9.3.3. By Sales Channel
        9.3.4. By Position
    9.4. Key Takeaways
10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
    10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
        10.2.1. By Country
            10.2.1.1. Brazil
            10.2.1.2. Mexico
            10.2.1.3. Argentina
            10.2.1.4. Rest of Latin America
        10.2.2. By Product Type
        10.2.3. By Sales Channel
        10.2.4. By Position
    10.3. Market Attractiveness Analysis
        10.3.1. By Country
        10.3.2. By Product Type
        10.3.3. By Sales Channel
        10.3.4. By Position
    10.4. Key Takeaways
11. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
    11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
        11.2.1. By Country
            11.2.1.1. Germany
            11.2.1.2. Italy
            11.2.1.3. France
            11.2.1.4. UK
            11.2.1.5. Spain
            11.2.1.6. Russia
            11.2.1.7. BENELUX
            11.2.1.8. Rest of Europe
        11.2.2. By Product Type
        11.2.3. By Sales Channel
        11.2.4. By Position
    11.3. Market Attractiveness Analysis
        11.3.1. By Country
        11.3.2. By Product Type
        11.3.3. By Sales Channel
        11.3.4. By Position
    11.4. Key Takeaways
12. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
    12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
        12.2.1. By Country
            12.2.1.1. China
            12.2.1.2. Japan
            12.2.1.3. South Korea
        12.2.2. By Product Type
        12.2.3. By Sales Channel
        12.2.4. By Position
    12.3. Market Attractiveness Analysis
        12.3.1. By Country
        12.3.2. By Product Type
        12.3.3. By Sales Channel
        12.3.4. By Position
    12.4. Key Takeaways
13. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
    13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
        13.2.1. By Country
            13.2.1.1. India
            13.2.1.2. Thailand
            13.2.1.3. Malaysia
            13.2.1.4. Indonesia
            13.2.1.5. Rest of South Asia
        13.2.2. By Product Type
        13.2.3. By Sales Channel
        13.2.4. By Position
    13.3. Market Attractiveness Analysis
        13.3.1. By Country
        13.3.2. By Product Type
        13.3.3. By Sales Channel
        13.3.4. By Position
    13.4. Key Takeaways
14. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
    14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
        14.2.1. By Country
            14.2.1.1. Australia
            14.2.1.2. New Zealand
        14.2.2. By Product Type
        14.2.3. By Sales Channel
        14.2.4. By Position
    14.3. Market Attractiveness Analysis
        14.3.1. By Country
        14.3.2. By Product Type
        14.3.3. By Sales Channel
        14.3.4. By Position
    14.4. Key Takeaways
15. MEA Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
    15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
        15.2.1. By Country
            15.2.1.1. GCC
            15.2.1.2. Rest of MEA
        15.2.2. By Product Type
        15.2.3. By Sales Channel
        15.2.4. By Position
    15.3. Market Attractiveness Analysis
        15.3.1. By Country
        15.3.2. By Product Type
        15.3.3. By Sales Channel
        15.3.4. By Position
    15.4. Key Takeaways
16. Key Countries Market Analysis
    16.1. USA
        16.1.1. Pricing Analysis
        16.1.2. Market Share Analysis, 2023
            16.1.2.1. By Product Type
            16.1.2.2. By Sales Channel
            16.1.2.3. By Position
    16.2. Canada
        16.2.1. Pricing Analysis
        16.2.2. Market Share Analysis, 2023
            16.2.2.1. By Product Type
            16.2.2.2. By Sales Channel
            16.2.2.3. By Position
    16.3. Brazil
        16.3.1. Pricing Analysis
        16.3.2. Market Share Analysis, 2023
            16.3.2.1. By Product Type
            16.3.2.2. By Sales Channel
            16.3.2.3. By Position
    16.4. Mexico
        16.4.1. Pricing Analysis
        16.4.2. Market Share Analysis, 2023
            16.4.2.1. By Product Type
            16.4.2.2. By Sales Channel
            16.4.2.3. By Position
    16.5. Argentina
        16.5.1. Pricing Analysis
        16.5.2. Market Share Analysis, 2023
            16.5.2.1. By Product Type
            16.5.2.2. By Sales Channel
            16.5.2.3. By Position
    16.6. Germany
        16.6.1. Pricing Analysis
        16.6.2. Market Share Analysis, 2023
            16.6.2.1. By Product Type
            16.6.2.2. By Sales Channel
            16.6.2.3. By Position
    16.7. Italy
        16.7.1. Pricing Analysis
        16.7.2. Market Share Analysis, 2023
            16.7.2.1. By Product Type
            16.7.2.2. By Sales Channel
            16.7.2.3. By Position
    16.8. France
        16.8.1. Pricing Analysis
        16.8.2. Market Share Analysis, 2023
            16.8.2.1. By Product Type
            16.8.2.2. By Sales Channel
            16.8.2.3. By Position
    16.9. UK
        16.9.1. Pricing Analysis
        16.9.2. Market Share Analysis, 2023
            16.9.2.1. By Product Type
            16.9.2.2. By Sales Channel
            16.9.2.3. By Position
    16.10. Spain
        16.10.1. Pricing Analysis
        16.10.2. Market Share Analysis, 2023
            16.10.2.1. By Product Type
            16.10.2.2. By Sales Channel
            16.10.2.3. By Position
    16.11. Russia
        16.11.1. Pricing Analysis
        16.11.2. Market Share Analysis, 2023
            16.11.2.1. By Product Type
            16.11.2.2. By Sales Channel
            16.11.2.3. By Position
    16.12. BENELUX
        16.12.1. Pricing Analysis
        16.12.2. Market Share Analysis, 2023
            16.12.2.1. By Product Type
            16.12.2.2. By Sales Channel
            16.12.2.3. By Position
    16.13. China
        16.13.1. Pricing Analysis
        16.13.2. Market Share Analysis, 2023
            16.13.2.1. By Product Type
            16.13.2.2. By Sales Channel
            16.13.2.3. By Position
    16.14. Japan
        16.14.1. Pricing Analysis
        16.14.2. Market Share Analysis, 2023
            16.14.2.1. By Product Type
            16.14.2.2. By Sales Channel
            16.14.2.3. By Position
    16.15. South Korea
        16.15.1. Pricing Analysis
        16.15.2. Market Share Analysis, 2023
            16.15.2.1. By Product Type
            16.15.2.2. By Sales Channel
            16.15.2.3. By Position
    16.16. India
        16.16.1. Pricing Analysis
        16.16.2. Market Share Analysis, 2023
            16.16.2.1. By Product Type
            16.16.2.2. By Sales Channel
            16.16.2.3. By Position
    16.17. Thailand
        16.17.1. Pricing Analysis
        16.17.2. Market Share Analysis, 2023
            16.17.2.1. By Product Type
            16.17.2.2. By Sales Channel
            16.17.2.3. By Position
    16.18. Malaysia
        16.18.1. Pricing Analysis
        16.18.2. Market Share Analysis, 2023
            16.18.2.1. By Product Type
            16.18.2.2. By Sales Channel
            16.18.2.3. By Position
    16.19. Indonesia
        16.19.1. Pricing Analysis
        16.19.2. Market Share Analysis, 2023
            16.19.2.1. By Product Type
            16.19.2.2. By Sales Channel
            16.19.2.3. By Position
    16.20. Australia
        16.20.1. Pricing Analysis
        16.20.2. Market Share Analysis, 2023
            16.20.2.1. By Product Type
            16.20.2.2. By Sales Channel
            16.20.2.3. By Position
    16.21. New Zealand
        16.21.1. Pricing Analysis
        16.21.2. Market Share Analysis, 2023
            16.21.2.1. By Product Type
            16.21.2.2. By Sales Channel
            16.21.2.3. By Position
    16.22. GCC Countries
        16.22.1. Pricing Analysis
        16.22.2. Market Share Analysis, 2023
            16.22.2.1. By Product Type
            16.22.2.2. By Sales Channel
            16.22.2.3. By Position
17. Market Structure Analysis
    17.1. Competition Dashboard
    17.2. Competition Benchmarking
    17.3. Market Share Analysis of Top Players
        17.3.1. By Regional
        17.3.2. By Product Type
        17.3.3. By Sales Channel
        17.3.4. By Position
18. Competition Analysis
    18.1. Competition Deep Dive
        18.1.1. Elaphe Propulsion Technologies Ltd
            18.1.1.1. Overview
            18.1.1.2. Product Portfolio
            18.1.1.3. Profitability by Market Segments
            18.1.1.4. Sales Footprint
            18.1.1.5. Strategy Overview
                18.1.1.5.1. Marketing Strategy
                18.1.1.5.2. Product Strategy
                18.1.1.5.3. Channel Strategy
        18.1.2. QS Motor
            18.1.2.1. Overview
            18.1.2.2. Product Portfolio
            18.1.2.3. Profitability by Market Segments
            18.1.2.4. Sales Footprint
            18.1.2.5. Strategy Overview
                18.1.2.5.1. Marketing Strategy
                18.1.2.5.2. Product Strategy
                18.1.2.5.3. Channel Strategy
        18.1.3. TDCM
            18.1.3.1. Overview
            18.1.3.2. Product Portfolio
            18.1.3.3. Profitability by Market Segments
            18.1.3.4. Sales Footprint
            18.1.3.5. Strategy Overview
                18.1.3.5.1. Marketing Strategy
                18.1.3.5.2. Product Strategy
                18.1.3.5.3. Channel Strategy
        18.1.4. Robert Bosch GmbH
            18.1.4.1. Overview
            18.1.4.2. Product Portfolio
            18.1.4.3. Profitability by Market Segments
            18.1.4.4. Sales Footprint
            18.1.4.5. Strategy Overview
                18.1.4.5.1. Marketing Strategy
                18.1.4.5.2. Product Strategy
                18.1.4.5.3. Channel Strategy
        18.1.5. MAC Shanghai Electric Motor Company Ltd
            18.1.5.1. Overview
            18.1.5.2. Product Portfolio
            18.1.5.3. Profitability by Market Segments
            18.1.5.4. Sales Footprint
            18.1.5.5. Strategy Overview
                18.1.5.5.1. Marketing Strategy
                18.1.5.5.2. Product Strategy
                18.1.5.5.3. Channel Strategy
        18.1.6. HYUNDAI MOBIS
            18.1.6.1. Overview
            18.1.6.2. Product Portfolio
            18.1.6.3. Profitability by Market Segments
            18.1.6.4. Sales Footprint
            18.1.6.5. Strategy Overview
                18.1.6.5.1. Marketing Strategy
                18.1.6.5.2. Product Strategy
                18.1.6.5.3. Channel Strategy
        18.1.7. Schaeffler technologies AG & CO. KG
            18.1.7.1. Overview
            18.1.7.2. Product Portfolio
            18.1.7.3. Profitability by Market Segments
            18.1.7.4. Sales Footprint
            18.1.7.5. Strategy Overview
                18.1.7.5.1. Marketing Strategy
                18.1.7.5.2. Product Strategy
                18.1.7.5.3. Channel Strategy
        18.1.8. NTN Corporation
            18.1.8.1. Overview
            18.1.8.2. Product Portfolio
            18.1.8.3. Profitability by Market Segments
            18.1.8.4. Sales Footprint
            18.1.8.5. Strategy Overview
                18.1.8.5.1. Marketing Strategy
                18.1.8.5.2. Product Strategy
                18.1.8.5.3. Channel Strategy
        18.1.9. Accell Group
            18.1.9.1. Overview
            18.1.9.2. Product Portfolio
            18.1.9.3. Profitability by Market Segments
            18.1.9.4. Sales Footprint
            18.1.9.5. Strategy Overview
                18.1.9.5.1. Marketing Strategy
                18.1.9.5.2. Product Strategy
                18.1.9.5.3. Channel Strategy
        18.1.10. Siemens AG
            18.1.10.1. Overview
            18.1.10.2. Product Portfolio
            18.1.10.3. Profitability by Market Segments
            18.1.10.4. Sales Footprint
            18.1.10.5. Strategy Overview
                18.1.10.5.1. Marketing Strategy
                18.1.10.5.2. Product Strategy
                18.1.10.5.3. Channel Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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