Global Hub Motor Market Is Grow at a CAGR of 7.5% and Expected to Reach USD 14.28 Billion by 2026 from USD 7.45 Billion in 2017
Global Hub Motor Market is accounted for $7.45 billion in 2017 and is expected to reach $14.28 billion by 2026 growing at a CAGR of 7.5% during the forecast period. Some of the key factors driving the market growth include increasing sales of electric two wheelers globally, increased driving range and government purchase incentives for electric two wheelers. However, factors such as lack of awareness of general population related to motorcycle hub motors is restraining the market growth.
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