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Newstrail
Newstrail
According to the latest report by IMARC Group, titled “Hub Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global hub motor market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026. A hub motor is an electric motor integrated into the wheels of a vehicle. It is majorly differentiated into geared and gearless hub motors. It is an independent drive system that converts the electric energy stored in a battery pack into rotatory motion. This system minimizes…