The electric vehicle transmission global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electric Vehicle Transmission Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The electric vehicle transmission market size has grown exponentially in recent years. It will grow from $7.55 billion in 2023 to $9.22 billion in 2024 at a compound annual growth rate (CAGR) of 22%. The growth in the historic period can be attributed to early innovations and experiments, rising popularity in EVs, environmental concerns, climate change.
The electric vehicle transmission market size is expected to see rapid growth in the next few years. It will grow to $18.85 billion in 2028 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be attributed to regulatory policies and emission standards, focus on sustainability and environmental awareness, investments in infrastructure, and cost reduction efforts. Major trends in the forecast period include optimization for efficiency, motor and transmission integration, multi-speed transmission development, standardization and modularization, and adoption of advanced materials.
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Scope Of Electric Vehicle Transmission Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electric Vehicle Transmission Market Overview
Market Drivers –
The increasing demand for electric vehicles is expected to propel the growth of the electric vehicle transmission market going forward. Electric vehicles (EVs) refer to automobiles that are powered by one or more electric motors, using electrical energy stored in rechargeable batteries or other energy storage devices. Electric vehicle transmissions are used for electric vehicles to transfer power from the electric motor to the wheels efficiently and effectively, addressing the unique characteristics of electric propulsion. For instance, in April 2023, according to reports published by the International Energy Agency, a France-based intergovernmental organization, global electric car sales exceeded 10 million units in 2022, with predictions for a 35% growth to 14 million units in 2023. Therefore, the increasing demand for electric vehicles is driving the growth of the electric vehicle transmission market.
Market Trends –
Major companies operating in the electric vehicle transmission market are concentrating on innovative advancements such as electrified e-transmission to meet the needs of electric and hybrid commercial vehicles and provide efficient power delivery. It is an EV transmission system for commercial vehicles designed to provide the highest level of efficiency and performance with maximum startability, gradeability, and road speed. For instance, in May 2023, Dana Incorporated, a US-based automotive industry company, introduced spicer electrified e-transmissions, which are designed for medium-duty electric vehicle applications. These e-Transmissions are engineered to provide high efficiency and performance, with features such as a Dana high-efficiency motor and integrated inverter system, an electromechanical actuation system with a patented Dana Graziano clutch design, and an optimized three-speed system with Ravigneaux gearing. Additionally, it is available in two models, the eS4700t and the eS7900t, offering 4,700 and 7,900 Nm of output torque, respectively.
The electric vehicle transmission market covered in this report is segmented –
1) By Type: Single Speed, Multi-Speed
2) By Transmission system: Automated Manual Transmissions, Continuously Variable Transmissions, Dual Clutch Transmission/Dedicated Hybrid Transmission, Automatic Transmission
3) By Vehicle Type: Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle
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Regional Insights –
Asia-Pacific was the largest region in the electric vehicle transmission market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle transmission market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the electric vehicle transmission market are Hitachi Automotive Systems Ltd., BYD Company Limited, ZF Friedrichshafen AG, Continental AG, Hyundai Motor Company, Magna International Inc., Aisin Seiki Co. Ltd., Valeo SA, Eaton Corporation plc, Nidec Corporation, Schaeffler AG, Parker Hannifin Corporation, BorgWarner Inc., Dana Incorporated, Vitesco Technologies, NIO Inc., Voith Group, GKN Automotive Limited, Allison Transmission Holdings Inc., AVL Schrick GmbH, Punch Powertrain NV, Ricardo plc, Romax Technology Limited, Torqeedo GmbH
Table of Contents
1. Executive Summary
2. Electric Vehicle Transmission Market Report Structure
3. Electric Vehicle Transmission Market Trends And Strategies
4. Electric Vehicle Transmission Market – Macro Economic Scenario
5. Electric Vehicle Transmission Market Size And Growth
…..
27. Electric Vehicle Transmission Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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