The Business Research Company’s report on the Amusement Parks Global Market Report 2025 Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
#How have key drivers contributed to the rapid growth of the electric vehicle transmission market?
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.
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How has the electric vehicle transmission market size evolved, and what are the latest forecasts for its expansion?
The electric vehicle transmission market size has grown exponentially in recent years. It will grow from $9.22 billion in 2024 to $11.24 billion in 2025 at a compound annual growth rate (CAGR) of 21.9%. 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 $22.25 billion in 2029 at a compound annual growth rate (CAGR) of 18.6%. 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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Which major companies dominate the electric vehicle transmission market?
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
What trends will shape the future of the electric vehicle thermal management system market?
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.
Which region dominates the electric vehicle transmission market, and what factors contribute to its leadership?
Asia-Pacific was the largest region in the electric vehicle transmission market in 2024. 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.
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How is the electric vehicle transmission market segmented, and which segment holds the largest share?
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 Or Dedicated Hybrid Transmission, Automatic Transmission
3) By Vehicle Type: Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle
Subsegments:
1) By Single Speed: Direct Drive Transmission, Fixed Gear Transmission
2) By Multi-Speed: Dual-Speed Transmission, Multi-Ratio Transmission, Continuously Variable Transmission (CVT) For Electric Vehicles
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What defines the structure and scope of the electric vehicle transmission market?
Electric vehicle (EV) transmission refers to the system or mechanism used to transmit power from the electric motor to the wheels of the vehicle. The purpose of an electric vehicle (EV) transmission is to manage the power output of the electric motor and regulate the distribution of power to the wheels.
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