Rise in adoption of electric vehicles and surge in focus on boosting driving range and overall vehicle efficiency

WILMINGTON, DELAWARE , USA, September 21, 2023 /EINPresswire.com/ — The global Electric Vehicle Transmission Market has been experiencing unprecedented growth in recent years, driven by a surge in the adoption of electric vehicles and a growing focus on enhancing driving range and overall vehicle efficiency. In this blog, we will explore the dynamics of the electric vehicle transmission market, its current state, and its promising future prospects from 2023 to 2031.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

In 2022, the global electric vehicle transmission market was valued at a substantial US$ 8.2 billion. Analysts predict that this market will continue to expand at an impressive Compound Annual Growth Rate (CAGR) of 23.7% over the next decade, reaching an estimated worth of US$ 55.4 billion by 2031.

𝐎𝐛𝐭𝐚𝐢𝐧𝐢𝐧𝐠 𝐚 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=78794

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡

Several key factors are contributing to the growth of the electric vehicle transmission market:

𝐄𝐕 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧: The increasing adoption of electric vehicles, driven by environmental concerns and government incentives, is a primary driver. Major automakers worldwide are investing heavily in electrifying their vehicle fleets, gradually phasing out internal combustion engine (ICE) vehicles.

𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐑𝐚𝐧𝐠𝐞 𝐚𝐧𝐝 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲: Enhancing driving range and overall vehicle efficiency are paramount in the EV industry. EV transmission systems play a critical role in achieving these goals, spurring demand for advanced transmission technologies.

𝐀𝐟𝐭𝐞𝐫𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐧𝐝 𝐑𝐞𝐭𝐫𝐨𝐟𝐢𝐭 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: The availability of aftermarket and retrofit solutions provides lucrative opportunities for market vendors. As the EV market matures, there is a growing demand for transmission upgrades and replacements.

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐚𝐧𝐝 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭: Vendors are investing in research and development to introduce innovative transmission solutions, aiming to capture a larger share of the growing market. This innovation is expected to drive market expansion.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

The market analysis encompasses a comprehensive evaluation at both the global and regional levels. Qualitative analysis covers drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis.

𝐅𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐚𝐬𝐤 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐛𝐞𝐟𝐨𝐫𝐞 𝐦𝐚𝐤𝐢𝐧𝐠 𝐚 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=78794

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞

In 2022, the market featured several key players, including:

Robert Bosch GmbH
Continental AG
ZF Friedrichshafen AG
Hitachi Automotive Systems Ltd.
Siemens AG
Toyota Industries Corporation
Magna International
BorgWarner Inc.
DENSO Corporation
HL Mando Corp.
GKN Automotive Limited
Xtrac Ltd.
Allison Transmission Inc.
EATON Corporation
Dana Limited
JATCO Ltd.
Other Key Players

The competitive landscape highlights market shares by company and provides insights into each company’s profile, product portfolio, sales footprint, key subsidiaries or distributors, strategy, recent developments, and key financials.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

The electric vehicle transmission market is segmented based on various factors, including:

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞: Battery Electric Vehicle, Hybrid Electric Vehicle (Micro Hybrid, Mild Hybrid, Full Hybrid, Plug-in Hybrid), and Fuel Cell Electric Vehicle.

𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞: Passenger Cars, Hatchbacks, Sedans, Utility Vehicles, Light Commercial Vehicles, Heavy Trucks, Buses and Coaches, and Others.

𝐓𝐲𝐩𝐞: Single Speed and Multi-speed.

𝐓𝐫𝐚𝐧𝐬𝐦𝐢𝐬𝐬𝐢𝐨𝐧 𝐓𝐲𝐩𝐞: Automated Manual Transmission (AMT), Automatic Transmission (AT), Continuously Variable Transmission (CVT), and Dedicated Hybrid Transmission/Dual Clutch Transmission (DHT/DCT).

𝐃𝐫𝐢𝐯𝐞 𝐓𝐲𝐩𝐞: Front Wheel Drive (FWD), Rear Wheel Drive (RWD), and All Wheel Drive (AWD).

𝐒𝐚𝐥𝐞𝐬 𝐂𝐡𝐚𝐧𝐧𝐞𝐥: OEM and Retrofit.

𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐢𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐛𝐞𝐟𝐨𝐫𝐞 𝐦𝐚𝐤𝐢𝐧𝐠 𝐚 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐭𝐨 𝐛𝐮𝐲 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 – https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=78794

𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝

The electric vehicle transmission market analysis spans across several regions, including:

North America
Europe
Asia Pacific
Middle East & Africa
South America

𝐂𝐨𝐮𝐧𝐭𝐫𝐢𝐞𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝

Key countries covered in the market analysis include:

U.S.
Canada
Germany
U.K.
France
Spain
Italy
Russia & CIS
Japan
China
India
ASEAN
Brazil
Mexico
GCC
South Africa

The electric vehicle transmission market is on a remarkable growth trajectory, fuelled by the rapid electrification of vehicles, increased focus on driving range and efficiency, and ongoing innovation in transmission technologies. As electric vehicles become the norm rather than the exception, the market is poised for substantial expansion, creating significant opportunities for industry players and driving a greener future for transportation.

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 –

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Nikhil Sawlani
Transparency Market Research Inc.
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