NEW
YORK, June 17, 2024 /PRNewswire/ -- The
global electric vehicle (EV) transmission system
market size is estimated to grow by USD
52.59 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of
almost 36.38% during the forecast period. Increasing
demand for bevs is driving market growth, with a trend
towards increase in popularity of E-axle system
However, lack of adequate supporting infrastructure for
EVs poses a challenge. Key market players include AISIN
CORP., Allison Transmission Holdings Inc., AVL List GmbH,
BorgWarner Inc., Divgi TorqTransfer Systems, Eaton Corp. Plc, GKN
Automotive Ltd., Hewland Engineering Ltd., Hitachi Ltd., JATCO
Ltd., Magna International Inc., Magnetic Systems Technology,
Marposs Spa, Mitsubishi Electric Corp., OC Oerlikon Corp. AG,
Ricardo Plc, Robert Bosch GmbH, Schaeffler AG, Xtrac Ltd., and ZF
Friedrichshafen AG.
![Technavio has announced its latest market research report titled Global electric vehicle (EV) transmission system market 2024-2028 Technavio has announced its latest market research report titled Global electric vehicle (EV) transmission system market 2024-2028](https://mma.prnewswire.com/media/2438898/Technavio_Global_electric_vehicle_EV_transmission_system_market.jpg)
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Electric Vehicle
(EV) Transmission System Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
36.38%
|
Market growth
2024-2028
|
USD 52599.7
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
26.82
|
Regional
analysis
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 50%
|
Key
countries
|
China, US, Norway,
Germany, and UK
|
Key companies
profiled
|
AISIN CORP., Allison
Transmission Holdings Inc., AVL List GmbH, BorgWarner Inc., Divgi
TorqTransfer Systems, Eaton Corp. Plc, GKN Automotive Ltd., Hewland
Engineering Ltd., Hitachi Ltd., JATCO Ltd., Magna International
Inc., Magnetic Systems Technology, Marposs Spa, Mitsubishi Electric
Corp., OC Oerlikon Corp. AG, Ricardo Plc, Robert Bosch GmbH,
Schaeffler AG, Xtrac Ltd., and ZF Friedrichshafen AG
|
Market Driver
The Electric Vehicle (EV) transmission system market is
experiencing growth due to the rising demand for high-efficiency
EVs with extended driving ranges. Lightweighting and larger battery
sizes are key factors in improving efficiency. Integrating electric
motors into rigid rear axles can reduce vehicle weight by up to 100
kg. The development of e-axle systems, which integrate electric
motors and rigid rear axles into a single streamlined module,
further enhances efficiency.
These systems enable the elimination of traditional propulsion
systems and allow for easier battery installation, contributing to
increased EV sales during the forecast period.
The Electric Vehicle (EV) Transmission System market is
experiencing significant growth due to the increasing demand for
sustainable transportation solutions. Motors, vectors, and power
electronics are key components of EV transmission systems. These
systems enable efficient energy transfer from the battery to the
wheels. The market is driven by factors such as government
incentives for EV adoption, advancements in battery technology, and
the growing concern for reducing carbon emissions.
Additionally, the trend towards smart and connected vehicles is
expected to further boost market growth. Cost-effective and
high-performance transmission systems are essential for making EVs
more affordable and competitive with traditional vehicles.
Companies are focusing on developing innovative solutions to
address the challenges of EV transmission systems, such as
improving energy efficiency and reducing weight.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The electric vehicle (EV) transmission system market faces
challenges due to insufficient charging infrastructure. Long charge
times and limited availability of fast-charging ports are major
obstacles. The majority of publicly accessible chargers are
slow-charging, and most fast-chargers are located in urban areas.
Continuous monitoring of fast chargers and lack of standardization
further complicate matters. These issues hinder the widespread
adoption of EVs, including electric motorcycles, negatively
impacting market growth.
- The Electric Vehicle (EV) Transmission System market faces
several challenges. One key challenge is the need for
cost-effective and efficient charging infrastructure. Another
challenge is the development of high-performance batteries with
longer ranges and faster charging times.
- Additionally, the integration of EVs into existing power grids
requires smart transmission systems to manage the variable power
output. Furthermore, regulatory frameworks and standards for EV
transmission systems need to be established and enforced. Lastly,
the scalability of EV transmission systems to meet increasing
demand is a significant challenge. Companies must address these
challenges to drive growth in the EV Transmission System
market.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
- Type
- 1.1 Single-speed transmission
- 1.2 Multi-speed transmission
- Application
- 2.1 Battery electric vehicle (BEV)
- 2.2 Plug-in hybrid electric vehicle (PHEV)
- 2.3 Fuel cell electric vehicle (FCEV)
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Single-speed transmission- The single-size
transmission segment dominates the electric vehicle (EV)
transmission system market due to the simplicity of its design and
the electric motor's ability to generate maximum torque at low
speeds. This segment's growth is driven by the increasing demand
for all-EVs, government incentives, and declining battery
prices.
However, the market faces competition from multi-speed
transmission systems, which some EV manufacturers have started
adopting. Despite this challenge, the single-size transmission
segment is expected to continue its growth trajectory in the
forecast period.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Electric Vehicle (EV) Transmission System Market encompasses
the production and supply of electric traction motors, multi-speed
transmissions, e-axles, and hybrid transmissions for various EV
types, including BEVs and PHEVs. These components facilitate the
efficient transfer of power from the electric motor to the wheels,
ensuring optimal vehicle performance. The market is driven by the
increasing demand for zero-emission vehicles and the implementation
of stringent pollution standards.
New materials and advancements in battery management systems,
signal isolation, and EV battery packs are key factors propelling
market growth. The transmission business is also witnessing
significant developments in high-speed motors and renewable energy
integration. The IEA forecasts a substantial increase in the
adoption of electric vehicles, further boosting market
expansion.
Market Research Overview
The Electric Vehicle (EV) Transmission System Market encompasses
the production and supply of transmission systems specifically
designed for electric vehicles. These systems convert electrical
energy from the battery into mechanical energy to propel the
vehicle. The market is driven by the increasing demand for
sustainable transportation solutions and government initiatives to
reduce carbon emissions.
EV transmission systems utilize various technologies such as
Continuously Variable Transmission (CVT), Single Speed
Transmission, and Dual Motor Transmission. The systems are designed
to optimize energy efficiency and enhance vehicle performance. The
market is expected to grow significantly due to advancements in
battery technology and the increasing popularity of electric
vehicles.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Single-speed Transmission
- Multi-speed Transmission
- Application
-
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Fuel Cell Electric Vehicle (FCEV)
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio