Global Electric Vehicle Transmission Market, by Transmission Type, by Transmission System, by Vehicle Type, by Vehicle Type, by Distribution Channel, Estimation & Forecast, 2017-2030

The global electric vehicle transmission market held a market value of USD 7,256.7 Million in 2021 and is estimated to reach USD 43,689.0 Million by the year 2030. The market is projected to list a CAGR of 22.4% during the forecast period. Moreover, the market held a volume of 4,076.7 thousand units in 2021.

The inclination towards electric cars by many countries has aided in the reduction of several issues of economy, power, environment, and others. Many companies operating in the electric vehicles transmission market as well as its parent industry are focused on developing vehicles with cutting edge technology with newer features and which will be accessible to all target groups in several economies. Long-standing players have a strong catch on demand to sustain their presence in the market. Growing concerns related to the carbon emissions drive the growth of this market.

On the other hand, the availability of charging stations is directly proportional to the demand of electric vehicles. The lack of these settings in many economies pose a restraint to the market growth for electric vehicles.

Growth Influencers:

Rising Adoption of Electric Vehicles

The ever-increasing rise for purchase of electric vehicles all throughout the world is supporting the growth rate of the EV transmission industry. For instance, Volkswagen Group's global deliveries of full-electric vehicles more than doubled in the first half of 2021, substantially driven by demand in Europe. Europe was the automaker's top EV market, with sales of 128,078, up 156 percent. Thus, such a high demand substantially increases the growth rate of the global electric vehicles market.

Growing Concerns Related to Carbon Emissions

With the current revolution around depletion of fossil fuels, many countries are seriously considering developing measures supporting the betterment of the environment, and thus the society and community at large. In India, 995 metric tons of carbon emissions occur each year. Such alarming statistics has caused the people to adopt EV strategies, which indirectly increases the demand for EV transmission industry.

Segments Overview:

The global electric vehicle transmission market is segmented into transmission type, transmission system, vehicle type (power), vehicle type (design/model), and distribution channel.

By Transmission Type

• Single Speed
• Multi Speed
• 2 Speed EV Transmission
• 3 Speed EV Transmission
• 4 Speed EV Transmission
• 7 Speed EV Transmission
• 8 Speed EV Transmission

The single speed segment held the highest growth rate of 22.7%. On the other hand, based on multi speed, the 2 speed EV transmission sub-segment was the highest shareholding amongst all multi speed transmission type.

By Transmission System

• AMT Transmissions
• AT Transmission
• CVT Transmissions
• DCT/DHT Transmissions

The AT transmission system held the largest market share of more than 55% in 2021 owing to its high preference rate.

By Vehicle Type (Power)

• Battery EV
• Plug-In EV
• Hybrid EV

The battery EV is estimated to hold an opportunity of more than USD 20,000 Million during 2022 to 2030.

By Vehicle Type (Design/Model)

• Cars
• Buses
• Trucks
• Others

The cars vehicle type held more than 60% of the market share in 2021 owing to the increased purchase of EV during that duration.

By Distribution Channel

• Online
• Offline
• OEMs
• Aftermarket

The offline segment held the highest CAGR of 22.4% owing to the technological advancements and ease of accessibility factor of this segment.

Regional Overview

By region, the global electric vehicle transmission market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America.

The Asia Pacific market for electric vehicle transmission held the highest market growth rate of 23% owing to the rising strategic developments. The European market is projected to grow steadily with an opportunity of more than USD 9,000 Million during 2022 to 2030.

The North American region is anticipated to grow at a steady rate owing to the rising awareness. Moreover, the Middle Eastern and African region is also expected to grow at a substantial rate.

Competitive Landscape

The prominent players operating in the global electric vehicle transmission market include Allison Transmission Inc., Aisin Seiki Co., Ltd., AVL List GmbH, Continental AG, BorgWarner Inc., Dana Limited, EATON Corporation, Denso Corporation, GKN Plc, Hitachi Automotive Systems Ltd., Hewland Engineering Ltd., JATCO Ltd., Mando Corporation, Magna International, Porsche AG, Schaeffler Technologies AG & Co. KG, Robert Bosch GmbH, Xtrac Ltd, and ZF Friedrichshafen AG.

The prominent four players in the market hold approximately 40% of the market share. These market players are investing in collaborations and product launches. In February, 2022, Allison Transmission collaborated with New Flyer to deliver electric hybrid-equipped buses to Southern Nevada, a public transportation system in Laughlin.

The global electric vehicle transmission market report provides insights on the below pointers:

• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global electric vehicle transmission market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
• Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of electric vehicle transmission products
• Manufacturing Cost Analysis: Cost-share of various components in electric vehicle transmission tools

The global electric vehicle transmission market report answers questions such as:

• What is the market size and forecast of the global electric vehicle transmission market?
• What are the inhibiting factors and impact of COVID-19 on the global electric vehicle transmission market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the global electric vehicle transmission market?
• What is the competitive strategic window for opportunities in the global electric vehicle transmission market?
• What are the technology trends and regulatory frameworks in the global electric vehicle transmission market?
• What is the market share of the leading players in the global electric vehicle transmission market?
• What modes and strategic moves are considered favorable for entering the global electric vehicle transmission market?