Press release
Electric Vehicle Transmission Market: Surging Ahead with a CAGR of 23.7% to Reach US$ 55.4 Bn by 2031
Analysts' Viewpoint on Market Scenario
The surge in the adoption of electric vehicles and the growing emphasis on boosting driving range and vehicle efficiency are key factors expected to drive the electric vehicle transmission market during the forecast period. Major automakers worldwide are committing to the electrification of their vehicle fleets, launching new electric models, and gradually phasing out internal combustion engine vehicles.
Furthermore, the availability of aftermarket and retrofit solutions presents lucrative opportunities for vendors in the global electric vehicle transmission industry. These vendors are focusing on research and development efforts to introduce innovative products, thereby increasing their market share in the electric vehicle transmission market.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ (๐๐ฌ๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐ข๐ฅ ๐๐ ๐๐จ๐ซ ๐๐ฎ๐ข๐๐ค ๐๐๐ฌ๐ฉ๐จ๐ง๐ฌ๐) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=78794&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
Market Introduction
Electric vehicle transmission, also known as an EV transmission or electric powertrain, is a specialized system designed to transfer power generated by an electric motor to the wheels of an electric vehicle. Unlike traditional internal combustion engine vehicles, which use complex multi-speed transmissions, electric vehicles typically employ simpler transmission systems due to the unique characteristics of electric motors.
The primary purpose of an electric vehicle transmission is to control the speed and torque delivered to the wheels, ensuring efficient power distribution for various driving conditions. While many electric vehicles utilize a single-speed transmission or no transmission at all, advancements in technology have led to the exploration of different transmission options, such as multi-speed transmissions or innovative gearbox designs.
Analysis of Key Players
Leading market players are developing cutting-edge electric vehicle transmission technologies to enhance performance. Prominent vendors in the electric vehicle transmission industry include Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Hitachi Automotive Systems Ltd., Siemens AG, Toyota Industries Corporation, Magna International, BorgWarner Inc., DENSO Corporation, and others. These players are profiled based on company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
Rise in Adoption of Electric Vehicles Fueling Market Development
The increasing concerns about climate change, environmental sustainability, and the need to reduce greenhouse gas emissions are driving the transition to electric mobility. Governments worldwide are implementing stringent emission regulations and offering incentives to promote electric vehicle adoption. This has led to a surge in demand for EVs globally, prompting automakers to continuously improve electric vehicle technology, including transmission systems, to enhance overall performance and efficiency.
Many early electric vehicles featured single-speed transmissions, but newer models have explored different transmission options to optimize efficiency and performance, especially at higher speeds. As a result, research and development of advanced transmission technologies are projected to accelerate the growth of the electric vehicle transmission market.
Surge in Focus on Boosting Driving Range and Overall Vehicle Efficiency
Electric vehicle manufacturers are actively seeking ways to improve driving range and overall efficiency. The transmission system plays a crucial role in achieving these goals by minimizing energy losses and enhancing regenerative braking capabilities. As competition in the EV market intensifies, automakers are investing in R&D to create transmission systems that maximize vehicle range and efficiency, thereby improving the overall appeal of electric vehicles to consumers.
The decreasing cost of electric vehicle batteries is enabling manufacturers to explore innovative transmission solutions that can further enhance vehicle performance, efficiency, and driving experience. As battery costs decline, automakers have more room to invest in transmission technology, leading to the development of more efficient and reliable transmission solutions for electric vehicles.
High Demand for Battery Electric Vehicles
Battery electric vehicles (BEVs) are expected to dominate the electric vehicle transmission market from 2023 to 2031. The growth of this segment can be attributed to the increasing adoption of BEVs worldwide. Improvements in battery technology have contributed to the surge in electric passenger car usage, making electric vehicles more affordable and accessible to a broader range of consumers.
Extensive Use of Electric Vehicle Transmission in Passenger Cars
Passenger cars represent the largest vehicle type segment in the electric vehicle transmission market. The rise in sales of passenger vehicles globally is driving the demand for electric vehicle transmissions. Advancements in electric vehicle technology, including more efficient motors and power electronics, have resulted in optimized power delivery and improved performance, further boosting market growth.
Regional Outlook
Asia Pacific is projected to hold the largest share of the electric vehicle transmission market from 2023 to 2031. China, in particular, is a major consumer of electric vehicles due to favorable government policies, subsidies, and investments in charging infrastructure. Other countries in the region, including Japan, South Korea, and India, are also witnessing high adoption of electric vehicles, fueling market expansion.
In Europe and North America, the surge in the popularity of EVs, government initiatives to reduce emissions from internal combustion engine vehicles, and the presence of major OEMs are driving market growth. South America and the Middle East & Africa regions are experiencing gradual increases in electric vehicle adoption, with local policies, infrastructure development, and consumer awareness playing crucial roles in shaping market growth.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ | ๐๐ฆ๐ฆ๐๐๐ข๐๐ญ๐ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=78794<ype=S&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website:ย https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electric Vehicle Transmission Market: Surging Ahead with a CAGR of 23.7% to Reach US$ 55.4 Bn by 2031 here
News-ID: 3430587 • Views: โฆ
More Releases from Transparency Market Research
Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 โฆ
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth.
Uncover essential discoveries and trends fromโฆ
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra โฆ
The global Technetiumโ99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth.
Discover essential conclusions and data from our Report in this sample -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100
Analysts' Viewpoint
The Technetiumโ99mโฆ
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to โฆ
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equineโฆ
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of โฆ
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,โฆ
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide โฆ
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductorsโฆ
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive โฆ
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Clickโฆ
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea โฆ
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current marketโฆ
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E โฆ
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunitiesโฆ
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 โฆ
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawaโฆ
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, โฆ
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are inโฆ
