Driving Electric Vehicle Transmission Market Growth in 2025: The Role of Driving Forces Behind the Growth of the Electric Vehicle Transmission Market

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Electric Vehicle Transmission Market Size Growth Forecast: What to Expect by 2025?
The market size of electric vehicle transmission has seen exceptional growth in the past few years. The market, which was valued at $9.22 billion in 2024, is expected to expand to $11.24 billion in 2025, illustrating a compound annual growth rate (CAGR) of 21.9%. Factors contributing to this significant growth during the historical period include breakthroughs and experiments in the early stages, an increase in the appeal and preference for EVs, as well as environmental concerns and climate change.

How Will the Electric Vehicle Transmission Market Size Evolve and Grow by 2029?
The market size for electric vehicle transmissions is anticipated to witness accelerated expansion in the upcoming years. The market evaluation is predicted to reach $22.25 billion in 2029 with a compound annual growth rate (CAGR) of 18.6%. The projected growth during the predicted period is attributed to factors such as regulatory norms and emission standards, emphasis on sustainability and ecological consciousness, investments in infrastructure, and measures to reduce costs. Key trends for the forecast period encompass efficiency optimization, integration of motor and transmission, development of multi-speed transmission, standardization and modularization, and the utilization of advanced materials.

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What Drivers Are Propelling the Growth of Electric Vehicle Transmission Market Forward?
The surge in demand for electric vehicles is forecasted to stimulate the expansion of the electric vehicle transmission market in the future. Electric vehicles, or EVs, are vehicles energized by one or more electric motors that utilize electrical energy preserved in rechargeable batteries or other storage devices. The transmissions for these electric vehicles are designed to efficiently and effectively deliver power from the electric motor to the wheels, thereby accommodating the unique aspects of electric propulsion. For example, in April 2023, the International Energy Agency, an intergovernmental organization based in France, reported that global electric vehicle sales had surpassed 10 million units in 2022, with projections of a 35% increase to 14 million units in 2023. Consequently, the escalating demand for electric vehicles is propelling the expansion of the electric vehicle transmission market.

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Which Emerging Trends Are Transforming the Electric Vehicle Transmission Market in 2025?
Key players in the electric vehicle transmission industry are focusing on innovative breakthroughs like electrified e-transmissions to cater to the requirements of electric and hybrid commercial vehicles and enhance power distribution. This is an EV transmission system specially made for commercial vehicles to give optimal efficiency, performance and maximum startability, road speed, and gradeability. For example, in May 2023, Dana Incorporated, an automotive industry firm based in the US, launched its spicer electrified e-transmissions, tailored for medium-duty electric vehicle uses. These e-Transmissions are created to deliver high efficiency and performance and include features like a Dana high-efficiency motor, an integrated inverter system, a Dana Graziano designed electromechanical actuation system, and a three-speed system optimized with Ravigneaux gearing. Furthermore, it comes in two models: the eS4700t and the eS7900t, providing an output torque of 4,700 and 7,900 Nm respectively.

What Are the Key Segments in the Electric Vehicle Transmission Market?
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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Who Are the Key Players Shaping the Electric Vehicle Transmission Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Electric Vehicle Transmission Market?
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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