Press release
Top Players and Industry Competition in the Electric Vehicle Transmission Market
Electric Vehicle Transmission Market
Projected Market Size and Growth Trajectory for Electric Vehicle Transmission
The electric vehicle transmission market is forecasted to grow swiftly, reaching a valuation of $25.4 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 18.0% during the forecast period. The surge is primarily driven by advancements in next-generation EV architectures, rising demand for high-performance electric vehicles, the implementation of efficiency-focused regulations, the adoption of multi-motor platforms, and sophisticated drivetrain integrations. Key trends shaping the market include a movement toward single-speed transmissions, the creation of more compact drivetrains, increasing use of multi-speed EV gearboxes, a strong emphasis on optimizing efficiency, and integration with electric axle (e-axle) systems.
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Leading Companies Influencing the Electric Vehicle Transmission Market
The competitive landscape of the electric vehicle transmission industry features several major players, including Hitachi Automotive Systems Ltd., BYD Company Limited, ZF Friedrichshafen AG, Magna International Inc., Aisin Seiki Co. Ltd., Valeo SA, and Nidec Corporation. Other notable companies are Schaeffler AG, BorgWarner Inc., Dana Incorporated, Vitesco Technologies, NIO Inc., GKN Automotive Limited, Punch Powertrain NV, Ricardo plc, Voith Group, Hyundai Motor Company, Eaton Corporation plc, Parker Hannifin Corporation, and AVL Schrick GmbH. These corporations are at the forefront of technology development and market expansion within this segment.
Strategic Moves and Acquisition Activity in the EV Transmission Sector
In August 2023, Gulf Oil Lubricants India Ltd., a prominent lubricant manufacturer and distributor based in India, strategically acquired a 51% stake in Tirex Transmission Private Limited for 75.19 billion INR (approximately Rs 103 crore). With this acquisition, Gulf Oil Lubricants aims to position itself as a key player in the expanding electric vehicle market by offering comprehensive EV solutions. Tirex Transmission Private Limited specializes in manufacturing lithium-ion battery binders and auto parts, including electric vehicle transmissions, thereby complementing Gulf Oil's growth ambitions in the EV segment.
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Upcoming Innovations and Emerging Trends in Electric Vehicle Transmissions
Leading companies in the electric vehicle transmission market are focusing heavily on innovative technologies such as electrified e-transmissions, targeting electric and hybrid commercial vehicles. These systems are designed to maximize efficiency and power delivery, offering excellent startability, gradeability, and road speed. For example, in May 2023, Dana Incorporated-an American automotive manufacturer-unveiled its Spicer electrified e-transmissions, engineered specifically for medium-duty electric vehicle applications. These e-transmissions feature a high-efficiency motor with an integrated inverter, an electromechanical actuation system utilizing Dana's patented Graziano clutch design, and an optimized three-speed arrangement with Ravigneaux gearing. The product is available in two variants: the eS4700t and the eS7900t, delivering output torque of 4,700 Nm and 7,900 Nm respectively.
Detailed Breakdown of the Electric Vehicle Transmission Market Segments
This report divides the electric vehicle transmission market into multiple segments based on type, transmission system, and vehicle type. The primary types include Single Speed and Multi-Speed transmissions. The transmission system categories encompass Automated Manual Transmissions, Continuously Variable Transmissions, Dual Clutch or Dedicated Hybrid Transmissions, and Automatic Transmissions. Regarding vehicle type, the market covers Battery Electric Vehicles (BEVs), Plug-In Hybrid Electric Vehicles (PHEVs), and Hybrid Electric Vehicles (HEVs). Further subsegments are identified for single-speed transmissions, such as Direct Drive Transmission and Fixed Gear Transmission, and for multi-speed transmissions, including Dual-Speed Transmission, Multi-Ratio Transmission, and Continuously Variable Transmission (CVT) designed specifically for electric vehicles.
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