Market Overview:

The Global EV Transmission Market size is expected to grow from USD 8.34 billion in 2022 to USD 28.89 billion by 2030, at a CAGR of 16.8% during the forecast period (2023-2030).

Electric vehicle transmissions are responsible for transferring mechanical power from the electric motor to the wheels. While single-speed transmissions are common in most electric cars for efficient operation, certain vehicle types benefit from multi-speed gearboxes. The field of power electronics has undergone significant advancements, moving away from discrete power devices and complex design methodologies. Power electronics now integrate with high-speed networking, microprocessors, smart power converters, and advanced thermal management techniques. They keep pace with technological advancements in power density, compact size, weight, and power consumption (SWaP). The development of contemporary power electronics will drive market growth, benefiting industries such as aircraft, consumer goods, heavy industry, and automobiles, by enhancing usefulness, safety, and performance.

Top Key Players Covered in The EV Transmission Market:

• Continental AG (Germany)
• AISIN SEIKI CO.LTD (Japan)
• ZF Friedrichshafen AG (Germany)
• AVL List GmbH (Austria)
• BorgWarner Inc. (US)
• Allison Transmission Inc. (US)
• Dana Limited (US)
• JATCO Ltd (Japan)
• Schaeffler Technologies AG & Co. KG (Germany)
• Eaton (Ireland) And Other Major Players.

Market Dynamics and Factors:        

The exponential growth in the electric vehicle (EV) market serves as a significant driver for the global EV transmission market. As the adoption of EVs increases, there is a corresponding rise in the demand for efficient and reliable transmission systems specifically designed for electric vehicles. The transition towards electrification is driven by factors such as environmental concerns, government incentives, and advancements in battery technology. This surge in EV sales and production drives the need for specialized transmission solutions to optimize power delivery and enhance overall vehicle performance. Consequently, the exponential growth in the EV market directly fuels the expansion of the global EV transmission market.

The global EV transmission market presents a significant opportunity driven by several factors. the technological advancements in transmission technology, such as dual-clutch and e-axle systems, offer improved efficiency and performance for electric vehicles. Additionally, the expansion of charging infrastructure and government initiatives promoting EV adoption provide a favorable environment for market growth. Moreover, collaborations between automakers and transmission manufacturers to develop innovative transmission solutions for electric vehicles further contribute to the opportunities in the global EV transmission market.

 The EV Transmission Market Report Highlight:

• By Transmission System, the AT Transmission segment is anticipated to lead the growth of the EV Transmission market in the forecasted timeframe. Automatic transmissions are widely used in electric vehicles due to their convenience and ease of use. They provide smooth and seamless shifting, enhancing the overall driving experience for EV owners.
• By Transmission Type, the Single Speed segment is expected to have the highest share of the EV Transmission market over the projected period. The majority of electric vehicles utilize single-speed transmissions due to their simplicity and efficiency. Single-speed transmissions are well-suited for the torque characteristics of electric motors, providing a direct and seamless power transfer to the wheels.
• By Vehicle Type, the Battery Electric Vehiclesegment is anticipated to lead the growth of the EV Transmission market in the forecasted timeframe. BEVs solely rely on electric power stored in the battery for propulsion and do not have an internal combustion engine. As the demand for fully electric vehicles continues to rise, the need for specialized transmission systems for BEVs also increases.
• The Asia Pacific region is expected to have the highest share of the EV Transmission market over the projected period. the region has a strong presence of major electric vehicle manufacturers and suppliers, including China, Japan, and South Korea. These countries have been at the forefront of electric vehicle adoption and have robust domestic markets for electric vehicles.

Key Industry Development:

• In January 2023, Weber Drivetrain announced a strategic partnership with Wuxi Lingbo Electronic Technology (China) to manufacture controllers and BMS for electric two-wheelers in India. This represents a significant step towards localized production of EV components in India.
• In January 2023, ARENQ forged a three-year association with KAL for the distribution of e-vehicles in Kerala and Maharashtra. This expands reach and accessibility of EVs in these key Indian markets.

EV Transmission Market Segmentation:

By Transmission System

• AMT Transmission
• CVT Transmission
• AT Transmission
• Others

By Transmission Type

• Single Speed
• Multi-Speed

By Vehicle Type

• Battery Electric Vehicle
• Plug-in Hybrid Electric Vehicle
• Hybrid Electric Vehicle

For this report, Introspective Market Research has segmented the EV Transmission Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

North America 

• The U.S. 

• Canada 

• Mexico 

Eastern Europe 

• Russia  

• Bulgaria 

• The Czech Republic 

• Hungary 

• Poland 

• Romania 

• Rest of Eastern Europe 

Western Europe  

• Germany 

• UK 

• France 

• Netherlands 

• Italy 

• Spain 

• Rest of Western Europe 

Asia Pacific 

• China 

• India 

• Japan 

• Singapore 

• Australia 

• New-Zealand 

• Rest of APAC 

Middle East & Africa 

• Turkey 

• Saudi Arabia 

• Qatar 

• UAE 

• Israel 

• South Africa 

South America 

• Brazil 

• Argentina 

• Rest of SA