The electric vehicle transmission market includes transmission systems designed specifically for electric vehicles. Electric vehicle transmissions mainly include single-speed transmissions and multi-speed transmissions. Single-speed transmissions offer simplicity and robustness at an affordable cost, while multi-speed transmissions provide for greater optimization of the electric motor's output. Transmissions help electric vehicles achieve optimum performance in terms of acceleration, hill climbing ability, and regenerative braking. The growing electric vehicles market driven by supportive government policies and regulations regarding emission reduction is a major driver of the electric vehicle transmission market.

The Global Electric Vehicle Transmission Market is estimated to be valued at US$ 15.26 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the electric vehicle transmission market are Aisin Seiki Co., Ltd., Allison Transmission Inc., AVL List GmbH, BorgWarner Inc., Continental AG, Dana Incorporated, Eaton Corporation plc, GKN Automotive Limited, JATCO Ltd., Magna International Inc., Nidec Corporation, Schaeffler AG, Valeo SA, Vitesco Technologies, ZF Friedrichshafen AG. Key players are focusing on developing advanced transmission systems with improved efficiency, durability, and driving range.

The Electric Vehicle Transmission Market Trends Stringent emission norms and supportive government policies promoting electric vehicle adoption are fueling the sales of electric vehicles. This in turn is increasing the demand for specialized electric vehicle transmission systems.

The market is witnessing rapid global expansion with growing electric vehicle sales across major markets such as China, Europe, and North America. Development of charging infrastructure and production facilities for electric vehicles in developing nations will further support the electric vehicle transmission market globally over the forecast period.

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