Latest News- Electric Vehicle (Ev) Transmission System Market: Single-speed transmission is expected to lead the Type segment during 2024-2028

The Electric Vehicle (Ev) Transmission System Market is being driven by Increasing demand for BEVs

The Electric Vehicle (Ev) Transmission System Market is expected to grow at a CAGR of 36.38% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 52599.7 million. The Electric Vehicle (EV) transmission system market is experiencing significant growth due to the increasing demand for more efficient and high-performing EVs. To address this demand, manufacturers are focusing on lightweighting and increasing battery size for improved driving range. One approach to achieving this is by integrating electric motors into the rigid rear axle, reducing vehicle weight by up to 100 kg. Furthermore, advancements in e-axle systems, such as streamlined integration of electric motors and rigid rear axles, are enhancing efficiency and driving range, making EVs a more viable and attractive alternative to traditional internal combustion engine vehicles. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Single-speed transmission
  • Multi-speed transmission
• Application
  • Battery electric vehicle (BEV)
  • Plug-in hybrid electric vehicle (PHEV)
  • Fuel cell electric vehicle (FCEV)
• Geography
  • APAC
    • China
  • Europe
    • Germany
    • UK
    • Norway
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for BEVs
• Reduction in battery pack prices
• Adoption of multi-speed transmission

However, the market also witnesses some limitations, which are as follows:

• Lack of adequate supporting infrastructure for EVs
• Non-uniformity in standards
• Mounting cost pressure on transmission system manufacturers from demand side

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Market Scope in Electric Vehicle (Ev) Transmission System Market Research Report

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Research Analysis Overview

The Electric Vehicle (EV) Transmission System Market encompasses various components and systems including Electric Drive Systems, EV Propulsion Systems, Electric Powertrains, and Electric Drivetrains. It also involves the integration of these systems into EV Architecture and Design, as well as EV Development, Testing, and Validation. Manufacturing, Production, and the Supply Chain are crucial aspects, along with the Aftermarket, Maintenance, Repair, and Servicing. Sustainability, Emissions, Cost, and Ownership Costs are significant factors. Range Enhancement, OTA Updates, Telematics, Charging Infrastructure, Smart Charging, and Policy are key trends. Market Research and Industry Analysis provide valuable insights into EV Market Segmentation and Safety Regulations.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including electric vehicles (EVs), passenger cars (PCs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, market size is determined by the consolidated revenue generated by manufacturers of automotive components and equipment. Key growth drivers in this sector include the escalating demand for electronic control units (ECUs) and other electrical components due to the increasing sales of electric vehicles, motorcycles, and passenger cars over the past decade. Furthermore, advancements in EV powertrains, such as electric motors, electric axles, torque vectoring, and regenerative braking systems, are significantly contributing to market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/