EV Transmission System Market to Grow by USD 52.6 Billion (2024-2028), Vendor Strategies Boost Growth, AI-Powered Market Evolution Report - Technavio

The EV transmission market report forecasts substantial growth in the electric vehicle transmission system market, with a projected increase of USD 52.6 billion at a CAGR of 36.38% between 2023 and 2028. The surge in demand for Battery Electric Vehicles (BEVs), advancements in EV drivetrain market research, and the transition toward sustainable transportation are key factors propelling this expansion. The increasing adoption of e-axle systems, which integrate motors, power electronics, and transmissions into a single unit, is enhancing vehicle efficiency. However, the market faces challenges, including the lack of adequate EV charging infrastructure. The continued focus on electric vehicle transmission system analysis, improvements in charging networks, and growing government support for zero-emission vehicles are expected to drive further growth. Additionally, innovations in electric vehicle gearbox market study and the rising demand for advanced EV powertrain components market size are shaping the market landscape Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Segmentation

By Type

• Single-speed transmission (dominant segment)
• Multi-speed transmission

By Application

• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Fuel Cell Electric Vehicle (FCEV)

Regional Market Trends

APAC (50% market contribution)

• China

Europe

• Germany

• UK

• Norway

North America

• US

South America

Middle East and Africa

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Market Dynamics

Drivers

• Increasing demand for BEVs – Global sales of BEVs reached 4.2 million units in 2021, up from 2.5 million in 2020. Norway, Iceland, and Sweden lead BEV sales.
• Government regulations and pollution control policies – Incentives for zero-emission vehicles are accelerating adoption.
• Advancements in EV technologies – Innovations in electric vehicle gearbox market study and battery management systems are enhancing efficiency.

Trends

• Rise in e-axle systems – The integration of e-axles reduces vehicle weight and enhances power transmission.
• Adoption of multi-speed transmissions – Automated Manual Transmission (AMT) and Continuously Variable Transmission (CVT) are gaining traction.
• Use of lightweight materials – Automakers are focusing on cost-effective designs using high-strength steel and alloys.

Challenges

• Lack of EV charging infrastructure – Limited charging stations and long charging times hinder adoption.
• High cost of EV powertrain components – Battery costs and raw material availability remain concerns.

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Key Players

• AISIN CORP.
• Allison Transmission Holdings Inc.
• AVL List GmbH
• BorgWarner Inc.
• Divgi TorqTransfer Systems
• Eaton Corp. Plc
• GKN Automotive Ltd.
• Hewland Engineering Ltd.
• Hitachi Ltd.
• JATCO Ltd.
• Magna International Inc.
• Magnetic Systems Technology
• Marposs Spa
• Mitsubishi Electric Corp.
• OC Oerlikon Corp. AG
• Ricardo Plc
• Robert Bosch GmbH
• Schaeffler AG
• Xtrac Ltd.
• ZF Friedrichshafen AG

Future Insights

The EV drivetrain market research indicates that advancements in EV transmission technology, regulatory support, and expansion of charging infrastructure will drive the market’s sustained growth. The increasing focus on lightweight materials, cost-effective powertrain designs, and efficiency improvements in EV powertrain components market size will continue shaping the industry through 2028.