EV Transmission Market to 2027 by Type (Single Speed and Multi-Speed); by Driveline Type (Battery Electric vehicle (BEV) and Hybrid Electric Vehicle (HEV))
With growing innovations in the electric vehicle industry, transmission systems are also seeing an upward trend in technology enhancements and advanced features. One such trend is multi-speed transmission systems which help in power delivery as multi-speed transmission has a different gear ratio, the performance scope of the motor can be expanded (with massive torque at low speed and with the high rotate speed at high speed). Hence, the growing demand for electric vehicles and increasing technology advancements in the transmission systems are some of the major factors that are anticipated to drive the growth of global electric vehicle (EV) Transmissions during the forecast period of 2020 to 2027. The market for electric vehicle (EV) Transmission has been segmented majorly on the basis of transmission type which is sub segmented into single speed and multi-speed. During the forecast period of 2020 to 2027, the increasing demand and adoption of electric vehicles and favorable government initiatives are the two major factors that are expected to drive the demand for electric vehicle (EV) Transmissions worldwide.
Additionally, the demand for electric bus and trucks is exponentially growing which is facilitating the OEMs to procure components of the vehicles in large quantity. However, high upfront costs and scalability issues may restrain the future growth of the market. Despite these limitations, the growing demand for electric trucks & buses and growth of multi-speed transmission systems are some of the factors that are projected to offer ample growth opportunities for the players operating in the electric vehicle (EV) Transmission market during the forecast period of 2020 to 2027. In EVs, the role of transmission in a buyer`s purchasing decision will not be as relevant as it is in a gas-powered vehicle. The reason being, in a gas-powered vehicle that operates between 1,000-7,000 RPM, transmission acts as an intermediary between engine and wheels. It allows engine RPM reduction by many factors to be transmitted smoothly to the wheels. But, in EVs, 100% of rated torque is available at 0 RPM, and the motor has a flat torque curve. A single or two-speed transmission does the job as compared to 6, 7, 8 or now even 10 speed automatics.
Players present in the electric vehicle (EV) Transmission market takes steps to strengthen their services portfolio in order to have high clientele. To accomplish this goal, companies take initiatives with respect to merger & acquisitions of other players, which would eventually help to increase their business revenue, geographical imprints throughout the globe. For instance, Dana incorporated, a US-based company, Incorporated Secures Electric Powertrain Programs with Two Leading Medium-Duty Truck Manufacturers
