Global Electric Vehicle Transmission Market to Reach $43.68 Billion by 2030 at a CAGR of 22.4%

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Aug 15, 2022, 06:45 ET

DUBLIN, Aug. 15, 2022 /PRNewswire/ -- The "Global Electric Vehicle Transmission Market, by Transmission Type, by Transmission System, by Vehicle Type, by Vehicle Type, by Distribution Channel, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.

The global electric vehicle transmission market held a market value of USD 7,256.7 Million in 2021 and is estimated to reach USD 43,689.0 Million by the year 2030. The market is projected to list a CAGR of 22.4% during the forecast period. Moreover, the market held a volume of 4,076.7 thousand units in 2021.

The inclination towards electric cars by many countries has aided in the reduction of several issues of economy, power, environment, and others. Many companies operating in the electric vehicles transmission market as well as its parent industry are focused on developing vehicles with cutting edge technology with newer features and which will be accessible to all target groups in several economies. Long-standing players have a strong catch on demand to sustain their presence in the market. Growing concerns related to the carbon emissions drive the growth of this market.

On the other hand, the availability of charging stations is directly proportional to the demand of electric vehicles. The lack of these settings in many economies pose a restraint to the market growth for electric vehicles.

Growth Influencers:
Rising Adoption of Electric Vehicles
The ever-increasing rise for purchase of electric vehicles all throughout the world is supporting the growth rate of the EV transmission industry. For instance, Volkswagen Group's global deliveries of full-electric vehicles more than doubled in the first half of 2021, substantially driven by demand in Europe. Europe was the automaker's top EV market, with sales of 128,078, up 156 percent. Thus, such a high demand substantially increases the growth rate of the global electric vehicles market.

Growing Concerns Related to Carbon Emissions
With the current revolution around depletion of fossil fuels, many countries are seriously considering developing measures supporting the betterment of the environment, and thus the society and community at large. In India, 995 metric tons of carbon emissions occur each year. Such alarming statistics has caused the people to adopt EV strategies, which indirectly increases the demand for EV transmission industry.

Segments Overview:
The global electric vehicle transmission market is segmented into transmission type, transmission system, vehicle type (power), vehicle type (design/model), and distribution channel.

By Transmission Type

Single Speed
Multi Speed
2 Speed EV Transmission
3 Speed EV Transmission
4 Speed EV Transmission
7 Speed EV Transmission
8 Speed EV Transmission

The single speed segment held the highest growth rate of 22.7%. On the other hand, based on multi speed, the 2 speed EV transmission sub-segment was the highest shareholding amongst all multi speed transmission type.

By Transmission System

AMT Transmissions
AT Transmission
CVT Transmissions
DCT/DHT Transmissions

The AT transmission system held the largest market share of more than 55% in 2021 owing to its high preference rate.

By Vehicle Type (Power)

Battery EV
Plug-In EV
Hybrid EV

The battery EV is estimated to hold an opportunity of more than USD 20,000 Million during 2022 to 2030.

By Vehicle Type (Design/Model)

Cars
Buses
Trucks
Others

The cars vehicle type held more than 60% of the market share in 2021 owing to the increased purchase of EV during that duration.

By Distribution Channel

Online
Offline
OEMs
Aftermarket

The offline segment held the highest CAGR of 22.4% owing to the technological advancements and ease of accessibility factor of this segment.
Key Topics Covered:

Chapter 1. Research Framework

Chapter 2. Research Methodology

Chapter 3. Executive Summary: Global Electric Vehicle (EV) Transmission Market

Chapter 4. Global Electric Vehicle (EV) Transmission Market Overview

Chapter 5. Global Electric Vehicle (EV) Transmission Market Analysis, By Transmission

Chapter 6. Global Electric Vehicle (EV) Transmission Market Analysis, By Transmission System

Chapter 7. Global Electric Vehicle (EV) Transmission Market Analysis, By Vehicle Type (Power)

Chapter 8. Global Electric Vehicle (EV) Transmission Market Analysis, By Vehicle Type (Design/Model)

Chapter 9. Global Electric Vehicle (EV) Transmission Market Analysis, By Distribution Channel

Chapter 10. Global Electric Vehicle (EV) Transmission Market Analysis, By Region

Chapter 11. North America Electric Vehicle (EV) Transmission Market Analysis

Chapter 12. Europe Electric Vehicle (EV) Transmission Market Analysis

Chapter 13. Asia Pacific Electric Vehicle (EV) Transmission Market Analysis

Chapter 14. Middle East & Africa Electric Vehicle (EV) Transmission Market Analysis

Chapter 15. South America Electric Vehicle (EV) Transmission Market Analysis

Chapter 16. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)

Companies Mentioned