Pune, India, Dec. 09, 2020 (GLOBE NEWSWIRE) -- The global electric vehicle transmission market is set to gain impetus from the increasing shift of people towards electric vehicles because of their ability to provide zero-emission. This information is given by Fortune Business Insights™ in a new report, titled, “Electric Vehicle Transmission Market Size, Share & COVID-19 Impact Analysis, By Transmission System (AMT Transmission, CVT Transmission, AT Transmission, and Others), By Transmission Type (Single Speed and Multi-Speed), By Vehicle Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle and Hybrid Electric Vehicle) and Regional Forecasts, 2020-2027.” The report further states that the market size was USD 5.95 billion in 2019 and is projected to reach USD 17.56 billion by 2027, exhibiting a CAGR of 18.8% during the forecast period.
COVID-19 Pandemic: Shutdown of Production Facilities to Hinder Growth
The emergence of the COVID-19 pandemic has taken a toll on the global automotive industry. Most of the production facilities are temporarily closed by renowned firms as the demand is declining. The sales of electric vehicles are also dropping. But, the sales of Tesla in the U.S. showcased a surge of 3% in 2020. Our in-depth research reports will help you choose the best strategy to generate more sales of electric vehicle transmission systems.
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A list of all the renowned manufacturers operating in the global market:
- Continental AG (Hanover, Germany)
- AISIN SEIKI CO., LTD. (Aichi, Japan)
- ZF Friedrichshafen AG (Friedrichshafen, Germany)
- AVL List GmbH (Graz, Austria)
- BorgWarner Inc. (Michigan, United States)
- Allison Transmission Inc. (Indiana, United States)
- Dana Limited. (Ohio, United States)
- JATCO Ltd (Shizuoka, Japan)
- Schaeffler Technologies AG & Co. KG (Herzogenaurach, Germany)
- Eaton (Dublin, Ireland)
What Does This Report Contain?
The report provides a detailed analysis of the market, as well as future estimations and latest trends to showcase the crucial investment pockets. It also aims to offer an elaborate insight into the potency of the suppliers and buyers in the industry with the help of Porter’s five forces analysis. At the same time, the report delivers significant data associated with the key opportunities, hindrances, and growth drivers.
Drivers & Restraints
Increasing Prices of Petrol and Diesel to Spur Growth
A major benefit of using electric vehicles is that they provide low emission and do not require gasoline. Gasoline-powered vehicles are able to convert around 16%-20% energy present in the fuel to wheels, whereas electric vehicles can convert approximately more than 50% of electric energy from the power source. Apart from that, the increasing prices of diesel and petrol is compelling the masses to shift towards low-emission and fuel-efficient vehicles. Also, government bodies of various countries are implementing strict norms to control emissions. These factors are set to propel the electric vehicle transmission market growth in the near future. However, unlike conventional vehicles, electric vehicles are expensive. It may obstruct growth.
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Segment
AT Transmission Segment Holds Major Share Backed by its Beneficial Properties
Based on transmission systems, the AT transmission segment currently holds the major electric vehicle transmission market share because it possesses numerous beneficial properties. It does not require a gear shift hustle and provides a smooth riding experience. The AMT transmission segment held 19.8% in terms of share in 2019 on account of its ability to provide two modes, namely, manual and automatic transmission.
Regional Analysis
Asia Pacific to Dominate Backed by Higher Adoption of Mini Electric Vehicles
In 2019, Asia Pacific procured USD 2.98 billion in terms of revenue. It is set to retain its dominant position throughout the forthcoming years stoked by the increasing sales and production of electric vehicles in this region. Also, the rising adoption of mini electric vehicles in China is set to bolster the demand for electric vehicle transmission systems in the region.
In North America, reputed companies, such as Tesla are investing heavily in the research and development of electric vehicle transmission systems. Europe, on the other hand, would exhibit an exponential growth fueled by the implementation of strict rules by regulatory bodies. The European Union, for instance, has set a target of 95g CO2 per Km for 2020/2021.
Competitive Landscape
Key Players Focus on Partnership & Acquisition Strategies to Gain Competitive Edge
The market is fragmented with the presence of a large number of companies. Some of them are aiming to introduce novel electric vehicle transmission systems in the market by partnering up with leading firms. A few others are adopting the acquisition strategy to strengthen their positions.
Below are the two latest industry developments:
- October 2020: Valeo and Dana Incorporated collaborated to launch end-to-end 48V hybrid and electric vehicle systems in the market. The first of these will be introduced in 2020.
- April 2019: Allison Transmission Holdings Inc. acquired AxleTech and Vantage Power’s electric vehicle systems division. It will help the company to strengthen its position in propulsion technology.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/electric-vehicle-transmission-market-102213
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Electric Vehicle Transmission Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Transmission System
- AMT Transmission
- CVT Transmission
- AT Transmission
- Others
- Market Analysis – By Transmission Type
- Single Speed
- Multi Speed
- Market Analysis, Insights and Forecast – By Vehicle Type
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Hybrid Electric Vehicle
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Continued…!
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Electric Vehicle Market Size, Share & Industry Analysis, By Type (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV), and Others), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2019-2026
Electric Vehicle Telematics Market Size, Share & COVID-19 Impact Analysis, By Type (Embedded and Retrofitted), By Application (Safety & Security, Entertainment, Information & Navigation, Diagnostics, Others) and Regional Forecast, 2020-2027
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