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Electric Vehicle (EV) Transmission Market to Reach $15.38 Bn, Globally, by 2026 at 25.8% CAGR: Allied Market Research

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Allied Market Research

29 Aug, 2019, 12:50 GMT

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Rising demand for fuel efficient and low-emission vehicles, growth in production of electric vehicles, and government initiative to support adoption of electric vehicle drive the global EV transmission market growth

PORTLAND, Oregon, Aug. 29, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Electric Vehicle (EV) Transmission Market by Transmission Type (Single Speed and Multi Speed), Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in hybrid Electric Vehicle, and Others) and Transmission System (AMT Transmissions, CVT Transmissions, DCT/DHT Transmissions, and AT Transmission): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global electric vehicle (EV) transmission industry generated $2.52 billion in 2018, and is estimated to reach $15.38 billion by 2026, registering a CAGR of 25.8% from 2019 to 2026.

Rise in demand for fuel efficient and low-emission vehicles, growth in production of electric vehicles, and government initiatives to support adoption of electric vehicle drive the global EV transmission market growth. However, high cost of electric vehicles restraint the growth of the market. On the other hand, technological advancements in electric vehicles and incorporation of Vehicle-To-Grid (V2g) EV charging stations are expected to provide opportunities for the market.

Single speed segment dominated in terms of revenue

Based on transmission type, the single speed segment accounted for the major share in the global electric vehicle transmission market in 2018, contributing around 98% of the total share. This is due to the advantages such as requirement of less space, cheap, economical & easy construction, and instant torque provided when coupled with motor. Contrarily, the multi-speed transmission segment is expected to register the highest CAGR of 45.3% from 2019 to 2026. This is attributed to the factors such as higher efficiency range, lower noise, and better launch acceleration.

Get Sample Report for More Details @ https://www.alliedmarketresearch.com/request-sample/4095

Hybrid electric vehicle segment to continue its dominant share by 2026

Based on vehicle type, the hybrid electric vehicle segment held the highest market share in the EV transmission market in terms of revenue in 2018, contributing more than two-fifths of the total share. This segment is expected to continue its dominant share during the forecast period. This is due to factors such as remarkable efficiency, availability of gasoline-powered ICE for long range, and others. On the other hand, the plug-in hybrid electric vehicle segment would register the fastest growth rate, with a CAGR of 30.9% from 2019 to 2026. This is due to lower purchasing and running cost as compared to other electric vehicles (EVs) and increased distance range than other EVs owing to range-extending gasoline engine.

AT transmission segment to contribute highest share during the forecast period

On the basis of transmission system, the AT transmission segment held the highest market share in the electric vehicle transmission market in 2018, contributing more than half of the total share. This is because AT transmissions are powerful than manual transmission and these gears shifts faster than majority of the manual transmission. On the other hand, the AMT transmissions segment would register the fastest growth rate, with a CAGR of 29.7% from 2019 to 2026, owing to efficient fuel consumption and driving comfort provided by AMT transmission.

Inquire more about this report @ https://www.alliedmarketresearch.com/purchase-enquiry/4095

Asia Pacific to contribute the highest share, North America to follow

Asia-Pacific contributed nearly two-fifths of the total share of the global EV transmission market in 2018, due to remarkable growth of electric vehicle production and government initiatives for adoption of electric vehicle. On the other hand, North American region contributed nearly one-fourth of the total revenue in 2018. LAMEA is estimated to grow at the highest CAGR of 30.7% from 2019 to 2026, due to rise in demand for fuel efficient and low-emission vehicles.

Leading players of the electric vehicle (EV) transmission market

  • Schaeffler Technologies AG & Co. KG
  • Dana Limited
  • Aisin Seiki Co. Ltd
  • Allison Transmission Inc.
  • AVL List GmbH
  • BorgWarner Inc
  • Continental AG
  • Eaton
  • JATCO Ltd
  • ZF Friedrichshafen AG

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:

Electric Vehicle Chargers Market to Reach $1,786 Billion, by 2023

Car Rental Market Expected to Reach $164,335 Million, by 2022

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.           

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States       
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

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