EV Transmission Market Key Players and Forecast by 2031

Historic Data: 2021-2022   |   Base Year: 2023   |   Forecast Period: 2024-2031

EV Transmission Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Transmission Type (Single Speed and Multi-Speed); by Driveline Type (Battery Electric vehicle (BEV) and Hybrid Electric Vehicle (HEV)); and Geography

  • Report Date : Sep 2025
  • Report Code : TIPRE00007781
  • Category : Automotive and Transportation
  • Status : Data Released
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 150

The EV Transmission Market size is projected to reach US$ 5,232.4 million by 2031 from US$ 2,869.7 million in 2023. The market is expected to register a CAGR of 7.8% in 2023–2031. The growing development in the electric vehicle industry is having a positive impact on the demand for EV transmission systems globally. The major purpose of EV transmission systems is to manage the power output of electric vehicles and also to distribute the power to wheels. The growing technological advancement in the vehicle industry is projected to drive the growth of the market over the forecast period.

EV Transmission Market Analysis

The growing sales of electric vehicles are owing to the rising focus on fuel efficiency and increasing concern about mitigating environmental pollution. The growing consumer interest in electric vehicles is anticipated to propel the growth of the EV transmission market at the global level. The government's emphasis on adopting cleaner alternatives in daily life is another major factor boosting the sales of electric vehicles, which is having a positive impact on the growth of the market globally.

EV Transmission Market Overview

The EV Transmission Market is classified in terms of type and driveline type. Based on the type, the market is categorized into single speed and multi-speed. On the basis of driveline type, the market is bifurcated into battery electric vehicle (BEV) and hybrid electric vehicle (HEV). Growing production of electric vehicles as the demand is witnessing an upsurge trend is anticipated to drive the market over the forecast period.

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EV Transmission Market: Strategic Insights

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  • Get Top Key Market Trends of this report.
    This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

EV Transmission Market Drivers and Opportunities

Supporting Government Policies and Initiatives for Electric Vehicle Adoption is Expected to be the Prime Driver for the EV Transmission Market

The growing environmental pollution due to fossil fuels is one of the major concerns for the government. To reduce the level of environmental pollution, various governments are emphasizing consumers adopting cleaner, sustainable, and environment-friendly alternatives in daily life by giving special rebates on sales, incentives, lucrative offers, and tax benefits. China,  Japan, the European Union, India, Canada, and South Korea are some of the major geographies where governments are actively working towards boosting the adoption of passenger electric vehicles, which is anticipated to drive the growth of the EV transmission market over the forecast period.

Growing Proliferation of Heavy-Duty Electric Vehicles such as Trucks and Buses

The rising proliferation of heavy-duty electric vehicles for long-haul transportation is anticipated to foster opportunities for the EV transmission market over the forecast period. The transportation sector is one of the major contributors to environmental pollution. The growing usage of electric vehicles in the passenger or commercial vehicles sphere is a major driver for the market globally. China is aggressively emphasizing electric buses, followed by Europe and the US. The increasing commercialization of heavy-duty electric vehicles are major growth opportunity provider for the market globally.

EV Transmission Market Report Segmentation Analysis

Key segments that contributed to the derivation of the EV transmission market analysis are transmission type and driveline type.

  • Based on transmission type, the market has been divided into single speed and multi-speed. The single speed segment held a larger market share in 2023.
  • In terms of driveline type, the market has been segmented into battery electric vehicle (BEV) and hybrid electric vehicle (HEV). The battery electric vehicle segment dominated the market in 2023.

EV Transmission Market Share Analysis by Geography

The geographic scope of the EV Transmission Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Asia Pacific dominated the EV transmission market in 2023. The Asia Pacific region includes China, India, Australia, Japan and South Korea. The high presence of automotive companies and the developing automotive and transportation sectors is acting as a major driver for the market. The automobile companies in the region are focusing on plug-in-hybrid varieties, which shows the consumers’ interest in environment-friendly and sustainable electric vehicles. Some of the major companies, such as Mercedes-Benz, BMW, Volvo, Mitsubishi, Volkswagen, and Ford among others, have already concentrated on the fabrication of the plug-in-hybrid versions of the present IC engine vehicle models. China is one of the largest producers of PHEVs in the Asia Pacific. The country is one of the leading markets for electric vehicles, with the presence of manufacturers, namely BAIC, BYD, and SAIC. Thus, the rising concern for environmental pollution, growing production of electric vehicles and increasing supportive government policies to support the purchase of electric vehicles are major drivers for the market in the Asia Pacific region.

EV Transmission Market Report Scop

EV Transmission Market News and Recent Developments

The EV Transmission Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for EV Transmission Market and strategies:

  • On March 2024, Porsche AG launched the electric Panamera, Macan, Taycan, and 911 model lines. (Source: Porsche AG, Press Release/Company Website/Newsletter)
  • On May 2023, Eaton announced that it is continuing to expand its European eMobility business design capabilities, technologies, and operations to support global electrified vehicle manufacturers. (Source: Eaton, Press Release/Company Website/Newsletter)

EV Transmission Market Report Coverage and Deliverables

The “EV Transmission Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Market dynamics such as drivers, restraints, and key opportunities
  • Key future trends
  • Detailed PEST analysis
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
  • Detailed company profiles with SWOT analysis
Report Scope

EV Transmission Market Regional Insights

The regional trends and factors influencing the EV Transmission Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses EV Transmission Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

electric-vehicle-ev-transmission-market-global-geography
  • Get the Regional Specific Data for EV Transmission Market

EV Transmission Market Report Scope

Report Attribute Details
Market size in 2023 US$ 2,869.7 Million
Market Size by 2031 US$ 5,232.4 Million
Global CAGR (2023 - 2031) 7.8%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Transmission Type
  • Single Speed and Multi-Speed
By Driveline Type
  • Battery Electric vehicle
  • Hybrid Electric Vehicle
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • BorgWarner Inc
  • Continental AG
  • Porsche AG
  • Eaton Corporation plc
  • Dana Incorporated
  • ZF Friedrichshafen AG
  • Aisin Corporation
  • AVL List GmbH
  • Allison Transmission Holdings Inc.
  • Schaeffler Technologies AG & Co. KG

  • EV Transmission Market Players Density: Understanding Its Impact on Business Dynamics

    The EV Transmission Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the EV Transmission Market are:

    1. BorgWarner Inc
    2. Continental AG
    3. Porsche AG
    4. Eaton Corporation plc
    5. Dana Incorporated
    6. ZF Friedrichshafen AG

    Disclaimer: The companies listed above are not ranked in any particular order.


    electric-vehicle-ev-transmission-market-cagr

    • Get the EV Transmission Market top key players overview
    Naveen Chittaragi
    Naveen Chittaragi
    Associate Vice President,
    Market Research & Consulting

    Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

    Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

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