Electric Vehicle (EV) Transmission Market Share | 2022, 2027

EV Transmission Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Single Speed and Multi-Speed); by Driveline Type (Battery Electric vehicle (BEV) and Hybrid Electric Vehicle (HEV)); and Geography

  • Report Code : TIPRE00007781
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 152
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The EV transmission market was valued at US$ 2,236.4 Mn in 2020 and is expected to grow at a CAGR of 14.0% from 2020 to 2027 to reach US$ 3,860.7 Mn by 2027.   

Apart from the traction motor, another critical component related to the power performance in an electric vehicle's systems is the transmission or gearbox in the drive system. When traveling, electric vehicles should have sufficient driving force to overcome road load. The acceleration performance and maximum speed performance of electric vehicles can be observed based on the wheel axle driving force curve and road load curve.

It has been observed that 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). Thus, an electric vehicle with transmission has better road load resistance performance than that with a single ratio gearbox. It can reduce the power requirements for the motor and enhance the performance of the electric vehicle. Therefore, transmission is a better choice to improve the performance of an electric vehicle.    

The COVID-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day, which affects the world's technology supply chain too. The COVID-19 lead towards the emergence of uncertainty in the stock market, massive slowing of the supply chain, falling business confidence, as well as increasing panic among the population. The overall effect of the pandemic is impacting the production process of several industries, such as consumer electronics, automotive, food & beverages, and many more. As the government of the different region has already announced total lockdown as well as temporarily shutdown of industries which is affecting the overall production process. Thus, hinder the overall EV transmission market globally.

Various companies in the Europe and North America focusing on R&D initiatives by various companies and rising investments are further complementing the growth of the global EV transmission market. Some of the key EV transmission manufacturers include Hewland Engineering Ltd, Borgwarner Inc., Continental AG, Porsche AG, Dana Limited, Eaton, and Zf Friedrichshafen AG.

Lucrative Regional EV Transmission Market

Lucrative Regional EV Transmission Market
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.


Market Insights

Favourable Government Initiatives to Boost the Growth

In the past few years, government initiatives to promote the adoption of cleaner transportation options have been growing at an impressive rate. European Union, China, Japan, Canada, India, and South Korea are some of the major geographies where governments are proactively taking steps to increase the adoption of electric vehicles especially cars. For instance, in the European Union there were some significant policy changes were made. These initiatives include improvements in fuel economy standards for trucks and ‘Clean Vehicles Directive’ that is focused on the procurement of electric buses by government. Another directive called ‘Energy Performance Buildings Directive’ is also formed which sets minimum standards for setting up charging infrastructure in buildings. Japan is another example where fuel economy standards were revised for trucks and through Japan’s automotive strategy, the country is expected to reduce 80% of its automotive greenhouse gas emissions by the year 2050. Such favorable initiatives are anticipated to boost the adoption of electric vehicles such as cars, bus and trucks and thus drive the adoption of EV transmission market during the forecast period of 2020 to 2027.    

Transmission Type Insights

On the basis of transmission type, the electric vehicle (EV) transmission market is segmented as single speed transmission and multi speed transmission. Single speed transmission segment is anticipated to grow at the highest CAGR during the forecast period. However, multi speed transmission segment led the EV transmission market in 2019.  

Global EV Transmission Market, by Transmission Type – 2019 & 2027

Global EV Transmission Market, by Transmission Type – 2019 & 2027
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Vehicle Type Insights

The EV Transmission market, by vehicle type, is segmented into passenger cars, commercial vehicle and motorsports. The magnetic technology segment captured dominating share in the global EV Transmission market.     

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EV Transmission Market: Strategic Insights

electric-vehicle-ev-transmission-market
Market Size Value inUS$ 2,236.4 Million in 2020
Market Size Value byUS$ 3,860.7 Million by 2027
Growth rateCAGR of 14.0% from 2020-2027
Forecast Period2020-2027
Base Year2020
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The market initiative is a strategy basically adopted by the companies to expand their footprint across the world and to fulfill the growing demand of the market. The players present in electric vehicle (EV) Transmission market mainly concentrate on the partnership, contractual alliances, and joint initiatives to grow their market share. Most of the market initiatives are observed in Europe and Asia regions, which have high potential to accelerate the electric vehicle (EV) Transmission market. Few of the recent development are listed below;

2019:Volkswagen using Continental in-car application server in ID. Electric vehicles   
2019:Dana Incorporated Secures Electric Powertrain Programs with Two Leading Medium-Duty Truck Manufacturers   

Global Electric vehicle (EV) Transmission Market – By Transmission Type

  • Single Speed
  • Multi-Speed


Global Electric vehicle (EV) Transmission Market – By Driveline Type

  • Battery Electric Vehicle (BEV)
  • Hybrid Electric Vehicle (HEV)


Global Electric vehicle (EV) Transmission Market – By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Rest of World (RoW)

    • Middle East
    • South America 

Companies Profiles

  • BorgWarner Inc
  • Continental AG
  • Porsche AG
  • Eaton Corporation plc
  • Dana Limited
  • ZF Friedrichshafen AG
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type ; by Driveline Type and Hybrid Electric Vehicle ); and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Canada, China, France, Germany, India, Italy, Japan, MEA, Mexico, SAM, South Korea, Spain, United Kingdom, United States

Frequently Asked Questions


Which region led the EV Transmissions market in 2020?

The EV market as well as EV transmission sector in Asian continent is heavily driven by China, followed by Japan. The huge fluctuations in fuel prices and a decline in the subsidies offered on the PHEVs in the regional market, namely in the China, are hindering the sales of the vehicles. Also, the automakers in the region are introducing the plug-in-hybrid varieties, which indicates the shifting of interest of the masses toward eco-friendly electric vehicles. Some of the well- known manufacturers, such as BMW, Mercedes-Benz, Volvo, Volkswagen, Mitsubishi, and Ford among others, have already focusing on the development of the plug-in-hybrid versions of the present IC engine vehicle models. China is one of the largest manufacturer of PHEVs in the region. The country comprises the largest market for these vehicles, with the presence of manufacturers, namely BYD, BAIC, and SAIC.

Which factor is driving the EV Transmissions market?

In the past few years, electric mobility has been growing at an unprecedented rate. The sales of electric vehicles are expanding at a fast pace owing to increasing concerns regarding environmental protection and favorable government policies to boost the adoption of electric vehicles worldwide. As per Global EV Outlook 2019 of International Energy Agency (IEA), electric vehicles in freight transport especially light-commercial vehicles (LCVs) reached 2, 50,000 units in the year 2019. Medium electric truck sales also reached to around 1,000 to 2,000 units in the same year. Presently, China is the leading market for electric vehicles followed by Europe and the US.

Which transmission type led the EV Transmissions market?

Single speed transmission consists of a reverted gear, single reduction gear, and a compound gear train. Based on the transmission type, the single speed transmission segment is anticipated to grow at a nominal CAGR during the forecast period. The development is ascribed to the benefits offered, such as cheap & simple construction, less space necessity, and maximum torque when coupled with motor. Besides, in single speed transmission, there's no moving of gears needed, and there's no requirement of the clutch when compared to manual and automatic transmissions.

The List of Companies -  EV Transmission Market

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

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

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Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

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  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

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