A recent report published by Infinium Global Research on electric vehicle transmission system market provides an in-depth analysis of segments and sub-segments in the global as well as regional electric vehicle transmission system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional electric vehicle transmission system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global electric vehicle transmission system market. According to the report, the global electric vehicle transmission system market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
The automotive industry has reached a point of regards to moving forward with electric vehicles or conventional IC engine vehicles. Nowadays, the inventions in the automotive industry are more focused towards the electric vehicles than the conventional vehicle and it is indicating a future where electric vehicles will ultimately phase out the other types. This aspect bodes well for the development of the electric vehicles ancillaries market that includes electric vehicle transmissions as well. Early transmission systems used in electric vehicles were generally equipped with single gears to cater the low power output, however, manufacturers are venturing into developing multi-gear transmissions on account of higher-powered electric vehicles.
Government regulations concerning the use of electric vehicles to control environmental pollution are the major driving factor for the electric vehicle transmission system market. Furthermore, factors such as increased emission of greenhouse gases, growth in sales of plug-in hybrid vehicles and electric vehicles, and rise in sales and production of electric vehicles are other driving factors for the market growth. Most countries across the globe are implementing stringent rules to restrict carbon emission from the automotive industry that helps to fuel the growth of the electric vehicle transmission system market. However, the high cost of adoption and frequent maintenance of advanced transmission systems is restraining the market growth. Moreover, increasing demand for hybrid electric vehicles is anticipated to provide growth opportunities to the market players.
Geographically, Asia-Pacific dominates the global electric vehicle transmission system market due to the high adoption of electric vehicles in countries such as China and Japan. The implementation of stringent government policies that support infrastructural development will drive market growth in Japan. North America is the second-largest market for electric vehicle transmissions owing to the aggressive promotion of electric vehicles by major players in this region.
The report on the global electric vehicle transmission system market covers segments such as gear type, transmission type, and vehicle type. On the basis of gear type, the sub-markets include single gear, and multi gear. On the basis of transmission type, the sub-markets include multi-speed transmission, and single-speed transmission. On the basis of vehicle type, the sub-markets include battery electric vehicle, plug-in hybrid electric vehicle, and hybrid electric vehicle.
The report provides profiles of the companies in the market such as ZF Friedrichshafen AG, BorgWarner Inc., GKN plc, OC Oerlikon Management AG, Divgi-TTS, AVTEC Limited, Magnetic Systems Technology, Mitsubishi Electric Corporation, Hitachi Automotive Systems, Ltd., Schaeffler Technologies AG & Co. KG, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of electric vehicle transmission system market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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