The automotive industry has reached at a crossroad where decisions has to be made with regards to moving forward with electric vehicles or conventional IC engine vehicles. In the present scenario, innovations in the automotive industry are more focused towards the electric vehicles than the conventional vehicle implying a future where electric vehicles will eventually phase out the other types.
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Electric Vehicle Transmission Market: Dynamics
The restraints associated with electric vehicle market are plenty and many which can have a domino effect on the electric vehicles transmissions market as well. It is a clear fact that the sale of electric vehicles determines the strength of the electric vehicles transmission market. Hence, the problems associated with electric vehicles such as high price, subpar performance, travel range anxiety, and lack of charging infrastructure, among others, can hamper the growth of the electric vehicles transmission market.
Electric Vehicle Transmission Market: Segmentation By type, the electric vehicle transmission market can be segmented as:
- Single Gear Mechanism
- Multi Gear Mechanism
By vehicle type, the electric vehicle transmission market can be segmented as:
- Hybrid Electric Vehicles (HEVs)
- Plug-In Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicles (BEVs)
By sales channel, the electric vehicle transmission market can be segmented as:
- Original Equipment Manufacturers (OEM)
- Aftermarket
Electric Vehicle Transmission Market: Regional Outlook
From the regional perspective, the electric vehicles transmission market is anticipated for a steady growth in North America owing to aggressive promotion of electric vehicles by major players. The European region is also posed for a healthy growth due to various subsidies and incentives offered by the economies in the region on purchase of an electric vehicle, hence attracting more customers. The market in Asia Pacific is also expected to flourish well in the upcoming years especially in the Japan and China owing to push by the respective governments to place more emphasis on electric vehicles. The market in both Latin America and Middle East & Europe regions may grow on a stagnant phase, this is due to availability of low-cost fuels such as flex fuel in Brazil and abundance of petroleum in the Middle East.
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Electric Vehicle Transmission Market: Key Participants Examples of some of the participants involved in the manufacture of the global electric vehicle transmission are:
- Oerlikon Graziano SpA
- ZF Friedrichshafen AG
- Allison Transmission Inc.
- Eaton Corporation Plc
- Magna International (Getrag)
- GKN Plc
- BorgWarner Inc.
- Xtrac Ltd.
- Drive System Design Ltd.
- Continental AG
- Hitachi Automotive Systems, Ltd.
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