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Electric Vehicle Reducer Market will reach a value of US$ 20.88 Bn by 2033 at a CAGR of 26.6%: Future Market Insights, Inc. Latest Market Study

Tuesday, November 29, 2022 7:00 AM
Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / November 29, 2022 / The adoption of Electric Vehicle Reducer market is expected to increase at a CAGR of 26.6% during the forecast period. The Electric Vehicle Reducer market size is anticipated to rise from US$ 1,974.7 Mn in 2023 to US$ 20,884.9 Mn in 2033.

Future Market Insights, Inc., Tuesday, November 29, 2022, Press release picture

The main driver fuelling market expansion is the expansion of the electric car industry. Electric vehicles outperform conventional vehicles in terms of fuel economy, CO2 emissions, and maintenance, as well as the convenience of charging at home, a smooth ride, and lower engine noise.

Governments worldwide are focusing their efforts on combating climate change. As a result, electric vehicle component manufacturers are ramping up their investment in the production of electric vehicle components, which is expected to propel the global electric vehicle reducer market.

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Tax exemptions, non-monetary benefits such as new car registration and carpool lane access, increasing vehicle range, active OEM participation, providing charging infrastructure in regular areas, and other factors can all contribute to the growth of the EV reducer market trends.

Existing players are heavily focused on innovation and the development of new components and technology in order to overcome disadvantages and strengthen their positions in the global market.

Key Takeaways from Market Study

  • Asia Pacific is expected to be the most profitable region during the forecast period, having dominated the global electric vehicle reducer market in 2021. Whereas India is showing the highest growth trajectory of 30.1% among other regions.
  • The United States dominates the North American electric vehicle reducer market with a share of9.3%. This proportion is due to rising demand for electric vehicles in the United States.
  • Concerning product type, the multi-stage type will continue to dominate the global electric car reducer market with a share of 68.4%.
  • China is the world's largest electric vehicle market, accounting for nearly half, or 45%, of global electric vehicle sales and 1.8 million electric vehicles on road.
  • The UK government approved 200 electric buses in 2020 with the goal of making all buses totally electric by 2025, which may reduce CO2 emissions by roughly 7,400 tonnes annually.
  • MG Motors India launched the fourth edition of their Developer Programme and Grant (MGDP) as the country strives to generate 50% of its installed electricity capacity from non-fossil sources by 2030.

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Competitive Landscape

Due to the presence of a large number of market players, the global electric vehicle reducer market is consolidated with high competition. Existing players are heavily focused on innovation and the development of new components and technology in order to overcome disadvantages and strengthen their positions in the global market. Some market participants are also investing in EV startups to expand their regional presence.

  • BorgWarner Inc.
  • Robert Bosch GmbH
  • ZF Friedrichshafen AG
  • GKN
  • GETRAG FORD Transmission GmbH
  • AVL GmbH
  • HOTA Industrial
  • Tsingshan Industry
  • Aichi Machine Industry
  • Magna International
  • SAGW
  • Zhuzhou Gear

Latest Developments in the Electric Vehicle Reducer Market

  • September 2023 - ZF Friedrichshafen AG (ZF) announced the production of its first 800V electric drive axle in Hangzhou's Xiaoshan District. The development process was led by a local team from ZF's Electrified Powertrain Technology division in Shanghai. ZF invested approximately $300 million in its Hangzhou manufacturing facility.
  • On August 10, BorgWarner announced that Hyundai Motor Company (HMC) had chosen its iDM146 integrated drive module (iDM) to power an additional A-Segment electric vehicle platform, with production set to begin in Q3 2024.

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Key Segments Covered in the Electric Vehicle Reducer Market Report

Product Type:

  • Single-stage Type
  • Multi-stage Type

Vehicle Type:

  • Battery Electric Vehicles (BEVs)
  • Plug-In Hybrid Electric Vehicles (PHEVs)
  • Hybrid Electric Vehicles (HEVs)
  • Fuel Cell Electric Vehicle

Sales Channel:

  • Original Equipment Manufacturer (OEM)
  • Aftermarket


  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East & Africa (MEA)

Table of Content

1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations

2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
Enquiries: [email protected]

SOURCE: Future Market Insights, Inc.

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