Electric Vehicles Speed Reducer: Introduction
- Speed reducer is a gear train between the motor and the machinery that is used to reduce the speed with which power is transmitted
- Speed reducers are utilized to reduce the speed of electric motor safely and efficiently in electric vehicles. They adjust the motor’s speed in order to provide torque needed by the wheels to rotate properly.
Key Drivers of Global Electric Vehicle Speed Reducer Market:
- Rising demand for electric vehicles in several countries across Asia Pacific and North America including India and China, is likely to drive the demand for electric vehicles speed reducers significantly. North America is expected to hold a prominent share of the global market during the forecast period.
- Several key players manufacturing electric vehicles and components, such as differential gear box, shafts, reducer housing, are increasing investments in developing countries across Asia Pacific
- Use of high efficiency speed reducers can achieve significant saving in energy and drive the component cost. Furthermore, utilization of high efficiency reducer, such as gear reducers, can reduce the motor power consumption significantly. This, in turn, is likely to boost the demand for electric vehicle speed reducer across the globe.
Electric Vehicle Speed Reducer Market to Offer Significant Opportunities:
- Governments across the globe are focused on reducing greenhouse gas emissions from the automotive sector. Therefore, manufacturers of electric vehicle components are boosting investment in the production of electric vehicle components, which is likely to propel the electric vehicle speed reducer across the globe.
- Expansion of electric vehicles market is also expected to offer significant opportunity for EV component manufacturers of electric vehicle speed reducer during the forecast period
Regular Replacement of Motor Gear due to Friction to Hamper OEM Segment
- Components of the speed reducers, including motor gear, experience significant wear of surfaces that are subjected to friction. This results in low performance of the gearbox stages in the motor, thereby leading to frequent replacement of components of speed reducer. This is likely to hamper the OEM segment of the market across the globe.
Asia Pacific to Hold Significant Share of Global Electric Vehicle Speed Reducer Market:
- China has the highest number of on-road electric vehicles in the world. Hence, the country likely to lead the electric vehicle speed reducer market. It is estimated that around 1.8 million electric vehicles are currently running on the roads in China. High preference for electric vehicles owing to their environment friendliness is likely to boost the demand for electric vehicles in China.
- The automotive industry in North America is expanding at a significant pace. Demand for electric vehicle for smaller interchange route is significantly high in the country. Availability of large consumer base and high preference as a mode of transportation, are key factors that are driving the electric vehicles market in the country at a rapid pace. Increase in number of electric vehicles is driving the demand for electric vehicles speed reducer across the globe.
Key Players Operating in Global Electric Vehicle Speed Reducer Market:
The global electric vehicle speed reducer market is consulted with top manufacturers across the global market. A few key players operating in the global electric vehicle speed reducer market are:
- BorgWarner Inc.
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- GETRAG FORD Transmission GmbH
- AVL GmbH
- HOTA Industrial
- Tsingshan Industry
- Aichi Machine Industry
- Magna International
- Zhuzhou Gear
Global Electric Vehicle Speed Reducer Market: Research Scope
Global Electric Vehicle Speed Reducer Market, by Type
Global Electric Vehicle Speed Reducer Market, by Application
- Electric Vehicles
- Plug- In Hybrid Electric Vehicles
Global Electric Vehicle Speed Reducer Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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