Vehicle Electrification Market

Vehicle Electrification - Global Market Outlook (2020-2028)

4.6 (92 reviews)
Published: April 2021 ID: SMRC20387
4.6 (92 reviews)
Published: April 2021 ID: SMRC20387

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Vehicle Electrification Market is accounted for $73.87 billion in 2020 and is expected to reach $209.24 billion by 2028 growing at a CAGR of 13.9% during the forecast period. Rising need for 48V architecture, adoption of advanced technologies such as e-axle in electric vehicles and upsurge in automotive production are driving the market growth. However, higher cost of electric systems is hampering the growth of the market.

Vehicle Electrification refers to a vehicle with electrical means of propulsion as well as electricity paying a major role in components functionality. It covers many aspects of electrification in the such as start/stop systems, electric power steering, electric vacuum pump, electric oil pump, and many other accessories which utilize mode of electric propulsion as well as help user to gain improved fuel economy when installing in conventional ICE vehicles.

Based on the product type, the electric power steering (EPS) segment is going to have lucrative growth during the forecast period. EPS reduces fuel consumption and improves the maneuverability of vehicles. In Europe and North America, almost all the vehicle has EPS, and in Asia Oceania, the trend is growing rapidly. In Asia Oceania, installation rate of EPS is almost 90%. By geography, North America is going to have high growth during the forecast period due to charging infrastructure and significant investments by OEMs in the development of vehicle electrification.

Some of the key players profiled in the Vehicle Electrification Market include Aisin Seiki Co. Ltd., Borgwarner Inc., Continental Ag, Delphi Automotive Plc, Denso Corporation, Hitachi Automotive Systems Ltd., Johnson Controls Inc., Johnson Electric, Jtekt Corporation, Magna International Inc., Mitsubishi Electric Corporation, Robert Bosch Gmbh, Valeo Sa, Wabco Holdings Inc. and Zf Friedrichshafen Ag.

Voltages Covered:
• 12V
• 14V
• 24V
• 48V

Degree of Hybridizations Covered:
• Battery Electric Vehicle (BEV)
• Fuel Cell Electric Vehicle (FCEV)
• Hybrid Electric Vehicle (HEV)
• Internal Combustion Engine (ICE)
• Micro & Full Hybrid Vehicle
• Plug-In Hybrid Electric Vehicle (PHEV)  

Vehicle Types Covered:
• Passenger Car
• Commercial Vehicle
• Buses & Coaches
• Two-Wheeler 
• Truck

Product Types Covered:
• Actuator
• Alternator
• Carbon Dioxide
• Electric Air-Conditioner Compressor
• Electric Car Motor
• Electric Fuel Pump
• Electric Oil Pump
• Electric Power Steering (EPS)
• Electric Turbocharger
• Electric Vacuum Pump
• Electric Water Pump
• Integrated Starter Generator (ISG)
• Liquid Heater Positive Temperature Coefficient (PTC)
• Start/Stop System
• Starter Motor
• Thermoelectric Generator

Sales Channels Covered:
• Original Equipment Manufacturers (OEMs)
• Aftermarket

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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