Global Vehicle Electrification Market, By Product Type (Start-Stop, EPS, Liquid Heater PTC, Electric Air Conditioner Compressor, Electric Vacuum Pump, Electric Oil Pump, Electric Water Pump, Thermoelectric Generator, Electric Turbocharger, Starter Motor, Alternator, ISG, Actuator), Voltage (12V, 14V, 24V, 48V), Vehicle Type (Passenger Car (PC), Two-Wheeler, Light-Commercial Vehicle (LCV) and Heavy Commercial Vehicle (HCV)), Degree of Hybridization (ICE and Micro Hybrid Vehicle, HEV, PHEV, BEV & FCEV, 48 V Vehicle), Channel Type (OEMs, Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Vehicle Electrification Market
The vehicle electrification market is expected to witness market growth at a rate of 11.6% in the forecast period of 2021 to 2028. Data Bridge Market Research report on vehicle electrification market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the demand for alternatives to petroleum-based fuels from the automotive industry is escalating the growth of vehicle electrification market.
Vehicle electrification is referred to a variety of technologies that utilizes electricity to boost a vehicle. Electric vehicles are designed in order to run on electricity, and the utilization of fossil fuels is decreased. Electric vehicles are also expected to assist in accomplishing the target of low carbon emissions from vehicles.
Major factors that are expected to boost the growth of the vehicle electrification market in the forecast period are the increase in the demand for 48V architecture and the acceptance of advanced technologies like e-axle in the electric vehicles. On the other hand, the struggle in achieving and maintaining an optimum power-to-weight ratio and rise in the price of electric systems are couple of factors that are derailing the growth of the vehicle electrification market in the timeline period.
In addition, the utilization of substitute materials for total weight decrease to open new avenues in the electric vehicle technologies and the electrification of commercial vehicles will further provide the advantageous opportunities for the growth of the vehicle electrification market in the coming years. However, the acquiring the fail-safe electronic and electrical components ad rise in the price of hybrid and plug-in hybrid vehicles might further create obstructions for the growth of the vehicle electrification market in the near future.
This vehicle electrification market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive vehicle electrification market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Vehicle Electrification Market Scope and Market Size
The vehicle electrification market is segmented on the basis of product type, voltage, vehicle type, degree of hybridization, channel type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the vehicle electrification market has been segmented into start-stop, EPS, liquid heater PTC, electric air conditioner compressor, electric vacuum pump, electric oil pump, electric water pump, thermoelectric generator, electric turbocharger, starter motor, alternator, ISG and actuator.
- On the basis of voltage, the vehicle electrification market has been segmented into 12V, 14V, 24V, 48V.
- On the basis of vehicle type, the vehicle electrification market has been segmented into passenger car (PC), two-wheeler, light-commercial vehicle (LCV) and heavy commercial vehicle (HCV).
- On the basis of degree of hybridization, the vehicle electrification market has been segmented into ICE and micro hybrid vehicle, hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), battery electric vehicle (BEV) and FCEV, 48 V Vehicle.
- On the basis of channel type, the vehicle electrification market has been segmented into OEMs and aftermarket.
Vehicle Electrification Market Country Level Analysis
The vehicle electrification market is analysed and market size, volume information is provided by country, product type, voltage, vehicle type, degree of hybridization, channel type as referenced above.
The countries covered in the vehicle electrification market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia Pacific dominates the vehicle electrification market due to the rise in the automotive industry in several countries the demand for vehicle enhances the growth for the industry. Furthermore, the increase in the population in the countries and the growing of the per capita income will further boost the growth of the vehicle electrification market in the region during the forecast period. Europe is projected to observe significant amount of growth in the vehicle electrification market due to the government is concentrated on practicing sustainable expansion in their infrastructure growth. Moreover, the forthcoming investment prospects because of the government support to the manufactures which is further anticipated to propel the growth of the vehicle electrification market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Vehicle Electrification Market Share Analysis
The vehicle electrification market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to vehicle electrification market.
The major players covered in the vehicle electrification market report are Ford Motor Company, Volkswagen AG, Continental AG, Robert Bosch GmbH, Magna International Inc., Westfalia-Automotive GmbH, TowGo, LLC, WABCO, Carit Automotive GmbH & Co. KG, Daimler AG., Valeo, Garmin Ltd., Cogent Embedded, Inc., DornerWorks, Ltd., Jaguar Land Rover Limited, POCLAIN HYDRAULICS, General Motors, BorgWarner Inc., DENSO CORPORATION, Johnson Electric Holdings Limited, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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