The demand for vehicle electrification is increasingly gaining traction on account of several benefits such as lower emissions and reduced vehicle weights. In addition to this, strict environmental regulations and government initiatives are likely to support the growth of the vehicle electrification market in the coming years. North America is expected to the fastest-growing market with the rapid growth of charging infrastructure in the region.
The vehicle electrification market is expected to soar in the forecast period on account of major driving factors such as the increasing need for 48v architecture and development of newer technologies in electric vehicles. However, the higher cost may hinder the growth of the vehicle electrification market during the forecast period. On the other hand, a lucrative market opportunity for the key players lies in the electrification of commercial vehicles in the coming years.
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Some of the key players influencing the market are AISIN SEIKI Co., Ltd., BorgWarner Inc., Clarios (Brookfield Business Partners L.P.), Continental AG, Delphi Technologies, DENSO Corporation, Johnson Electric Holdings Limited, Magna International Inc., Mitsubishi Motors Corporation, Robert Bosch GmbH
The global vehicle electrification market is segmented on the basis of product, vehicle type, and degree of hybridization. Based on product, the market is segmented as electric pumps, electric power steering, liquid heater PTC, electric air conditioner compressor, actuator, alternator, and others. On the basis of the vehicle type, the market is segmented as passenger cars and light commercial vehicles (LCVs). The market on the basis of the degree of hybridization is classified as Hybrid Electric Vehicle (HEV), Battery Electric Vehicle (BEV), ICE & Micro Hybrid Vehicle, Plug-In Hybrid Electric Vehicle (PHEV), and 48 V Vehicle.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global vehicle electrification market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The vehicle electrification market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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The reports cover key developments in the vehicle electrification market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from vehicle electrification market are anticipated to lucrative growth opportunities in the future with the rising demand for vehicle electrification in the global market.
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global vehicle electrification Market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the vehicle electrification Market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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Contact: Sameer Joshi