Market Insights:
The Vehicle Electrification Market was valued at USD 79.4 Bn in 2021, at CAGR of 10.3% during the forecast period (2022-2030), and the Market is projected to be worth USD 191.8 Bn by 2030.
Driver:
The increased adoption of Vehicle Electrification in the Communication Services industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Vehicle Electrification also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Vehicle Electrification in many sectors also boosts the market growth during the forecast period.
Vehicle electrification is gaining popularity as an alternative to traditional hydraulic and mechanical systems. Vehicle electrification improves fuel economy and lowers pollution levels. Because of the increasing trend of vehicle electrification, OEMs have seen substantial weight reduction of automotive components, which in turn reduces fuel consumption and improves vehicle operating efficiency.
Vehicle Electrification Market Research Report” was just released by Market Research Community. It is divided into several categories, including Product (Start/Stop System, Electric Power Steering, Liquid Heater Ptc, Electric Air Conditioner Compressor, Electric Vacuum Pump, Electric Oil Pump, Electric Water Pump, Starter Motor & Alternator, Integrated Starter Generator, Actuators), Hybridization (Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle, HEV, PHEV, BEV), Sales Channel (Original equipment manufacturers (oem), Aftermarket), and companies (Aisin seiki co., ltd., continental AG, Delphi Technologies, Hitachi Automotive Systems, Ltd, Robert Bosch GmbH, FRIEDRICHSHAFEN AG, Denso Corporation, BorgWarner Inc, Magna International Inc, Johnson Electric Holdings Limited), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 10.3%, over the forecast period of 2022–2030
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 191.8 Billion |
| CAGR (2022-2030) | 10.3% |
| By Product | Start/Stop System, Electric Power Steering, Liquid Heater Ptc, Electric Air Conditioner Compressor, Electric Vacuum Pump, Electric Oil Pump, Electric Water Pump, Starter Motor & Alternator, Integrated Starter Generator, Actuators |
| By Hybridization | Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle, HEV, PHEV, BEV |
| By Sales Channel | Original equipment manufacturers (oem), Aftermarket |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Aisin seiki co., ltd., continental AG, Delphi Technologies, Hitachi Automotive Systems, Ltd, Robert Bosch GmbH, FRIEDRICHSHAFEN AG, Denso Corporation, BorgWarner Inc, Magna International Inc, Johnson Electric Holdings Limited |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Vehicle Electrification market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Aisin seiki co., ltd., continental AG, Delphi Technologies, Hitachi Automotive Systems, Ltd, Robert Bosch GmbH, FRIEDRICHSHAFEN AG, Denso Corporation, BorgWarner Inc, Magna International Inc, Johnson Electric Holdings Limited
Market Segment Analysis:
By Product
- Start/Stop System
- Electric Power Steering
- Liquid Heater Ptc
- Electric Air Conditioner Compressor
- Electric Vacuum Pump
- Electric Oil Pump
- Electric Water Pump
- Starter Motor & Alternator
- Integrated Starter Generator
- Actuators
By Hybridization
- Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle
- HEV
- PHEV
- BEV
By Sales Channel
- Original equipment manufacturers (oem)
- Aftermarket
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Vehicle Electrification industries in the region.
Key Vehicle Electrification Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Vehicle Electrification Market segments.
– Largest Market Share Held by Industry to Industry for Vehicle Electrification
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Vehicle Electrification Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
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