Conventional internal combustion engines featuring mechanical linkages were characterized by significant loss of efficiency, owing to its friction and high energy requirement. Electric components that prominently include the electric power steering, positive temperature coefficient liquid heater, air compressor, vacuum, pumps, starter generators, and actuators among others, enhance the automotive fuel efficiency, add to the users comfort, and also reduce the environmental impacts of the carbon emissions from these automotive. Advent of electric vehicles with better battery backup and optimum driving speeds has in turn fueled the demand for the vehicle electrification market for environment friendly automotive industry over the near future.
Market Dynamics
Requirement to improve automotive fuel economy, reduce carbon footprint, need to enhance driver awareness regarding the safety in conjunction with the added comfort and compliance with the regional regulations is expected to be among the prominent factors driving the market growth. Moreover, feature enhancements that include less space requirements, highly sensitive outputs, and robust performance with relatively better durability also adds to the consumer motivation for the adoption of these systems. For instance, hydraulic power steering systems are more complicated, weight more, require regular maintenance of hydraulic fluids, and are more prone to faults in relation to electrical power steering (EPS) system. EPS system also offer better sensitive response at distinct speeds and consume less power, adding to the mileage of the automotive. However, high cost of the electronic and electric components are expected to be the major factors hampering the global vehicle electrification market growth.
Key features of the study:
- This report provides an in-depth analysis of global vehicle electrification market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2022 to 2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading market players
- It profiles leading players in the global vehicle electrification market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
- Companies covered as a part of this study 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
- Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
- The global vehicle electrification market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vehicle electrification market
Detailed Segmentation
- Global Vehicle Electrification Market, By Product Type:
- Start/Stop System
- Electric Power Steering (EPS)
- Liquid Heater PTC
- Electric Air Conditioner Compressor
- Electric Vacuum Pump
- Electric Oil Pump
- Electric Water Pump
- Starter Motor & Alternator
- Integrated Starter Generator (ISG)
- Actuators
- Global Vehicle Electrification Market, By Degree of Hybridization:
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
- Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)
- Global Vehicle Electrification Market, By Region
- North America
- Europe
- By Country:
- Germany
- Italy
- U.K.
- France
- Russia
- Rest of Europe
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East and Africa
- By Country/Region:
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- Company Profiles
- Aisin Seiki Co. Ltd.*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/ Updates
- 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.
- ZF Friedrichshafen AG
“*” marked represents similar segmentation in other categories in the respective section.
Table of Content - Vehicle Electrification Market
