Vehicle Electrification Market Research Report – Forecast to 2030

Vehicle Electrification Market Research Report: Information by Product (Start/Stop System, EPS, Actuators, Starter Motor & Alternator, Electric Vacuum Pump, Integrated Starter Generator, Others), Voltage, Vehicle, Sales Channel – Forecast till 2030

ID: MRFR/AM/1511-HCR | September 2022 | Region: Global | 135 Pages         

Table of Contents

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Threat of substitutes

3.1.4 Segment rivalry

3.1.5 Bargaining Power of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Vehicle Electrification Market, By Product

5.1 Introduction

5.2 Start/Stop System

5.2.1 Market Estimates & Forecast, 2020-2027

5.2.2 Market Estimates & Forecast by Region, 2020-2027

5.3 EPS

5.3.1 Market Estimates & Forecast, 2020-2027

5.3.2 Market Estimates & Forecast by Region, 2020-2027

5.4 Actuators

5.4.1 Market Estimates & Forecast, 2020-2027

5.4.2 Market Estimates & Forecast by Region, 2020-2027

5.5 Starter Motor & Alternator

5.5.1 Market Estimates & Forecast, 2020-2027

5.5.2 Market Estimates & Forecast by Region, 2020-2027

5.6 Electric Vacuum Pump

5.6.1 Market Estimates & Forecast, 2020-2027

5.6.2 Market Estimates & Forecast by Region, 2020-2027

5.7 Integrated Starter Generator

5.7.1 Market Estimates & Forecast, 2020-2027

5.7.2 Market Estimates & Forecast by Region, 2020-2027

5.8 Others

5.8.1 Market Estimates & Forecast, 2020-2027

5.8.2 Market Estimates & Forecast by Region, 2020-2027

6 Global Vehicle Electrification Market, By Voltage

6.1 Introduction

6.2 12V

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast by Region, 2020-2027

6.3 14V

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast by Region, 2020-2027

6.4 24V

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast by Region, 2020-2027

6.5 48V

6.5.1 Market Estimates & Forecast, 2020-2027

6.5.2 Market Estimates & Forecast by Region, 2020-2027

7 Global Vehicle Electrification Market, By Sales Channel

7.1 Introduction

7.2 OEM

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Aftermarket

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

8 Global Vehicle Electrification Market, By Vehicle Type

8.1 Introduction

8.2 ICE & micro-hybrid

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 HEV

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

8.4 PHEV

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Region, 2020-2027

8.5 BEV

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast by Region, 2020-2027

9 Global Vehicle Electrification Market, By Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Product, 2020-2027

9.2.3 Market Estimates & Forecast by Voltage, 2020-2027

9.2.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.2.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.2.6 U.S.

9.2.6.1 Market Estimates & Forecast, 2020-2027

9.2.6.2 Market Estimates & Forecast by Product, 2020-2027

9.2.6.3 Market Estimates & Forecast by Voltage, 2020-2027

9.2.6.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.2.6.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.2.7 Canada

9.2.7.1 Market Estimates & Forecast, 2020-2027

9.2.7.2 Market Estimates & Forecast by Product, 2020-2027

9.2.7.3 Market Estimates & Forecast by Voltage, 2020-2027

9.2.7.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.2.7.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.3 Europe

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Product, 2020-2027

9.3.3 Market Estimates & Forecast by Voltage, 2020-2027

9.3.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.3.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.3.6 U.K.

9.3.6.1 Market Estimates & Forecast, 2020-2027

9.3.6.2 Market Estimates & Forecast by Product, 2020-2027

9.3.6.3 Market Estimates & Forecast by Voltage, 2020-2027

9.2.6.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.2.6.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.3.7 Germany

9.3.7.1 Market Estimates & Forecast, 2020-2027

9.3.7.2 Market Estimates & Forecast by Product, 2020-2027

9.3.7.3 Market Estimates & Forecast by Voltage, 2020-2027

9.3.7.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.3.7.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.3.8 France

9.3.8.1 Market Estimates & Forecast, 2020-2027

9.3.8.2 Market Estimates & Forecast by Product, 2020-2027

9.3.8.3 Market Estimates & Forecast by Voltage, 2020-2027

9.3.8.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.3.8.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.3.9 Italy

9.3.9.1 Market Estimates & Forecast, 2020-2027

9.3.9.2 Market Estimates & Forecast by Product, 2020-2027

9.3.9.3 Market Estimates & Forecast by Voltage, 2020-2027

9.3.9.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.3.9.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.3.10 Rest of Europe

9.3.10.1 Market Estimates & Forecast, 2020-2027

9.3.10.2 Market Estimates & Forecast by Product, 2020-2027

9.3.10.3 Market Estimates & Forecast by Voltage, 2020-2027

9.3.10.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.3.10.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Product, 2020-2027

9.4.3 Market Estimates & Forecast by Voltage, 2020-2027

9.4.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.4.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.4.6 China

9.4.6.1 Market Estimates & Forecast, 2020-2027

9.4.6.2 Market Estimates & Forecast by Product, 2020-2027

9.4.6.3 Market Estimates & Forecast by Voltage, 2020-2027

9.4.6.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.4.6.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.4.7 Japan

9.4.7.1 Market Estimates & Forecast, 2020-2027

9.4.7.2 Market Estimates & Forecast by Product, 2020-2027

9.4.7.3 Market Estimates & Forecast by Voltage, 2020-2027

9.4.7.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.4.7.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.4.8 India

9.4.8.1 Market Estimates & Forecast, 2020-2027

9.4.8.2 Market Estimates & Forecast by Product, 2020-2027

9.4.8.3 Market Estimates & Forecast by Voltage, 2020-2027

9.4.8.4 Market Estimates & Forecast by Sales Channel 2020-2027

9.4.8.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.4.9 Rest of Asia Pacific

9.4.9.1 Market Estimates & Forecast, 2020-2027

9.4.9.2 Market Estimates & Forecast by Product, 2020-2027

9.4.9.3 Market Estimates & Forecast by Voltage, 2020-2027

9.4.9.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.4.9.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

9.5 Rest of the World

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast by Product, 2020-2027

9.5.3 Market Estimates & Forecast by Voltage, 2020-2027

9.5.4 Market Estimates & Forecast by Sales Channel, 2020-2027

9.5.5 Market Estimates & Forecast by Vehicle Type, 2020-2027

10 Competitive Landscape

11 Company Profile

11.1 Robert Bosch GmbH (Germany)

11.1.1 Company Overview

11.1.2 Products/Services Offering

11.1.3 Financial Overview

11.1.4 Key Developments

11.1.5 Strategy

11.1.6 SWOT Analysis

11.2 Continental AG (Germany)

11.2.1 Company Overview

11.2.2 Products/Services Offering

11.2.3 Financial Overview

11.2.4 Key Developments

11.2.5 Strategy

11.2.6 SWOT Analysis

11.3 ZF Friedrichshafen AG (Germany)

11.3.1 Company Overview

11.3.2 Products/Services Offering

11.3.3 Financial Overview

11.3.4 Key Developments

11.3.5 Strategy

11.3.6 SWOT Analysis

11.4 Denso Corporation (Japan)

11.4.1 Company Overview

11.4.2 Products/Services Offering

11.4.3 Financial Overview

11.4.4 Key Developments

11.4.5 Strategy

11.4.6 SWOT Analysis

11.5 JTEKT Corporation (Japan)

11.5.1 Company Overview

11.5.2 Products/Services Offering

11.5.3 Financial Overview

11.5.4 Key Developments

11.5.5 Strategy

11.5.6 SWOT Analysis

11.6 Nexteer Automotive (U.S.)

11.6.1 Company Overview

11.6.2 Products/Services Offering

11.6.3 Financial Overview

11.6.4 Key Developments

11.6.5 Strategy

11.6.6 SWOT Analysis

11.7 Mitsubishi Electric Corporation (Japan)

11.7.1 Company Overview

11.7.2 Products/Services Offering

11.7.3 Financial Overview

11.7.4 Key Developments

11.7.5 Strategy

11.7.6 SWOT Analysis

11.8 Mando Corp. (South Korea)

11.8.1 Company Overview

11.8.2 Products/Services Offering

11.8.3 Financial Overview

11.8.4 Key Developments

11.8.5 Strategy

11.8.6 SWOT Analysis

11.9 Borgwarner Inc. (U.S.)

11.9.1 Company Overview

11.9.2 Products/Services Offering

11.9.3 Financial Overview

11.9.4 Key Developments

11.9.5 Strategy

11.9.6 SWOT Analysis

11.10 Delphi Automotive PLC (U.K.)

11.10.1 Company Overview

11.10.2 Products/Services Offering

11.10.3 Financial Overview

11.10.4 Key Developments

11.10.5 Strategy

11.10.6 SWOT Analysis

11.11 Johnson Electric (Hong Kong)

11.11.1 Company Overview

11.11.2 Products/Services Offering

11.11.3 Financial Overview

11.11.4 Key Developments

11.11.5 Strategy

11.11.6 SWOT Analysis

11.12 Hitachi Automotive Systems, Ltd. (Japan)

11.12.1 Company Overview

11.12.2 Products/Services Offering

11.12.3 Financial Overview

11.12.4 Key Developments

11.12.5 Strategy

11.12.6 SWOT Analysis


List of Tables

Table 1 Global Vehicle Electrification Market: By Region, 2020-2027

Table 2 North America Vehicle Electrification Market: By Country, 2020-2027

Table 3 Europe Vehicle Electrification Market: By Country, 2020-2027

Table 4 Asia Pacific Vehicle Electrification Market: By Country, 2020-2027

Table 5 RoW Vehicle Electrification Market: By Country, 2020-2027

Table 6 Global Vehicle Electrification Market, By Product, By Regions, 2020-2027

Table 7 North America Vehicle Electrification Market, By Product, By Country, 2020-2027

Table 8 Europe Vehicle Electrification Market, By Product, By Country, 2020-2027

Table 9 Asia Pacific Vehicle Electrification Market by Product, By Country, 2020-2027

Table 10 RoW Vehicle Electrification Market by Product, By Country, 2020-2027

Table 11 Global Vehicle Electrification by Voltage Market: By Regions, 2020-2027

Table 12 North America Vehicle Electrification Market by Voltage: By Country, 2020-2027

Table 13 Europe Vehicle Electrification Market by Voltage: By Country, 2020-2027

Table 14 Asia Pacific Vehicle Electrification Market by Voltage: By Country, 2020-2027

Table 15 RoW Vehicle Electrification Market by Voltage: By Country, 2020-2027

Table 16 Global Vehicle Electrification by Sales Channel Market: By Regions, 2020-2027

Table 17 North America Vehicle Electrification Market by Sales Channel: By Country, 2020-2027

Table 18 Europe Vehicle Electrification Market by Sales Channel: By Country, 2020-2027

Table 19 Asia Pacific Vehicle Electrification Market by Sales Channel: By Country, 2020-2027

Table 20 RoW Vehicle Electrification Market by Sales Channel: By Country, 2020-2027

Table 21 Global Vehicle Electrification by Vehicle Type Market: By Regions, 2020-2027

Table 22 North America Vehicle Electrification Market by Vehicle Type: By Country, 2020-2027

Table 23 Europe Vehicle Electrification Market by Vehicle Type: By Country, 2020-2027

Table 24 Asia Pacific Vehicle Electrification Market by Vehicle Type: By Country, 2020-2027

Table 25 RoW Vehicle Electrification Market by Vehicle Type: By Country, 2020-2027

Table 26 Global Vehicle Electrification Market: By Region, 2020-2027

Table 27 Global Vehicle Electrification Market: By Product, 2020-2027

Table 18 Global Vehicle Electrification Market: By Voltage, 2020-2027

Table 27 Global Vehicle Electrification Market: By Sales Channel, 2020-2027

Table 18 Global Vehicle Electrification Market: By Vehicle Type, 2020-2027

Table 19 North America Vehicle Electrification Market, By Country

Table 20 North America Vehicle Electrification Market, By Product

Table 21 North America Vehicle Electrification Market, By Voltage

Table 20 North America Vehicle Electrification Market, By Sales Channel

Table 21 North America Vehicle Electrification Market, By Vehicle Type

Table 22 Europe: Vehicle Electrification Market, By Country

Table 23 Europe: Vehicle Electrification Market, By Product

Table 24 Europe: Vehicle Electrification Market, By Voltage

Table 25 Europe: Vehicle Electrification Market, By Sales Channel

Table 26 Europe: Vehicle Electrification Market, By Vehicle Type

Table 27 Asia Pacific: Vehicle Electrification Market, By Country

Table 28 Asia Pacific: Vehicle Electrification Market, By Product

Table 29 Asia Pacific: Vehicle Electrification Market, By Voltage

Table 30 Asia Pacific: Vehicle Electrification Market, By Sales Channel

Table 31 Asia Pacific: Vehicle Electrification Market, By Vehicle Type

Table 32 RoW: Vehicle Electrification Market, By Region

Table 33 RoW Vehicle Electrification Market, By Product

Table 34 RoW Vehicle Electrification Market, By Voltage

Table 35 RoW Vehicle Electrification Market, By Sales Channel

Table 36 RoW Vehicle Electrification Market, By Vehicle Type


List of Figures

FIGURE 1 Research Process of MRFR

FIGURE 2 Top down & Bottom up Approach

FIGURE 3 Market Dynamics

FIGURE 4 impact analysis: market drivers

FIGURE 5 impact analysis: market restraints

FIGURE 6 porter’s five forces analysis

FIGURE 7 Value chain analysis

FIGURE 8 Global Vehicle Electrification Market SHARE, By Product, 2020 (%)

FIGURE 9 Global Vehicle Electrification Market, By Product, 2020-2027 (USD MILLION)

FIGURE 10 Global Vehicle Electrification Market SHARE, By Voltage, 2020 (%)

FIGURE 11 Global Vehicle Electrification Market, By Voltage, 2020-2027 (USD MILLION)

FIGURE 12 Global Vehicle Electrification Market SHARE, By Sales Channel, 2020 (%)

FIGURE 13 Global Vehicle Electrification Market, By Sales Channel, 2020-2027 (USD MILLION)

FIGURE 14 Global Vehicle Electrification Market SHARE, By Vehicle Type, 2020 (%)

FIGURE 15 Global Vehicle Electrification Market, By Vehicle Type, 2020-2027 (USD MILLION

FIGURE 16 Global Vehicle Electrification Market SHARE (%), BY REGION, 2020

FIGURE 17 Global Vehicle Electrification Market, BY REGION, 2020-2027 (USD MILLION)

FIGURE 18 North America Vehicle Electrification Market SHARE (%), 2020

FIGURE 19 North America Vehicle Electrification Market BY Country, 2020-2027 (USD MILLION)

FIGURE 20 Europe Vehicle Electrification Market SHARE (%), 2020

FIGURE 21 Europe Vehicle Electrification Market BY Country, 2020-2027 (USD MILLION)

FIGURE 22 Asia Pacific Vehicle Electrification Market SHARE (%), 2020

FIGURE 23 Asia Pacific Vehicle Electrification Market BY Country, 2020-2027 (USD MILLION)

FIGURE 24 Rest of the World Vehicle Electrification Market SHARE (%), 2020

FIGURE 25 Rest of the World Vehicle Electrification Market BY Country, 2020-2027 (USD MILLION)


Vehicle Electrification Market

The Vehicle Electrification Market is anticipated to grow at a lucrative rate of 12.52%. It is estimated that the market value will further increase up to USD 250 Billion during the studied forecast period 2022-2030.

Segmentation

Based on Voltage 14 V 12 V 48 V 24 V
Based on product type Electric Power Steering (Eps) Integrated Starter Generator (Isg) Stop/Start System Liquid Heater Ptc Electric Oil Pump Electric Vacuum Pump Starter Motor
Based on the degree of hybridization Internal Combustion Engine (Ice) & Micro Hybrid Vehicle Battery Electric Vehicle ((Bev) Plug In Hybrid Electric Vehicle (Phev) 48 Mild Hybrid Market

Key Players

  • Robert Bosch GmbH (Germany)
  • Continental AG (Germany)
  • ZF Friedrichshafen AG (Germany)
  • Denso Corporation (Japan)
  • JTEKT Corporation (Japan)
  • Nexteer Automotive (U.S.)
  • and Mitsubishi Electric Corporation (Japan). Mando Corp. (South Korea)
  • Borgwarner Inc. (U.S.)
  • Delphi Automotive PLC (U.K.)
  • Johnson Electric (Hong Kong)

Drivers

  • New intelligent transport systems
  • Growing demand for electric vehicles
  • Strict government regulations coupled
  • Eco-friendly vehicles
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Vehicle Electrification Market Overview


The Vehicle Electrification Market is anticipated to grow at a lucrative rate of 12.52%. It is estimated that the market value will further increase up to USD 250 Billion during the studied forecast period 2022-2028. Therefore, the market will boom at a significant rate in the upcoming years. Electric vehicles help in saving energy as well as the reduce pollution. Along with that, it can help improve the performance of the vehicles significantly. Hence, the demand for vehicle electrification will rise in the forthcoming years.


The governments of several countries are also adopting several policies to adopt electric vehicles. Also, the key players are announcing major partnerships, acquisitions, and mergers with each other. Hence, the Vehicle Electrification Market Revenue will flourish by the end of the studied forecast period.


COVID-19 Analysis


The COVID-19 disease heavily impacted the automobile sector. The car sales recorded a drop of around 15% during the year 2020 worldwide. Along with that, the demand for cars declined abruptly and resulted in a temporary shutdown of production lines. Also, the restriction on transit during the lockdowns affected the supply chain. However, now, the automobile sector is showing rapid and impressive growth gradually.


Market Dynamics


Drivers


The simultaneous increase in energy crisis and pollution levels are the major reason for the rising demand. Also, the environmental concerns by governments to adopt electric vehicles will further drive the Vehicle Electrification Market Growth.


Restraints


The high costs for electrical systems can cause significant restraint in the Vehicle Electrification Market. Also, the need for charging the vehicles for long hours will further restrain the market growth.


Opportunities


Furthermore, the rising demand for public transportation due to the increasing population will offer new opportunities. Also, electric vehicles can reduce carbon footprint which will be beneficial for the Vehicle Electrification Market Growth.


Challenges


Several risks such as shortage of battery life, low availability of charging points can be challenging to overcome.


Cumulative Growth Analysis


The Compound Annual Growth Rate (CAGR) of the Vehicle Electrification Market is estimated to reach around 12.52%. Also, the market value will rise up to USD 250 Billion in the studied forecast period 2022-2030. Hence, significant drivers and key players will have a positive impact on the market growth.


Value Chain Analysis


Thus, it is evident that electric vehicles will eventually emerge as a necessity. Also, the growing concerns to reduce the carbon footprint will increase the value of electrical vehicles. Along with that, the key players are also promoting the production of electric vehicles which will have a positive impact on the value chain.


Segment Overview


The Vehicle Electrification Market segments are divided into Sales Channel, Voltage, Product Type, Degree of Hybridization. Based on the Sales Channel, the market is divided into Aftermarket and OEM.


Based on Voltage, the Vehicle Electrification Market is again segmented into 14 V, 12 V, 48 V, and 24 V.


Based on product type, the Vehicle Electrification Market is divided into Electric Power Steering (EPS), Integrated Starter Generator (ISG), Stop/Start System, Liquid Heater PTC, Electric Oil Pump, Electric Vacuum Pump, Starter Motor, Electric Air-Conditioner Compressor, Actuator, and Alternator.


Based on the degree of hybridization, the Vehicle Electrification Market is again divided into 48 V, Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle, Battery Electric Vehicle ((BEV), Plug-In Hybrid Electric Vehicle (PHEV), and 48 Mild-Hybrid Market.


Regional Analysis


Based on region, the Vehicle Electrification Market Size is segmented into Asia-Pacific, North America, Europe, and the rest of the world. Asia-Pacific region is evaluated to hold the largest market share in the studied forecast period. Due to the high presence of several key players and supportive policies by the government to use electric vehicles, the demand for EVs is rising. Also, economical as well as technological advancements will further improve the growth.


Moreover, North America will hold the second-largest share in the Vehicle Electrification Market Revenue. Availability of better infrastructure and high demand for electric vehicles are providing a major boost to the market.


Also, Europe will further have significant Vehicle Electrification Market Growth in the upcoming years. The need for effective transportation and eco-friendly vehicles will have a positive impact on the market. Furthermore, the countries in Africa and the Middle East region will also have substantial growth.


Competitive Landscape


The Vehicle Electrification Market Size is fragmented with many key players. These key players play a significant role in improving market growth. They do mergers, partnerships, market analysis, acquisitions, collaborations, to enhance their business portfolio. Hence, they are also helpful in expanding the Vehicle Electrification Market Revenue significantly. However, some of the key players in the Vehicle Electrification Industry are as follows.



  • Johnson Electric (Hong Kong)

  • JTKET Corporation (Japan)

  • Hitachi Automotive Systems Ltd. (Japan)

  • Mando Corp. (South Korea)

  • Nexteer Automotive (US)

  • Borgwarner Inc. (US)

  • Hitachi Automotive Systems Ltd. (Japan)

  • ZE Friedrichshafen AG (Germany)

  • Robert Bosch GmbH (Germany)

  • Denso Corporation (Japan)

  • Continental AG (Germany)

  • Mitsubishi Electric Corporation (Japan)

  • Delfi Automotive PLC (UK)

  • Magna International Inc. (Canada)


Recent Developments



  • GM in 2021 announced the release of its new electric utility vehicle called 2022 Chevrolet Bolt EUV.



  • XL Fleet Corp in 2021 partnered with a company called ARBOC Specialty Vehicles LLC, which is the subsidiary of the NFI group Inc. This partnership will help in electrifying the low floor buses of ARBOC with the system of XL hybrid electric.



  • Taylor Machine Works in 2021 which is a prominent leader for the electrification of commercial vehicles partnered with a company called Proterra Inc.

  • Ford, in 2021 acquired Electriphi which is the software for fleet monitoring and charging management.


Report Overview


The report overview of the Vehicle Electrification Industry is as follows.



  • Market Overview

  • COVID-19 Analysis

  • Dynamics of the Market

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Analysis

  • Recent Development


Report Score and Segmentation



  • Study Period- 2022-2030

  • Base Year- 2021

  • Forecast Period- 2022-2030

  • Historical Period- 2020-2021


The report score provides information about the Vehicle Electrification industry. It contains valuable insights such as CAGR, regional analysis, challenges and market segments, etc. Furthermore, the information provided in this report is gathered from several secondary and primary sources.


Segmentation


By Sales Channel


  • Aftermarket

  • OEM


By Voltage


  • 14 V

  • 12 V

  • 48 V

  • 24 V


By Product Type


  • Electric Power Steering (EPS)

  • Integrated Starter Generator (ISG)

  • Stop/Start System

  • Liquid Heater PTC

  • Electric Oil Pump

  • Electric Vacuum Pump

  • Starter Motor

  • Electric Air-Conditioner Compressor

  • Actuator

  • Alternator


By Degree of Hybridization


  • 48 V

  • Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle

  • Battery Electric Vehicle ((BEV)

  • Plug-In Hybrid Electric Vehicle (PHEV)

  • 48 Mild-Hybrid Market


By Region


  • Asia-Pacific

  • Europe

  • North America

  • Rest of the World



Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : USD 144.65 Billion
  CAGR   12.52% CAGR (2020-2030)
  Base Year   2019
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Product, Voltage, Vehicle, Sales Channel
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), JTEKT Corporation (Japan) ,Nexteer Automotive (U.S.), and Mitsubishi Electric Corporation (Japan). Mando Corp. (South Korea), Borgwarner Inc. (U.S.), Delphi Automotive PLC (U.K.), Johnson Electric (Hong Kong), and Hitachi Automotive Systems, Ltd. (Japan)
  Key Market Opportunities   New intelligent transport systems
  Key Market Drivers

  • Growing demand for electric vehicles
  • Strict government regulations coupled
  • Eco-friendly vehicles


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    Frequently Asked Questions (FAQ) :

    The Vehicle Electrification Market is expected to flourish at a significant CAGR of 12.52% during the studied forecast period.

    The Vehicle Electrification Market Value is evaluated to increase up to USD 250 Billion by the studied forecast period.

    The key players of the Vehicle Electrification Market are Johnson Electric (Hong Kong), JTKET Corporation (Japan), Hitachi Automotive Systems Ltd. (Japan), Mando Corp. (South Korea), Nexteer Automotive (US), Borgwarner Inc. (US), Hitachi Automotive Systems Ltd. (Japan), ZE Friedrichshafen AG (Germany), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Continental AG (Germany), Mitsubishi Electric Corporation (Japan), Delfi Automotive PLC (UK), Magna International Inc. (Canada) and others.

    It is evaluated that the Asia-Pacific region will experience the fastest as well as the largest growth. Also, the favorable policies by the government for tax exemption and adopting e-vehicles are boosting the market.