Automotive and Transportation

The vehicle electrification market is projected to grow at a CAGR 10.09% rate during the forecast period. Owing to various benefits offered by electrification such as decreased vehicle weight, lower emissions, increased fuel efficiency, improved driving comfort, and safety among, vehicle electrification would be the preferred option for OEMs in the near future.


Electric power steering is estimated to be the largest segment for the market. EPS reduces fuel consumption and improves the maneuverability of vehicles. In Europe and North America, almost all the vehicle has EPS, and in Asia Oceania, the trend is growing rapidly. In Asia Oceania, installation rate of EPS is almost 90%. Hence, the EPS segment is estimated to hold the largest market share during the forecast period.


Plug-in hybrid electric vehicle (PHEV) is estimated to witness the fastest growth. Automakers are seeing plug-in hybrids as a gateway to fully electric vehicles. Increasing charging infrastructure in China, the US, and European countries would be responsible for the shift from conventional ICE vehicles to PHEVs. OEMs of these regions are also investing significantly in vehicle electrification. This would also drive the demand for PHEVs.


North America is expected to be the fastest growing market for vehicle electrification. The growth in this region is propelled by growing charging infrastructure and significant investments by OEMs in the development of vehicle electrification. Federal tax credits and rebate incentives are accelerating the growth of market, especially in the US. The US is set to dominate the North American market, holding the highest market share in 2019. As the country has the presence of major OEMs and Tier I players, adoption of electric components in ICE vehicles, BEVs, HEVs, and PHEVs is very high. Hence, North America is expected to be the fastest growing market during the forecast period.


Key Market Players include Bosch (Germany), Continental (Germany), Denso (Japan), Delphi (UK), and Johnson Electrics (Hong Kong).


Key Questions Addressed by the Report

     

  • Which level of vehicle hybridization is going to dominate the market in the future?
  •  

  • How are industry players addressing the challenge of maintaining a balance between performance and low-cost electric components?
  •  

  • What could be the market size of vehicle electrification products?
  •  

  • Which electric components will lead the market for vehicle electrification in the near future?

1.Introduction


Market Definition


Study Scope


Study Period


Stakeholders


2. Research Methodology


Secondary Research


Primary Research


Research Design


Data Validation


Limitation and Assumptions


3. Executive Overview


4. Market Overview


Drivers


Restraints     


Opportunities


Challenges


5. Vehicle Electrification Market, By Degree of Hybridization


Hybrid Electric Vehicle (HEV)


Battery Electric Vehicle (BEV)


Internal Combustion Engine (ICE) & Micro Hybrid Vehicle


Plug-In Hybrid Electric Vehicle (PHEV)


48V Vehicle


6. Vehicle Electrification Market, By Product Type


Electric Power Steering


Electric Air Conditioner Compressor


Electric Oil Pump


Starter Motor


Integrated Starter Generator 


Start-Stop


Liquid Heater PTC


Electric Vacuum Pump


Electric Water Pump


Alternator


Actuator


7. Vehicle Electrification Market, By Vehicle Type


Passenger Car


Light Commercial Vehicle


8. Vehicle Electrification Market, By Region


North America


        US


        Canada


Europe


        UK


        Germany


        Spain


        France


        Turkey


        Rest of Europe


Asia Pacific


        China 


        Japan


        South Korea


        India 


        Australia


        Rest of APAC


Middle East


        UAE


        Saudi Arabia


        Rest of Middle East


Rest of the World


        Latin America


        Africa


9. Company Profiles


Continental


Delphi


Borgwarner


Magna


Johnson Controls


Bosch


Denso


Mitsubishi


Johnson Electric


Aisin Seiki


10. Appendix


About


Abbreviations

Segmentation

  • India
  • 150
  • company
Licence Option
  • Single 1500 USD
  • Multiple 3500 USD

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