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Automotive and Transportation Vehicle Electrification Market

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
  2. Market Definition
  3. Study Scope
  4. Study Period
  5. Market Stakeholders
  6. Research Methodology
  7. Secondary Research
  8. Primary Research
  9. Research Design
  10. Data Validation
  11. Limitations and Assumptions
  12. Market Dynamics
  13. Drivers
  14. Rising Need for 48v Architecture
  15. Adoption of Advanced Technologies Such as E-Axle in Electric Vehicles
  16. Challenges
  17. Developing Fail-Safe Electronic and Electrical Components
  18. High Cost of Hybrid and Plug-In Hybrid Vehicles
  19. Opportunities
  20. Use of Alternate Materials for Overall Weight Reduction to Open New Avenues in Electric Vehicle Technologies
  21. Electrification of Commercial Vehicles
  22. Executive Summary
  23. Industry Trends
  24. 48V Vehicles
  25. 48V Architecture
  26. 48V Mild Hybrid Market, By Region
  27. Impact of 48V Architecture
  28. Vehicle Electrification Market, By Product Type
  29. Start-Stop
  30. Electric Power Steering (EPS)
  31. Liquid Heater PTC
  32. Electric Air Conditioner Compressor
  33. Electric Vacuum Pump
  34. Electric Oil Pump
  35. Electric Water Pump
  36. Starter Motor
  37. Alternator
  38. Integrated Starter Generator (ISG)
  39. Actuator
  40. Vehicle Electrification Market, By Vehicle Type
  41. Passenger Car
  42. Light Commercial Vehicle (LCV)
  43. Vehicle Electrification Market, By Degree of Hybridization
  44. Internal Combustion Engine (ICE) & Micro Hybrid Vehicle
  45. Hybrid Electric Vehicle (HEV)
  46. Plug-In Hybrid Electric Vehicle (PHEV)
  47. Battery Electric Vehicle (BEV)
  48. 48V Vehicle
  49. Vehicle Electrification Market, By Region
  50. Asia Oceania
  51. China
  52. India
  53. Japan
  54. South Korea
  55. Rest of Asia Oceania
  56. Europe
  57. Germany
  58. France
  59. UK
  60. Spain
  61. Rest of Europe
  62. North America
  63. US
  64. Canada
  65. Mexico
  66. Rest of the World
  67. Brazil
  68. Russia
  69. RoW
  70. Company Profiles
  71. Bosch
  72. Continental
  73. Denso
  74. Delphi
  75. Mitsubishi
  76. Borgwarner
  77. Johnson Electric
  78. Magna
  79. Aisin Seiki
  80. Johnson Controls


*Company introduction, financial information, recent developments, SWOT analysis



  1. Conclusion and Recommendations
  2. Appendix
  3. About
  4. Related Reports
  5. Glossary



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