Vehicle Electrification Market Size to Grow US$ 150.72 Billion By 2027

Precedence Research recently published a report on “Vehicle Electrification Market Size, Share and Growth Analysis By Product (Electric Power Steering (EPS), Integrated Starter Generator (ISG), Start/Stop System, Electric Air Conditioner Compressor, Liquid Heater Ptc, Electric Oil Pump, Electric Vacuum Pump, Starter Motor & Alternator, Electric Water Pump, and Actuators), By Hybridization (Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle, BEV, PHEV, and HEV) – Global Industry Analysis, Trends, Regional Outlook and Forecast 2020 – 2027”. Amid the COVID-19 crisis, the global vehicle electrification market size is projected to reach USD 150.72 billion by 2027, Growing at a CAGR of 8.9% during the forecast period 2020 – 2027.

The market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This research report evaluates vehicle electrification market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global vehicle electrification market for the period from 2016 to 2027. This research study offers historic data for years 2016 to 2027 along with a forecast from 2020 to 2027 based on value.

Vehicle electrification means a vehicle with electrical means of propulsion, in addition, function of components in those vehicles are driven by electrical energy. It covers different aspects of electrification in the vehicle such as electric power steering, start/stop systems, electric oil pump, electric vacuum pump, and many other accessories that utilizes electric propulsion mode as well as help consumers to experience improved fuel economy when installing in conventional ICE vehicles.

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Growth Factors

The concept of mild hybrids or 48V architecture is increasingly gaining traction across the globe that is consequently expected to fuel the demand for vehicle electrification in the coming years. Full hybrid vehicles offer higher fuel efficiency as compared to mild hybrid. As per the International Council on Clean Transportation, fuel consumption is reduced by 30-35% by the application of full hybrid vehicles. However, due to high cost and increased weight of the vehicle, mild hybrid vehicles are the preferred choice by Original Equipment Manufacturers (OEMs) and consumers.

On the other hand, difficulty in achieving an optimum power-to-weight ratio in an electric vehicle hinders the market growth. As the weight of the vehicle reduces consequently the power of vehicle improves, thus OEMs and Tier 1 companies are working significantly on implementation of light weight components and advanced products that improves the power-to-weight ratio.

Scope of the Study

This vehicle electrification market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

Report Highlights

• In 2019, the Asia Pacific captured the maximum revenue share in the global vehicle electrification market and experience attractive growth during the forecast period. High demand for vehicle supplements in China and India propels the market growth in the region. Further, rapid adoption of green transportation in Asian countries triggers the adoption of battery-powered vehicles such as BEV, HEV, and PHEV again contributes positively towards the market growth.
• Europe holds second largest position in the global vehicle electrification market in terms of revenue in the year 2019. The governments of France, Germany, UK, Italy, and other European countries focus on sustainable development in infrastructure growth, this offers significant opportunity for the market players to flourish their business.
• Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle dominated the global vehicle electrification market in the year 2019 and expected to witness a substantial growth in the coming years. However, Plug-in Hybrid Electric Vehicle (PHEV) registered the highest growth of nearly 16% over the analysis period.
• Electric Power Steering (EPS) witness high demand in 2019 and expected to grow at a significant rate during the forecast period. Extra comfort offered by the EPS system to the driver is the one of the potential driving factors that significantly boosts the market growth. On the other hand, electric oil pump exhibit the fastest growth over the forecast period.

Key Players:

This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the vehicle electrification market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the vehicle electrification market include:

• Continental
• Valeo
• Robert Bosch GmbH
• Denso
• Mitsubishi Electric Corporation
• Johnson Electric
• Delphi Automotive PLC

Regional Snapshots

The Asia Pacific expected to be the most promising region in the global vehicle electrification market and captured nearly 50% value share in 2019. In addition, the region experience attractive growth over the forecast period. Rising adoption of electrically-powered vehicles in Asian countries especially in China, Japan, India, and Korea attributed as the major factor that drives the market growth in the region. Furthermore, rising disposable income along with rising demand for green mode of transportation in the region significantly trigger the demand of vehicle electrification.

On the other side, Europe encountered to be the second largest revenue shareholder in the global vehicle electrification market in the year 2019. European government initiatives for encouraging people to adopt battery-powered or other types of electric vehicles such as Hybrid Electric Vehicle (HEV) and Plug-in Hybrid Electric Vehicle (PHEV) attributed as the prime factor that drives the market growth.

Segments Covered in the Report

This research study comprises complete valuation of the market revenue with the help of widespread quantitative and qualitative insights, and prognoses of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This report includes market division and its revenue assessment by categorizing it depending on product, hybridization, and region:

By Product

• Electric Power Steering (EPS)
• Integrated Starter Generator (ISG)
• Start/Stop System
• Electric Air Conditioner Compressor
• Liquid Heater Ptc
• Electric Oil Pump
• Electric Vacuum Pump
• Starter Motor & Alternator
• Electric Water Pump
• Actuators

By Hybridization

• Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)

By Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Rest of the World

Key Takeaways

• Comprehensive analysis of the vehicle electrification market trends and shares from 2020 to 2027 at global and regional level to identify growth opportunities and analyze market developments
• Exhaustive analysis of price trends with respect to resin type and region that are expected to impact the outlook of the global vehicle electrification market
• Porters’ Five Forces analysis that highlights the bargaining power of buyers and suppliers to enable stakeholders to make profit-oriented business decisions
• Extensive market outlook of key geographic regions along with market drivers, inhibitors, current & future market trends, and emerging applications
• Comprehensive list of key potential clients across major end-use industries in different geographies
• Thorough import-export analysis  across the globe
• Regional level production output to comprehend the demand-supply scenario
• Competitive landscape covers key companies’ profiling, market share analysis, market footprint analysis, competitive business strategies, channels, and competition matrix for key players

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Vehicle Electrification Market, By Product

7.1. Vehicle Electrification Market, by Product Type, 2020-2027
7.1.1. Electric Power Steering (EPS)
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Integrated Starter Generator (ISG)
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Start/Stop System
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Electric Air Conditioner Compressor
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Liquid Heater Ptc
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Electric Oil Pump
7.1.6.1. Market Revenue and Forecast (2016-2027)
7.1.7. Electric Vacuum Pump
7.1.7.1. Market Revenue and Forecast (2016-2027)
7.1.8. Starter Motor & Alternator
7.1.8.1. Market Revenue and Forecast (2016-2027)
7.1.9. Electric Water Pump
7.1.9.1. Market Revenue and Forecast (2016-2027)
7.1.10. Actuators
7.1.10.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Vehicle Electrification Market, By Hybridization

8.1. Vehicle Electrification Market, by Hybridization, 2020-2027
8.1.1. Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Battery Electric Vehicle (BEV)
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Plug-in Hybrid Electric Vehicle (PHEV)
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Hybrid Electric Vehicle (HEV)
8.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Vehicle Electrification Market, Regional Estimates and Trend Forecast

9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.3.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.4.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.3.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.4.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.5.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.6.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.3.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.4.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.5.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.6.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.3.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.4.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.5.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.6.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.3.2. Market Revenue and Forecast, by Hybridization (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.4.2. Market Revenue and Forecast, by Hybridization (2016-2027)

Chapter 10. Company Profiles

10.1. Continental
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Valeo
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Robert Bosch GmbH
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Denso
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Mitsubishi Electric Corporation
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Johnson Electric
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Delphi Automotive PLC
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Hitachi, Ltd.
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Nexteer Automotive
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. JTEKT Corporation
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives

Chapter 11. Research Methodology

11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions

Chapter 12. Appendix

12.1. About Us
12.2. Glossary of Terms

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