Regional Outlook and Trend Analysis: Asia Pacific held the biggest share of the market in 2016. The developing car industry in nations, for example, India and China inferable from the interest for vehicle supplements the development for the business. In addition, the blend of rising population in nations and expanding per capita wage empowers the interest for the individual transport car that is steady to a supportable domain.
Competitive Insights-Vehicle Electrification Market:
The leading players in the market are Robert Bosch GmbH, Continental AG, Denso Corporation, Delphi Automotive PLC, Johnson Electric, Mitsubishi Electric Corporation and others. Many Key players are depending on methods, for example, agreements & joint ventures, collaborations, and advancements to build the visibility of their products and fortify their product portfolios.
Market Highlights- Vehicle Electrification Market:
The Vehicle Electrification Market was worth USD 53.67 billion in 2014 and is expected to reach approximately USD 108.18 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 8.10% during the forecast period. Electrification vehicle is considered as a standout amongst other approach to decrease carbon discharge, increment vehicle productivity and lessen reliance over oil. Vehicle jolt produces new open doors for purchaser commitment alongside different natural and financial advantages. Vehicle electrification alludes to a vehicle with electrical methods for impetus and also power paying a noteworthy part in segments usefulness. It covers numerous parts of jolt in the, for example, begin/stop frameworks, electric power guiding, electric vacuum pump, electric oil pump, and numerous different frill which use method of electric drive and additionally assist client with gaining enhanced efficiency.
Vehicle Electrification Market, By Product, Estimates and Forecast, 2014-2023 ($Million)
Electric Power Steering (EPS)
Liquid Heater Ptc
Electric Air Conditioner Compressor
Electric Vacuum Pump
Electric Oil Pump
Electric Water Pump
Starter Motor & Alternator
Integrated Starter Generator (ISG)
Vehicle Electrification Market, By Hybridization, Estimates and Forecast, 2014-2023 ($Million)
Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle
Hybrid Electric Vehicle (HEV)
Plug-In Hybrid Electric Vehicle (PHEV)
Battery Electric Vehicle (BEV)
Hybridization Outlook and Trend Analysis- Vehicle Electrification Market:
Based on Hybridization, the market is portioned into Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle, Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV). Plug-In Hybrid Electric Vehicle (PHEV) segment is expected to showcase highest development over the forecast period. Developing interest for PHEV is ascribed to expanding buyer inclination on advantages of fuel productivity and lower operational and upkeep cost of the vehicle. Substantial development in the innovative condition came about highlights to PHEV, for example, changing to ordinary mode while the battery is purged, brought down tailpipe emanation. Government accentuation on decarbonisation is further emphatically affecting the interest for PHEV. The previously mentioned factors and a few exclusions from government are required to upsurge the interest for module cross breed electric automobiles amid the estimate time frame.
Vehicle Electrification Market - By Region:
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
Rest of the World (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates, Others)
What Our Report Offer:
1) An extensive research study on the Global Vehicle Electrification Market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Vehicle Electrification Market.
2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
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