The Infinium Global Research analyzes the Vehicle Electrification Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global vehicle electrification market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of vehicle electrification. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the vehicle electrification market during the period.
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The trend of shifting the oil & gas-powered engine to an electrically powered vehicle is being observed in the automotive industry recently. The vehicle electrification market is relatively new and highly fragmented in nature. A number of players in the market control a large part of the market share. A majority of key players in the market including Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Denso Corporation, Aptiv PLC, Borgwarner Inc., and others are focusing on launching innovative products and strategic collaboration with automakers and acquisition of local component suppliers to maintain competitiveness in the market.
Increasing Demand for Lightweight and Fuel-Efficient Cars is the Key Factor Driving the Vehicle Electrification Market
The increasing demand for lightweight and fuel-efficient cars is the key factor driving the vehicle electrification market. Moreover, the growing demand for electric vehicles is projected to propel the growth of the vehicle electrification market. Furthermore, the rise in the number of government initiatives to promote vehicle electrification is expected to boost the vehicle electrification market. However, the lack of infrastructure is the major restraining factor for the vehicle electrification market. Additionally, the emergence of 5G and other connectivity solutions is expected to provide opportunities for Vehicle Electrification manufacturers in the future.
Vehicle Electrification Market: Segmentation
The vehicle electrification market for EV’s is segmented by the level of product type, and hybridization. The product type of vehicle electrification is categorized into the start/stop system, electric power steering (eps), liquid heater PTC, integrated starter generator (ISG), starter motor & alternator, actuators, and other products. The integrated starter generator segment dominated the product type owing to the ability to shut down the engine automatically when the vehicle is idle or stuck in traffic. It also reduces the vibration and noise, improving the comfort for driver and passengers. The hybridization of the vehicle electrification includes Internal Combustion Engine (ICE), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), and Battery Electric Vehicle (BEV). The BEV among the hybridization is the fastest-growing segment owing to increasing demand for zero-emission, eco-friendly cars.
Vehicle Electrification Market in the Asia Pacific Generates the Highest Revenue
Region-wise, the vehicle electrification market in the Asia Pacific generates the highest revenue. The vehicle electrification market in this region holds a large amount of share of the global market. The domination of the Asia Pacific region in the vehicle electrification market attributes to the increased government regulation to reduce emission. Moreover, the growing demand for lightweight and fuel-efficient cars in the region is expected to boost the growth of the vehicle electrification market in the Asia Pacific.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the vehicle electrification.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.