Press release
Vehicle Electrification Market Size 2022, Top Companies Analysis, Share, Trends, Business Model and Forecast by 2027
COVID-19 Impact on Market: (Positive Impact)
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Industry Definition and Application:
Vehicle electrification refers to the process of using electricity to power an automobile and replace components that function on a conventional energy source. It depends on a powertrain driven by electricity and auxiliary techniques, including on-board and off-board charging systems and wireless energy transfer, to offer electronic power-assisted steering. Vehicle electrification is of various kinds, such as an alternator, starter motor, oil, fuel and vacuum pumps, actuators, etc. It provides traction control, an intelligent light system, an electronic stability program, smart electromagnetic suspension, all-wheel drive, airbag deployment design, etc. As a result, vehicle electrification finds widespread applications in distribution, field services, and long-haul transportation across the globe.
Global Vehicle Electrification Market Trends and Drivers:
The escalating demand for electric vehicles (EVs) and the expanding automotive industry are primarily driving the vehicle electrification market. Besides this, the elevating requirement for a substitute of conventional hydraulic and mechanical systems and the rising environmental concerns among individuals, owing to increased carbon dioxide emissions (CO2), are further augmenting the market growth.
Moreover, the growing popularity of vehicle electrification to reduce weight in automotive components to minimize fuel consumption and enhance the operational efficiency is also catalyzing the global market. Apart from this, the introduction of innovative technologies, including e-axle and the declining prices of batteries across countries, are acting as significant growth-inducing factors. Furthermore, the launch of several policies by the government bodies to promote the use of fuel-efficient automobiles is expected to bolster the vehicle electrification market in the coming years.
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Global Vehicle Electrification Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
Aisin Corporation, BorgWarner Inc., Continental AG, DENSO Corporation, Ford Motor Company, Hitachi Ltd., Johnson Electric Holdings Limited, Magna International Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, Valeo and ZF Friedrichshafen AG.
The report has segmented the market on the basis of region, product type, vehicle type and sales channel.
Breakup by Product Type:
• Starter Motor
• Alternator
• Electric Car Motors
• Electric Water Pump
• Electric Oil Pump
• Electric Vacuum Pump
• Electric Fuel Pump
• Electric Power Steering
• Actuators
• Start/Stop System
Breakup by Vehicle Type:
• Internal Combustion Engine (ICE) and Micro-Hybrid Vehicle
• Plug-in Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
Breakup by Sales Channel:
• Original Equipment Manufacturers (OEM)
• Aftermarket
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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