2022 Vehicle Electrification Global Market Report : Size, Share, Growth Rate, Business Module, Product Scope And Expansion 2031

The global vehicle electrification market report by the business research company identifies increasing demand for hybrid vehicles is propelling the growth of the vehicle electrification market. Hybrid vehicles have an internal combustion engine and one or more electric motors, any one source can be used to run the vehicle. Hybrid vehicles provide fuel economy and help in reducing emissions as they provide an option to run on an electric battery. The increasing demand for hybrid vehicles is due to the shift of focus to reducing emissions by opting for electric vehicles. The demand is also due to the rise in the income levels and the young population. As the demand increases for hybrid vehicles, there will be a significant need for electrification of vehicles as it is the way to make a normal vehicle a hybrid one. For instance, according to the data from US-based analytics firm Wards Intelligence, the US sales of hybrid vehicle sales increased by 76% to 801,550 vehicles in 2021, representing 5% of US light vehicle sales. Sales of electric vehicles also increased by 83% to 434,879, representing 3% of the market. Therefore, the increasing demand for hybrid vehicles is expected to drive the vehicle electrification market.

The global vehicle electrification market size is expected to grow from $67.47 billion in 2021 to $74.60 billion in 2022 at a compound annual growth rate (CAGR) of 10.56%. The global vehicle electrification market size is expected to grow to $114.25 billion in 2026 at a CAGR of 11.25%.

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Asia-Pacific was the largest region in the vehicle electrification market in 2021. The regions covered in the global vehicle electrification market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Major players in the vehicle electrification market are Continental AG, Delphi Technologies, Robert Bosch, Denso, Magna International, Johnson Electric, Mitsubishi Electric, Volkswagen, Toyota, Honda Motor Company, Johnson Controls and Aptiv.

The global organic food market is segmented -
1) By Product Type:
Starter Motor
Alternator
Electric Car Motors
Electric Water Pumps
Electric Oil Pump
Electric Vacuum Pump
Electric Fuel Pump
Electric Power Steering
Actuators
Start/Stop System

2) By Vehicle Type:
Internal Combustion Engine Vehicle
Micro and Full Hybrid Vehicle
Plug-In Hybrid Electric Vehicle (PHEV)
Battery Electric Vehicle (BEV)

3) By Sales Channel:
Original Equipment Manufacturers (OEM)
Aftermarket

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The Vehicle electrification Market Report Contents Include
1. Executive Summary
2. Vehicle Electrification Market Characteristics
3. Vehicle Electrification Market Trends And Strategies
4. Impact Of COVID-19 On Vehicle Electrification
5. Vehicle Electrification Market Size And Growth
………
28. Key Mergers And Acquisitions In The Vehicle Electrification Market
29. Vehicle Electrification Market Future Outlook and Potential Analysis
30. Appendix

This report covers the trends and market dynamics of the vehicle electrification market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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