Vehicle Electrification Market 2019 Global Industry Analysis By Size, Share, Growth Factors, Competitive Landscape, Regional Outlook, Leading Players, And Industry Forecast To 2023

Vehicle Electrification Market 2019 Global Industry Analysis By Size, Share, Growth Factors, Competitive Landscape, Regional Outlook, Leading Players, And Industry Forecast To 2023

“””Vehicle Electrification Market”””
Vehicle Electrification Market 2019 Global Industry Analysis To 2023 Report, published by “MarketResearchFuture, The Global Vehicle Electrification Market Set to Grow in Light of High Demand for Electric Vehicles by 2023 Vehicle electrification is the method of electrifying the vehicle at all aspects. It may cover the electrification of propulsion and different components of the vehicles.

Global Vehicle Electrification Market segments analyzed by Product (Start/Stop System, EPS, Actuators, Starter Motor & Alternator, Electric Vacuum Pump, Integrated Starter Generator, Others), Voltage, Vehicle, Sales Channel, and by Region With forecast 2019 to 2023.

Vehicle Electrification Industry Key Players Studied in Report:

Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), JTEKT Corporation (Japan), Nexteer Automotive (U.S.), and Mitsubishi Electric Corporation (Japan). Mando Corp. (South Korea), Borgwarner Inc. (U.S.), Delphi Automotive PLC (U.K.), Johnson Electric (Hong Kong), and Hitachi Automotive Systems, Ltd. (Japan) are among others.

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Global Vehicle Electrification Market 2019 Analysis:

Electrification of vehicles is applied toward the development of hybrid and fully electric vehicles to use electricity as a clean energy source. The vehicle electrification market is growing rapidly due to the growing need to reduce pollutants in the environment. The impact of environmental consciousness is widespread with governments issuing stringent laws and regulations regarding emissions and has led to a surge in demand for electric vehicles.

The development of smart cities, intelligent transport systems and other advances in IT which can be applied to automotive are further increasing the demand for electric vehicles and encouraging manufacturers to develop various electric automotive components for the manufacture of electric vehicles.  The rising concern regarding environmental pollution has resulted in the the development of stringent government regulations. The federal government has enacted different policies and legislation that have promoted the U.S. electric vehicle market. New efforts have been proposed to support the development of technology through improvements in tax credits, investment in R&D, and encouraging the communities to invest in the growth of infrastructures. This will result in higher adoption in electrification in the vehicles.

The emergence of eco-friendly vehicles has also played a major role in increasing the demand for electrification. In Europe, people are encouraged and have created much awareness for eco-friendly vehicles. Additionally, rising health concerns, and growing demand for electrification, have propelled the Europe market for vehicle electrification.

Key questions answered by the report:

  • Which applications/segments provides the maximum Vehicle Electrification Market growth opportunity?
  • What are the emerging technologies and how it would disrupt the market?
  • Who are the key players dominating the market, followed by other prominent vendors and strategies adopted by them?
  • What was the Vehicle Electrification Market size and what would be the forecast in next few years?
  • Regional and country attractiveness: mid to long term outlook?
  • Vehicle Electrification Market dynamics including trends, opportunities, drivers, challenges and how this would impact the market eco-system?

Market Segmentation:

The vehicle electrification market is segmented based on product, vehicle type, sales channel.

On the basis of product, the market is segment into start/stop system, EPS, actuators, starter motor & alternator, electric vacuum pump, integrated starter generator, and others. The Integrated Starter Generator (ISG) is expected to account for the largest market during the forecast period due to the ability to shut down the engine automatically when the vehicle is idle or stuck in traffic. ISG reduces the vibration and noise, improving the comfort for users. ISG replaces the conventional starter, generator and flywheel of the engine to provide improved efficiency. It switches off the combustion engine automatically when at traffic and restarts it in less than one hundred milliseconds. This will lead to increased adoption of electrification in the vehicles.

On the basis of voltage, the market is segmented into 12V, 14V, 24V, and 48V. 24V is expected to dominate the market during the forecast period due to increasing use by the automakers. 48V is expected to expand in future because it can power higher number of electric vehicles. 48V can be used in start-stop system, air conditioning compressors, electrical heaters, pumps, steering drives and other features.

On the basis of vehicle type, the market is segmented into ICE & micro-hybrid, HEV, PHEV, and BEV. ICE & micro-hybrid vehicles is expected to account for the largest market during the forecast period due to increase in the production of ICE vehicles. HEVs are expected to grow at the fastest rate because of the ability to switch between two different powers, such as internal combustion engine to electric motor. This ability will increase the demand for electrification in the vehicles.

On the basis of sales channel, the market is segmented into OEM and aftermarket. OEM is expected to dominate the market in future.

Regional Outlook:

The Asia-Pacific leads the market with the largest share due to the increased involvement of the governments in this region targeting the reduction of emissions. Pollution is a large problem in these regions due to the sheer size of the populations in rapidly emerging economies such as India, China, Japan, and others. The serious pollution in China has led to dense grey smog-filled skies which have been proven to be responsible for one in five debts in the most heavily polluted cities of the country.  This, in turn, has led the Chinese government to issue stringent regulations regarding vehicle emissions. For instance, in 2016, the Chinese Ministry of Environmental Protection (MEP) issues the China 6 Emission Standard for gasoline and diesel vehicles.

China, India and other emerging economies in the region are also some of the largest manufacturers of automotive vehicles due to the rapid industrialization ongoing in the region in an effort to leverage the reduced operational costs available. The development of electric vehicles once widely adopted is expected to move increased scale of manufacture to the Asia-Pacific in the future. 

Research Methodology:

Immaculate methodologies applied by dexterous research analysts at Market Research Future (MRFR) bring out the best in the reports. The report is a specimen of deft handling of the subjected market as well which has undergone two complimenting methodology; primary and secondary. The primary method includes obtaining data from interviews and discussions with the market influencers and analyzing of the same for a better grasp over the said market. The method is followed by a secondary one that includes top-down and bottom-up approaches to gain profound insights regarding the industry. The report further contains a detailed analysis of the market trends, factors, and expert inputs to offer a better-quality report.

List of Tables:

Table 1 Global Vehicle Electrification Market: By Region, 2018-2023

Table 2 North America Vehicle Electrification Market: By Country, 2018-2023

Table 3 Europe Vehicle Electrification Market: By Country, 2018-2023

Table 4 Asia Pacific Vehicle Electrification Market: By Country, 2018-2023

Table 5 RoW Vehicle Electrification Market: By Country, 2018-2023

Table 6 Global Vehicle Electrification Market, By Product, By Regions, 2018-2023

Table 7 North America Vehicle Electrification Market, By Product, By Country, 2018-2023

Table 8 Europe Vehicle Electrification Market, By Product, By Country, 2018-2023) 

Continued…

List of Figures:

FIGURE 1 Research Process Of MRFR

FIGURE 2 Top Down & Bottom Up Approach

FIGURE 3 Market Dynamics

FIGURE 4 Impact Analysis: Market Drivers

FIGURE 5 Impact Analysis: Market Restraints

FIGURE 6 Porter’s Five Forces Analysis

FIGURE 7 Value Chain Analysis

FIGURE 8 Global Vehicle Electrification Market SHARE, By Product, 2016 (%)

FIGURE 9 Global Vehicle Electrification Market, By Product, 2015-2023 (USD MILLION)

FIGURE 10 Global Vehicle Electrification Market SHARE, By Voltage, 2016 (%)

FIGURE 11 Global Vehicle Electrification Market, By Voltage, 2015-2023 (USD MILLION) 

Continued…

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