Vehicle Electrification Market 2019 is latest depth analysis report on Global Vehicle Electrification Marke. According to report Global Vehicle Electrification Market is anticipated to prosper with a healthy CAGR in the forecast period of 2019 to 2023. Report comprises key players sales, revenue, opportunity and risk assessment, market shares, size, trends in terms of volume with regional market analysis from 2019 to 2023.
Global Vehicle Electrification Market Insight:
The well-known players in vehicle electrification market are listed as 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).
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Global Vehicle Electrification Market is segmented by Product (Start/Stop System, EPS, Actuators, Starter Motor & Alternator, Electric Vacuum Pump, Integrated Starter Generator, Others), Voltage, Vehicle, Sales Channel – Forecast till 2023. New Intelligent Transport Systems to Motivate Vehicle electrification Market in the Forecast Period: 2019-2023. Global Vehicle Electrification Market Can Prosper with High CAGR in the Coming Years.
The global vehicle electrification market is gaining prominence owing to the new developments that are being made the automation industry. On this note, Market Research Future reveals that the global vehicle electrification market is touted to gain maximum traction during the forecast period (2018-2023). The study unveils some of the trending factors that are catering immensely behind the market’s growth. Also, segmental analysis and regional analysis portrays the future aspects of the market and its growth trajectory.
Market Drivers & Trends:
The vehicle electrification trend is gaining popularity in the present time, as many countries are converting the fuel emission into electrical usage to save environment from hazardous effects. Such a great effort of electrification is made to mild the usage of fuel and converting into smart electromagnetic suspension. The global vehicle electrification market is gaining considerable traction owing to the reduction in pollutants. It is the developments of new intelligent transport systems, which is highly contributing to the market’s growth in the current time and would achieve more in valuation during the forecast period.
At the same time, rigorous government regulations, coupled with the emergence of eco-friendly vehicles are also to motivate the market’s growth in the coming years. The global vehicle electrification market is also banking on demand for mobility solution, which comes from pollution and traffic, especially in the developed countries, across the world. Moreover, there has been development of new strategies by the international and national governments, around the world in reduction of emission and to improve urban environmental conditions. Such initiative will thus, influence the manufacturers to adopt electrification in their vehicles. These have been some of the chief factors striking the market to expand at rapid pace and cater in the coming years as well.
As an add-on, more factor such as future traffic system with data-driven, shared, electric, and highly automated are also to be anticipated as the driver for the vehicle electrification market in the assessment period. Along with this, new efforts have also been proposed in support of the expansion of technology through enhancements in tax credits, investment in R&D, and encouraging communities to invest in the growth of infrastructures. These factors are also posing as crucial for the higher adoption of vehicle electrification.
The global market for vehicle electrification has been segmented by product, vehicle type, sales channel.
In terms of product, the market splits into a start/stop system, EPS, actuators, starter motor & alternator, electric vacuum pump, integrated starter generator. Among which, the Integrated Starter Generator (ISG) is likely to have the largest market during the forecast period owing to the ability to shut down the engine automatically when the vehicle is idle or stuck in traffic. ISG reduces the vibration and noise, thus improving the comfort for users as well as replaces the conventional starter, generator and flywheel of the engine to provide improved efficiency. These features are to lead in the increased adoption of electrification in the vehicles.
In terms of voltage, the market splits into 12V, 14V, 24V, and 48V. 24V is likely to lead the market during the progression period in support of increasing use by the automakers. 48V segment is witnessed to expand in future as it can power a higher number of electric vehicles and also can be used in start-stop system, air conditioning compressors, electrical heaters, pumps, steering drives, and other features.
In terms of vehicle type, the market splits into ICE & micro-hybrid, HEV, PHEV, and BEV. Of these, ICE & micro-hybrid vehicles are likely to have the largest market during the forecast period in support of increase in the production of ICE vehicles. Whereas, HEVs are also recorded to grow at the fastest rate due to its ability to switch between different powers such as internal combustion engine to electric motor. Such thins is expected to increase the demand for electrification in the vehicles.
In terms of the sales channel, the market splits into OEM and aftermarket. Wherein, the OEM is anticipated to lead the market in future.
Regionally, the market for vehicle electrification has also been studied across the regions such as North America, Asia Pacific, Europe, and Rest of the World.
Of these, the Asia Pacific region is witnessed to store most significant market share backing with increased government regulation to reduce emission. In case of point, in December 2016, the Ministry of Environmental Protection (MEP) issued the China 6 Emission Standard for gasoline and diesel vehicles which enabled the manufacturers to shift towards the development of electric vehicles that resulted in the growth of vehicle electrification.
North America is also anticipated to be the second-largest market, as the U.S. has led the vehicle electrification market to a great extent along with its manufacturing processes as well.
Company Profiles Analyzed:
11.1 Robert Bosch GmbH (Germany)
11.1.1 Company Overview
11.1.2 Products/Services Offering
11.1.3 Financial Overview
11.1.4 Key Developments
11.1.6 SWOT Analysis
11.2 Continental AG (Germany)
11.2.1 Company Overview
11.2.2 Products/Services Offering
11.2.3 Financial Overview
11.2.4 Key Developments
11.2.6 SWOT Analysis
11.3 ZF Friedrichshafen AG (Germany)
11.3.1 Company Overview
11.3.2 Products/Services Offering
11.3.3 Financial Overview
11.3.4 Key Developments
11.3.6 SWOT Analysis
11.4 Denso Corporation (Japan)
11.4.1 Company Overview
11.4.2 Products/Services Offering
11.4.3 Financial Overview
11.4.4 Key Developments
11.4.6 SWOT Analysis
11.5 JTEKT Corporation (Japan)
11.5.1 Company Overview
11.5.2 Products/Services Offering
11.5.3 Financial Overview
11.5.4 Key Developments
11.5.6 SWOT Analysis
11.6 Nexteer Automotive (U.S.)
11.6.1 Company Overview
11.6.2 Products/Services Offering
11.6.3 Financial Overview
11.6.4 Key Developments
11.6.6 SWOT Analysis
11.7 Mitsubishi Electric Corporation (Japan)
11.7.1 Company Overview
11.7.2 Products/Services Offering
11.7.3 Financial Overview
11.7.4 Key Developments
11.7.6 SWOT Analysis
11.8 Mando Corp. (South Korea)
11.8.1 Company Overview
11.8.2 Products/Services Offering
11.8.3 Financial Overview
11.8.4 Key Developments
11.8.6 SWOT Analysis
11.9 Borgwarner Inc. (U.S.)
11.9.1 Company Overview
11.9.2 Products/Services Offering
11.9.3 Financial Overview
11.9.4 Key Developments
11.9.6 SWOT Analysis
11.10 Delphi Automotive PLC (U.K.)
11.10.1 Company Overview
11.10.2 Products/Services Offering
11.10.3 Financial Overview
11.10.4 Key Developments
11.10.6 SWOT Analysis
11.11 Johnson Electric (Hong Kong)
11.11.1 Company Overview
11.11.2 Products/Services Offering
11.11.3 Financial Overview
11.11.4 Key Developments
11.11.6 SWOT Analysis
11.12 Hitachi Automotive Systems, Ltd. (Japan)
11.12.1 Company Overview
11.12.2 Products/Services Offering
11.12.3 Financial Overview
11.12.4 Key Developments
11.12.6 SWOT Analysis
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