Vehicle Electrification Market Overview

The report is titled ‘Vehicle Electrification Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the vehicle electrification market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The vehicle electrification market is expected to grow at a significant rate in the near future.

The global vehicle electrification market in 2020 is estimated for more than US$ 87.5 Bn and expected to reach a value of US$ 201.8 Bn by 2028 with a significant CAGR of 11.1%.

Vehicle Electrification Market Definition

Vehicle electrification is one of the innovative and best ways developed to reduce carbon emission and vehicle dependency on oil; it also increases the efficiency of the vehicles. Electrification products especially engineers to offer high-efficiency operations at low, mid, and high torque and speed operations.

However, it may or may not offer great performance as it completely depends on the type of vehicle and geographic location. In addition, the insurance cost of these technically modified vehicles can be a bit higher as compared to the traditional vehicles. However, it also depends on the location of the user as well as on the cost of the vehicle.

Vehicle Electrification Market Dynamics

Increasing demand for 48-volt architecture, adoption of electric vehicles, and elevating costs of conventional fuels are responsible for driving the growth of the vehicle electrification market. In addition, strict norms against carbon emission and increasing demand for fuel-efficient vehicles are also propelling the demand for vehicle electrification products. However, the inappropriate charging infrastructure for electric vehicles and its expensive nature may hamper the growth of this market.

The global vehicle electrification market is expected to increase at a significant CAGR over the forecast period owing to the Decreasing permissible limit of cO2 emission regulations, rising adoption of reliable electric systems in vehicles and maximizing the need of public transportation. Moreover, the adoption of electrification of commercial and increasing demand for this technology from developing countries is also fuelling the growth of this market. The failure of electronic and electrical components may hamper the growth of the vehicle electrification market.

Vehicle Electrification Market Key Players

Global vehicle electrification market is mainly dominated by Aisin Seiki Co. Ltd., Borgwarner Inc., Continental AG, Delphi Automotive PLC, Denso Corporation, Johnson Controls Inc., Johnson Electric, Magna International Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG.

Vehicle Electrification Market Segmentation

The global vehicle electrification market is segmented on the basis of product type, degree of hybridization, and region.

On the basis of product type, the global vehicle electrification market can be segmented into Start/Stop System, Electric Power Steering (EPS), Liquid Heater PTC, Electric Air Conditioner Compressor, Electric Vacuum Pump, Electric Oil Pump, Electric Water Pump, Starter Motor & Alternator, Integrated Starter Generator (ISG) and Actuators. On the basis of the degree of hybridization, the global vehicle electrification market can be segmented into Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV), and Micro-Hybrid Vehicle & Internal Combustion Engine (ICE).

Vehicle Electrification Market Regional Segmentation Overview

On the basis of region, the global vehicle electrification market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. Asia Pacific vehicle electrification market is expected to be the most dominating market throughout the forecast period.

The market is majorly driven by the high adoption rate of electric vehicles and significant investments by OEMs. Stringent norms of vehicle efficiency and technical advancements in automobile industry are increasing the demand for vehicle electrification. In addition, the high cost of electric vehicles, in spite of numerous advancements in battery technology and supportive government funding may restrict the growth of this market.

MMC Overview on Vehicle Electrification Market Report

The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.

A research report on the Vehicle Electrification market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.

Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth include (but not restricted to):

•    New product designs and launches

•    Current product compliance

•    Reimbursement

•    Concerns for use of Vehicle Electrification

•    Advantages of Vehicle Electrification

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at a regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make an informed decision.

A mix of the top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates, and market expansion plans are considered to generate market share in the global market.

1.    Global Vehicle Electrification Market Report Overview

1.1.    Introduction

1.2.    Report Description

1.3.    Methodology

2.    Global Vehicle Electrification Market Overview

2.1.    Introduction

2.1.1.    Market Definition

2.1.2.    Market Taxonomy

2.2.    Executive Summary

2.3.    Global Vehicle Electrification Market Snapshot

2.4.    Global Vehicle Electrification Market Size And Forecast, 2020–2028

2.4.1.    Introduction

2.4.2.    Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)

2.5.    Global Vehicle Electrification Market Dynamics

2.5.1.    Drivers

2.5.2.    Restraints

2.5.3.    Opportunity

2.5.4.    Trends

2.6.    Key Regulations

2.7.    Porter’s Five Forces Model

3.    Global Vehicle Electrification Market, By Product Type

3.1.    Introduction

3.1.1.    Annual Growth Rate Comparison, By Product Type

3.1.2.    BPS Analysis, By Product Type

3.2.    Market Revenue (US$Mn) and Volume (Units) Forecast, By Product Type

3.2.1.    Start/Stop System

3.2.2.    Electric Power Steering (EPS)

3.2.3.    Liquid Heater PTC

3.2.4.    Electric Air Conditioner Compressor

3.2.5.    Electric Vacuum Pump

3.2.6.    Electric Oil Pump

3.2.7.    Electric Water Pump

3.2.8.    Starter Motor & Alternator

3.2.9.    Integrated Starter Generator (ISG)

3.2.10.    Actuators

3.3.    Global Vehicle Electrification Market Attractiveness Index, By Product Type

4.    Global Vehicle Electrification Market, By Degree of Hybridization

4.1.    Introduction

4.1.1.    Annual Growth Rate Comparison, By Degree of Hybridization

4.1.2.    BPS Analysis, By Degree of Hybridization

4.2.    Market Revenue (US$Mn) and Volume (Units)  Forecast, By Degree of Hybridization

4.2.1.    Battery Electric Vehicle (BEV)

4.2.2.    Plug-In Hybrid Electric Vehicle (PHEV)

4.2.3.    Hybrid Electric Vehicle (HEV)

4.2.4.    Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)

4.3.    Global Vehicle Electrification Market Attractiveness Index, By Degree Of Hybridization

5.    Global Vehicle Electrification Market, By Region

5.1.    Introduction

5.1.1.    Annual Growth Rate Comparison, By Region

5.1.2.    BPS Analysis, By Region

5.2.    Market Revenue (US$Mn) and Volume (Units)  Forecast, By Region

5.2.1.    North America

5.2.2.    Latin America

5.2.3.    Europe

5.2.4.    Asia Pacific

5.2.5.    Middle East 

5.2.6.    Africa

5.3.    Global Vehicle Electrification Market Attractiveness Index, By Region

6.    North America Vehicle Electrification Market Analysis and Forecast, 2020–2028

6.1.    Introduction

6.1.1.    Annual Growth Rate Comparison, By Country

6.1.2.    BPS Analysis, By Country

6.2.    Market Revenue (US$Mn) and Volume (Units) Forecast, By Country

6.2.1.    U.S. Vehicle Electrification Market

6.2.2.    Canada Vehicle Electrification Market

6.3.    North America Vehicle Electrification Market, By Product Type

6.3.1.    Start/Stop System

6.3.2.    Electric Power Steering (EPS)

6.3.3.    Liquid Heater PTC

6.3.4.    Electric Air Conditioner Compressor

6.3.5.    Electric Vacuum Pump

6.3.6.    Electric Oil Pump

6.3.7.    Electric Water Pump

6.3.8.    Starter Motor & Alternator

6.3.9.    Integrated Starter Generator (ISG)

6.3.10.    Actuators

6.4.    North America Vehicle Electrification Market, By Degree of Hybridization

6.4.1.    Battery Electric Vehicle (BEV)

6.4.2.    Plug-In Hybrid Electric Vehicle (PHEV)

6.4.3.    Hybrid Electric Vehicle (HEV)

6.4.4.    Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)

6.5.    North America Vehicle Electrification Market Attractiveness Index

6.5.1.    By Country

6.5.2.    By Product Type

6.5.3.    By Degree of Hybridization

7.    Latin America Vehicle Electrification Market Analysis and Forecast, 2020–2028

7.1.    Introduction

7.1.1.    Annual Growth Rate Comparison, By Country

7.1.2.    BPS Analysis, By Country

7.2.    Market (US$Mn) and Volume (Units) Forecast, By Country

7.2.1.    Brazil Vehicle Electrification Market

7.2.2.    Mexico Vehicle Electrification Market

7.2.3.    Argentina Vehicle Electrification Market

7.2.4.    Rest Of Latin America Vehicle Electrification Market

7.3.    Latin America Vehicle Electrification Market, By Product Type

7.3.1.    Start/Stop System

7.3.2.    Electric Power Steering (EPS)

7.3.3.    Liquid Heater PTC

7.3.4.    Electric Air Conditioner Compressor

7.3.5.    Electric Vacuum Pump

7.3.6.    Electric Oil Pump

7.3.7.    Electric Water Pump

7.3.8.    Starter Motor & Alternator

7.3.9.    Integrated Starter Generator (ISG)

7.3.10.    Actuators

7.4.    Latin America Vehicle Electrification Market, By Degree of Hybridization

7.4.1.    Battery Electric Vehicle (BEV)

7.4.2.    Plug-In Hybrid Electric Vehicle (PHEV)

7.4.3.    Hybrid Electric Vehicle (HEV)

7.4.4.    Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)

7.5.    Latin America Vehicle Electrification Market Attractiveness Index

7.5.1.    By Country

7.5.2.    By Product Type

7.5.3.    By Degree of Hybridization

8.    Europe Vehicle Electrification Market Analysis and Forecast, 2020–2028

8.1.    Introduction

8.1.1.    Annual Growth Rate Comparison, By Country

8.1.2.    BPS Analysis, By Country

8.2.    Market (US$Mn) and Volume (Units) Forecast, By Country

8.2.1.    U.K. Vehicle Electrification Market

8.2.2.    Germany Vehicle Electrification Market

8.2.3.    Italy Vehicle Electrification Market

8.2.4.    France Vehicle Electrification Market

8.2.5.    Spain Vehicle Electrification Market

8.2.6.    Russia Vehicle Electrification Market

8.2.7.    Poland Vehicle Electrification Market

8.2.8.    BENELUX Vehicle Electrification Market

8.2.9.    NORDIC Vehicle Electrification Market

8.2.10.    Rest Of Europe Vehicle Electrification Market

8.3.    Europe Vehicle Electrification Market, By Product Type

8.3.1.    Start/Stop System

8.3.2.    Electric Power Steering (EPS)

8.3.3.    Liquid Heater PTC

8.3.4.    Electric Air Conditioner Compressor

8.3.5.    Electric Vacuum Pump

8.3.6.    Electric Oil Pump

8.3.7.    Electric Water Pump

8.3.8.    Starter Motor & Alternator

8.3.9.    Integrated Starter Generator (ISG)

8.3.10.    Actuators

8.4.    Europe Vehicle Electrification Market, By Degree of Hybridization

8.4.1.    Battery Electric Vehicle (BEV)

8.4.2.    Plug-In Hybrid Electric Vehicle (PHEV)

8.4.3.    Hybrid Electric Vehicle (HEV)

8.4.4.    Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)

8.5.    Europe Vehicle Electrification Market Attractiveness Index

8.5.1.    By Country

8.5.2.    By Product Type

8.5.3.    By Degree of Hybridization

9.    Asia Pacific Vehicle Electrification Market Analysis and Forecast, 2020–2028

9.1.    Introduction

9.1.1.    Annual Growth Rate Comparison, By Country

9.1.2.    BPS Analysis, By Country

9.2.    Market (US$Mn) and Volume (Units) Forecast, By Country

9.2.1.    China Vehicle Electrification Market

9.2.2.    India Vehicle Electrification Market

9.2.3.    Japan Vehicle Electrification Market

9.2.4.    Australia And New Zealand Vehicle Electrification Market

9.2.5.    South Korea Vehicle Electrification Market

9.2.6.    ASEAN Vehicle Electrification Market

9.2.7.    Rest Of Asia Pacific Vehicle Electrification Market

9.3.    Asia Pacific Vehicle Electrification Market, By Product Type

9.3.1.    Start/Stop System

9.3.2.    Electric Power Steering (EPS)

9.3.3.    Liquid Heater PTC

9.3.4.    Electric Air Conditioner Compressor

9.3.5.    Electric Vacuum Pump

9.3.6.    Electric Oil Pump

9.3.7.    Electric Water Pump

9.3.8.    Starter Motor & Alternator

9.3.9.    Integrated Starter Generator (ISG)

9.3.10.    Actuators

9.4.    Asia Pacific Vehicle Electrification Market, By Degree of Hybridization

9.4.1.    Battery Electric Vehicle (BEV)

9.4.2.    Plug-In Hybrid Electric Vehicle (PHEV)

9.4.3.    Hybrid Electric Vehicle (HEV)

9.4.4.    Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)

9.5.    Asia Pacific Vehicle Electrification Market Attractiveness Index

9.5.1.    By Country

9.5.2.    By Product Type

9.5.3.    By Degree of Hybridization

10.    Middle East Vehicle Electrification Market, By Region

10.1.    Introduction

10.1.1.    Annual Growth Rate Comparison, By Country

10.1.2.    BPS Analysis, By Country

10.2.    Market (US$Mn) and Volume (Units) Forecast, By Country

10.2.1.    GCC Countries Vehicle Electrification Market

10.2.2.    Israel Vehicle Electrification Market

10.2.3.    Oman Vehicle Electrification Market

10.2.4.    Rest Of Middle East Vehicle Electrification Market

10.3.    Middle East Vehicle Electrification Market, By Product Type

10.3.1.    Start/Stop System

10.3.2.    Electric Power Steering (EPS)

10.3.3.    Liquid Heater PTC

10.3.4.    Electric Air Conditioner Compressor

10.3.5.    Electric Vacuum Pump

10.3.6.    Electric Oil Pump

10.3.7.    Electric Water Pump

10.3.8.    Starter Motor & Alternator

10.3.9.    Integrated Starter Generator (ISG)

10.3.10.    Actuators

10.4.    Middle East Vehicle Electrification Market, By Degree of Hybridization

10.4.1.    Battery Electric Vehicle (BEV)

10.4.2.    Plug-In Hybrid Electric Vehicle (PHEV)

10.4.3.    Hybrid Electric Vehicle (HEV)

10.4.4.    Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)

10.5.    Middle East Vehicle Electrification Market Attractiveness Index

10.5.1.    By Country

10.5.2.    By Product Type

10.5.3.    By Degree of Hybridization

11.    Africa Vehicle Electrification Market, By Region

11.1.    Introduction

11.1.1.    Annual Growth Rate Comparison, By Country

11.1.2.    BPS Analysis, By Country

11.2.    Market (US$Mn) and Volume (Units) Forecast, By Country

11.2.1.    South Africa Vehicle Electrification Market

11.2.2.    Egypt Vehicle Electrification Market

11.2.3.    North Africa Vehicle Electrification Market

11.2.4.    Rest Of Africa Vehicle Electrification Market

11.3.    Africa Vehicle Electrification Market, By Product Type

11.3.1.    Start/Stop System

11.3.2.    Electric Power Steering (EPS)

11.3.3.    Liquid Heater PTC

11.3.4.    Electric Air Conditioner Compressor

11.3.5.    Electric Vacuum Pump

11.3.6.    Electric Oil Pump

11.3.7.    Electric Water Pump

11.3.8.    Starter Motor & Alternator

11.3.9.    Integrated Starter Generator (ISG)

11.3.10.    Actuators

11.4.    Africa Vehicle Electrification Market, By Degree of Hybridization

11.4.1.    Battery Electric Vehicle (BEV)

11.4.2.    Plug-In Hybrid Electric Vehicle (PHEV)

11.4.3.    Hybrid Electric Vehicle (HEV)

11.4.4.    Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)

11.5.    Africa Vehicle Electrification Market Attractiveness Index

11.5.1.    By Country

11.5.2.    By Product Type

11.5.3.    By Degree of Hybridization

12.    Recommendation

12.1.    Market Strategy

13.    Competitive Landscape

13.1.    Competition Dashboard

13.2.    List and Company Overview of Global Key Players

13.3.    Company Profiles

13.3.1.    Aisin Seiki Co. Ltd. 

13.3.1.1.    Company Overview

13.3.1.2.    Financial Overview

13.3.1.3.    Product Portfolio

13.3.1.4.    Key Developments

13.3.1.5.    Business Strategies

13.3.2.    Borgwarner Inc. 

13.3.3.    Continental AG 

13.3.4.    Delphi Automotive PLC 

13.3.5.    Denso Corporation 

13.3.6.    Johnson Controls Inc. 

13.3.7.    Johnson Electric 

13.3.8.    Magna International Inc. 

13.3.9.    Mitsubishi Electric Corporation 

13.3.10.    Robert Bosch GmbH

13.3.11.    ZF Friedrichshafen AG

14.    Acronyms