Increasing Demand for Reliable Electric Systems in Vehicles drives Vehicle Electrification Market.

 rechal deey
  4th-Mar-2019
 38
HWO_1551698322_1.jpg Markets and Markets

According to the market research report Vehicle Electrification Market by Product (Start-Stop, PTC, EPS, Electric Air-Conditioner, ISG, Starter Motor, Alternator, Actuator, Electric Pump-Vacuum, Oil & Water), 48V Mild-Hybrid, Degree of Hybridization, and Vehicle Type - Global Forecast to 2022, published by MarketsandMarkets™, Owing to various benefits of electrification such as decreased vehicle weight, reduced emissions, increased fuel efficiency, and driving comfort, vehicle electrification is expected to become a preferred option for OEMs in the near future.

The vehicle electrification market to Capture Unparalleled Growth with CAGR of 8.17% during the forecast period, to reach a market size of USD 92.59 Billion by 2022.

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“Stringent emission norms and fuel economy standards to drive the vehicle electrification market”

The vehicle electrification market is projected to grow at a CAGR of 8.17% during the forecast period, to reach a market size of USD 92.59 billion by 2022. The implementation of stringent emission norms and fuel economy standards globally as well as increasing vehicle production are driving the vehicle electrification market. Alternatively, the high cost of electric vehicles can undermine the demand for vehicle electrification.

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Objectives of the Study:

· To define, describe, and project the vehicle electrification market by product type (start/stop system, electric power steering (EPS), electric air-conditioner compressor, electric vacuum pump, electric oil pump, electric water pump, liquid heater PTC, integrated starter generator, starter motor and alternator, and actuators)

· To define, describe, and project the vehicle electrification market by degree of hybridization (internal combustion engine (ICE) and micro hybrid vehicle, hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and battery electric vehicle (BEV))

· To define, describe, and project the 48V Mild-hybrid market for vehicle electrification

· To define, describe, and project the vehicle electrification market by region (Asia-Oceania, North America, Europe, and Rest of the World) and vehicle type (passenger cars and commercial vehicles)

The market for plug-in hybrid electric vehicles (PHEV) is estimated to witness the fastest growth in the vehicle electrification market

Plug-in hybrid electric vehicles are projected to lead the vehicle electrification market, in terms of value, during the forecast period. Automakers are seeing plug-in hybrids as the gateway to electric vehicles. Government tax incentives and state rebates have boosted the proliferation of plug-in hybrid vehicles. Asia-Oceania and North America are estimated to be the fastest growing markets for plug-in hybrid electric vehicles. Increasing charging infrastructure in North America is responsible for the shift from conventional ICE vehicles to PHEV. OEMs in this region have also invested a significant amount in the development of vehicle electrification. This would also drive the demand for plug-in hybrid electric vehicles.

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The vehicle electrification market is dominated by a few global players and comprises several regional players. Some of the key suppliers operating in the market are Robert Bosch GmbH (Germany), Continental AG (Germany), Delphi Automotive PLC (U.K.), Denso Corporation (Japan), and Hitachi Electric (Hong Kong).

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