Dublin, March 07, 2024 (GLOBE NEWSWIRE) -- The "Vehicle Electrification Market - Global Industry Size, Share, Trends Opportunity, and Forecast 2018-2028" report has been added to ResearchAndMarkets.com's offering.
This market analysis report reveals a comprehensive overview of the Global Vehicle Electrification Market, which has recently achieved a valuation of USD 74 billion in 2022. As the world steadily progresses towards a greener future, this sector is exhibiting promising growth rates, with expectations to continue thriving at a compound annual growth rate (CAGR) of 9.5% through 2028. Such substantial growth signifies the market's adaptation to the rising global demand for sustainable means of transportation and reduced carbon emissions.
Remarkable Trends and Opportunities in Vehicle Electrification
With the transportation sector at the cusp of a pivotal transformation, vehicle electrification stands out as a critical component in achieving eco-friendly mobility. The market caters to a broad array of electrification technologies, including but not limited to, hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs).
The detailed market segmentation offers insights into product types that encapsulate starter motors, alternators, electric car motors, electric water pumps, and various other electric-driven components. The thorough analysis extends to demand categories ranging from Original Equipment manufacturers (OEMs) to aftermarket sales and break-down by vehicle types, which include internal combustion engine vehicles, various hybrids, and purely electric vehicles.
Focused Regional Growth Analysis
The scope of the market report spans a global scale, encompassing key regions like North America, Europe & CIS, Asia-Pacific, South America, and the Middle East & Africa. Countries such as the United States, Germany, China, and Brazil are focal points of this extensive study, demonstrating the geographical diversity and global reach of the vehicle electrification trend.
Competitive Insights on Vehicle Electrification Players
The report not only delivers a meticulous market forecast and trend analysis but also profiles the major industry players that are shaping the dynamics of vehicle electrification. It provides valuable business intelligence in the competitive landscape, facilitating strategic decision-making for stakeholders in the industry.
Continued Market Expansion
The persistent evolution in automotive technologies and the rising regulation standards aimed at reducing vehicular emissions are propelling the Global Vehicle Electrification Market to new heights. It is evident from the report's comprehensive research that the accelerating adoption rates of electrified vehicles are leading the charge towards a progressive, low-carbon future.
The Global Vehicle Electrification Market report, with its in-depth industry trends analysis and segmentation, is a significant resource for anyone looking to understand the evolution of this rapidly developing market and identifies key opportunities that may shape the future of transportation.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 183 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $74 Billion |
| Forecasted Market Value (USD) by 2028 | $126.58 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Delphi Automotive PLC
- Johnson Electric
- Mitsubishi Electric Corporation
- Magna
- Aisin Seiki
- Borwagner
- Johnson Controls
For more information about this report visit https://www.researchandmarkets.com/r/f6u7ww
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
