Dublin, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The "Vehicle Electrification Market by Product Type, Sales Channel and Aftermarket, and Vehicle Type & Battery Electric Vehicle: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global vehicle electrification market was valued at $70.14 billion in 2019, and is projected to reach $140.29 billion by 2027, registering a CAGR of 11.3%.
Asia-Pacific and North America are expected to witness considerable CAGRs of 12.9% and 11.2%, respectively. Vehicle electrification is the new era of automotive industry as majority of the industry players are changing the manufacturing outlook. The changing automotive manufacturing outlook is expected to support the growth of vehicle electrification market in the recent years.
Moreover, electrical vehicles are witnessing popularity across the globe, owing to their operational efficiency and superior fuel economy. Vehicle electrification outperforms the conventional vehicle providing higher fuel economy, low carbon emission & maintenance, convenience of charging and refueling, smoother drive, and reduced sound from engine. Asia Pacific is expected to be witness as leading revenue contributor in the global market owing to wide spread of the OEM facilities in the said region.
The growth of the global vehicle electrification market is driven by rise in adoption of fuel-efficient mobility solutions along with effective performance requirements and fall in price of batteries per KWH. However, decline in production and sale of automotive from last two year and high dependence on mechanical & hydraulic systems in existing vehicles are expected to act as the key restraints of the global market. Conversely, surge in need for cost-effective solutions and increase in electrification of commercial vehicles and fleet are anticipated to be provide potential growth opportunities for the global market in the near future.
The report segments the global vehicle electrification market based on product type, sales channel, vehicle type, and region. On the basis of product type, the market is segregated into starter motor, alternator, electric car motors, electric water pumps, electric oil pump, electric vacuum pump, electric fuel pump, electric power steering, actuators, and start/stop system.
By sales channel, it is categorized into original equipment manufacturers (OEM) and aftermarket. Depending on vehicle type, it is differentiated into internal combustion engine vehicle, micro & full hybrid vehicle, and plug-in hybrid electric vehicle (PHEV) & battery electric vehicle (BEV). Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in global vehicle electrification market include AISIN SEIKI Co., Ltd., CONTINENTAL AG, Delphi Technologies, Hitachi Automotive Systems, Ltd., Robert Bosch GmbH, ZF FRIEDRICHSHAFEN AG, Denso Corporation, BorgWarner Inc, Magna International Inc, and Johnson Electric Holdings Limited.
Key Topics Covered:
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
Chapter 2: Executive Summary
2.1. CXO Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Impacting Factors
3.2.2. Top Investment Pockets
3.2.3. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.4. Market Share Analysis, 2019 (%)
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Growing Adoption of Fuel Efficient Mobility Solution Along With Effective Performance Requirements is Anticipated to Support the Growth of Vehicle Electrification
3.5.1.2. Reducing Price of Batteries Per Kwh Spur the Demand for Vehicle Electrification
3.5.2. Restraints
3.5.2.1. Decreasing Production and Sales of Automotive from Last Two Year
3.5.2.2. High Dependence on Mechanical & Hydraulic System in Existing Vehicles
3.5.3. Opportunities
3.5.3.1. Increasing Need for Cost Effective Solution
3.5.3.2. Growing Electrification of Commercial Vehicle and Fleet
3.6. Covid-19 Impact Analysis
Chapter 4: Vehicle Electrification Market, by Product Type
4.1. Overview
4.3. Starter Motor
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Analysis by Country
4.4. Alternator
4.5. Electric Car Motors
4.6. Electric Water Pumps
4.7. Electric Oil Pump
4.8. Electric Vacuum Pump
4.9. Electric Fuel Pump
4.10. Electric Power Steering
4.11. Actuators
4.12. Start/Stop System
Chapter 5: Vehicle Electrification Market, by Sales Channel
5.1. Overview
5.2. Original Equipment Manufacturers (Oem)
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, by Region
5.2.3. Market Analysis by Country
5.3. Aftermarket
Chapter 6: Vehicle Electrification Market, by Vehicle Type
6.1. Overview
6.2. Internal Combustion Engine Vehicle
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast, by Region
6.2.3. Market Analysis by Country
6.3. Micro & Full Hybrid Vehicle
6.4. Plug-In Hybrid Electric Vehicle (Phev) & Battery Electric Vehicle (Bev)
Chapter 7: Vehicle Electrification Market, by Region
7.1. Overview
Chapter 8: Company Profiles:
- Aisin Seiki Co. Ltd.
- Continental AG
- Delphi Technologies
- Hitachi Automotive Systems, Ltd.
- Robert Bosch GmbH
- Zf Friedrichshafen AG
- Denso Corporation
- Borgwarner Inc.
- Magna International Inc.
- Johnson Electric Holdings Limited
For more information about this report visit https://www.researchandmarkets.com/r/kjwdve
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