We are monitoring the impact of COVID-19 on Vehicle Electrification Market Get in touch with us for detailed analysis Know More
Pulished Date April, 2021
ID: 9846
Share on
Share on

Vehicle Electrification Market segmentation By Product Type (Start-Stop, Electric Power Steering, Liquid Heater Ptc, Electric Air Conditioner Compressor, Electric Vacuum Pump, Electric Oil Pump, Electric Water Pump, Starter Motor, Alternator, Integrated Starter Generator, Actuator), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Truck, Bus), By Degree of Hybridization (Internal Combustion Engine & Micro Hybrid Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Battery Electric Vehicle, 48V Vehicle) - Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2021-2026

Pulished: April, 2021
ID: 9846
Pages: 175

Market Overview:

The global Vehicle Electrification Market is predicted to grow at a CAGR of 9.1% to succeed in USD 142.1 billion by 2027 from USD 71.0 billion in 2021.

Electric vehicles are designed so as to work on electricity, and the consumption of fossil fuels is decreased. Electric cars also are likely to assist the aim of low carbon emissions from vehicles. OEMs across the planet are taking efforts to develop and introduce electric vehicles on roads at the earliest.

Adoption of unpolluted power generation sources in such vehicle significantly impacts the environment with reduced harmful emissions of tailpipes also because of the power system. Additionally, the electrification process incurs less operating expense and requires low maintenance because it eliminates the utilization of lubricant or coolant within the vehicle. The mechanical integration through electrification improves the general working and efficiency, which is anticipated to spice up the market over the foreseen phase. 

Recent Developments:

· Bosch showcases a variety of personalized connected solutions to rework the longer term of mobility. Bosch's comprehensive portfolio of future-ready mobility products and services are in line with the market interest for advanced safety features and BS-VI compliant vehicles.

· Bosch is joining electric-vehicle batteries with the cloud base system. Its data-based services mean they will substantially improve batteries' performance and extend their service life.

· Automotive component producer Continental AG will start production of its very first fully integrated axle drive in China.

· Continental, the German car parts group, is heading towards electric vehicles because it looks to position itself for a rapid climb in cleaner transportation targeted declining global production of cars and trucks.

Drivers and Restraints of Vehicle Electrification Market:


The global vehicle electrification market has seen a severe rate of growth due to the considerable shifting of the technologies of the automotive market from hydrocarbon energy to electricity. The need for sunshine weighted automobiles to enhance fuel efficiency and reduced carbon emissions drives the expansion of this market. However, the efforts put in by the varied vital players of this marketplace for the event of this technology results in the exponential growth of the market.


However, it's hard to exchange an energy source like gasoline of the oil & gas sector with electricity thanks to the high power generation capacity of the previous, which limits the market growth.

Market Segmentation:

By Product Type:

  • Start-stop
  • 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)
  • Actuator

The electric power steering witnessed high interest in 2016 and is anticipated to grow at a CAGR of 6.3% over the foreseen phase. Electric power steering (EPS) demanding benefits including advanced technology displaces hydraulic guide with a computer-controlled motor within the vehicle. EPS are smaller and lighter than HPS because it eliminates various conventional components and thus, end in an energy-efficient solution for automobiles. Lack of reliability in hydraulic power steering further support to the growing of EPS in this market. However, the electric pump in the merchandise type segment is predicted to witness an enormous CAGR of 10.7% over the foreseen phase. Useful mechanical integration fuels electrical pump applications in the automotive. This results in oil lubrication to be equally distributed amongst the required area of the engine also because of the different parts of the auto. 

By Vehicle Type:

  • Passenger Car
  • Light Commercial Vehicle
  • Truck
  • Bus

By Degree of Hybridization:

  • Internal Combustion Engine (ICE) & Micro hybrid vehicle
  • Hybrid electric vehicle (HEV)
  • Plug-in hybrid electric vehicle (PHEV)
  • Battery electric vehicle (BEV)
  • 48 V vehicle

Plug-In Hybrid Electric Vehicle (PHEV) is anticipated to expand at a comparatively higher CAGR of 15.6 % than other hybridization types over the foreseen phase. The current technology and mechanical integration prospect within the automobiles deliver the consumer with an optimum desired solution for efficiency. Rising demand for PHEV is attributed to grow consumer preference on benefits of fuel efficiency and low down the operational and maintenance cost of the vehicle.

Battery Electric Vehicle (BEV) is predicted to grow at a healthy CAGR of 14.2% over the foreseen phase. The expansion within the segment is owed to changing environmental standards across all nations governments. The aim to attenuate the impact of worldwide carbon footprints is further anticipated to fuel the demand of the market within the industry.

Vehicle Electrification Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan
  4. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  5. Middle East and Africa

a. Middle East

b. Africa

North America is predicted to be the fastest growing marketplace for vehicle electrification. The expansion in this region is propelled by growing charging infrastructure and significant investments by OEMs within the development of auto electrification. The US is about to dominate the North American market, holding the very best market share in future. Thus, North America is predicted to be the fastest-growing market during the foreseen phase.

Europe is projected to account for the second-largest marketplace for vehicle electrification. The government within the region is concentrated to practice sustainable development within the infrastructure growth which has led the OEM of auto electrification to expand their business in the major countries like Germany, France, Italy and the U.K.

The market in Asia Pacific was estimated at USD 31.71 billion in 2016. The rising automotive industry in countries like India and China due to the demand for vehicle supplements the expansion for the industry. However, the mixture of rising population in countries and increasing per capita income stimulates the demand for the private transport automobile that's supportive to a sustainable environment.

Key Players of Market:

Major players operating in the global vehicle electrification market are Robert Bosch GmbH, Continental AG, Denso Corporation, Delphi Automotive PLC, Johnson Electric Holdings Ltd., Volkswagen, Toyota Motor Corporation, Honda Motor Co. Ltd, Mitsubishi Electric Corporation, and TRW Automotive Holdings Corp.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Vehicle Electrification Market, By Product Type               

                    6.1.1 Start-Stop     

                    6.1.2 Electric Power Steering       

                    6.1.3 Liquid Heater Ptc     

                    6.1.4 Electric Air Conditioner Compressor        

                    6.1.5 Electric Vacuum Pump        

                    6.1.6 Electric Oil Pump     

                    6.1.7 Electric Water Pump 

                    6.1.8 Starter Motor 

                    6.1.9 Alternator      

                    6.1.10 Integrated Starter Generator       

                    6.1.11 Market Size Estimations & Forecasts (2019-2024)      

                    6.1.12 Y-o-Y Growth Rate Analysis       

                    6.1.13 Market Attractiveness Index       

          6.2 Vehicle Electrification Market, By Vehicle Type                

                    6.2.1 Passenger Car

                    6.2.2 Light Commercial Vehicle   

                    6.2.3 Truck  

                    6.2.4 Bus     

                    6.2.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.6 Y-o-Y Growth Rate Analysis         

                    6.2.7 Market Attractiveness Index         

          6.3 Vehicle Electrification Market, By Degree of Hybridization                   

                    6.3.1 Internal Combustion Engine & Micro Hybrid Vehicle     

                    6.3.2 Hybrid Electric Vehicle        

                    6.3.3 Plug-In Hybrid Electric Vehicle      

                    6.3.4 Battery Electric Vehicle       

                    6.3.5 48V Vehicle   

                    6.3.6 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.7 Y-o-Y Growth Rate Analysis         

                    6.3.8 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     



                    7.2.2 By Product Type       

                    7.2.3 By Vehicle Type        

                    7.2.4 By Degree of Hybridization 

          7.3 Europe             

                    7.3.1 By Country     






                     Rest of Europe

                    7.3.2 By Product Type       

                    7.3.3 By Vehicle Type        

                    7.3.4 By Degree of Hybridization 

          7.4 Asia Pacific                 

                    7.4.1 By Country     




                     South Korea

                     South East Asia

                     Australia & NZ

                     Rest of Asia-Pacific

                    7.4.2 By Product Type       

                    7.4.3 By Vehicle Type        

                    7.4.4 By Degree of Hybridization 

          7.5 Latin America             

                    7.5.1 By Country     




                     Rest of Latin America

                    7.5.2 By Product Type       

                    7.5.3 By Vehicle Type        

                    7.5.4 By Degree of Hybridization 

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                     Middle East


                    7.6.2 By Product Type       

                    7.6.3 By Vehicle Type        

                    7.6.4 By Degree of Hybridization 

8. Key Player Analysis                           

          8.1 Robert Bosch GmbH              

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Continental AG           

          8.3 Denso Corporation                

          8.4 Delphi Automotive PLC         

          8.5 Johnson Electric Holdings Ltd          

          8.6 Volkswagen                

          8.7 Toyota Motor Corporation               

          8.8 Honda Motor Co. Ltd            

          8.9 Mitsubishi Electric Corporation                  

          8.10 TRW Automotive Holdings Corp               

9. Market Outlook & Investment Opportunities                     


          List of Tables          

          List of Figures                  

  • Global and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms By Cutting Systems and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Vehicle Electrification Market By Region, From 2021-2026 ( USD Billion )
  2. Global Vehicle Electrification Market By Product Type, From 2021-2026 ( USD Billion )
  3. Global Start-Stop Market By Region, From 2021-2026 ( USD Billion )
  4. Global Electric Power Steering Market By Region, From 2021-2026 ( USD Billion )
  5. Global Liquid Heater Ptc Market By Region, From 2021-2026 ( USD Billion )
  6. Global Electric Air Conditioner Compressor Market By Region, From 2021-2026 ( USD Billion )
  7. Global Electric Vacuum Pump Market By Region, From 2021-2026 ( USD Billion )
  8. Global Electric Oil Pump Market By Region, From 2021-2026 ( USD Billion )
  9. Global Electric Water Pump Market By Region, From 2021-2026 ( USD Billion )
  10. Global Starter Motor Market By Region, From 2021-2026 ( USD Billion )
  11. Global Alternator Market By Region, From 2021-2026 ( USD Billion )
  12. Global Integrated Starter Generator Market By Region, From 2021-2026 ( USD Billion )
  13. Global Vehicle Electrification Market By Vehicle Type, From 2021-2026 ( USD Billion )
  14. Global Passenger Car Market By Region, From 2021-2026 ( USD Billion )
  15. Global Light Commercial Vehicle Market By Region, From 2021-2026 ( USD Billion )
  16. Global Truck Market By Region, From 2021-2026 ( USD Billion )
  17. Global Bus Market By Region, From 2021-2026 ( USD Billion )
  18. Global Vehicle Electrification Market By Degree of Hybridization, From 2021-2026 ( USD Billion )
  19. Global Internal Combustion Engine & Micro Hybrid Vehicle Market By Region, From 2021-2026 ( USD Billion )
  20. Global Hybrid Electric Vehicle Market By Region, From 2021-2026 ( USD Billion )
  21. Global Plug-In Hybrid Electric Vehicle Market By Region, From 2021-2026 ( USD Billion )
  22. Global Battery Electric Vehicle Market By Region, From 2021-2026 ( USD Billion )
  23. Global 48V Vehicle Market By Region, From 2021-2026 ( USD Billion )

Please wait. . . . Your request is being processed


$ 1234 4255

Click for Request Sample