Global Vehicle Electrification Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Vehicle Electrification Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Product (Start/Stop System, 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, and Actuators), Hybridization (Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle, HEV, PHEV, and BEV), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Vehicle Electrification Market was valued at USD 98,098.7 million in 2023 and is expected to reach USD 208,758.8 million by 2031 while growing at a CAGR of 9.9% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global vehicle electrification market growth. Vehicle electrification involves integrating electric technologies into vehicles to reduce or eliminate dependence on traditional internal combustion engines fueled by fossil fuels. This transformative approach seeks to improve vehicle efficiency, environmental sustainability, and performance through the integration of diverse electric power sources.
Environmental concerns, emission regulations, and government incentives propel the growth of the vehicle electrification market. However, obstacles such as high initial costs and limited charging infrastructure may hinder its expansion.
Furthermore, the global vehicle electrification industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Product Analysis
The Global Vehicle Electrification Market is segmented among Start/Stop System, 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, and Actuators, based on Product. In 2023, Electric Vacuum Pump accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Hybridization Analysis
The Global Vehicle Electrification Market is segmented among Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle, HEV, PHEV, and BEV, based on Type. In 2023, Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Vehicle Electrification Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are Robert Bosch GmbH, Continental AG, Denso Corporation, Delphi Automotive PLC, Johnson Electric, Mitsubishi Electric Corporation, BorgWarner Inc., Magna International Inc., Aisin Seiki Co. Ltd., Johnson Control Inc., ZF Friedrichshafen AG, Valeo SA, JTEKT Corporation, Hitachi Automotive Systems Ltd., and Wabco Holdings Inc
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Vehicle Electrification Market Dynamics
Drivers
Restraints
Opportunity
4. Global Vehicle Electrification Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Vehicle Electrification Market Segmentation, By Product
Global Vehicle Electrification Market Share Analysis, By Product
Global Vehicle Electrification Market Growth Analysis, By Product
Global Vehicle Electrification Market Trends, By Product
o Start/Stop System
o Electric Power Steering
o Liquid Heater Ptc
o Electric Air Conditioner Compressor
o Electric Vacuum Pump
o Electric Oil Pump
o Electric Water Pump
o Starter Motor & Alternator
o Integrated Starter Generator
o Actuators
6. Global Vehicle Electrification Market Segmentation, By Hybridization
Global Vehicle Electrification Market Share Analysis, By Hybridization
Global Vehicle Electrification Market Growth Analysis, By Hybridization
Global Vehicle Electrification Market Trends, By Hybridization
o Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle
o HEV
o PHEV
o BEV
7. Global Vehicle Electrification Market Segmentation, By Region
Global Vehicle Electrification Market Share Analysis, By Region
Global Vehicle Electrification Market Growth Analysis, By Region
Global Vehicle Electrification Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
8. Competitive Landscape
Robert Bosch GmbH*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Continental AG
Denso Corporation
Delphi Automotive PLC
Johnson Electric
Mitsubishi Electric Corporation
BorgWarner Inc.
Magna International Inc.
Aisin Seiki Co. Ltd.
Johnson Control Inc.
ZF Friedrichshafen AG
Valeo SA
JTEKT Corporation
Hitachi Automotive Systems Ltd.
Wabco Holdings Inc.
*Similar analysis will be provided for each company listed above.
