The global vehicle electrification is forecast to reach USD 129.50 Billion by 2026, according to a new report by Reports and Data. The is projected to witness a considerable growth during the forecast period. The edifice for the growth of the is enhanced vehicle efficiency and performance due to its electrification. The positive impact on the functioning of vehicles has resulted in the growing acceptance of the technology among the users. As a result of the positive impact of electrification on the performance of vehicles, an increasing number of players are introducing new models of electric vehicles like Toyota is planning to launch Toyota BEV range by 2025. Such initiatives by players are propelling the growth of the. Furthermore, the governments of different nations are providing continuous support for vehicle electrification. As an instance, under federal tax incentives, Internal Revenue Code [IRC] §30D plug-in electric vehicles are entitled to a credit of USD 2,500 to USD 7,500 per vehicle, as per the vehicle's battery capacity. Such support by government of different nations have a positive impact on the overall growth of the.
In regards to region, North America can be seen to occupy a prominent position. Factors like rising awareness about vehicle emissions, formulation of associated acts by the government like Clean Air Act [US], and the presence of significant players like Ford, contributes to the share occupied by this region.
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Table of Content:
Chapter 1. Synopsis1.1. Definition1.2. Research Scope & Premise1.3. Methodology1.4. Estimation TechnologyChapter 2. Executive Summary2.1. Summary Snapshot, 2018-2026Chapter 3. Indicative MetricsChapter 4. Vehicle Electrification Segmentation & Impact Analysis4.1. Vehicle Electrification Segmentation Analysis4.2. Industrial Outlook4.2.1. indicators analysis4.2.2. drivers analysis18.104.22.168. Increasing emphasis on reducing emission from commercial vehicles22.214.171.124. The elevating demand for 48v Architecture126.96.36.199. Government initiative and support to promote electric vehicles4.2.3. restraints analysis188.8.131.52. Issues with formulating Fail-Safe Electrical and Electronic Components184.108.40.206. Complexities in attaining optimum Power-To-Weight Ratio4.3. Technological Insights4.4. Regulatory Framework4.5. ETOP Analysis4.6. Porter's Five Forces Analysis4.7. Competitive Metric Space Analysis4.8. Price Trend Analysis…
The key questions answered in the report:
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Further key findings from the report suggest
- The Vehicle Electrification held a share of USD 60.93 Billion in the year 2018 and forecasted to grow at a rate of 9.3% during the forecast period.
- In regards to Component, the Electric Power Steering (EPS) segment generated the highest revenue of USD 12.19 Billion in 2018, with a growth rate of 8.8% during the forecast period. Its various advantages like energy efficiency, reduced mechanical complexities, and scope of easily altering and simpler interface, has resulted in its elevated preference among end-users as compared to other steering systems that contribute to the revenue generated by the EPS
- In the context of Hybridization, the Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle yielded the highest revenue of USD 33.51 Billion in 2018, with a CAGR of 8.7% during the forecast period. Various advantages associated with ICE like high power to weight ratio, smaller engine size as compared to external combustion engines, safety associated with operation results in its elevated preference among buyers that contributes to the segment's generated revenue.
- In regards to Vehicle Type, the Commercial Vehicle segment is projected to witness a faster growth rate of 17.3% during the forecast period, which is expected to occupy 9.0% of the by 2026. The growth rate experienced by the segment is attributed to the fact that OEMs are giving high emphasis on reduction of emissions from these vehicles that have resulted in rising demand for electrification of commercial vehicles.
- In context to region, Europe occupies the second-largest share of 22.0% in 2018, with a CAGR of 9.1% during the forecast period. The fact that this region is continuously emphasizing on the reduction of greenhouse gas emission and slowly working to attain the target of net-zero by 2050 is propelling the growth of the in this region.
- Key participants include Continental, Delphi, Denso, Bosch, Borgwarner, Mitsubishi, Magna, Johnson Electric, Johnson Controls, and Aisin Seiki.
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For the purpose of this report, Reports and Data have segmented the Global Vehicle Electrification based on Component, Hybridization, Voltage, Vehicle Type, and Region:
Component Type Outlook (Revenue, USD Billion; 2016-2026)
- Electric Power Steering (EPS)
- Liquid Heater PTC
- Electric Vacuum Pump
- Electric Air Conditioner Compressor
- Electric Water Pump
- Electric Oil Pump
- Starter Motor
- Integrated Starter Generator (ISG)
Hybridization Type Outlook (Revenue, USD Billion; 2016-2026)
- Hybrid Electric Vehicle (HEV)
- Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Voltage Type Outlook (Revenue, USD Billion; 2016-2026)
Vehicle Type Outlook (Revenue, USD Billion; 2016-2026)
- Passenger Vehicles
- Commercial Vehicles
Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
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