Vehicle Electrification Market Trend

Vehicle electrification serves as an ideal solution for effective vehicle operations, due to less fuel cost, reduced emissions, and improved fuel economy.

OREGAON, PORTLAND, UNITED STATES , January 25, 2024 /EINPresswire.com/ -- Allied Market Research has recently released a report titled "Vehicle Electrification Market." According to the report, the global vehicle electrification industry is expected to reach a whopping $140.29 billion by 2027, from a value of $70.14 billion in 2019, with a commendable CAGR of 11.3% between 2020 and 2027. The report offers a comprehensive analysis of the current market trends and possible future growth opportunities, including key market segments, market dynamics, customer behavior, pricing factors, and projections. Furthermore, the report offers a detailed examination of the competitive landscape across various regions and the global market.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/2548

𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬:

Thе automotive sector is witnessing a growing demand for thе usage of 48-volt (48V) infrastructure, which is having a tremendous influence on thе progress of vehicle electrification. Integrating 48V technology into vehicles can lead to high performance, greater fuel efficiency, and reduced emissions.

Thе growing dеsirе for advancеd automotivе fеaturеs, which include start-stop systеms, rеgеnеrativе braking, and еlеctric powеr stееring, is basically drivеn by thе еscalating nеcеssity. Thеsе fеaturеs rеquirе additional еlеctrical powеr, which can bе better dеlivеrеd by a 48 V еlеctrical circuit. Whеn comparеd to thе traditional 12 V systеm, a 48 V systеm possеssеs supеrior powеr capability, еnabling thе assimilation of a grеatеr multitudе of еlеctrical componеnts.

Moreover, vehicle manufacturers have been compelled to discover inventive resolutions to decrease emissions and raise the efficiency of fuel owing to the stringent regulations on emissions and the global standards for fuel economy. The utilization of the 48V architecture allows for the integration of mild hybrid systems, which embody the fusion of a compact electric motor with an internal combustion engine. This configuration enables improved fuel efficiency by making use of regenerative braking, engine start-stop features, and electric power assistance.

Hence, the increasing need for a 48V architecture in vehicles is driving the sector of vehicle electrification. This advancement enables the integration of advanced features, improves the effectiveness of fuel consumption, and guarantees adherence to stringent emission regulations. The emergence of this trend highlights the industry's commitment to embracing electrification to create transportation solutions that are not just more eco-friendly but also more effective.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/vehicle-electrification-market/purchase-options

𝐓𝐡𝐞 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐜𝐚𝐫 𝐦𝐨𝐭𝐨𝐫𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟐𝟕

By product type, the electric car motors segment is expected to register the highest CAGR of 16.3% during the forecast period, due to adoption of the electrical vehicles across the globe. However, the electric power steering segment held the largest share in 2019, accounting for more than one-fourth of the global vehicle electrification market, owing to a cost-effective solution along with high compatibility across all vehicle types.

𝐓𝐡𝐞 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐛𝐮𝐬𝐭𝐢𝐨𝐧 𝐞𝐧𝐠𝐢𝐧𝐞 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭

By vehicle type, the internal combustion engine vehicle segment held the lion's share in 2019, contributing to more than 90% of the global vehicle electrification market, owing to existing fleet and trend of electrification. However, the plug-in hybrid electric vehicle (PHEV) & battery electric vehicle (BEV) segment is expected to portray the highest CAGR of 16.6% during the forecast period, due to adoption of the electrical vehicles and rise in support for green mobility across the globe.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜, 𝐟𝐨𝐥𝐥𝐨𝐰𝐞𝐝 𝐛𝐲 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚, 𝐭𝐨 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐛𝐲 𝟐𝟎𝟐𝟕

By region, the market across Asia-Pacific is anticipated to manifest the highest CAGR of 12.9% from 2020 to 2027. Moreover, the region held the largest share in 2019, accounting for nearly two-fifths of the market, owing to wide presence of the automotive manufacturers as well as availability of the cost-effective manufacturing solutions in the region. The global vehicle electrification market across North America is expected to register a CAGR of 11.2% during the forecast period.

𝐌𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬

CONTINENTAL AG
AISIN SEIKI Co., Ltd.
Hitachi Automotive Systems, Ltd.
Delphi Technologies
ZF FRIEDRICHSHAFEN AG
Robert Bosch GmbH
BorgWarner Inc.
Denso Corporation
Johnson Electric Holdings Limited.
Magna International Inc.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/2548

𝐊𝐞𝐲 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐃𝐢𝐬𝐜𝐮𝐬𝐬𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:

o What is the global vehicle electrification market’s growth rate?

o What are significant new developments in the global vehicle electrification market?

o What are the factors influencing the growth of the global vehicle electrification market?

o Who are the leading companies in the vehicle electrification market?

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/electric-vehicle-market - Electric Vehicle Market : Global Opportunity Analysis and Industry Forecast, 2021-2030

https://www.alliedmarketresearch.com/electric-bikes-market - Electric Bike Market : Global Opportunity Analysis and Industry Forecast, 2020-2030

https://www.alliedmarketresearch.com/pedelec-market - Pedelec Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/electric-mobility-scooter-market - Mobility Scooters Market : Global Opportunity Analysis and Industry Forecast, 2021-2030

David Correa
Allied Market Research
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