Increasing demand for reliable electric systems in vehicles drives Vehicle Electrification Market

The vehicle electrification market is projected to grow at a CAGR of 8.17% from 2017 to 2022, to reach a market size of USD 92.59 billion by 2022. Requirement for light weighting to achieve improved fuel efficiency and reduced tail-pipe emissions as well as increased demand for safety, comfort, and luxury are the key factors influencing the demand for vehicle electrification during the forecast period.

“Vehicle Electrification Market, by Product (Start-Stop, PTC, EPS, Electric Air-Conditioner, ISG, Starter Motor, Alternator, Actuator, Electric Pump-Vacuum, Oil & Water), 48V Mild-Hybrid, Degree of Hybridization, and Vehicle Type–Global Forecast to 2022”

Download our free PDF Brochure and gain crucial industry insights that will help your business grow:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=224946587

Expansion is a key strategy adopted by the top players to gain traction in the market. For instance, Robert Bosch GmbH (Germany) has established a new facility in Queretaro, Mexico, which represents the first automotive steering division operations in Mexico by Bosch Group. Likewise, Delphi's electrical and electronic architecture business began the construction of a new plant in Jingzhou, China. It will cater to the Chinese market and will begin its operation by October 2017.

Request for free Customization:

https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=224946587

New product development is the second most widely followed strategy in the market. For instance, Delphi Automotive PLC (U.K.) has developed a new 48-volt mild hybrid solution to meet emission regulations and minimize the engine load, leading to decreased emissions & improved efficiency. Johnson Electric launched a high power electric power steering motor to provide high steering power and low cogging torque through innovative brush motor technology. Other companies that adopted the strategy of new product development include Continental AG (Germany) and Johnson Electric (Hong Kong).

Electric vacuum pump is estimated to be the fastest growing segment in the vehicle electrification market, by product type. The growth of this segment is driven by the increased adoption of 48V mild-hybrid system. Asia-Oceania and North America are estimated to be the leading markets for the electric vacuum pump market. Stringent emission norms and increasing demand for a reliable electric system in these regions help to create new revenue pockets for the vehicle electrification market. Countries such as India and China, who are the leaders in global vehicle production, have plans to upgrade their regulations equivalent to Euro 6 by 2020. This would drive the demand for electric vacuum pump in these markets, as the technology has benefits over mechanical vacuum pump.

 Request for sample:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=224946587

A key factor restraining the growth of market is the high cost of electric systems and components. The cost of electric vehicle is still high despite the advancements in battery technology and incentives provided by the governments. Cost has been a major obstacle to the widespread of EV market. The vehicle electrification market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the Market are Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC(U.K.), Johnson Electrics (Hong Kong).

Search related report:

Connected Truck Market by Range (DSRC and Cellular), Service (Fleet Management and Cybersecurity & Updates), Component (Hardware and Software), Communication (V2V, V2I, and V2C), Vehicle (LCV and HCV), and Region - Global Forecast to 2022

Transfer Case Marketby Drive Type (Chain, Gear Driven), Shift Type (Electronic, Manual), Type (AWD, 4WD), Off-Highway (Construction Equipment, Farm Tractor), Ice & Hybrid Vehicle (Passenger Car, LCV, HCV, HEV, PHEV), and Region - Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441