
Vehicle Electrification Market by Product (Actuator, Electric Power Steering, Integrated Starter Generator), Hybridization (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle), Component Voltage, Vehicle Type - Global Forec
Description
Vehicle Electrification Market by Product (Actuator, Electric Power Steering, Integrated Starter Generator), Hybridization (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle), Component Voltage, Vehicle Type - Global Forecast 2024-2030
The Vehicle Electrification Market size was estimated at USD 93.65 billion in 2023 and expected to reach USD 103.43 billion in 2024, at a CAGR 10.53% to reach USD 188.84 billion by 2030.
Vehicle electrification is a broad term encompassing various technologies to reduce reliance on traditional internal combustion engines (ICE) for mobility. This initiative is primarily geared toward decreasing vehicle emissions, improving air quality, and reducing the environmental footprint associated with personal and commercial transportation. Electrification strategies include the incorporation of electric motors to either supplement or replace the ICE in vehicles. The stringent government regulations aiming to reduce carbon emissions, increased consumer awareness towards environmental sustainability, and advancements in battery technology propel the market growth. However, high initial costs and complexities associated with battery production and recycling may impede market growth. Nevertheless, advances in solid-state battery technology, wireless charging solutions, and integration of renewable energy systems with EV charging networks are expected to create potential growth opportunities for the market.
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Table of Contents
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Surge in adoption of fuel-efficient mobility solutions worldwide
- 5.1.1.2. Rising demand for clean roadmap and value-oriented solution with decreasing cost of EV production
- 5.1.1.3. Increase consumer awareness towards environmental sustainability
- 5.1.2. Restraints
- 5.1.2.1. High cost incurred in vehicle electrification
- 5.1.3. Opportunities
- 5.1.3.1. Stringent government emission regulation in developed countries
- 5.1.3.2. Technological advancements in solid-state battery coupled with evolution of power grid globally
- 5.1.4. Challenges
- 5.1.4.1. Lack of infrastructure for charging facilities with complexities associated with battery production and recycling
- 5.2. Market Segmentation Analysis
- 5.2.1. Component Voltage: Burgeoning adoption of low voltage (LV) range that ensures overall efficiency and sustainability
- 5.2.2. Vehicle Type: Evolving adoption vehicle electrification in commercial vehicles
- 5.3. Market Disruption Analysis
- 5.4. Porter’s Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
- 5.5. Value Chain & Critical Path Analysis
- 5.6. Pricing Analysis
- 5.7. Technology Analysis
- 5.8. Patent Analysis
- 5.9. Trade Analysis
- 5.10. Regulatory Framework Analysis
- 6. Vehicle Electrification Market, by Product
- 6.1. Introduction
- 6.2. Actuator
- 6.3. Electric Power Steering
- 6.4. Integrated Starter Generator
- 6.5. Liquid Heater PTC
- 6.6. Start or Stop System
- 6.7. Starter Motor & Alternator
- 7. Vehicle Electrification Market, by Hybridization
- 7.1. Introduction
- 7.2. Battery Electric Vehicle
- 7.3. Hybrid Electric Vehicle
- 7.4. Plug-in Hybrid Electric Vehicle
- 8. Vehicle Electrification Market, by Component Voltage
- 8.1. Introduction
- 8.2. High Voltage
- 8.3. Low Voltage
- 9. Vehicle Electrification Market, by Vehicle Type
- 9.1. Introduction
- 9.2. Commercial Vehicle
- 9.3. Passenger Vehicle
- 10. Americas Vehicle Electrification Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Vehicle Electrification Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Vehicle Electrification Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Toyota Announces USD 1.3 billion Investment For Electrification Efforts At Kentucky Facility
- 13.3.2. Evtec Completes JVM Castings Acquisition
- 13.3.3. JLR Accelerates Electrification With New pound 250 million State-Of-The-Art Future Energy Lab
- 13.4. Strategy Analysis & Recommendation
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
- FIGURE 1. VEHICLE ELECTRIFICATION MARKET RESEARCH PROCESS
- FIGURE 2. VEHICLE ELECTRIFICATION MARKET SIZE, 2023 VS 2030
- FIGURE 3. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, 2018-2030 (USD MILLION)
- FIGURE 4. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, BY REGION, 2023 VS 2030 (%)
- FIGURE 5. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 6. VEHICLE ELECTRIFICATION MARKET DYNAMICS
- FIGURE 7. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, BY PRODUCT, 2023 VS 2030 (%)
- FIGURE 8. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, BY PRODUCT, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 9. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, BY HYBRIDIZATION, 2023 VS 2030 (%)
- FIGURE 10. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, BY HYBRIDIZATION, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 11. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, BY COMPONENT VOLTAGE, 2023 VS 2030 (%)
- FIGURE 12. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, BY COMPONENT VOLTAGE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 13. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, BY VEHICLE TYPE, 2023 VS 2030 (%)
- FIGURE 14. GLOBAL VEHICLE ELECTRIFICATION MARKET SIZE, BY VEHICLE TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 15. AMERICAS VEHICLE ELECTRIFICATION MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 16. AMERICAS VEHICLE ELECTRIFICATION MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 17. UNITED STATES VEHICLE ELECTRIFICATION MARKET SIZE, BY STATE, 2023 VS 2030 (%)
- FIGURE 18. UNITED STATES VEHICLE ELECTRIFICATION MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 19. ASIA-PACIFIC VEHICLE ELECTRIFICATION MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 20. ASIA-PACIFIC VEHICLE ELECTRIFICATION MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 21. EUROPE, MIDDLE EAST & AFRICA VEHICLE ELECTRIFICATION MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 22. EUROPE, MIDDLE EAST & AFRICA VEHICLE ELECTRIFICATION MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 23. VEHICLE ELECTRIFICATION MARKET SHARE, BY KEY PLAYER, 2023
- FIGURE 24. VEHICLE ELECTRIFICATION MARKET, FPNV POSITIONING MATRIX, 2023
Pricing
Currency Rates