The global vehicle electrification market is anticipated to reach USD 125.12 billion by 2025, according to a new report by Grand View Research, Inc. The growing demand for electrification in transport automobiles is increasing owing to social influence and acceptability to shift in favor of electrification via lowered usage of petroleum to energy-efficient vehicles. Moreover, regional legislation policies and regulatory efforts globally on strengthening CO2 emissions standard have been immensely contributing to the growth of the market.
Integrated
Starter Generator (ISG) product is expected to gain traction over the forecast
period. The application of ISG in the vehicles helps the engine to instant and
silently restart after the idle or traffic stop when the engines shut down to
reduce emission and save fuel. ISG achieves vibration and noise-reduced
operation improving the automobile comfort for the user. Further, ISG optimizes
the electric energy by reducing the load of the engine which further drives the
content of an electronic solution in the vehicle. The integrated starter
generator in the automobile has significant influence to start the engine under
extremely low-temperature conditions.
The
demand for integrated started generator product type was valued at USD 4.97
billion in 2016 and is expected to reach over USD 11.16 billion by 2025.
The
internal combustion engine (ICE) & micro-hybrid vehicle is one of the
largest segment in hybridization type. The growth of ICE & micro-hybrid
automobiles is attributed to mechanical integration which yields significant
fuel economy when it is idle in traffic or at a signal. Moreover, to meet the
growing environmental challenges which are posed by several emission
legislations automakers have developed various eco-solutions in the
conventional ICE.
Increasing
user demand for eco-friendly solutions and stringent emission regulations are a
few key factors that are expected to impact the growth of internal combustion
engine & micro-hybrid vehicles in the market over the forecast period. The
internal combustion engine & micro-hybrid vehicle segment is anticipated to
grow at a CAGR of 7.8% from 2017 to 2025.
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Vehicle
Electrification Market Report Highlights
- The global vehicle
electrification market accounted for USD 58.92 billion in 2016 and is
expected to grow at a CAGR of 9.1% from 2017 to 2025
- Internal Combustion Engine
(ICE) & Micro-Hybrid Vehicle emerged as the largest segment in 2016
and is estimated to generate revenue of over USD 70.68 billion by 2025.
- The BEV hybridization
segment is anticipated to witness moderate growth over the next eight
years.
- The electric vacuum pump
within the product segment is estimated to reach over USD 17.75 billion by
2025
- The Asia Pacific market is
projected to witness substantial growth over the next decade owing to the
growing adoption of vehicle electrification methods among the automobile
sector on a large scale. The regional market is expected to grow at a CAGR
of 8.5% from 2017 to 2025.
- Key players include Robert
Bosch GmbH, Continental AG, Denso Corporation, Delphi Automotive PLC,
Johnson Electric, and Mitsubishi Electric Corporation, accounting for a
majority share of the overall market in 2016
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Vehicle
Electrification Market Segmentation
Grand View Research has segmented
the vehicle electrification market on the basis of product, hybridization,
and region:
Product Outlook
(Revenue, USD Million, 2014 - 2025)
- Start/Stop System
- Electric Power Steering
(EPS)
- Liquid Heater Ptc
- Electric Air Conditioner
Compressor
- Electric Vacuum Pump
- Electric Oil Pump
- Electric Water Pump
- Starter Motor &
Alternator
- Integrated Starter Generator
(ISG)
- Actuators
Hybridization
Outlook (Revenue, USD Million, 2014 - 2025)
- Internal Combustion Engine
(ICE) & Micro-Hybrid Vehicle
- Hybrid Electric Vehicle
(HEV)
- Plug-In Hybrid Electric
Vehicle (PHEV)
- Battery Electric Vehicle
(BEV)
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- The U.S.
- Canada
- Europe
- Germany
- The U.K.
- Asia Pacific
- China
- India
- Japan
- Rest of the World
- Brazil
- Mexico
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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