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Global Vehicle Electrification Market: By Product Type: Electric Oil Pump, Alternator, Electric Car Motors, Electric Water Pumps, Electric Fuel Pump, Actuators, Others; By Sales Channel; By Vehicle Type; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Vehicle Electrification Market Outlook

The global vehicle electrification market is expected to grow in the forecast period of 2022-2027 at a CAGR of 12.10% to reach USD 162.4 billion by 2027.

 

Global Vehicle Electrification Market

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Micro and Full Hybrid Vehicle Segment to Hold a Significant Share in the Global Vehicle Electrification Industry

Micro and full hybrid vehicles are anticipated to witness a high demand in the forecast period and are likely to take-over the conventional fossil fuel-driven vehicles. This can be attributed to the significant advantages offered by micro and full hybrid vehicles, which include affordability, environment-friendliness, regenerative braking system, lightweight, automatic start and stop systems, and higher resale value, among others. These benefits are expected to aid the growth of the segment in the forecast period.

 

The Asia Pacific Accounts for a Significant Share in the Market

The vehicle electrification industry in the Asia Pacific is driven by the thriving automotive industry in the region, owing to the rising demand for e-vehicles. The progress in product innovation in countries like China, India, South Korea, and Japan, among others is anticipated to boost the market growth in the forecast period. For instance, the latest models of electric vehicles are expected to hit the Indian markets in 2022.

 

Vehicle Electrification: Market Segmentation

Vehicle electrification is defined as a process in which a vehicle is powered through electricity. The conventional systems in a vehicle are replaced by electrical systems and all the components of the vehicle system are electrified, thereby propelling the engine. The use of vehicle electrification reduces the dependence on fossil fuels.

 

Global Vehicle Electrification Market By Vehicle Type

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Based on product type, the market can be segmented into:

  • Electric Oil Pump
  • Alternator
  • Electric Car Motors
  • Electric Water Pumps
  • Electric Fuel Pump
  • Actuators
  • Electric Power Steering
  • Electric Vacuum Pump
  • Start/Stop System

On the basis of sales channel, the market has been bifurcated into:

  • Aftermarket
  • Original Equipment Manufacturers (OEM)

The segmentation of the market based on vehicle type is as follows:

  • Micro and Full Hybrid Vehicle
  • Internal Combustion Engine Vehicle
  • Plug-in Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV)

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Vehicle Electrification Market By Region

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Rising Demand for Electric Vehicles to Boost the Growth of the Vehicle Electrification Industry

The increasing sales of electric vehicles owing to the rising disposable income, rising number of options, growing efforts to reduce the dependence of customers on fossil fuels, and stringent government regulations aimed at reducing carbon emission levels are driving the market. The increasing inclination of the private transportation sector towards vehicle electrification due to economic and climate concerns is anticipated to bolster the market in the forecast period. Moreover, the rising demand for 48 V systems owing to their ability to enhance the power transmission to components is likely to be a key driving factor in the market growth.

 

Key Industry Players in the Global Vehicle Electrification Market

The report gives a detailed analysis of the following key players in the global vehicle electrification market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Continental AG
  • Hitachi Automotive Systems, Ltd.
  • Aisin Seiki Co., Ltd.
  • Denso Corporation
  • Delphi Technologies
  • Robert Bosch GmbH
  • ZF Friedrichshafen AG
  • Johnson Electric Holdings Limited
  • Magna International Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter’s five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and
Forecast Market Analysis by Segment- Product Type, Sales Channel, Vehicle Type, Region
Breakup by Product Type Electric Oil Pump, Alternator, Electric Car Motors, Electric Water Pumps,
Electric Fuel Pump, Actuators, Electric Power Steering, Electric Vacuum Pump, Start/Stop System
Breakup by Sales Channel Aftermarket, Original Equipment Manufacturers (OEM)
Breakup by Vehicle Type Micro and Full Hybrid Vehicle, Internal Combustion Engine Vehicle, Plug-in Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV)
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Continental AG, Hitachi Automotive Systems, Ltd., Aisin Seiki Co., Ltd.,
Denso Corporation, Delphi Technologies, Robert Bosch GmbH, ZF Friedrichshafen AG, Johnson Electric Holdings Limited, Magna International Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Vehicle Electrification Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Vehicle Electrification Historical Market (2017-2021) 
    8.3    Global Vehicle Electrification Market Forecast (2022-2027))
    8.4    Global Vehicle Electrification Market by Product Type
        8.4.1    Electric Oil Pump
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021) 
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Alternator
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021) 
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Electric Car Motors
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021) 
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Electric Water Pumps
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2017-2021) 
            8.4.4.3    Forecast Trend (2022-2027)
        8.4.5    Electric Fuel Pump
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2017-2021) 
            8.4.5.3    Forecast Trend (2022-2027)
        8.4.6    Actuators
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2017-2021) 
            8.4.6.3    Forecast Trend (2022-2027)
        8.4.7    Electric Power Steering
            8.4.7.1    Market Share
            8.4.7.2    Historical Trend (2017-2021) 
            8.4.7.3    Forecast Trend (2022-2027)
        8.4.8    Electric Vacuum Pump
            8.4.8.1    Market Share
            8.4.8.2    Historical Trend (2017-2021) 
            8.4.8.3    Forecast Trend (2022-2027)
        8.4.9    Start/Stop System
            8.4.9.1    Market Share
            8.4.9.2    Historical Trend (2017-2021) 
            8.4.9.3    Forecast Trend (2022-2027)
    8.5    Global Vehicle Electrification Market by Sales Channel
        8.5.1    Aftermarket
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021) 
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Original Equipment Manufacturers (OEM)
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021) 
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Vehicle Electrification Market by Vehicle Type
        8.6.1    Micro and Full Hybrid Vehicle
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021) 
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Internal Combustion Engine Vehicle
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021) 
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Plug-in Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV)
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021) 
            8.6.3.3    Forecast Trend (2022-2027)
    8.7    Global Vehicle Electrification Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021) 
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021) 
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021) 
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021) 
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021) 
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    Continental AG
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Hitachi Automotive Systems, Ltd.
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    Aisin Seiki Co., Ltd.
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Denso Corporation
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    Delphi Technologies
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Robert Bosch GmbH
            13.2.6.1    Company Overview
            13.2.6.2    Product Portfolio
            13.2.6.3    Demographic Reach and Achievements
            13.2.6.4    Certifications
        13.2.7    ZF Friedrichshafen AG
            13.2.7.1    Company Overview
            13.2.7.2    Product Portfolio
            13.2.7.3    Demographic Reach and Achievements
            13.2.7.4    Certifications
        13.2.8    Johnson Electric Holdings Limited
            13.2.8.1    Company Overview
            13.2.8.2    Product Portfolio
            13.2.8.3    Demographic Reach and Achievements
            13.2.8.4    Certifications
        13.2.9    Magna International Inc.
            13.2.9.1    Company Overview
            13.2.9.2    Product Portfolio
            13.2.9.3    Demographic Reach and Achievements
            13.2.9.4    Certifications
        13.2.10    Others
14    Industry Events and Developments


Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment


List of Key Figures and Tables

1.    Global Vehicle Electrification Market: Key Industry Highlights, 2017 and 2027
2.    Global Vehicle Electrification Historical Market: Breakup by Product Type (USD Billion), 2017-2021
3.    Global Vehicle Electrification Market Forecast: Breakup by Product Type (USD Billion), 2022-2027
4.    Global Vehicle Electrification Historical Market: Breakup by Sales Channel (USD Billion), 2017-2021
5.    Global Vehicle Electrification Market Forecast: Breakup by Sales Channel (USD Billion), 2022-2027
6.    Global Vehicle Electrification Historical Market: Breakup by Vehicle Type (USD Billion), 2017-2021
7.    Global Vehicle Electrification Market Forecast: Breakup by Vehicle Type (USD Billion), 2022-2027
8.    Global Vehicle Electrification Historical Market: Breakup by Region (USD Billion), 2017-2021
9.    Global Vehicle Electrification Market Forecast: Breakup by Region (USD Billion), 2022-2027
10.    North America Vehicle Electrification Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    North America Vehicle Electrification Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Europe Vehicle Electrification Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Europe Vehicle Electrification Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Asia Pacific Vehicle Electrification Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Asia Pacific Vehicle Electrification Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Latin America Vehicle Electrification Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Latin America Vehicle Electrification Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Middle East and Africa Vehicle Electrification Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Middle East and Africa Vehicle Electrification Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Global Vehicle Electrification Market Structure

Key Questions Answered in the Report

The market is estimated to grow at a CAGR of 12.10% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 162.4 billion by 2027.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major drivers of the industry, such as the thriving automotive industry in emerging economies, rapid technological advancements, and the stringent regulations by the government to reduce carbon emission levels, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the growing R&D activities by the major automotive players to provide efficient electrification solutions.

Electric oil pump, alternator, electric car motors, electric water pumps, electric fuel pump, actuators, electric power steering, electric vacuum pump, and start/stop system are the major product types included in the market report.

Aftermarket and original equipment manufacturers (OEM) are the different sales channels of the product.

Micro and full hybrid vehicle, internal combustion engine vehicle, and plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV) are the significant vehicle types included in the market report.

The major players in the industry are Continental AG, Hitachi Automotive Systems, Ltd., Aisin Seiki Co., Ltd., Denso Corporation, Delphi Technologies, Robert Bosch GmbH, ZF Friedrichshafen AG, Johnson Electric Holdings Limited, and Magna International Inc., among others.

Analyst Review

The global vehicle electrification market is being driven by the rising demand for vehicle electrification in the automotive industry. Aided by the growing competition between the major electric vehicle manufacturers, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 12.10%. The market is projected to reach USD 162.4 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product type, the market is divided into electric oil pump, alternator, electric car motors, electric water pumps, electric fuel pump, actuators, electric power steering, electric vacuum pump, and start/stop system. On the basis of sales channel, the market is divided into aftermarket and original equipment manufacturers (OEM). The major regional markets for vehicle electrification are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Continental AG, Hitachi Automotive Systems, Ltd., Aisin Seiki Co., Ltd., Denso Corporation, Delphi Technologies, Robert Bosch GmbH, ZF Friedrichshafen AG, Johnson Electric Holdings Limited, and Magna International Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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