Vehicle Electrification Market SWOT Analysis and Key Business Strategies Featuring Continental Ag, Delphi, Volkswagen.
2021 - 2028 Global Vehicle Electrification Market
The Global Vehicle Electrification Market is accounted for $87.98 billion in 2021 and is expected to reach $194.50 billion by 2028 growing at a CAGR of 12.0% during the forecast period. Vehicle Electrification refers to a vehicle with electrical means of propulsion as well as electricity paying a major role in components functionality. It covers many aspects of electrification in the such as start/stop systems, electric power steering, electric vacuum pump, electric oil pump, and many other accessories which utilize mode of electric propulsion as well as help user to gain improved fuel economy when installing in conventional ICE vehicles. The integrated starter generator (ISG) segment is estimated to have a lucrative growth, due to increasing greenhouse gas emissions from conventional vehicles have fuelled the demand for advanced vehicles that are being integrated with the ISG system, which helps to curb the emissions from the vehicle. North America is projected to hold the largest market share during the forecast period, due to the growing charging infrastructure and significant investments by OEMs in the development of vehicle electrification. Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the proliferation of electric vehicles and increased electrification of commercial vehicles.
Some of the key players profiled in the Vehicle Electrification Market include Aisin Seiki Co., Ltd., Borgwarner Inc, Continental Ag, Delphi Technologies, Denso Corporation, Ford Motors Company, Friedrichshafen Ag, Hitachi Automotive Systems, Ltd, Honda Motors Co. Ltd, Johnson Electric Holdings Limited, Magna International Inc, Robert Bosch Gmbh, Suzuki Motor Corporation, Toyota Motors Corporation, Volkswagen, and XL Fleet Corp.
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