Market Highlights: Vehicle electrification refers to a range of technologies that use electricity to propel a vehicle. Advances in electrified mobility were emerging at breakneck speed as companies raced to develop new ways to move the masses. Global sales of electric and plug-in hybrid cars increased by 54 percent in 2017 to touch 1.15 million units. According to the International Council on Clean Transportation (ICCT), the total sum to global annual sales of electric vehicle is more than 3 million vehicles in 2020 and about 10 million by 2025. The market study is being classified by Type (Start/Stop System, Electric Power Steering (EPS), Electric Air-Conditioner Compressor, Electric Vacuum Pump, Electric Oil Pump, Electric Water Pump, Electric Mirror, Liquid Heater PTC, Integrated Starter Generator (ISG), Starter Motor & Alternator and Actuators), by Application (Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle, Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV)) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Key Players: The prominent players in the Vehicle Electrification are Robert Bosch GmbH (Germany), Continental AG (Germany), Delphi Automotive PLC (United Kingdom), Denso Corporation (Japan), Hitachi Electric (Japan), Johnson Electric (Hong Kong), Mitsubishi Electric (Japan), Borgwarner (United States), Magna (Canada), Aisin (Japan) and ZF Friedrichshafen (Germany).
Major Market Development Highlights In April 2019, Magna announced that it has completed the acquisition of VIZA Geca SL, a Spain-based supplier of seat structures and related systems. In April 2017, Mitsubishi Electric Corporation announced that it has developed an ultra-compact silicon carbide (SiC) inverter for hybrid vehicles. It is compatible with two-motor hybrid systems used in HEVs. The company will proceed to develop it for mass production, with the aim of commercializing it around 2021.
Key Questions Answered in the Report What will the Vehicle Electrification Market size and the growth rate be in Future? What are the key factors driving the Vehicle Electrification Market? What are the key market trends and macro-economic impacting the growth of the Vehicle Electrification Market? What are the challenges to market growth? Who are the key vendors in the Vehicle Electrification Market? What are the market opportunities and threats faced by the vendors in the Vehicle Electrification Market? Trending factors influencing the market shares of the Vendors. What are the key outcomes of the five forces analysis of the Vehicle Electrification Market?
Research Methodology: The top-down and bottom-up approaches are used to estimate and validate the size of the Global Vehicle Electrification market. In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Vehicle Electrification market. In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc. Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Vehicle Electrification Suppliers, Raw material manufacturers of vehicle electrification components Automotive OEMs, Traders and Distributors, Research Institutes and Others. This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc. Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.