Vehicle Electrification Market, By Product Type, By End-Use, By Geography

Description

Global Vehicle Electrification Market is estimated to be valued at USD 122.98 Bn in 2025 and is expected to reach USD 255.48 Bn by 2032, growing at a compound annual growth rate (CAGR) of 11.0% from 2025 to 2032.

Report Coverage		Report Details
Base Year:	2024	Market Size in 2025:	USD 122.98 Bn
Historical Data for:	2020 To 2024	Forecast Period:	2025 To 2032
Forecast Period 2025 to 2032 CAGR:	11.00%	2032 Value Projection:	USD 255.48 Bn

Figure. Vehicle Electrification Market Share (%), By Region 2025

Report Description:

Global vehicle electrification market is expected to witness growth significantly over the next decade. Factors such as rising environmental concerns, strict emission norms, and decreasing battery prices are driving automakers to shift their focus towards electrified vehicles. Various governments around the world are also promoting electric vehicles through fiscal incentives and rebates to reduce dependence on fossil fuels. According to estimates, electrified vehicles which include hybrids, plug-in hybrids and battery electric vehicles will account for over 30% of total new vehicle sales by 2030. Both passenger as well as commercial vehicles are expected to undergo electrification at a rapid pace. Startups and new players are introducing innovative technologies that are enabling faster adoption of electric vehicles.

Market Dynamics:

The global vehicle electrification market is experiencing robust growth, driven by various factors. Stringent emission regulations implemented by governments worldwide, coupled with a growing awareness of the environmental impact of vehicles, are key catalysts for this trend. Decreasing battery costs and increased investments by Original Equipment Manufacturers (OEMs) further contribute to market expansion. Despite these positive drivers, challenges such as the limited driving range of electric vehicles and an underdeveloped charging infrastructure hinder widespread adoption. However, the market presents ample opportunities for growth, with the introduction of new battery technologies enhancing range at reduced costs and the development of fast and ultra-fast charging solutions. Additionally, the rising popularity of shared mobility models provides a promising avenue for market expansion. Geographically, regions like China and Europe are at the forefront of promoting electrification, benefiting from strong policy support, while the U.S. market is also gaining momentum in embracing this transformative shift.

Key features of the study:

This report provides in-depth analysis of the global vehicle electrification market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global vehicle electrification market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include AISIN CORPORATION, Aptiv, BorgWarner Inc., Continental AG, DENSO CORPORATION, Hitachi Astemo, Ltd., Johnson Controls, Johnson Electric Holdings Limited, JTEKT Corporation, Magna International Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, Valeo SA, Wabco Holdings Inc., ZF Friedrichshafen AG are the major players.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
Global vehicle electrification market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vehicle electrification market.

Detailed Segmentation:

Product Type
- Start/Stop System
- Electric Power Steering (EPS)
- Electric Air-Conditioner Compressor
- Electric Vacuum Pump
- Electric Oil Pump
- Electric Water Pump
- Liquid Heater PTC
- Integrated Starter Generator (ISG)
- Starter Motor
- Alternator
- Actuator Start/Stop System
Degree of Hybridization
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
- Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)
Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Key Players Insights
- AISIN CORPORATION
- Aptiv
- BorgWarner Inc.
- Continental AG
- DENSO CORPORATION
- Hitachi Astemo, Ltd.
- Johnson Controls
- Johnson Electric Holdings Limited
- JTEKT Corporation
- Magna International Inc.
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Valeo SA
- Wabco Holdings Inc.
- ZF Friedrichshafen AG

Product Code: CMI1144

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Degree of Hybridization
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New system Launch/Approvals
Impact of COVID-19 Pandemic

4. Global Vehicle Electrification Market, By Product Type, 2020 - 2032 (US$ Billion)

Introduction
- Market Share Analysis, 2025 and 2032(%)
- Y-o-Y Growth Analysis, 2020-2032
- Segment Trends
Start/Stop System
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)
Electric Power Steering (EPS)
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)
Liquid Heater PTC
- Market Share Analysis, 2025 and 2032 (%)
- Segment Trends
Electric Air Conditioner Compressor
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)
Electric Vacuum Pump
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)
Electric Oil Pump
- Market Share Analysis, 2025 and 2032 (%)
- Segment Trends
Electric Water Pump
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)
Starter Motor & Alternator
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)
Integrated Starter Generator (ISG)
- Market Share Analysis, 2025 and 2032 (%)
- Segment Trends
Actuators
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)

5. Global Vehicle Electrification Market, By Degree of Hybridization, 2020 - 2032 (US$ Billion)

Introduction
- Market Share Analysis, 2025 and 2032(%)
- Y-o-Y Growth Analysis, 2020-2032
- Segment Trends
Battery Electric Vehicle (BEV)
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)
Plug-In Hybrid Electric Vehicle (PHEV)
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)
Hybrid Electric Vehicle (HEV)
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)
Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)
- Introduction
- Market Size and Forecast, 2020-2032, (US$ Billion)

6. Global Vehicle Electrification Market, By Region, 2020 - 2032 (US$ Billion)

Introduction
- Market Share Analysis, By Region, 2025 and 2032 (%)
North America
- Regional Trends
- Market Size and Forecast, By Product Type, 2020-2032 (US$ Billion)
- Market Size and Forecast, By Degree of Hybridization, 2020-2032 (US$ Billion)
- Market Share Analysis, By Country, 2025 and 2032 (%)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Product Type, 2020-2032 (US$ Billion)
- Market Size and Forecast, By Degree of Hybridization, 2020-2032 (US$ Billion)
- Market Share Analysis, By Country, 2025 and 2032 (%)
  - U.K.
  - Germany
  - France
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Product Type, 2020-2032 (US$ Billion)
- Market Size and Forecast, By Degree of Hybridization, 2020-2032 (US$ Billion)
- Market Share Analysis, By Country, 2025 and 2032 (%)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Product Type, 2020-2032 (US$ Billion)
- Market Size and Forecast, By Degree of Hybridization, 2020-2032 (US$ Billion)
- Market Share Analysis, By Country, 2025 and 2032 (%)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East and Africa
- Market Size and Forecast, By Product Type, 2020-2032 (US$ Billion)
- Market Size and Forecast, By Degree of Hybridization, 2020-2032 (US$ Billion)
- Market Share Analysis, By Country, 2025 and 2032 (%)
  - South Africa
  - GCC Countries
  - Rest of the Middle East and Africa

7. Competitive Landscape

Company Profiles
- AISIN CORPORATION
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Aptiv
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- BorgWarner Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Continental AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- DENSO CORPORATION
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hitachi Astemo, Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Johnson Controls
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Johnson Electric Holdings Limited
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- JTEKT Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Magna International Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mitsubishi Electric Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Robert Bosch GmbH
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Valeo SA
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Wabco Holdings Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- ZF Friedrichshafen AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

8. Wheel of Fortune

Wheel of Fortune
Analyst View
Coherent Opportunity Map

9. Section

References
Research Methodology
About us and Sales Contact