Vehicle Electrification Market Report: Trends, Forecast and Competitive Analysis to 2030

Vehicle Electrification Trends and Forecast

The future of the global vehicle electrification market looks promising with opportunities in the original equipment manufacturer and aftermarket markets. The global vehicle electrification market is expected to reach an estimated $169.0 billion by 2030 with a CAGR of 9.7% from 2024 to 2030. The major drivers for this market are growing demand for hybrid vehicles and increasing adoption of fuel-efficient transportation solutions.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Vehicle Electrification by Segment

The study includes a forecast for the global vehicle electrification by product type, vehicle type, sales channel, and region.

Vehicle Electrification Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:

• Starter Motor
• Alternator
• Electric Car Motors
• Electric Power Steering
• Actuators
• Start/Stop System
• Others

Vehicle Electrification Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:

• Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle
• Plug-in Hybrid Electric Vehicle (PHEV) & Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)

Vehicle Electrification Market by Sales Channel [Shipment Analysis by Value from 2018 to 2030]:

• Original Equipment Manufacturers (OEM)
• Aftermarket

Vehicle Electrification Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Vehicle Electrification Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies vehicle electrification companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the vehicle electrification companies profiled in this report include-

• BorgWarner
• FRIEDRICHSHAFEN
• Denso Corporation
• CONTINENTAL
• Magna International
• Hitachi Automotive Systems
• Robert Bosch
• Johnson Electric Holdings
• Delphi Technologies
• AISIN SEIKI

Vehicle Electrification Market Insights

Lucintel forecasts that electric power steering will remain the largest segment over the forecast period.

Within this market, aftermarket is expected to witness the highest growth over the forecast period.

North America is expected to witness the highest growth over the forecast period.

Features of the Global Vehicle Electrification Market

Market Size Estimates: Vehicle electrification market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Vehicle electrification market size by product type, vehicle type, sales channel, and region in terms of value ($B).

Regional Analysis: Vehicle electrification market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product types, vehicle types, sales channels, and regions for the vehicle electrification market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the vehicle electrification market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the vehicle electrification market size?

Answer: The global vehicle electrification market is expected to reach an estimated $169.0 billion by 2030.

Q2. What is the growth forecast for vehicle electrification market?

Answer: The global vehicle electrification market is expected to grow with a CAGR of 9.7% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the vehicle electrification market?

Answer: The major drivers for this market are growing demand for hybrid vehicles and increasing adoption of fuel-efficient transportation solutions.

Q4. What are the major segments for vehicle electrification market?

Answer: The future of the vehicle electrification market looks promising with opportunities in the original equipment manufacturer and aftermarket markets.

Q5. Who are the key vehicle electrification market companies?

Answer: Some of the key vehicle electrification companies are as follows:

• BorgWarner
• FRIEDRICHSHAFEN
• Denso Corporation
• CONTINENTAL
• Magna International
• Hitachi Automotive Systems
• Robert Bosch
• Johnson Electric Holdings
• Delphi Technologies
• AISIN SEIKI

Q6. Which vehicle electrification market segment will be the largest in future?

Answer: Lucintel forecasts that electric power steering will remain the largest segment over the forecast period.

Q7. In vehicle electrification market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness the highest growth over the forecast period.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the vehicle electrification market by product type (starter motor, alternator, electric car motors, electric power steering, actuators, start/stop system, and others), vehicle type (internal combustion engine (ICE) & micro-hybrid vehicle, plug-in hybrid electric vehicle (PHEV) & battery electric vehicle (BEV), and hybrid electric vehicle (HEV)), sales channel (original equipment manufacturers (OEM) and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?