Picture

Questions?

+1-866-353-3335

SEARCH
What are you looking for?
Need help finding what you are looking for? Contact Us
Compare

PUBLISHER: Orion Market Research | PRODUCT CODE: 1433470

Cover Image

PUBLISHER: Orion Market Research | PRODUCT CODE: 1433470

Global Vehicle Electrification Market 2023-2030

PUBLISHED:
PAGES: 160 Pages
DELIVERY TIME: 2-3 business days
SELECT AN OPTION
Unprintable PDF & Excel (Single User License)
USD 4000
Printable PDF & Excel (Corporate License)
USD 6625

Add to Cart

Global Vehicle Electrification Market Size, Share & Trends Analysis Report by Product (Electric Power Steering, Electric Air Conditioner Compressor, Electric Vacuum Pump, Electric Oil Pump, Electric Water Pump, Integrated Starter Generator, Actuators and Others (Liquid Heater PTC, Starter Motor), by Hybridization (Internal Combustion Engine (ICE) & Micro-hybrid Vehicle, Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV), and by Vehicle Type (Passenger vehicle and Commercial vehicle), Forecast Period (2023-2030)

The global vehicle electrification market is anticipated to grow at a significant CAGR of 12.2% during the forecast period (2023-2030). The growing incentives and policies promoting electric vehicle adoption is the key factor supporting the growth of the market globally. According to the International Energy Agency (IEA), in May 2022, public spending on subsidies and incentives for EVs nearly doubled in 2021 to nearly $30 billion. A growing number of countries have pledged to phase out internal combustion engines or have ambitious vehicle electrification targets for the coming decades. The market players are also focusing on introducing vehicle electrification solutions that further bolster the market growth. For instance, in February 2023, Nissan Motor Corp. announced to accelerated electrification strategy, a plan to 23 electrified vehicles, including 15 EVs, by 2030. In response to changes in customer needs and the business environment, Nissan has revised its plan to further accelerate electrification.

Segmental Outlook

The global vehicle electrification market is segmented on the product, hybridization, and vehicle type. Based on the product, the market is sub-segmented into electric power steering, electric air conditioner compressor, electric vacuum pump, electric oil pump, electric water pump, integrated starter generator, actuators and others (liquid heater PTC, starter motor). Based on the hybridization, the market is sub-segmented into internal combustion engine (ICE) & micro-hybrid vehicles, hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV). Further, on the basis of vehicle type, the market is sub-segmented into passenger vehicles and commercial vehicles. Among the hybridization, the plug-in hybrid electric vehicle (PHEV) sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of extended range and potential for refueling of conventional hybrids while enabling drivers to use battery electric power.

Commercial Vehicle Segment is Anticipated to Hold a Considerable Share of the Global Vehicle Electrification Market

Among the vehicle types, the commercial vehicle sub-segment is expected to hold a considerable share of the global vehicle electrification market. The segmental growth is attributed to the growing vehicle electrification technology and supporting infrastructure for commercial vehicles globally. To meet the requirements of the commercial vehicle market. Modularity enables manufacturers to use full e-powertrain systems, or 'mix and match' their components. For instance, in May 2022, ZF launched AxTrax 2, a next-generation e-powertrain system for commercial vehicles. The integrated and modular e-powertrain system for light, medium and heavy-duty vehicles is ZF's latest e-mobility solution to help support the industry's transformation toward a more sustainable future.

Regional Outlook

The global vehicle electrification market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the advancements in battery technology that have allowed for extended ranges, making electric commercial vehicles more practical for various applications.

North America is Expected to Grow at a Significant CAGR in the Global Vehicle Electrification Market

Among all regions, the North America is anticipated to grow at a significant CAGR over the forecast period. Regional growth is attributed to the expansion of charging infrastructure and major expenditures by OEMs in the development of vehicle electrification. According to the US Bureau of Labor Statistics, in February 2023, electric vehicle sales in the US could reach 40.0% of total passenger car sales by 2030, and more optimistic projections foresee electric vehicle sales surpassing 50.0% by 2030.

The electric motor, power electronics and transmission that are combined into a single module to deliver improved performance and range at a competitive cost. For instance, in February 2023, Stellantis NV announced $155 million investment in Three Indiana Plants to Support North American Electrification Goals. To produce new electric drive modules (EDM) that help power future electric vehicles assembled in North America and support the goal of 50.0% battery electric sales in the US by 2030. EDM provides an all-in-one solution for electric vehicle powertrains, delivering improved performance at a competitive cost.

Market Players Outlook

The major companies serving the vehicle electrification market include Aptiv, Eaton, HORIBA Group, NSK Ltd., Siemens, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in December 2023, Stellantis and Ample partnered to leverage Ample's modular battery-swapping technology for use in Stellantis electric vehicles. Innovative battery swapping solution capable of delivering a fully charged battery in less than five minutes.

The Report Covers:

  • Market value data analysis of 2022 and forecast to 2030.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the global vehicle electrification market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market-entry and market expansion strategies.
  • Competitive strategies by identifying 'who-stands-where' in the market.
Product Code: OMR2028057

Table of Contents

1. Report Summary

  • Current Industry Analysis and Growth Potential Outlook
  • 1.1. Research Methods and Tools
  • 1.2. Market Breakdown
    • 1.2.1. By Segments
    • 1.2.2. By Region

2. Market Overview and Insights

  • 2.1. Scope of the Report
  • 2.2. Analyst Insight & Current Market Trends
    • 2.2.1. Key Findings
    • 2.2.2. Recommendations
    • 2.2.3. Conclusion

3. Competitive Landscape

  • 3.1. Key Company Analysis
  • 3.2. Eaton Corp.
    • 3.2.1. Overview
    • 3.2.2. Financial Analysis
    • 3.2.3. SWOT Analysis
    • 3.2.4. Recent Developments
  • 3.3. HORIBA Group
    • 3.3.1. Overview
    • 3.3.2. Financial Analysis
    • 3.3.3. SWOT Analysis
    • 3.3.4. Recent Developments
  • 3.4. Siemens AG
    • 3.4.1. Overview
    • 3.4.2. Financial Analysis
    • 3.4.3. SWOT Analysis
    • 3.4.4. Recent Developments
  • 3.5. Key Strategy Analysis

4. Market Segmentation

  • 4.1. Global Vehicle Electrification Market by Product
    • 4.1.1. Electric Power Steering
    • 4.1.2. Electric Air Conditioner Compressor
    • 4.1.3. Electric Vacuum Pump
    • 4.1.4. Electric Oil Pump
    • 4.1.5. Electric Water Pump
    • 4.1.6. Integrated Starter Generator
    • 4.1.7. Actuators
    • 4.1.8. Others (Liquid Heater PTC, Starter Motor)
  • 4.2. Global Vehicle Electrification Market by Hybridization
    • 4.2.1. Internal Combustion Engine (ICE) & Micro-hybrid Vehicle
    • 4.2.2. Hybrid Electric Vehicle (HEV)
    • 4.2.3. Plug-In Hybrid Electric Vehicle (PHEV)
    • 4.2.4. Battery Electric Vehicle (BEV)
  • 4.3. Global Vehicle Electrification Market by Vehicle type
    • 4.3.1. Passenger vehicle
    • 4.3.2. Commercial vehicle

5. Regional Analysis

  • 5.1. North America
    • 5.1.1. United States
    • 5.1.2. Canada
  • 5.2. Europe
    • 5.2.1. UK
    • 5.2.2. Germany
    • 5.2.3. Italy
    • 5.2.4. Spain
    • 5.2.5. France
    • 5.2.6. Rest of Europe
  • 5.3. Asia-Pacific
    • 5.3.1. China
    • 5.3.2. India
    • 5.3.3. Japan
    • 5.3.4. South Korea
    • 5.3.5. Rest of Asia-Pacific
  • 5.4. Rest of the World

6. Company Profiles

  • 6.1. Semiconductor Components Industries, LLC
  • 6.2. Jabil Inc.
  • 6.3. Turntide Technologies, Inc.
  • 6.4. Dana Ltd.
  • 6.5. NXP Semiconductors N.V.
  • 6.6. Stellantis NV
  • 6.7. Magna International Inc.
  • 6.8. Altair Engineering Inc.
  • 6.9. General Motors
  • 6.10. Nissan Motor Co., Ltd.
  • 6.11. WABCO Solution Centre.
  • 6.12. ZF Friedrichshafen AG
  • 6.13. Aptiv plc
  • 6.14. NSK Ltd.
  • 6.15. Hitachi Astemo, Ltd.
  • 6.16. Valeo SA
  • 6.17. Mitsubishi Electric Corp.
Product Code: OMR2028057

LIST OF TABLES

  • 1. GLOBAL VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
  • 2. GLOBAL ELECTRIC POWER STEERING IN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 3. GLOBAL ELECTRIC AIR CONDITIONER COMPRESSOR IN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 4. GLOBAL ELECTRIC VACUUM PUMP IN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 5. GLOBAL ELECTRIC OIL PUMP IN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 6. GLOBAL ELECTRIC WATER PUMP IN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 7. GLOBAL INTEGRATED STARTER GENERATOR IN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 8. GLOBAL ACTUATORS IN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 9. GLOBAL OTHERS PRODUCTS IN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 10. GLOBAL VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY HYBRIDIZATION, 2022-2030 ($ MILLION)
  • 11. GLOBAL INTERNAL COMBUSTION ENGINE (ICE) & MICRO-HYBRID VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
  • 12. GLOBAL HYBRID ELECTRIC VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
  • 13. GLOBAL PLUG-IN HYBRID ELECTRIC VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
  • 14. GLOBAL BATTERY ELECTRIC VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
  • 15. GLOBAL VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
  • 16. GLOBAL PASSENGER VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
  • 17. GLOBAL COMMERCIAL VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
  • 18. GLOBAL VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 19. NORTH AMERICAN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
  • 20. NORTH AMERICAN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
  • 21. NORTH AMERICAN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY HYBRIDIZATION, 2022-2030 ($ MILLION)
  • 22. NORTH AMERICAN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
  • 23. EUROPEAN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
  • 24. EUROPEAN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
  • 25. EUROPEAN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY HYBRIDIZATION, 2022-2030 ($ MILLION)
  • 26. EUROPEAN VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
  • 27. ASIA- PACIFIC VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
  • 28. ASIA- PACIFIC VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
  • 29. ASIA- PACIFIC VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY HYBRIDIZATION, 2022-2030 ($ MILLION)
  • 30. ASIA- PACIFIC VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
  • 31. REST OF THE WORLD VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
  • 32. REST OF THE WORLD VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
  • 33. REST OF THE WORLD VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY HYBRIDIZATION, 2022-2030 ($ MILLION)
  • 34. REST OF THE WORLD VEHICLE ELECTRIFICATION MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)

LIST OF FIGURES

  • 1. GLOBAL VEHICLE ELECTRIFICATION MARKET SHARE BY PRODUCT, 2022 VS 2030 (%)
  • 2. GLOBAL ELECTRIC POWER STEERING IN VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 3. GLOBAL ELECTRIC AIR CONDITIONER COMPRESSOR IN VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 4. GLOBAL ELECTRIC VACUUM PUMP IN VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 5. GLOBAL ELECTRIC OIL PUMP IN VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 6. GLOBAL ELECTRIC WATER PUMP IN VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 7. GLOBAL INTEGRATED STARTER GENERATOR IN VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 8. GLOBAL ACTUATORS IN VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 9. GLOBAL OTHERS PRODUCTS IN VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 10. GLOBAL VEHICLE ELECTRIFICATION MARKET SHARE BY HYBRIDIZATION, 2022 VS 2030 (%)
  • 11. GLOBAL INTERNAL COMBUSTION ENGINE (ICE) & MICRO-HYBRID VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 12. GLOBAL HYBRID ELECTRIC VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 13. GLOBAL PLUG-IN HYBRID ELECTRIC VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 14. GLOBAL BATTERY ELECTRIC VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 15. GLOBAL VEHICLE ELECTRIFICATION MARKET SHARE ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
  • 16. GLOBAL PASSENGER VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 17. GLOBAL COMMERCIAL VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 18. GLOBAL VEHICLE ELECTRIFICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
  • 19. US VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 20. CANADA VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 21. UK VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 22. FRANCE VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 23. GERMANY VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 24. ITALY VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 25. SPAIN VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 26. REST OF EUROPE VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 27. INDIA VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 28. CHINA VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 29. JAPAN VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 30. SOUTH KOREA VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 31. REST OF ASIA-PACIFIC VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
  • 32. REST OF THE WORLD VEHICLE ELECTRIFICATION MARKET SIZE, 2022-2030 ($ MILLION)
Have a question?
Picture

Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

Picture

Christine Sirois

Manager - Americas

+1-860-674-8796

Questions? Please give us a call or visit the contact form.
Hi, how can we help?
Contact us!