Vehicle Electrification Market

Vehicle Electrification Market by Product (Start-Stop, PTC, EPS, Electric Air Conditioner, ISG, Starter Motor, Alternator, Actuator, Electric Pump-Vacuum, Oil & Water), 48V, ICE, BEV, HEV, PHEV, Vehicle Type, and Region - Global Forecast to 2027

Report Code: AT 2839 Jun, 2019, by marketsandmarkets.com

[182 Pages Report] The vehicle electrification market is projected to grow at a CAGR of 9.1% to reach USD 142.1 billion by 2027 from USD 71.0 billion in 2019. Owing to various benefits offered by electrification such as decreased vehicle weight, lower emissions, increased fuel efficiency, improved driving comfort, and safety among, vehicle electrification would be the preferred option for OEMs in the near future.

Vehicle Electrification Market

Electric power steering is estimated to be the largest segment for the market”

Electric power steering (EPS) is expected to be the largest market. EPS reduces fuel consumption and improves the maneuverability of vehicles. In Europe and North America, almost all the vehicle has EPS, and in Asia Oceania, the trend is growing rapidly. In Asia Oceania, installation rate of EPS is almost 90%. Hence, the EPS segment is estimated to hold the largest market share during the forecast period.

Plug-in hybrid electric vehicle (PHEV) is estimated to witness the fastest growth in the market”

PHEV is the fastest growing segment in the market. Automakers are seeing plug-in hybrids as a gateway to fully electric vehicles. Increasing charging infrastructure in China, the US, and European countries would be responsible for the shift from conventional ICE vehicles to PHEVs. OEMs of these regions are also investing significantly in vehicle electrification. This would also drive the demand for PHEVs.

Vehicle Electrification Market

North America is expected to be the fastest growing market for vehicle electrification

North America is expected to be the fastest growing market for vehicle electrification. The growth in this region is propelled by growing charging infrastructure and significant investments by OEMs in the development of vehicle electrification. Federal tax credits and rebate incentives are accelerating the growth of market, especially in the US. The US is set to dominate the North American market, holding the highest market share in 2019. As the country has the presence of major OEMs and Tier I players, adoption of electric components in ICE vehicles, BEVs, HEVs, and PHEVs is very high. Hence, North America is expected to be the fastest growing market during the forecast period.

Key Market Players

The vehicle electrification market consists of vehicle electrification technology suppliers such as Bosch (Germany), Continental (Germany), Denso (Japan), Delphi (UK), and Johnson Electrics (Hong Kong). The study includes an in-depth competitive analysis of these key players in the market, with their company profiles, SWOT analysis of the top 5 companies, recent developments, and key market strategies.

Bosch is anticipated to be a dominant player in the market. Bosch adopted the strategies of expansion, new product development, partnership, and merger & acquisition to retain its leading position in the market. Bosch has a presence in emerging markets such as India, China, and Brazil as well. Strengthening of the product portfolio and global presence by building customer relationships is the strategy that Bosch follows to maintain its leadership in the market.

Recent Developments

  • In 2019, Bosch assumed full control of EM-motive, one of Europe’s most successful manufacturers of electric motors. Bosch and Daimler set up EM-motive GmbH as a 50-50 joint venture in 2011, and from 2019 onward, Bosch has gained complete control over EM-motive.
  • In 2017, Bosch developed a new 48V battery to meet the growing demand for 48V architecture across the globe.
  • In 2017, Changchun Branch of Robert Bosch Motor (China) Co., Ltd. signed an agreement with the Changchun High Tech Industrial Development Zone to establish a starter motor plant in the area with an annual capacity of 3 million sets. A total of USD 29 million was invested in the project.

A key factor restraining the growth of market is the high cost of electric systems and components. The cost of an electric vehicle is still high despite the advancements in battery technology and incentives provided by the governments. The cost has been a major obstacle to the widespread adoption of elctric vehicles. The market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the market are Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (UK), and Johnson Electrics (Hong Kong).

Key Questions addressed by the report

  • Which level of vehicle hybridization is going to dominate the market in the future?
  • How are industry players addressing the challenge of maintaining a balance between performance and low-cost electric components?
  • What could be the market size of vehicle electrification products?
  • Which electric components will lead the market for vehicle electrification in the near future?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered in the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Research Data
    2.2 Secondary Data
           2.2.1 Key Secondary Sources for Vehicle Production
           2.2.2 Key Secondary Sources for Market Sizing
           2.2.3 Key Data From Secondary Sources
    2.3 Primary Data
           2.3.1 Sampling Techniques & Data Collection Methods
           2.3.2 Primary Participants
    2.4 Market Size Estimation
           2.4.1 Bottom-Up Approach: Market
           2.4.2 Bottom-Up Approach: Electric Market
    2.5 Market Breakdown and Data Triangulation
    2.6 Assumptions

3 Executive Summary (Page No. - 32)

4 Premium Insights (Page No. - 35)
    4.1 Attractive Opportunities in the Market
    4.2 Market, By Region
    4.3 Market Growth Trends, By Country
    4.4 Market, By Product
    4.5 Market, By Vehicle Type
    4.6 Market, By Degree of Hybridization

5 Market Overview (Page No. - 39)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rising Need for 48v Architecture
                    5.2.1.2 Adoption of Advanced Technologies Such as E-Axle in Electric Vehicles
           5.2.2 Restraints
                    5.2.2.1 Difficulty in Achieving and Maintaining Optimum Power-To-Weight Ratio
                    5.2.2.2 Higher Cost of Electric Systems
           5.2.3 Opportunities
                    5.2.3.1 Use of Alternate Materials for Overall Weight Reduction to Open New Avenues in Electric Vehicle Technologies
                    5.2.3.2 Electrification of Commercial Vehicles
           5.2.4 Challenges
                    5.2.4.1 Developing Fail-Safe Electronic and Electrical Components
                    5.2.4.2 High Cost of Hybrid and Plug-In Hybrid Vehicles

6 Industry Trend (Page No. - 45)
    6.1 Introduction
    6.2 Company vs Product
    6.3 48 V Hybrid Architecture
    6.4 Porter’s Five Forces Analysis
           6.4.1 Threat of New Entrants
           6.4.2 Threat of Substitutes
           6.4.3 Bargaining Power of Suppliers
           6.4.4 Bargaining Power of Buyers
           6.4.5 Intensity of Competitive Rivalry

7 48v Vehicle (Page No. - 53)
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Pacific, Europe, North America and RoW
    7.1 Introduction
    7.2 Need for 48v Architecture
    7.3 48v Mild Hybrid Market, By Region
           7.3.1 Europe is Estimated to Be the Largest Market
    7.4 Impact of 48v Architecture

8 Market, By Product Type (Page No. - 59)
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Pacific, Europe, North America and RoW
    8.1 Introduction
           8.1.1 Research Methodology
           8.1.2 Assumptions
           8.1.3 The Market for Electric Air Conditioner Compressor is Projected to Grow at the Highest CAGR
    8.2 Start-Stop
           8.2.1 Asia Oceania is Projected to Be the Fastest Growing Market
    8.3 Electric Power Steering (EPS)
           8.3.1 Asia Oceania is Estimated to Be the Largest Market
    8.4 Liquid Heater PTC
           8.4.1 North American Market is Expected to Be the Second Largest
    8.5 Electric Air Conditioner Compressor
           8.5.1 North America is Project to Be the Fastest Growing Market Over the Forecast Period
    8.6 Electric Vacuum Pump
           8.6.1 The Asia Oceania Market for Electric Vacuum Pump is Estimated to Be the Largest Market
    8.7 Electric Oil Pump
           8.7.1 RoW is Projected to Be the Fastest Growing Market Over the Forecast Period
    8.8 Electric Water Pump
           8.8.1 North America is Projected to Be the Fastest Growing Market Over the Forecast Period
    8.9 Starter Motor
           8.9.1 Asia Oceania is Estimated to Be the Largest Market
    8.10 Alternator
           8.10.1 Asia Oceania is Estimated to Be the Largest Market
    8.11 Integrated Starter Generator (ISG)
           8.11.1 Europe Market is Estimated to Be the Second Largest
    8.12 Actuator
           8.12.1 Asia Oceania is Projected to Be the Fastest Growing Market Over the Forecast Period

9 Market, By Vehicle Type (Page No. - 78)
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Pacific, Europe, North America and RoW
    9.1 Introduction
           9.1.1 Research Methodology
           9.1.2 Assumptions
           9.1.3 The Passenger Car Segment is Estimated to Be the Largest Market,
    9.2 Passenger Car
           9.2.1 Passenger Car Leads the Market Owing to Its High Production in Asia Oceania
    9.3 Light Commercial Vehicle (LCV)
           9.3.1 LCV has the Prominent Market Share With Its Increasing Usage in US, China, and India

10 Market, By Degree of Hybridization (Page No. - 86)
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Pacific, Europe, North America and RoW
     10.1 Introduction
             10.1.1 Research Methodology
             10.1.2 Assumptions
             10.1.3 The ICE Vehicle Segment is Expected to Be the Largest Market, in Terms of Volume
     10.2 Internal Combustion Engine (ICE) & Micro Hybrid Vehicle
             10.2.1 Asia Oceania is Expected to Be the Largest Market, in Terms of Volume
     10.3 Hybrid Electric Vehicle (HEV)
             10.3.1 RoW is Expected to Be the Fastest Growing Market During the Forecast Period
     10.4 Plug-In Hybrid Electric Vehicle (PHEV)
             10.4.1 Asia Oceania is Expected to Be the Fastest Growing Market During the Forecast Period
     10.5 Battery Electric Vehicle (BEV)
             10.5.1 North America is Projected to Be the Largest Market During the Forecast Period
     10.6 48 V Vehicle
             10.6.1 Europe is Expected to Be the Largest Market, in Terms of Volume

11 Market, By Region (Page No. - 97)
The Chapter is Further Segmented at Regional and Country Level By Product Type and Considered Products are Start Stop, Electric Power Steering, Electric Air-Conditioned Compressor, Electric Oil Pump, Electric Vacuum Pump, Electric Water Pump, Integrated Starter Generator, Liquid Heater PTC, Starter, Alternator, Actuator.
     11.1 Introduction
             11.1.1 Assumptions
     11.2 Asia Oceania
             11.2.1 China
                        11.2.1.1 China is Estimated to Record the Highest Growth
             11.2.2 Japan
                        11.2.2.1 Electric Air Conditioner Compressor is Estimated to Record the Highest Growth
             11.2.3 South Korea
                        11.2.3.1 Electric Power Steering is Expected to Hold the Second Largest Market
             11.2.4 India
                        11.2.4.1 Electric Air Conditioner Compressor is Estimated to Record the Highest Growth
             11.2.5 Rest of Asia Oceania
                        11.2.5.1 Electric Power Steering is Expected to Hold the Second Largest Market
     11.3 Europe
             11.3.1 Germany
                        11.3.1.1 Electric Vacuum Pump is Estimated to Record the Highest Growth
             11.3.2 France
                        11.3.2.1 Electric Air Conditioner Compressor is Estimated to Record the Highest Growth
             11.3.3 UK
                        11.3.3.1 Electric Air Conditioner Compressor is Estimated to Record the Highest Growth
             11.3.4 Spain
                        11.3.4.1 Electric Power Steering is Expected to Hold the Largest Market
             11.3.5 Rest of Europe
                        11.3.5.1 Electric Power Steering is Expected to Hold the Largest Market
     11.4 North America
             11.4.1 US
                        11.4.1.1 Liquid Heater PTC is Estimated to Record the Highest Growth
             11.4.2 Canada
                        11.4.2.1 Electric Power Steering is Expected to Hold the Largest Market
             11.4.3 Mexico
                        11.4.3.1 Integrated Starter Generator is Expected to Hold the Largest Market
     11.5 RoW
             11.5.1 Brazil
                        11.5.1.1 Electric Power Steering is Expected to Hold the Largest Market
             11.5.2 Russia
                        11.5.2.1 Electric Air Conditioner Compressor is Estimated to Record the Fastest Growth
             11.5.3 Rest of RoW
                        11.5.3.1 Actuator is Expected to Hold the Largest Market in Terms of Value

12 Competitive Landscape (Page No. - 134)
     12.1 Introduction
             12.1.1 Vanguards
             12.1.2 Innovators
             12.1.3 Dynamic
             12.1.4 Emerging
     12.2 Market: Vendor Dive Matrix
     12.3 Competitive Benchmarking
             12.3.1 Product Offering Scorecard (For All 15 Companies)
             12.3.2 Business Strategy & Scorecard (For All 15 Companies)
     12.4 Market Ranking
     12.5 Competitive Scenario
             12.5.1 Expansion
             12.5.2 Supply Contracts
             12.5.3 New Product Launches/Developments
             12.5.4 Partnership/Joint Ventures
             12.5.5 Mergers/Acquisition

13 Company Profiles (Page No. - 144)
(Business Overview, Products Offerings, Recent Developments & SWOT Analysis)*
     13.1 Bosch
     13.2 Continental
     13.3 Denso
     13.4 Delphi
     13.5 Mitsubishi
     13.6 Borgwarner
     13.7 Johnson Electric
     13.8 Magna
     13.9 Aisin Seiki
     13.10 Johnson Controls
     13.11 Additional Companies
             13.11.1 Asia Oceania
                        13.11.1.1 Jtekt Corporation
                        13.11.1.2 Hitachi Automotive
                        13.11.1.3 Calsonic Kansei
             13.11.2 Europe
                        13.11.2.1 ZF
                        13.11.2.2 Valeo
                        13.11.2.3 Wabco
                        13.11.2.4 GKN
                        13.11.2.5 Schaeffler
                        13.11.2.6 Mahle
             13.11.3 North America
                        13.11.3.1 Dana (US)

*Details on Business Overview, Products Offerings, Recent Developments & SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 173)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Available Customizations
             14.4.1 48v Market, By Component & Region
                        14.4.1.1 Asia Oceania
                                     14.4.1.1.1 Start Stop System
                                     14.4.1.1.2 Electric Power Steering (EPS)
                                     14.4.1.1.3 Liquid Heater PTC
                                     14.4.1.1.4 Electric Air Conditioner Compressor
                                     14.4.1.1.5 Electric Vacuum Pump
                                     14.4.1.1.6 Electric Oil Pump
                                     14.4.1.1.7 Electric Water Pump
                                     14.4.1.1.8 Starter
                                     14.4.1.1.9 Alternator
                                     14.4.1.1.10 Integrated Starter Generator
                                     14.4.1.1.11 Actuator
                        14.4.1.2 Europe
                                     14.4.1.2.1 Start Stop System
                                     14.4.1.2.2 Electric Power Steering (EPS)
                                     14.4.1.2.3 Liquid Heater PTC
                                     14.4.1.2.4 Electric Air Conditioner Compressor
                                     14.4.1.2.5 Electric Vacuum Pump
                                     14.4.1.2.6 Electric Oil Pump
                                     14.4.1.2.7 Electric Water Pump
                                     14.4.1.2.8 Starter
                                     14.4.1.2.9 Alternator
                                     14.4.1.2.10 Integrated Starter Generator
                                     14.4.1.2.11 Actuator
                        14.4.1.3 North America
                                     14.4.1.3.1 Start Stop System
                                     14.4.1.3.2 Electric Power Steering (EPS)
                                     14.4.1.3.3 Liquid Heater PTC
                                     14.4.1.3.4 Electric Air Conditioner Compressor
                                     14.4.1.3.5 Electric Vacuum Pump
                                     14.4.1.3.6 Electric Oil Pump
                                     14.4.1.3.7 Electric Water Pump
                                     14.4.1.3.8 Starter
                                     14.4.1.3.9 Alternator
                                     14.4.1.3.10 Integrated Starter Generator
                                     14.4.1.3.11 Actuator
                        14.4.1.4 Rest of the World
                                     14.4.1.4.1 Start Stop System
                                     14.4.1.4.2 Electric Power Steering (EPS)
                                     14.4.1.4.3 Liquid Heater PTC
                                     14.4.1.4.4 Electric Air Conditioner Compressor
                                     14.4.1.4.5 Electric Vacuum Pump
                                     14.4.1.4.6 Electric Oil Pump
                                     14.4.1.4.7 Electric Water Pump
                                     14.4.1.4.8 Starter
                                     14.4.1.4.9 Alternator
                                     14.4.1.4.10 Integrated Starter Generator
                                     14.4.1.4.11 Actuator
     14.5 Related Reports
     14.6 Author Details


List of Tables (103 Tables)

Table 1 Currency Exchange Rates (Per USD)
Table 2 Top HEV & PHEV Models With Advanced Technologies and Sales
Table 3 Battery Type vs Power-To-Weight Ratio
Table 4 Power Output-To-Vehicle Weight
Table 5 Company vs Product, 2018-2019
Table 6 48v Mild Hybrid Market, By Region, 2015–2025 (000’ Units)
Table 7 48v Mild Hybrid Market, By Region, 2017–2027 (USD Million)
Table 8 48v Mild Hybrid Market, By Product, 2017–2027 (USD Million)
Table 9 ISO 6722 Norms for Aluminum Wiring
Table 10 Energy Efficient Technologies & Fuel Efficiency Advantages
Table 11 Vehicle Type vs Product, 2018-2019
Table 12 Market, By Product Type, 2017–2027 (Million Units)
Table 13 Market, By Product Type, 2017–2027 (USD Million)
Table 14 Start-Stop System: Market, By Region, 2017–2027 (Million Units)
Table 15 Start-Stop System: Market, By Region, 2017–2027 (USD Million)
Table 16 Electric Power Steering (EPS): Market, By Region, 2017–2027 (Million Units)
Table 17 Electric Power Steering (EPS): Market, By Region, 2017–2027 (USD Million)
Table 18 Liquid Heater PTC: Market, By Region, 2017–2027 (Million Units)
Table 19 Liquid Heater PTC: Market, By Region, 2017–2027 (USD Million)
Table 20 Electric Air Conditioner Compressor: Market, By Region, 2017–2027 (Million Units)
Table 21 Electric Air Conditioner Compressor: Market, By Region, 2017–2027 (USD Million)
Table 22 Electric Vacuum Pump: Market, By Region, 2017–2027 (Million Units)
Table 23 Electric Vacuum Pump: Market, By Region, 2017–2027 (USD Million)
Table 24 Electric Oil Pump: Market, By Region, 2017–2027 (Million Units)
Table 25 Electric Oil Pump: Market, By Region, 2017–2027 (USD Million)
Table 26 Electric Water Pump: Market, By Region, 2017–2027 (Million Units)
Table 27 Electric Water Pump: Market, By Region, 2017–2027 (USD Million)
Table 28 Starter Motor: Market, By Region, 2017–2027 (Million Units)
Table 29 Starter Motor: Market, By Region, 2017–2027 (USD Million)
Table 30 Alternator Market: Market, By Region, 2017–2027 (Million Units)
Table 31 Alternator Market: Market, By Region, 2017–2027 (USD Million)
Table 32 Integrated Starter Generator (ISG): Market, By Region, 2017–2027 (Million Units)
Table 33 Integrated Starter Generator (ISG): Market, By Region, 2017–2027 (USD Million)
Table 34 Actuator Market: Market, By Region, 2017–2027 (Million Units)
Table 35 Actuator Market: Market, By Region, 2017–2027 (USD Million)
Table 36 Market, By Vehicle Type, 2017–2027 (Million Units)
Table 37 Market, By Vehicle Type, 2017–2027 (USD Million)
Table 38 Passenger Car: Market, By Region, 2017–2027 (Million Units)
Table 39 Passenger Car: Market, By Region, 2017–2027 (USD Million)
Table 40 Passenger Car: Market, By Degree of Hybridization, 2017–2027 (Million Units)
Table 41 Passenger Car: Market, By Degree of Hybridization, 2017–2027 (USD Million)
Table 42 LCV: Market, By Region, 2017–2027 (Million Units)
Table 43 LCV: Market, By Region, 2017–2027 (USD Million)
Table 44 Vehicle Type vs Product, 2018-2019
Table 45 Market, By Degree of Hybridization, 2017–2027 (Million Units)
Table 46 Market, By Degree of Hybridization, 2017–2027 (USD Million)
Table 47 ICE & Micro Hybrid: Market, By Region, 2017–2027 (Million Units)
Table 48 ICE & Micro Hybrid: Market, By Region, 2017–2027 (USD Million)
Table 49 Hybrid Electric Vehicle: Market, By Region, 2017–2027 Million Units)
Table 50 Hybrid Electric Vehicle: Market, By Region, 2017–2027 (USD Million)
Table 51 Plug-In Hybrid Vehicle: Market, By Region, 2017–2027 (Million Units)
Table 52 Plug-In Hybrid Vehicle: Market, By Region, 2017–2027 (USD Million)
Table 53 Battery Electric Vehicle: Market, By Region, 2017–2027 (Million Units)
Table 54 Battery Electric Vehicle: Market, By Region, 2017–2027 (USD Million)
Table 55 48 V Vehicle: Market, By Region, 2017–2027 (Million Units)
Table 56 48 V Vehicle: Market, By Region, 2017–2027 (USD Million)
Table 57 Market, By Region, 2017–2027 (Million Units)
Table 58 Market, By Region, 2017–2027 (USD Million)
Table 59 Asia Oceania: Market, By Country, 2017–2027 (Million Units)
Table 60 Asia Oceania Market, By Country, 2017–2027 (USD Million)
Table 61 China: Market, By Product, 2017–2027 (Million Units)
Table 62 China: Market, By Product, 2017–2027 (USD Million)
Table 63 Japan: Market, By Product, 2017–2027 (Million Units)
Table 64 Japan: Market, By Product, 2017–2027 (USD Million)
Table 65 South Korea: Market, By Product, 2017–2027 (Million Units)
Table 66 South Korea: Market, By Product, 2017–2027 (USD Million)
Table 67 India: Market, By Product, 2017–2027 (Million Units)
Table 68 India: Market, By Product, 2017–2027 (USD Million)
Table 69 Rest of Asia Oceania: Market, By Product, 2017–2027 (Million Units)
Table 70 Rest of Asia Oceania: Market, By Product, 2017–2027 (USD Million)
Table 71 Europe: Market, By Country, 2017–2027 (Million Units)
Table 72 Europe: Market, By Country, 2017–2027 (USD Million)
Table 73 Germany: Market, By Product, 2017–2027 (Million Units)
Table 74 Germany: Market, By Product, 2017–2027 (USD Million)
Table 75 France: Market, By Product, 2017–2027 (Million Units)
Table 76 France: Market, By Product, 2017–2027 (USD Million)
Table 77 UK: Market, By Product, 2017–2027 (Million Units)
Table 78 UK: Market, By Product, 2017–2027 (USD Million)
Table 79 Spain: Market, By Product, 2017–2027 (Million Units)
Table 80 Spain: Market, By Product, 2017–2027 (USD Million)
Table 81 Rest of Europe: Market, By Product, 2017–2027 (Million Units)
Table 82 Rest of Europe: Market, By Product, 2017–2027 (USD Million)
Table 83 North America: Market, By Country, 2017–2027 (Million Units)
Table 84 North America: Market, By Country, 2017–2027 (USD Million)
Table 85 US: Market, By Product, 2017–2027 (Million Units)
Table 86 US: Market, By Product, 2017–2027 (USD Million)
Table 87 Canada: Market, By Product, 2017–2027 (Million Units)
Table 88 Canada: Market, By Product, 2017–2027 (USD Million)
Table 89 Mexico: Market, By Product, 2017–2027 (Million Units)
Table 90 Mexico: Market, By Product, 2017–2027 (USD Million)
Table 91 RoW: Market, By Country, 2017–2027 (Million Units)
Table 92 RoW: Market, By Country, 2017–2027 (USD Million)
Table 93 Brazil: Market, By Product, 2017–2027 (Million Units)
Table 94 Brazil: Market, By Product, 2017–2027 (USD Million)
Table 95 Russia: Market, By Product, 2017–2027 (Million Units)
Table 96 Russia: Market, By Product, 2017–2027 (USD Million)
Table 97 Rest of RoW: Market, By Product, 2017–2027 (Million Units)
Table 98 Rest of RoW: Market, By Product, 2017–2027 (USD Million)
Table 99 Expansions, 2015–2017
Table 100 Supply Contract, 2015–2017
Table 101 New Product Launches/Developments, 2016–2017
Table 102 Partnership/Joint Ventures, 2016–2017
Table 103 Mergers/Acquisition, 2015–2017


List of Figures (58 Figures)

Figure 1 Global Market Segmentation
Figure 2 Market: Research Design
Figure 3 Research Design Model
Figure 4 Breakdown of Primary Interviews
Figure 5 Data Triangulation
Figure 6 Market: Market Outlook
Figure 7 Market, By Region, 2019 vs 2024 vs 2027 (USD Million)
Figure 8 Stringent Emission Norms & Fuel Economy Standards to Drive the Market in the Next 5 Years
Figure 9 Asia Oceania to Hold the Largest Share in the Market, 2019 (Value)
Figure 10 US Market to Grow at the Highest Rate During the Forecast Period, 2019–2027 (Value)
Figure 11 Electric Power Steering (EPS) to have the Largest Market Size During the Forecast Period (Value)
Figure 12 Passenger Car Segment to Hold the Largest Market Share, 2019 (Value)
Figure 13 ICE & Micro-Hybrid Vehicles are Expected to have the Largest Market for Vehicle Electrification, 2019 vs 2027 (Value)
Figure 14 Market: Market Dynamics
Figure 15 Vehicle Electrification With Potential Fuel Savings
Figure 16 Porter’s Five Forces Analysis
Figure 17 Capital-Intensive Nature and High R&D Expenditure of Electric Vehicle Industry to have the Highest Impact on New Market Entrants
Figure 18 Unavailability of Sufficient Infrastructure and Product Range Lowers the Threat of Substitutes
Figure 19 High Switching Cost and Backward Integration Impacts the Bargaining Power of Suppliers
Figure 20 Limited Number of Substitutes and Lower Volume of Purchases Lead to A Decrease in Buyer Bargaining Power
Figure 21 High Industry Growth Rate and Exit Barriers Drive the Intensity of Competitive Rivalry
Figure 22 48v Mild Hybrid Market, By Region
Figure 23 Load Distribution of 12v/48v Architecture
Figure 24 Cable Thickness vs Maximum Power
Figure 25 Primary Insight
Figure 26 Market Outlook, By Product Type, By Value, 2019 vs 2027
Figure 27 Primary Insight
Figure 28 Market, By Vehicle Type, 2019 vs 2027 (USD Million)
Figure 29 Market, By Degree of Hybridization, 2017 vs 2027
Figure 30 Primary Insight
Figure 31 Hybrid Technology
Figure 32 Research Methodology
Figure 33 Primary Insight
Figure 34 Region-Wise Snapshot of the Market (Value): Asia Oceania Accounts for the Largest Market Share, 2019 vs 2027
Figure 35 Asia Oceania: Market Snapshot
Figure 36 Asia Oceania: Market, 2019 vs 2027 (USD Million)
Figure 37 Europe: Market Snapshot
Figure 38 Europe: Market, 2019 vs 2027 (USD Million)
Figure 39 North America: Market, 2019 vs 2027 (USD Million)
Figure 40 RoW: Market, 2019 vs 2027 (USD Million)
Figure 41 Market: Vendor Dive Analysis
Figure 42 Market Ranking, 2017
Figure 43 Companies Adopted Expansions as the Key Growth Strategy, 2014–2019
Figure 44 Bosch: Company Snapshot
Figure 45 Bosch: SWOT Analysis
Figure 46 Continental: Company Snapshot
Figure 47 Continental: SWOT Analysis
Figure 48 Denso: Company Snapshot
Figure 49 Denso: SWOT Analysis
Figure 50 Delphi: Company Snapshot
Figure 51 Mitsubishi: Company Snapshot
Figure 52 Mitsubishi: SWOT Analysis
Figure 53 Borgwarner: Company Snapshot
Figure 54 Borgwarner: SWOT Analysis
Figure 55 Johnson Electric: Company Snapshot
Figure 56 Magna: Company Snapshot
Figure 57 Aisin Seiki: Company Snapshot
Figure 58 Johnson Control: Company Snapshot

The study involves 4 main activities to estimate the current size of the vehicle electrification market. Exhaustive secondary research was done to collect information on the market, such as the use of diagnostics as well as prognostics solution in vehicle types. The next step was to validate these findings, assumptions, and market analysis with industry experts across value chains through primary research. A top-down approach was employed to estimate the complete market size of different segments considered in this study.

Secondary Research

The secondary sources referred for this research study include annual reports, press releases and investor presentations of companies, white papers, certified publications, articles from recognized authors, directories, databases, and articles from recognized associations and government publishing sources. Various data points have been collected through secondary research such as key company’s revenues, gross booking, number of plants and upcoming plants, average length of the conveyor, and average selling price of the conveyor.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- and supply-side players across 4 major regions, namely, North America, Europe, Asia Oceania, and rest of the world (RoW). Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report. The primary validations include the base market size, forecasted market size, CAGR, segment level data, and trends of each segment.

After interacting with industry experts, we have also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject-matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Market Size Estimation

The bottom-up approach has been used to estimate and validate the size of the global market. In this approach, vehicle production statistics for each vehicle type (passenger car, LCV, and EV) at a country and regional level have been considered.

To determine the market size, in terms of volume, country-level vehicle production has been taken into consideration. Installation trends for each component in each vehicle type in each country considered under the scope of the study have been identified through secondary research and validated through primary research. The penetration rates were multiplied by the production volumes of all vehicle types to arrive at the market size, by volume, of key countries. This country-level market size, in terms of volume, is then multiplied with the country-level average OE price (AOP) of each component for each vehicle type. This results in the country-level market size, in terms of value. The summation of the country-level market gives the regional market, and further summation of the regional market provides the global market. Similar methodology has been followed for market of EVs (BEV, HEV, and PHEV) on the basis of component.

Data Triangulation

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All parameters that are said to affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The data has been consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in this report.

Objectives of the Study:

  • To analyze and forecast the market size, in terms of volume (million units) and value (USD million), of the market
  • To define, describe, and project the market by product type [start/stop system, electric power steering (EPS), electric air-conditioner compressor, electric vacuum pump, electric oil pump, and electric water pump, liquid heater PTC, integrated starter generator, starter motor, alternator, and actuator]
  • To define, describe, and project the market by degree of hybridization [internal combustion engine (ICE) and micro hybrid vehicle, hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), battery electric vehicle (BEV) and 48V vehicle]
  • To define, describe, and project the 48V market for vehicle electrification
  • To define, describe, and project the market by region (Asia Oceania, North America, Europe, and Rest of the World)
  • To define, describe, and project the market by vehicle type (passenger car and LCV)
  • To understand the market dynamics, and the impact of market dynamics on the market, market ranking analysis of key vehicle electrification suppliers, and profiles of the top 15 vehicle electrification components suppliers

Vehicle Electrification Market

To know about the assumptions considered for the study, download the pdf brochure

The vehicle electrification market consists of vehicle electrification technology suppliers such as Bosch (Germany), Continental (Germany), Denso (Japan), Delphi (UK), and Johnson Electric (Hong Kong). Vehicle electrification components are supplied to major OEMs in the automotive industry such as Volkswagen (Germany), Toyota Motor Corporation (Japan), and Honda Motor Co Ltd. (Japan) and others.

Target AudiencE

  • Suppliers of vehicle electrification
  • Raw material manufacturers of vehicle electrification components (suppliers for Tier I)
  • Traders, distributors, and suppliers of vehicle electrification components or raw materials
  • Regional manufacturer associations
  • Automotive OEMs
  • Organized and unorganized aftermarket suppliers
  • Government’s national and regional environmental regulatory agencies or organizations

Scope of the Report

Report Metric

Details

Years considered for the study

2019–2025

 

Market Size Available for Years

 

2017–2027

Base Year Considered

2017

Forecast Period

2019–2027

Forecast Units

Value (USD) and Volume (Million Units)

Segments Covered

Product Type, 48V, Vehicle Type, Degree of Hybridization, Region

Geographies Covered

Asia Oceania, Europe, North America, and RoW

Companies Covered

Bosch (Germany), Continental (Germany), Denso (Japan), BorgWarner (US), and Mitsubishi Electric (Japan)
Total 15 major players covered

Market by Product, 48V, ICE, BEV, HEV, PHEV, Vehicle Type, and Region

market, by 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

market, by degree of hybridization

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

48V mild-hybrid market

market, by region

  • Asia Oceania
  • Europe
  • North America
  • RoW

Available Customizations

market, by degree of hybridization & country

  • Asia Oceania
    • China
    • Japan
    • South Korea
    • India
    • Rest of Asia Oceania
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Rest of Europe
  • North America
    • US
    • Mexico
    • Canada
  • Rest of the World
    • Brazil
    • Russia
    • Rest of RoW

48V, By Region

  • Asia Oceania
  • Europe
  • North America
  • RoW
    Report Code
    AT 2839
    Published ON
    Jun, 2019
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