Vehicle Electrification Market

Market Leader - Vehicle Electrification Market

Decreased vehicle emission limits and increased fuel economy standards are the key factors influencing the demand for the vehicle electrification market. The vehicle electrification market is projected to grow at a CAGR of 8.17% from 2017 to 2022, and is estimated to reach USD 92.59 Billion by 2022.

Expansion is a key strategy adopted by the top players to gain traction in the market. For instance, Robert Bosch GmbH (Germany) has established a new facility in Queretaro, Mexico, which represents the first automotive steering division operations in Mexico by Bosch Group. Likewise, Delphi's electrical and electronic architecture business began the construction of a new plant in Jingzhou, China. It will cater to the Chinese market and will begin its operation by October 2017.

New product development is the second most widely followed strategy in the market. For instance, Delphi Automotive PLC (U.K.) has developed a new 48-volt mild hybrid solution to meet emission regulations and minimize the engine load, leading to decreased emissions & improved efficiency. Johnson Electric launched a high power electric power steering motor to provide high steering power and low cogging torque through innovative brush motor technology. Other companies that adopted the strategy of new product development include Continental AG (Germany) and Johnson Electric (Hong Kong).

The vehicle electrification market is dominated by a few global players and comprises several regional players. Robert Bosch GmbH (Germany) is a leading player in the global vehicle electrification market. The company manufactures electric oil pump, electric fuel pump, electric power steering, and belt drive starter generator with regional offices in 60 locations. The company’s sales network covers 150 countries across the globe. A diverse product portfolio along with a strong global presence helps the company maintain its leadership position in the market, keeping the revenue streams strong. The company has invested close to USD 6.99 billion in R&D and has also been focusing on expansion as its key strategy. The company has invested USD 40 million in the expansion of its technical center in Michigan, U.S. to enable the development of several key technologies including automotive electronics, start/stop motors, electrical drives, and a variety of safety and driver assistance systems. The company has also expanded via mergers and acquisitions with key players. For instance, the Bosch Group acquired the steering business of ZF Friedrichshafen. ZF Friedrichshafen AG incorporated into the Bosch Group as a new division with the name Robert Bosch Automotive Steering GmbH. Therefore, Bosch has emerged as a dominant player in the vehicle electrification market.

Continental AG (Germany) is identified as the second leading supplier in the vehicle electrification market. The company offers a wide variety of products related to vehicle electrification under the chassis & safety division and powertrain division. The company has a wide regional presence and is present in 49 countries with 300 different locations in all the key regions. It has adopted the strategy of new product development to increase and sustain its presence in the vehicle electrification market. Continental AG (Germany) has produced the world’s first hybrid drive that run on 48V architecture. Based on the company’s publication, the system can reduce the fuel consumption in the new European driving cycle by up to 13%. Continental has electrified one diesel variant of both the new Renault Scénic and Grand Scénic models. Its key clients include original equipment manufacturers (OEM) such as General Motors (U.S.), Volkswagen (Germany), Ford Motor Company (U.S.), and Daimler AG (Germany) among others.

Related Reports:

Vehicle Electrification Market by Product (Start-Stop, PTC, EPS, Electric Air-Conditioner, ISG, Starter Motor, Alternator, Actuator, Electric Pump-Vacuum, Oil & Water), 48V Mild-Hybrid, Degree of Hybridization, and Vehicle Type - Global Forecast to 2022

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Report Code
AT 2839
Published ON
Jun, 2017
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