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Global Vehicle Electrification Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights
Vehicle Electrification Market
The global Vehicle Electrification Market research report offers an in-depth analysis of the global market size, which is further segmented into regional and country-level market size, and segmentation market growth. Also, it provides the market share, sales analysis, competitive Landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations.
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The Vehicle Electrification Market: Overview
Post-COVID-19 pandemic, the auto industry is expected to revive and witness several transformations owing to the boost in the electric vehicle category. Moreover, government policies are anticipated towards simplifying the buying process and offering subsidies. On the other hand, infrastructural developments are projected to have a significant impact on market growth in the post-pandemic world.
Vehicle electrification is an intermittent process and requires a relevant infrastructure to continue providing a consistent service. In terms of consumers, the market is already witnessing a paradigm shift in demand and patterns of spending in the electric vehicle category.
The Vehicle Electrification Market: Growth Factors
The Vehicle Electrification Market is propelled by the growing awareness of the environment and the increase in the need for viable alternatives to address and reduce oil dependency for fuel generation.
The market is also influenced by the shift in consumer mindset and exhibiting a huge awareness of eco-friendly alternatives. Since mobility is an essential need, electrification can be an alternate method to eliminate carbon generation and fuel emissions. Moreover, government support for electric vehicles is also expected to propel market growth in the coming years. In addition, an increase in investments in the electric vehicle category is projected to relay market growth by leaps and bounds.
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Going forward, the demand for lightweight vehicles would remain higher owing to the cost-effectiveness and efficiency in fuel consumption obtained in micro-hybrid electric vehicles. OEM preference for a mild hybrid concept that is inclusive of a motor engine with a power of 20kW is expected to propel the demand for electric motors for automotive in the coming years.
The Vehicle Electrification Market: Key Insights
• As per the analysis shared by our research analyst, the Vehicle Electrification Market is estimated to grow annually at a CAGR of around 12.1% over the forecast period (2022-2030).
• In terms of revenue, the Vehicle Electrification Market size was valued at around USD 96.2 billion in 2021 and is anticipated to reach around USD 135.1 billion by 2030, growing at a CAGR of 12.1% till 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on the product, the electric oil pump segment was predicted to show maximum market share in the year 2021.
• Based on the scope of hybridization, the HEV segment was the leading revenue-generating category in 2021.
• On the basis of geography/region, the Asia Pacific region was the leading revenue generator in 2021.
Press Release For Vehicle Electrification Market: https://www.custommarketinsights.com/press-releases/global-vehicle-electrification-market/
The Vehicle Electrification Market: Regional Landscape
The Vehicle Electrification Market is dominated by the Asia Pacific region, followed by Europe. The market for Vehicle Electrification in Europe is witnessing huge growth attributed to the high demand for electric vehicles and favorable market conditions for EVs.
The shift in consumer mindset and the need for environmental sustainability in Europe is expected to have a huge significance on the regional market growth.
The Vehicle Electrification Market: Prominent Players
Continental AG
Denso
BorgWarner
Mitsubishi Electric
Bosch
Denso
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The Vehicle Electrification Market: Segments
By Product
Travel Agencies
Direct Booking
By Scope of Hybridization
Hybrid Electric Vehicle (HEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Battery-Electric Vehicle (BEV)
Internal Combustion and Micro-hybrid Vehicles
The Vehicle Electrification Market: Regions
North America
The U.S.
Canada
Mexico
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Check Out Some of Our Other Reports:
Global Electric Brake Booster Market: https://www.custommarketinsights.com/report/electric-brake-booster-market/
Global Off-highway Electric Vehicle Market: https://www.custommarketinsights.com/report/off-highway-electric-vehicle-market/
Global Electric Commercial Vehicle Market: https://www.custommarketinsights.com/report/electric-commercial-vehicle-market/
Global Electric Brake Booster Market: https://www.custommarketinsights.com/report/electric-brake-booster-market/
Global Electric Vehicle Actuator Market: https://www.custommarketinsights.com/report/electric-vehicle-actuator-market/
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Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
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