DUBLIN, June 15, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Vehicle Electrification Market by Product (Start-Stop, PTC, EPS, Electric Air-Conditioner, ISG, Starter Motor, Alternator, Actuator, Pump-Vacuum, Oil & Water), 48V Mild-Hybrid, Degree of Hybridization and Vehicle Type - Global Forecast to 2022" report to their offering.
The vehicle electrification market is projected to grow at a CAGR of 8.17% from 2017 to 2022, to reach a market size of USD 92.59 Billion by 2022. Requirement for light weighting to achieve improved fuel efficiency and reduced tail-pipe emissions as well as increased demand for safety, comfort, and luxury are the key factors influencing the demand for vehicle electrification during the forecast period.
Electric vacuum pump, an alternative to its mechanical counterpart, is identified as the fastest growing segment in the vehicle electrification market. The growth of this segment would be strengthened with the adoption of 48V architecture. Electric power steering (EPS) is estimated to have the largest market size in the vehicle electrification market. EPS reduces fuel consumption as compared to hydraulic power steering and improves the manoeuvrability of the vehicle.
Plug-in hybrid electric vehicle is estimated to be the fastest growing segment in the vehicle electrification market, by degree of hybridization. Automakers are seeing plug-in hybrids as the gateway to fully electric vehicles. Government tax incentives and state rebates have boosted the proliferation of plug-in hybrid vehicles. ICE and micro-hybrid vehicles have the largest market size as they have the highest production and sales among all the vehicles types.
Asia-Oceania is estimated to be the largest market for vehicle electrification. The global market in this region is driven by automotive hubs such as China and India. The growing demand for electric vehicles in China and Japan, implementation of stringent emission norms, and low production costs are driving the Asia-Oceania market. North America is estimated to be the fastest growing market for vehicle electrification. The growth in this region is driven by increasing charging infrastructure and significant investment by OEMs in the development of vehicle electrification. Federal tax credits and rebate incentives are further accelerating the growth of the vehicle electrification market, especially in the U.S.
- Aisin Seiki Co. Ltd.
- Borgwarner Inc.
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- Hitachi Automotive Systems Ltd.
- Johnson Controls Inc.
- Johnson Electric
- Jtekt Corporation
- Magna International Inc.
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Valeo Sa
- Wabco Holdings Inc.
- ZF Friedrichshafen AG
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Vehicle Electrification Market, By Product Type
7 Vehicle Electrification Market, By Degree of Hybridization
8 48v Mild Hybrid Market, By Region
9 Vehicle Electrification Market, By Vehicle Type & By Country
10 Competitive Landscape
11 Company Profile
For more information about this report visit https://www.researchandmarkets.com/research/76668p/vehicle
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets