Vehicle Electrification Market worth $129.6 billion by 2025

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MarketsandMarkets Presents

Vehicle Electrification Market worth 129.6
billion by 2025
http//www.marketsandmarkets.com/Market-Reports/ve
hicle-electrification-market-224946587.html
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According to the new market research report
"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",
Published by MarketsandMarkets, Vehicle
Electrification Market is projected to grow at a
CAGR of 11.9 to reach USD 129.6 billion by 2025
from USD 73.7 billion. 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 a
preferred option by OEMs soon. Browse 152 market
data Tables and 63 Figures spread through 212
Pages and in-depth TOC on "Vehicle
Electrification Market The Vehicle
Electrification Market is dominated by a few
global players and comprises several regional
players. Some of the key suppliers operating in
the market are Robert Bosch GmbH (Germany),
Continental AG (Germany), Delphi Automotive PLC
(UK), Denso Corporation (Japan), and Johnson
Electric (Hong Kong). Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id224946587
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Passenger car is estimated to be the largest
segment for the Vehicle Electrification
Market Electrification of a vehicle is
considered the best way to reduce carbon
emissions, increase vehicle efficiency, and
reduce dependency on oil. Vehicle electrification
generates newer opportunities for consumer
engagement, along with various environmental and
economic benefits. The production of passenger
cars is very high compared to other vehicle
types. The production of passenger cars in Asia
Oceania is the highest with more than 49 million
units, followed by Europe with more than 18
million units. 48V architecture is expected to
be dominated by Europe According to
MarketsandMarkets analysis, Europe is estimated
to have a 45.5 share of the total 48V vehicle
market in 2019. Developed infrastructure such as
charging stations, limited range of present day
BEVs, and high cost of HEVs and PHEVs are the few
reasons why 48V vehicles are preferred over
hybrid vehicles in Europe. This trend is
estimated to continue for the next 10 years. The
48V system consists of a 48V Li-ion battery,
DC/DC converter, and an integrated starter
generator (ISG). Without replacing the present
12V architecture completely, 48V architecture can
work parallelly with the combustion engine and
regular 12V battery. This parallel combination
helps boost the efficiency of electric parts like
electrical oil, coolant, and vacuum pump.
Considering the fact that emission norms in
Europe are very strict, 48V vehicle is expected
to hold a significant market in the near future.
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North America is the fastest growing market
for vehicle electrification The North American
Vehicle Electrification Market has a very
positive outlook, owing to effective
infrastructure and tax exemption, subsidies, and
special facilities provided by governments of
different countries in the region. The US is set
to dominate the North American Vehicle
Electrification Market 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. As
ICE vehicle has the largest share in vehicle
production, it is expected to hold the largest
market for vehicle electrification.
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ehicle-electrification-market-224946587.html
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