1. Home
  2. > Automotive
  3. > Motor Vehicle
  4. > Electric Vehicle Market Trends
Vehicle Electrification Global Market Report 2022

Vehicle Electrification Global Market Report 2022

  • August 2022
  • 175 pages
  • ID: 6313417
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the vehicle electrification market are Continental AG, Delphi Technologies, Robert Bosch, Denso, Magna International, Johnson Electric, Mitsubishi Electric, Volkswagen, Toyota, Honda Motor Company, Johnson Controls and Aptiv.

The global vehicle electrification market is expected to grow from $67.47 billion in 2021 to $74.60 billion in 2022 at a compound annual growth rate (CAGR) of 10.56%. The vehicle electrification market is expected to grow to $114.25 billion in 2026 at a compound annual growth rate (CAGR) of 11.25%.

The vehicle electrification market consists of sales of vehicle electrification products by entities (organizations, sole traders, and partnerships) that are used to power the vehicle by electricity.It is the process of replacing vehicle components that operate on a conventional energy source with those that operate on electricity.

There are different types of vehicle electrification technologies such as hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel cell electric vehicles (FCEVs). Vehicle electrification relies on collaboration from interdisciplinary teams responsible for areas such as electric machines, power electronics, thermal management, and others.

The main product types included in vehicle electrification market are starter motor, alternator, electric car motors, electric water pumps, electric oil pump, electric vacuum pump, electric fuel pump, electric power steering, actuators and start/stop system.The starter motor is an electrical device used to rotate an internal combustion engine to initiate the engine operation on its own.

Vehicle electrification is mainly used in various vehicle types such as internal combustion engine vehicle, micro and full hybrid vehicle and plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV) and are sold through sales channels original equipment manufacturers (OEM) and aftermarket.

Asia Pacific was the largest region in the vehicle electrification market in 2021. The regions covered in the vehicle electrification market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The vehicle electrification market research report is one of a series of new reports that provides vehicle electrification market statistics, including vehicle electrification industry global market size, regional shares, competitors with a vehicle electrification market share, detailed vehicle electrification market segments, market trends and opportunities, and any further data you may need to thrive in the vehicle electrification industry. This vehicle electrification market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing demand for hybrid vehicles is propelling the growth of the vehicle electrification market.Hybrid vehicles have an internal combustion engine and one or more electric motors, any one source can be used to run the vehicle.

Hybrid vehicles provide fuel economy and help in reducing emissions as they provide an option to run on an electric battery.The increasing demand for hybrid vehicles is due to the shift of focus to reducing emissions by opting for electric vehicles.

The demand is also due to the rise in the income levels and the young population.As the demand increases for hybrid vehicles, there will be a significant need for electrification of vehicles as it is the way to make a normal vehicle a hybrid one.

For instance, according to the data from US-based analytics firm Wards Intelligence, the US sales of hybrid vehicle sales increased by 76% to 801,550 vehicles in 2021, representing 5% of US light vehicle sales. Sales of electric vehicles also increased by 83% to 434,879, representing 3% of the market. Therefore, the increasing demand for hybrid vehicles is expected to drive the vehicle electrification market.

Technological advancement is a key trend gaining popularity in the vehicle electrification market.Technological advancements are the discovery of knowledge that helps in developing products using advanced technology.

Major companies operating in the vehicle electrification market are focused on developing new technological solutions to meet customer demand and make vehicle electrification more advanced.These new technological solutions may include the introduction of advanced electrification methods and components such as an advanced and fast charger.

For instance, in September 2021, ABB, a Switzerland-based automation company launched the world’s fastest electric car charger named Terra 360.The Terra 360 is an innovative customizable all-in-one electric vehicle (EV) charger which can simultaneously charge up to four vehicles with dynamic power distribution and can deliver 100km of range in less than three minutes.

To personalize, customers can ’brand’ the chargers by using different foiling or changing the color of the LED light strips to tailor the appearance. It is ideal for urban charging stations, refueling stations, and fleet applications.

In June 2021, Ford Motor Company, a US-based automobile manufacturing company acquired Electriphi, for an undisclosed amount.The acquisition is expected to develop the most advanced charging and energy management experiences for commercial customers and enables Ford to lead the electrification revolution for commercial and retail customers.

Electriphi is a US-based provider of charging management and fleet monitoring software for electric vehicles and also offers fleet electrification.

The countries covered in the vehicle electrification market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Electric Vehicle Fluids Market Growth Opportunities, 2023 - Market Insights, Mega Trends, Companies, and Forecasts to 2030

  • $ 4880
  • November 2022
  • 170 pages

Electric Vehicle Fluids market outlook The Electric Vehicle Fluids Market analysis and outlook report presents forecasts by Type, Application, country, and companies. The Electric Vehicle Fluids market ...

  • World
  • Europe
  • Electric Vehicle
  • Industry analysis

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on