According to a market report by Lucintel, the future of the global vehicle electrification market looks promising with opportunities in the original equipment manufacturer and aftermarket markets. The global vehicle electrification market is expected to reach an estimated $169.0 billion by 2030 from $97.0 billion in 2024, at a CAGR of 9.7% from 2024 to 2030. The major drivers for this market are growing demand for hybrid vehicles and increasing adoption of fuel-efficient transportation solutions.
A more than 150-page report to understand trends, opportunity and forecast in vehicle electrification market to 2030 by product type (starter motor, alternator, electric car motors, electric power steering, actuators, start/stop system, and others), vehicle type (internal combustion engine (ICE) & micro-hybrid vehicle, plug-in hybrid electric vehicle (PHEV) & battery electric vehicle (BEV), and hybrid electric vehicle (HEV)), sales channel (original equipment manufacturers (OEM) and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that, within the product type category, electric power steering segment will remain the largest segment over the forecast period.
Within the sales channel category, aftermarket is expected to witness the highest growth over the forecast period.
Download sample by clicking on vehicle electrification market
In terms of regions, North America is expected to witness the highest growth over the forecast period.
BorgWarner, FRIEDRICHSHAFEN, Denso Corporation, CONTINENTAL, Magna International, Hitachi Automotive Systems, Robert Bosch, Johnson Electric Holdings, Delphi Technologies, AISIN SEIKI are the major suppliers in the vehicle electrification market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected] To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
Explore Our Latest Publications
Physical Vapor Deposition Market
Precursor Material Market
Radio Frequency Front End Market
Semiconductor Bonding Equipment Market
Semiconductor Bus Switches Market