The Worldwide Vehicle Electrification Industry is Expected to Reach $121.6 Billion by 2027 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 4, 2023--
The “Vehicle Electrification: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Vehicle Electrification estimated at US$74 Billion in the year 2020, is projected to reach a revised size of US$121.6 Billion by 2027, growing at a CAGR of 7.3% over the analysis period 2020-2027.
Electric Power Steering, one of the segments analyzed in the report, is projected to record a 8.9% CAGR and reach US$36.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Starter Motors & Alternators segment is readjusted to a revised 6.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $20.4 Billion, While China is Forecast to Grow at 12.2% CAGR
The Vehicle Electrification market in the U.S. is estimated at US$20.4 Billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$27.3 Billion by the year 2027 trailing a CAGR of 12.6% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 7.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$16.3 Billion by the year 2027.
Start / Stop Systems Segment to Record 7.2% CAGR
In the global Start / Stop Systems segment, USA, Canada, Japan, China and Europe will drive the 7.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.3 Billion in the year 2020 will reach a projected size of US$11.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 8.8% CAGR through the analysis period.
Select Competitors (Total 46 Featured) -
- Aisin Seiki Co., Ltd.
- Aptiv PLC
- BorgWarner, Inc.
- Continental AG
- Denso Corporation
- Hitachi Automotive Systems Ltd.
- Johnson Controls, Inc.
- Johnson Electric Holdings Ltd.
- JTEKT Corporation
- Magna International, Inc.
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Valeo SA
- WABCO Holdings Inc.
- ZF Friedrichshafen AG
What’s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Vehicle Electrification - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/vd9ctn
View source version on businesswire.com:https://www.businesswire.com/news/home/20230104005808/en/
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INDUSTRY KEYWORD: RECREATIONAL VEHICLES VEHICLE TECHNOLOGY PERFORMANCE & SPECIAL INTEREST EV/ELECTRIC VEHICLES OFF-ROAD TRUCKS & SUVS FLEET MANAGEMENT ALTERNATIVE VEHICLES/FUELS GENERAL AUTOMOTIVE AUTONOMOUS DRIVING/VEHICLES AUTOMOTIVE AUTOMOTIVE MANUFACTURING OTHER AUTOMOTIVE MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2023.
PUB: 01/04/2023 12:12 PM/DISC: 01/04/2023 12:12 PM