Research and Markets has announced the addition of the "Vehicle Electrification Market by Product Type, Degree of Hybridization & Region - Trends & Forecast to 2019"report to their offering.
In this research study global vehicle electrification market is classified into three major segments such as vehicle electrification market by region (Asia-Oceania, North America, Europe, and RoW) along with key countries in each region, by product type (start/stop system, electric power steering (EPS), liquid heater PTC, electric air-conditioner compressor, electric vacuum pump, electric oil pump, and electric water pump) and by the degree of hybridization (internal combustion engine (ICE) and micro hybrid, hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and battery electric vehicle (BEV).
This report classifies and defines the global vehicle electrification market size in terms of volume and value in the vehicle electrification industry. Market size in terms of volume is provided in thousand units (000 units) from 2012 to 2019, whereas the market value is provided in terms of ($thousand).
The growth in this market is primarily propelled by increasing prices of conventional fuels, sales growth of electric vehicles (EVs), stringent emission norms and greater demand for engine downsizing and better fuel economy. In addition, tax exemption and subsidy provided by government of various countries will also create better opportunities for the vehicle electrification market.
Asia-Oceania is estimated to be the largest and fastest growing market for vehicle electrification market.Japan and China are the main contributors to the growth of vehicle electrification market in Asia-Oceania region. To cater this huge demand of the Asia-Oceania region many OEMs are expanding in to this region.
The report also provides a comprehensive review of market drivers, restraints, opportunities, challenges, and key issues in the global vehicle electrification market. The key players in the market for vehicle electrification have also been identified and profiled. Apart from quantitative analysis of these markets, the report also covers qualitative aspects such as value chain analysis, PEST analysis and Porter's five force analysis for the global vehicle electrification market. This report also provides qualitative data about vehicle electrification systems and its components.
The global vehicle electrification market is dominated by few major players with many other small/medium players. Few of the key players are Robert Bosch GmbH. (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), JTEKT Corporation (Japan), Nexteer Automotive (U.S.), TRW Automotive Holding s Corp. (U.S.) and Mitsubishi Electric Corporation (Japan). The major strategy adopted by these key market players is geographic expansion and new product development.
