List of Contents

Vehicle Electrification Market Size, Share, and Trends 2024 to 2034

The global vehicle electrification market size was USD 113.73 billion in 2023, calculated at USD 128.06 billion in 2024 and is expected to reach around USD 419.55 billion by 2034, expanding at a CAGR of 12.6% from 2024 to 2034.

  • Last Updated : August 2024
  • Report Code : 1045
  • Category : Automotive

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Vehicle Electrification Market 

5.1. COVID-19 Landscape: Vehicle Electrification Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Vehicle Electrification Market, By Product

8.1. Vehicle Electrification Market, by Product, 2024-2034

8.1.1. Electric Power Steering (EPS)

8.1.1.1. Market Revenue and Forecast (2021-2034)

8.1.2. Integrated Starter Generator (ISG)

8.1.2.1. Market Revenue and Forecast (2021-2034)

8.1.3. Start/Stop System

8.1.3.1. Market Revenue and Forecast (2021-2034)

8.1.4. Electric Air Conditioner Compressor

8.1.4.1. Market Revenue and Forecast (2021-2034)

8.1.5. Liquid Heater Ptc

8.1.5.1. Market Revenue and Forecast (2021-2034)

8.1.6. Electric Oil Pump

8.1.6.1. Market Revenue and Forecast (2021-2034)

8.1.7. Electric Vacuum Pump

8.1.7.1. Market Revenue and Forecast (2021-2034)

8.1.8. Starter Motor & Alternator

8.1.8.1. Market Revenue and Forecast (2021-2034)

8.1.9. Electric Water Pump

8.1.9.1. Market Revenue and Forecast (2021-2034)

8.1.10. Actuators

8.1.10.1. Market Revenue and Forecast (2021-2034)

Chapter 9. Global Vehicle Electrification Market, By Hybridization

9.1. Vehicle Electrification Market, by Hybridization, 2024-2034

9.1.1. Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle

9.1.1.1. Market Revenue and Forecast (2021-2034)

9.1.2. Battery Electric Vehicle (BEV)

9.1.2.1. Market Revenue and Forecast (2021-2034)

9.1.3. Plug-in Hybrid Electric Vehicle (PHEV)

9.1.3.1. Market Revenue and Forecast (2021-2034)

9.1.4. Hybrid Electric Vehicle (HEV)

9.1.4.1. Market Revenue and Forecast (2021-2034)

Chapter 10. Global Vehicle Electrification Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Product (2021-2034)

10.1.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Product (2021-2034)

10.1.3.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Product (2021-2034)

10.1.4.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Product (2021-2034)

10.2.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Product (2021-2034)

10.2.3.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Product (2021-2034)

10.2.4.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Product (2021-2034)

10.2.5.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Product (2021-2034)

10.2.6.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Product (2021-2034)

10.3.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Product (2021-2034)

10.3.3.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Product (2021-2034)

10.3.4.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Product (2021-2034)

10.3.5.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Product (2021-2034)

10.3.6.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Product (2021-2034)

10.4.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Product (2021-2034)

10.4.3.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Product (2021-2034)

10.4.4.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Product (2021-2034)

10.4.5.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Product (2021-2034)

10.4.6.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Product (2021-2034)

10.5.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Product (2021-2034)

10.5.3.2. Market Revenue and Forecast, by Hybridization (2021-2034)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Product (2021-2034)

10.5.4.2. Market Revenue and Forecast, by Hybridization (2021-2034)

Chapter 11. Company Profiles

11.1. Continental

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Valeo

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Robert Bosch GmbH

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Denso

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Mitsubishi Electric Corporation

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Johnson Electric

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Delphi Automotive PLC

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

 

13.2. Glossary of Terms

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Frequently Asked Questions

The global vehicle electrification market size was accounted for USD 113.73 billion in 2024 and is projected to expand over USD 419.55 billion by 2034.

It covers different aspects of electrification in the vehicle such as electric power steering, start/stop systems, electric oil pump, electric vacuum pump, and many other accessories that utilizes electric propulsion mode as well as help consumers to experience improved fuel economy when installing in conventional ICE vehicles.

Robert Bosch GmbH is the most prominent market player in the global vehicle electrification market and offers its diverse solutions for vehicle electrification throughthe Mobility solution segment.

Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle dominated the global vehicle electrification market in the year 2019 and expected to witness a substantial growth in the coming years.

Vehicle electrification means a vehicle with electrical means of propulsion, in addition, function of components in those vehicles are driven by electrical energy.

Some of the key players operating in the market are Continental AG, Robert Bosch GmbH, Delphi Automotive PLC, Denso Corporation, Mitsubishi Electric Corporation, and Johnson Electric among others.

In 2019, the Asia Pacific captured the maximum revenue share in the global vehicle electrification market and experience attractive growth during the forecast period.

Electric Power Steering (EPS) witness high demand in 2023 and expected to grow at a significant rate during the forecast period.

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