Vehicle Electrification Market
Vehicle Electrification Market Size And Forecast
Vehicle Electrification Market was valued at USD 62.33 Billion in 2018 and is projected to reach USD 117.94 Billion by 2026, growing at a CAGR of 8.3% from 2019 to 2026.
Global Vehicle Electrification Market Outlook
The increasing adaption of technological advancement such as e-axle in electric vehicles is the primary factor for propelling the growth of the market. In addition, the increasing need for the lightly weighted vehicle production to enhance fuel-efficiency is imposing a positive outlook on the market growth. Furthermore, the rising need for 48v architecture is another factor driving the market growth. However, the cost associated with the electric system, and concerns related to maintaining power to weight ratio, expected to hamper the market growth.
Global Vehicle Electrification Market Competitive Landscape
The Global Vehicle Electrification Market study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Bosch, Continental AG, Aisin Seiki, Johnson Controls Denso Corporation, Delphi, Johnson Electrics, BorgWarner Inc., Mitsubishi, Magna International Inc.
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