Edison, NJ -- (SBWIRE) -- 08/17/2021 -- Latest business intelligence report released on Global Automotive Electrification Market, covers different industry elements and growth inclinations that helps in predicting market forecast. The report allows complete assessment of current and future scenario scaling top to bottom investigation about the market size, % share of key and emerging segment, major development, and technological advancements. Also, the statistical survey elaborates detailed commentary on changing market dynamics that includes market growth drivers, roadblocks and challenges, future opportunities, and influencing trends to better understand Automotive Electrification market outlook.
List of Key Players Profiled in the study includes market overview, business strategies, financials, Development activities, Market Share and SWOT analysis:
Johnson Electric (Hong Kong), Volkswagen (Germany), Toyota (Japan), Honda (Japan), Mitsubishi Electric (Japan), BorgWarner (United States), Magna (Canada), Aisin Seiki (Japan), ZF Friedrichshafen AG (Germany), Hitachi (Japan), WABCO (Belgium)
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Brief Overview on Automotive Electrification:
Automotive electrification is the process of electrifying vehicles and on new developments for climate-friendly hybrid and electric vehicles in order to shape safe, connected, efficient and comfortable mobility. A continuously growing demand for electric vehicles all over the globe is the most contributing factor which is driving the growth of automotive electrification market. Moreover, constantly growing concerns regarding exhaustion of fossil fuels and degrading environmental conditions are the major factors which are stimulating the demand of electric vehicles.
Key Market Trends:
Rapid adoption of electric vehicles
Governments of various countries such as US are actively supporting vehicle electrification by providing tax exemption and subsidies
Opportunities:
Electrification of commercial vehicles
Flourishing automotive industry in various regions such as Asia-Pacific, Africa and other.
The rise of technological advancements and tax exemption provided by the government on the purchase of electrified vehicles
Market Growth Drivers:
In the first quarter of 2018, approximately 54,000 electric vehicles were sold globally, recording a 32% year-on-year growth. Such a growth in the sales of electric vehicles, as a result of increasing environmental awareness among consumers along with the implementation of stringent emission laws by government, and increasing demand for more fuel efficient vehicles are the major factors which are fueling the growth of the vehicle electrification market across the globe.
Challenges:
Lack of charging infrastructure for electric vehicles.
High cost of the batteries that run the electric vehicles are hampering the growth of the global vehicle electrification market.
Segmentation of the Global Automotive Electrification Market:
by Type (Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle, Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV)), Application (Passenger Vehicles, Light & heavy commercial vehicles)
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Geographically, the following regions together with the listed national/local markets are fully investigated:
- APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)
Furthermore, the years considered for the study are as follows:
Historical data – 2016-2020
The base year for estimation – 2020
Recent Estimated Year – 2021
Forecast period** – 2021 to 2026 [** unless otherwise stated]
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Summarized Extracts from TOC of Global Automotive Electrification Market Study
Chapter 1: Exclusive Summary of the Automotive Electrification market
Chapter 2: Objective of Study and Research Scope the Automotive Electrification market
Chapter 3: Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis
Chapter 4: Market Segmentation by Type, End User and Region/Country 2016-2026
Chapter 5: Decision Framework
Chapter 6: Market Dynamics- Drivers, Trends and Challenges
Chapter 7: Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 8: Appendix, Methodology and Data Source
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