Vehicle Electrification Market Expected to Reach $52.1 Billion by 2022 with CAGR of 15.3%
According to Stratistics MRC, the Global Vehicle Electrification Market accounted for $19.2 billion in 2015 and is expected to reach $52.1 billion by 2022 growing at a CAGR of 15.3% from 2015 to 2022. Rising demand for electric systems in vehicles, increasing demand for fuel efficient vehicles and increasing conventional fuels prices are some of the key factors fueling market growth. Moreover, tax exemptions and subsidies provided by governments, strict government norms on Carbon Monoxide (CO) emissions along with rising...
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