Vehicle Electrification Market Set to Witness an Uptick during 2018 to 2025Posted by Mrudula Anil Karmarkar on March 31st, 2022 The global vehicle electrification market is anticipated to reach USD 125.12 billion by 2025, according to a new report by Grand View Research, Inc. The growing demand for electrification in transport automobiles is increasing owing to social influence and acceptability to shift in favor of electrification via lowered usage of petroleum to energy-efficient vehicles. Moreover, regional legislation policies and regulatory efforts globally on strengthening CO2 emissions standard have been immensely contributing to the growth of the market. The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry\'s concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor. Integrated Starter Generator (ISG) product is expected to gain traction over the forecast period. The application of ISG in the vehicles helps the engine to instant and silently restart after the idle or traffic stop when the engines shut down to reduce emission and save fuel. ISG achieves vibration and noise-reduced operation improving the automobile comfort for the user. Further, ISG optimizes the electric energy by reducing the load of the engine which further drives the content of an electronic solution in the vehicle. The integrated starter generator in the automobile has significant influence to start the engine under extremely low-temperature conditions. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/vehicle-electrification-market/request/rs1 The demand for integrated started generator product type was valued at USD 4.97 billion in 2016 and is expected to reach over USD 11.16 billion by 2025. The internal combustion engine (ICE) & micro-hybrid vehicle is one of the largest segment in hybridization type. The growth of ICE & micro-hybrid automobiles is attributed to mechanical integration which yields significant fuel economy when it is idle in traffic or at a signal. Moreover, to meet the growing environmental challenges which are posed by several emission legislations automakers have developed various eco-solutions in the conventional ICE. Vehicle Electrification Market Report Highlights
Vehicle electrification refers to a vehicle with electrical means of propulsion as well as electricity paying a major role in components functionality. It covers many aspects of electrification in the such as start/stop systems, electric power steering, electric vacuum pump, electric oil pump, and many other accessories which utilize mode of electric propulsion as well as help user to gain improved fuel economy when installing in conventional ICE vehicles. Vehicle electrification influence consumer with higher efficiency and power decoupled from manual transmission in automobiles. The process is being observed in many automobiles that have ICE. For instance, the engine shuts down when the vehicle is idle or parked, and the electricity from the battery is used to power the car using a “start/stop system.” The convention system for powering up engines uses a lot of fuel, where else using an electric motor for start/stop systems reduces the engine load thereby improving fuel efficiency. Robert Bosch GmbH is expected to hold a major share in the global market when compared to other key competitors. The company offers vehicle electrification products through the Mobility solution segment. Moreover, the company emphasizes on new product development, product enhancement strategy, and expansion to strengthen its market position in the industry. Grand View Research has segmented the vehicle electrification market on the basis of product, hybridization: Product Outlook (Revenue, USD Million, 2014 - 2025)
Hybridization Outlook (Revenue, USD Million, 2014 - 2025)
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