Vehicle Electrification Market Future Challenges ,Industry Analysis And Forecast
Posted by Neha Bora on January 17th, 2020
San Francisco, 17 January 2020: The Report Vehicle Electrification Market Analysis By Product (Start/Stop Systems, Electric Power Steering, Liquid Heater Ptc, Electric Oil Pump, Electric Water Pump, Starter Motor & Alternator), By Hybridization And Segment Forecasts, 2018 – 2025
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 vehicle. Moreover, regional legislation policies and regulatory efforts globally on strengthening CO2 emissions standard have been immensely contributing to the growth of the market.
Integrated Starter Generator (ISG) product is expected to gain traction over the forecast period. The application of ISG in vehicle 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 achieve 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 electronic solution in the vehicle. Integrated starter generator in the automobile has significant influence to start engine under extremely low-temperature conditions.
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.
Increasing user demand for eco-friendly solutions and stringent emission regulations are few key factors that are expected to impact the growth for internal combustion engine & micro-hybrid vehicle in the market over the forecast period. The internal combustion engine & micro-hybrid vehicle segment is anticipated to grow at a CAGR of 7.8% from 2017 to 2025.
Access Research Report of Vehicle Electrification Market @ https://www.grandviewresearch.com/industry-analysis/vehicle-electrification-market
Further key findings from the report suggest:
Grand View Research has segmented the vehicle electrification market on the basis of product, hybridization and region:
Product Outlook (Revenue, USD Million, 2014 - 2025)
Hybridization Outlook (Revenue, USD Million, 2014 - 2025)
Regional Outlook (Revenue, USD Million, 2014 - 2025)
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About the AuthorNeha Bora
Joined: September 16th, 2019
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