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Global Vehicle Electrification Market is expected to grow with a CAGR of 8.8% from 2023 to 2030.

Posted by Amrit Mahato on April 08, 2024 - 6:10am

This report describes the global market size of Vehicle Electrification Market from 2018 to 2021 and its CAGR from 2018 to 2021, and also forecasts its market size to the end of 2030 and its expected to grow with a CAGR of 8.8% from 2023 to 2030.

The process of incorporating electric power sources and technologies into different kinds of vehicles such as reducing or swapping out conventional internal combustion engines with electric propulsion systems is known as vehicle electrification. By lowering greenhouse gas emissions, increasing energy efficiency, and reducing reliance on fossil fuels, this shift seeks to achieve cleaner, more sustainable transportation. A variety of technologies are included in the category of vehicle electrification, including fuel cell electric vehicles (FCEVs), fully electric or battery electric vehicles (BEVs), and hybrid electric vehicles (HEVs).

Top Companies in the Global Vehicle Electrification Market: Robert Bosch GmbH, Continental AG, DENSO CORPORATION, Aptiv, Johnson Electric Holdings Limited, Mitsubishi Electric Corporation, Magna International Inc., AISIN CORPORATION, ZF Friedrichshafen AG, Valeo SA, others.

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By Product

Start/Stop System

Electric Power Steering

Liquid Heater Ptc

Electric Air Conditioner Compressor

Electric Vacuum Pump

Electric Oil Pump

Electric Water Pump

Starter Motor & Alternator

Integrated Starter Generator



By Hybridization

Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle




Business opportunities of Vehicle Electrification Market in the following regions and countries:

North America (USA, Canada and Mexico)
Europe (Germany, Great Britain, France, Italy, Russia, Spain and Benelux countries)
Asia Pacific (China, Japan, India, Southeast Asia, and Australia)
Latin America (Brazil, Argentina and Colombia)
Remaining Countries

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