+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Vehicle Electrification: Global Strategic Business Report

  • PDF Icon

    Report

  • 246 Pages
  • February 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4806405

Global Vehicle Electrification Market to Reach $155.9 Billion by 2030

The global market for Vehicle Electrification estimated at US$87.3 Billion in the year 2022, is projected to reach a revised size of US$155.9 Billion by 2030, growing at a CAGR of 7.5% over the analysis period 2022-2030. Electric Power Steering, one of the segments analyzed in the report, is projected to record 9% CAGR and reach US$48.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Starter Motors & Alternators segment is readjusted to a revised 6.6% CAGR for the next 8-year period.

The U.S. Market is Estimated at $23.5 Billion, While China is Forecast to Grow at 12.5% CAGR

The Vehicle Electrification market in the U.S. is estimated at US$23.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$39.7 Billion by the year 2030 trailing a CAGR of 12.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 7.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.

Select Competitors (Total 46 Featured) -

  • Aisin Seiki Co., Ltd.
  • Aptiv PLC
  • BorgWarner, Inc.
  • Continental AG
  • Denso Corporation
  • Hitachi Automotive Systems Ltd.
  • Johnson Controls, Inc.
  • Johnson Electric Holdings Ltd.
  • JTEKT Corporation
  • Magna International, Inc.
  • Mitsubishi Electric Corporation
  • Robert Bosch GmbH
  • Valeo SA
  • WABCO Holdings Inc.
  • ZF Friedrichshafen AG

What's New?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and the publisher's Research Platform
  • Complimentary updates for one year

Frequently Asked Questions about the Global Market for Vehicle Electrification

What is the estimated value of the Global Market for Vehicle Electrification?

The Global Market for Vehicle Electrification was estimated to be valued at $87.3 Billion in 2022.

What is the growth rate of the Global Market for Vehicle Electrification?

The growth rate of the Global Market for Vehicle Electrification is 7.5%, with an estimated value of $155.9 Billion by 2030.

What is the forecasted size of the Global Market for Vehicle Electrification?

The Global Market for Vehicle Electrification is estimated to be worth $155.9 Billion by 2030.

Who are the key companies in the Global Market for Vehicle Electrification?

Key companies in the Global Market for Vehicle Electrification include Aisin Seiki Co., Ltd., Aptiv PLC, BorgWarner, Inc., Continental AG, Denso Corporation, Hitachi Automotive Systems Ltd., Johnson Controls, Inc., Johnson Electric Holdings Ltd., JTEKT Corporation and Magna International, Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Vehicle Electrification - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Vehicle Electrification by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 2: World Historic Review for Vehicle Electrification by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 3: World 16-Year Perspective for Vehicle Electrification by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Liquid Heater Ptc by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 5: World Historic Review for Liquid Heater Ptc by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 6: World 16-Year Perspective for Liquid Heater Ptc by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Actuators by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 8: World Historic Review for Actuators by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 9: World 16-Year Perspective for Actuators by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 10: World Vehicle Electrification Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 11: World Recent Past, Current & Future Analysis for Electric Power Steering by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 12: World Historic Review for Electric Power Steering by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 13: World 16-Year Perspective for Electric Power Steering by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Starter Motors & Alternators by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 15: World Historic Review for Starter Motors & Alternators by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 16: World 16-Year Perspective for Starter Motors & Alternators by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Start / Stop Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 18: World Historic Review for Start / Stop Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 19: World 16-Year Perspective for Start / Stop Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Electric Air Conditioner Compressors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 21: World Historic Review for Electric Air Conditioner Compressors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 22: World 16-Year Perspective for Electric Air Conditioner Compressors by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 23: World Recent Past, Current & Future Analysis for Electric Vacuum Pumps by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 24: World Historic Review for Electric Vacuum Pumps by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 25: World 16-Year Perspective for Electric Vacuum Pumps by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 26: World Recent Past, Current & Future Analysis for Product Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 27: World Historic Review for Product Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 28: World 16-Year Perspective for Product Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 29: World Recent Past, Current & Future Analysis for Internal Combustion Engine (ICE) & Micro-Hybrid Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 30: World Historic Review for Internal Combustion Engine (ICE) & Micro-Hybrid Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 31: World 16-Year Perspective for Internal Combustion Engine (ICE) & Micro-Hybrid Vehicles by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 32: World Recent Past, Current & Future Analysis for Hybrid Electric Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 33: World Historic Review for Hybrid Electric Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 34: World 16-Year Perspective for Hybrid Electric Vehicles by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 35: World Recent Past, Current & Future Analysis for Other Vehicle Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 36: World Historic Review for Other Vehicle Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 37: World 16-Year Perspective for Other Vehicle Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • CANADA
  • JAPAN
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • CHINA
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • EUROPE
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • GERMANY
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • ITALY
  • UNITED KINGDOM
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • AUSTRALIA
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
  • INDIA
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
  • Vehicle Electrification Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Aisin Seiki Co., Ltd.
  • Aptiv PLC
  • BorgWarner, Inc.
  • Continental AG
  • Denso Corporation
  • Hitachi Automotive Systems Ltd.
  • Johnson Controls, Inc.
  • Johnson Electric Holdings Ltd.
  • JTEKT Corporation
  • Magna International, Inc.
  • Mitsubishi Electric Corporation
  • Robert Bosch GmbH
  • Valeo SA
  • WABCO Holdings Inc.
  • ZF Friedrichshafen AG