Vehicle electrification Market

Rising Need for 48v Architecture to drive Vehicle Electrification Market
The report "Vehicle Electrification Market by Product (Start-Stop, PTC, EPS, Electric Air-Conditioner, ISG,
Starter Motor, Alternator, Actuator, Electric Pump-Vacuum, Oil & Water), 48V Mild-Hybrid, Degree of
Hybridization, and Vehicle Type - Global Forecast to 2022", The vehicle electrification market is projected to
grow at a CAGR of 8.17% during the forecast period, to reach a market size of USD 92.59 Billion by 2022.
Owing to various benefits of electrification such as decreased vehicle weight, reduced emissions, increased
fuel efficiency, and driving comfort, vehicle electrification is expected to become a preferred option for OEMs
in the near future.
Browse 114 market data tables and 67 figures spread through 249 pages and in-depth TOC on "Vehicle
Electrification Market by Product (Start-Stop, PTC, EPS, Electric Air-Conditioner, ISG, Starter Motor,
Alternator, Actuator, Electric Pump-Vacuum, Oil & Water), 48V Mild-Hybrid, Degree of Hybridization, and
Vehicle Type - Global Forecast to 2022"
https://www.marketsandmarkets.com/Market-Reports/vehicle-electrification-market-224946587.html
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Electric vacuum pump is estimated to be the fastest growing segment in vehicle electrification market
Electric vacuum pump is projected to dominate the vehicle electrification market, in terms of value, by 2022.
The electric vacuum pump is frequently used in electric, hybrid, and diesel vehicles. Asia-Oceania and North
America are estimated to be the leading regions for the adoption of 48V mild-hybrid system, and hence, these
regions are leading the global electric vacuum pump market. Additionally, based on a European Commission
publication, CO2 emissions will be limited to 95 g/km as an average value throughout the vehicle fleet by
2020. This would further lead to the adoption of electric systems in vehicles. Countries such as India and
China, who are the leaders in global vehicle production, also have plans to upgrade their regulations
equivalent to Euro 6 by 2020. This would drive the demand for electric vacuum pump in these markets as the
technology has benefits over mechanical vacuum pump.
The market for ICE and micro-hybrid vehicles is estimated to witness the largest share in the vehicle
electrification market
According to MarketsandMarkets analysis, ICE and micro-hybrid vehicles are estimated to have the largest
share of the vehicle electrification market in 2017. The limited availability of infrastructure such as charging
stations for battery electric vehicles and high cost of hybrid electric vehicles and plug-in hybrid electric
vehicles have increased the preference for ICE and micro-hybrid vehicles over hybrid vehicles. This trend is
expected to continue for the next five years. With advancements in technology, Asia-Oceania and North
America are estimated to lead the market for ICE and micro-hybrid vehicle segments. In addition, with
increased competition between OEMs and wide choice of passenger and commercial vehicles, the demand for
ICE vehicles is estimated to grow, especially in emerging countries such as China and India.

Expansion is a key strategy adopted by the top players to gain traction in the market. For instance, Robert
Bosch GmbH (Germany) has established a new facility in Queretaro, Mexico, which represents the first
automotive steering division operations in Mexico by Bosch Group. Likewise, Delphi's electrical and electronic
architecture business began the construction of a new plant in Jingzhou, China. It will cater to the Chinese
market and will begin its operation by October 2017.
New product development is the second most widely followed strategy in the market. For instance, Delphi
Automotive PLC (U.K.) has developed a new 48-volt mild hybrid solution to meet emission regulations and
minimize the engine load, leading to decreased emissions & improved efficiency. Johnson Electric launched a
high power electric power steering motor to provide high steering power and low cogging torque through
innovative brush motor technology. Other companies that adopted the strategy of new product development
include Continental AG (Germany) and Johnson Electric (Hong Kong).
The vehicle electrification market is dominated by a few global players and comprises several regional players.
Robert Bosch GmbH (Germany) is a leading player in the global vehicle electrification market. The company
manufactures electric oil pump, electric fuel pump, electric power steering, and belt drive starter generator
with regional offices in 60 locations. The company’s sales network covers 150 countries across the globe. A
diverse product portfolio along with a strong global presence helps the company maintain its leadership
position in the market, keeping the revenue streams strong. The company has invested close to USD 6.99
billion in R&D and has also been focusing on expansion as its key strategy. The company has invested USD 40
million in the expansion of its technical center in Michigan, U.S. to enable the development of several key
technologies including automotive electronics, start/stop motors, electrical drives, and a variety of safety and
driver assistance systems. The company has also expanded via mergers and acquisitions with key players. For
instance, the Bosch Group acquired the steering business of ZF Friedrichshafen. ZF Friedrichshafen AG
incorporated into the Bosch Group as a new division with the name Robert Bosch Automotive Steering GmbH.
Therefore, Bosch has emerged as a dominant player in the vehicle electrification market.
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Asia-Oceania region is estimated to be the leading market for vehicle electrification
Asia-Oceania is estimated to dominate the vehicle electrification market, as the region represents countries
such as China, Japan, South Korea, and India with the world’s highest vehicle production. According to the
Organisation Internationale des Constructeurs d Automobiles (OICA) publication, these countries together
contributed ~53% to the global vehicle production in 2016. Additionally, owing to the easy availability of
economic labor, government support for FDI, and lenient regulations (as compared with Western countries),
the Asia-Oceania market has created promising opportunities for automobile manufacturersand component
suppliers.
Also, countries like China and India have plans to upgrade their emission regulations by 2020. For instance,
India is planning to skip BS V regulations by leapfrogging to BS VI. This is a positive development for the vehicle
electrification market. Additionally, the number of vehicles on the road is increasing owing to the improving
road infrastructure, consumer awareness regarding vehicle maintenance, and stringent fuel economy norms.
This would influence the vehicle electrification market.

The vehicle electrification market is dominated by a few global players and comprises several regional players.
Some of the key suppliers operating in the market are Robert Bosch GmbH (Germany), Continental AG
(Germany), Delphi Automotive PLC (U.K.), Denso Corporation (Japan), and Hitachi Electric (Hong Kong).
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