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Vehicle Electrification Market by Product, 48V Mild-Hybrid, Degree of Hybridization, and Vehicle Type - Global Forecast

Vehicle Electrification Market by Product, 48V Mild-Hybrid, Degree of Hybridization, and Vehicle Type - Global Forecast to 2022

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Vehicle Electrification Market by Product, 48V Mild-Hybrid, Degree of Hybridization, and Vehicle Type - Global Forecast

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  1. Vehicle Electrification Market by Product, 48V Mild-Hybrid, Degree of Hybridization, and Vehicle Type - Global Forecast to 2022 www.MarketsandMarkets.com

  2. The Vehicle Electrification Marketis projected to grow at a CAGR of 8.17% from 2017 to 2022, to reach a market size of USD 92.59 billion by 2022 from USD 62.53 billion in 2017. Stringent emission and fuel efficiency norms, increasing demand for reliable electric systems in vehicles are the major drivers for the vehicle electrification market. Electric vacuum pump is the fastest growing segment globally. It has become alternative to mechanical vacuum pump. The demand for electric vacuum pump is increasing owing to stringent emission regulations and adoption of 48V architecture. Electric power steering (EPS) is having the largest market size in the vehicle electrification market. The EPS reduces fuel consumption and emissions, limits the servicing required, and improves the maneuverability of the vehicle. Because of these benefits OEMs are increasingly offering EPS in their vehicle. PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=224946587

  3. Plug-In hybrid electric vehicle is the fastest growing segment in the vehicle electrification market.  Automakers are seeing plug-in hybrids are to be the gateway to fully electric vehicles. Government tax incentives and state rebates have boosted proliferation of plug-in hybrid vehicles.  ICE and micro-hybrid vehicles have the largest market size as they have highest production and sales among the all vehicles types. The Asia-Oceania is estimated to be the largest market for vehicle electrification. The vehicle electrification market in this region is driven by automotive hubs such as China and India. The growing demand for electric vehicles in China and Japan, implementation of stringent emission norms, and low production costs are driving the Asia-Oceania market. North America is expected to be fastest growing market for vehicle electrification. The growth in this region is propelled by increasing charging infrastructure, and significant investment by OEMs in development of vehicle electrification. Federal tax credits and rebate incentives is accelerating growth of vehicle electrification market especially in the U.S. Request for Customization : https://www.marketsandmarkets.com/requestCustomization.asp?id=224946587

  4. Rising need of 48V architecture drive the growth of vehicle electrification market All the leading OEMs are replacing the mechanically driven components and systems with more efficient electrical components such as electric power steering, electric vacuum pump, electric water pump, and start-stop system among others to improve fuel economy and reduce emissions. Furthermore, there are additions of new safety and comfort features such as adaptive cruise control, lane keep assist, blind spot monitoring, heated seats, heated steering wheels, and heated windshields among others, which is increasing load requirements on conventional 12V battery system. A 48V architecture would give vehicle electrical systems greater stability and reduce fluctuations in vehicle voltage levels due to external conditions such as ambient temperature. Several leading players such as Continental AG (Germany) and Delphi Automotive PLC (U.K.) have developed 48V architecture for hybrid vehicles by key OEMs. Request for Sample : https://www.marketsandmarkets.com/requestsample.asp?id=224946587

  5. Some of the key manufacturers operating in thevehicle electrification market market are Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC(U.K.), Johnson Electrics (Hong Kong).

  6. Contact:Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441

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