DUBLIN , Sept. 13, 2022 /PRNewswire/ -- The "Vehicle Electrification Market, by Product Type, by Degree of Hybridization, by Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
Conventional internal combustion engines featuring mechanical linkages were characterized by significant loss of efficiency, owing to its friction and high energy requirement.
Electric components that prominently include the electric power steering, positive temperature coefficient liquid heater, air compressor, vacuum, pumps, starter generators, and actuators among others, enhance the automotive fuel efficiency, add to the users comfort, and also reduce the environmental impacts of the carbon emissions from these automotive.
Advent of electric vehicles with better battery backup and optimum driving speeds has in turn fueled the demand for the vehicle electrification market for environment friendly automotive industry over the near future.
Requirement to improve automotive fuel economy, reduce carbon footprint, need to enhance driver awareness regarding the safety in conjunction with the added comfort and compliance with the regional regulations is expected to be among the prominent factors driving the market growth.
Moreover, feature enhancements that include less space requirements, highly sensitive outputs, and robust performance with relatively better durability also adds to the consumer motivation for the adoption of these systems. For instance, hydraulic power steering systems are more complicated, weight more, require regular maintenance of hydraulic fluids, and are more prone to faults in relation to electrical power steering (EPS) system.
EPS system also offer better sensitive response at distinct speeds and consume less power, adding to the mileage of the automotive. However, high cost of the electronic and electric components are expected to be the major factors hampering the global vehicle electrification market growth.
Key features of the study:
This report provides an in-depth analysis of global vehicle electrification market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2022 to 2030), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading market players
It profiles leading players in the global vehicle electrification market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
The global vehicle electrification market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vehicle electrification market
Market Dynamics, Regulations, and Trends Analysis
Global Vehicle Electrification Market, By Product Type:
Global Vehicle Electrification Market, By Degree of Hybridization:
Plug-In Hybrid Electric Vehicle (PHEV)
Micro-Hybrid Vehicle & Internal Combustion Engine (ICE)
Global Vehicle Electrification Market, By Region
Rest of Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/si70un
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