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Vehicle Electrification Market Research Report Information By Voltage (14 V, 12 V, 48 V, 24 V), By Product Type (Electric Power Steering (EPS), Integrated Starter Generator (ISG), Stop/Start System, Liquid Heater PTC, Electric Oil Pump, Electric Vacuum Pump, Starter Motor), By degree of hybridization (Internal Combustion Engine (ICE) and Micro-Hybrid Vehicle, Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), 48 Mild-Hybrid Market) and By Region Market Forecast Till 2032


ID: MRFR/AM/1511-HCR | 128 Pages | Author: Swapnil Palwe| December 2024

Research Methodology on Vehicle Electrification Market


Market Research Future (MRFR) has used both primary and secondary sources of information to gather the data used to arrive at the market values, market growth projections, and key player and product segments. Primary sources are telephone interviews and surveys, as well as email interactions, with industry players. Users platform analytics and third-party market research institutions were used to glean information on the market, which would then be reconciled and studied further.


MRFR utilized both primary and secondary research sources, examining and researching an array of regional, national, and global research databases and reports. This encompassed relevant data from trade and government reports, existing supply chain reports, and statistical surveys. The research team was able to identify qualified sources for their work as well as for quantitative and qualitative data to make projections for market dynamics and competitive analysis along with forecasts for 2023 to 2030.


Primary sources methods utilized include:


- Trade associations


- Interviews with industry executives, professional associations, government agencies, and trade press


- Directories and product databases


- Consumer behaviour surveys and market research reports


- Company press releases


- Internal and external proprietary databases


- Suppliers, manufacturers, trade shows, and industry conferences


While secondary sources methods consisted of:


- Industry reports


- Global reports


- Company reports


- News and analyst information


- Magazine articles


- Research papers


- Books, conference proceedings & white papers


MRFR used the following sources to gather information and validate the market values and forecasts:


- Secondary Sources


- Company websites


- Bespoke research


- Published annual reports


- Quarterly reports


- Market reviews


- Scientific journals


- Trade magazines


- Market research reports


- Investment research reports


- Investment reports


- Market reports


- Government documents


MRFR's research methodology was able to reduce the gap between demand and supply. In addition, it helped identify key players and the strategies they followed to establish themselves in the global vehicle electrification market. The research methodology also enabled MRFR to gauge emerging strategies and market developments that pointed towards changes in second and third-tier market dynamics.


MRFR's research is based on four data points; market share, market size, industry development, and forecast. The information gathered was segmented and covered market focus, secondary sources, historical data, primary sources, and industry-specific research.


Data synthesis began before the final stages of the project. MRFR used a 'Multiple-Stage Filtering Process' to optimize the accuracy of the research report.


During the final stages of the research project, the data was used to run back-testing. It was meant to identify the consistency between the primary data, the results of the analysis, and the data collected through segmentation. The back-testing enabled MRFR to validate and provide a certain level of reliability to the results that were then published in the report.


Calibration the final step in the research process was done to ensure that actuals values were parallel to the results of the analysis. This was done jointly with the client's experts to ensure that the correct conclusions were drawn.


The research report gives marketers further insight into the market, which can enable them to identify untapped opportunities. The value of the global vehicle electrification market was determined by obtaining the values of each segment. The bottom-up process was implemented to get the global value and then to arrive at the regional and segmental values of the vehicle electrification market.


MRFR's research methodology is at the core of its service. They believe in providing robust and consistent forecasts for global, regional, and local markets. Also, their research methodology adopts best international practices and collects only top-quality industry data and facts. This is why deciding on a reliable research partner is one of the main reasons why clients must decide on MRFR for all their research-based needs.

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Table of Contents

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Threat of substitutes

3.1.4 Segment rivalry

3.1.5 Bargaining Power of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Vehicle Electrification Market, By Product

5.1 Introduction

5.2 Start/Stop System

5.2.1 Market Estimates & Forecast, 2023-2032

5.2.2 Market Estimates & Forecast by Region, 2023-2032

5.3 EPS

5.3.1 Market Estimates & Forecast, 2023-2032

5.3.2 Market Estimates & Forecast by Region, 2023-2032

5.4 Actuators

5.4.1 Market Estimates & Forecast, 2023-2032

5.4.2 Market Estimates & Forecast by Region, 2023-2032

5.5 Starter Motor & Alternator

5.5.1 Market Estimates & Forecast, 2023-2032

5.5.2 Market Estimates & Forecast by Region, 2023-2032

5.6 Electric Vacuum Pump

5.6.1 Market Estimates & Forecast, 2023-2032

5.6.2 Market Estimates & Forecast by Region, 2023-2032

5.7 Integrated Starter Generator

5.7.1 Market Estimates & Forecast, 2023-2032

5.7.2 Market Estimates & Forecast by Region, 2023-2032

5.8 Others

5.8.1 Market Estimates & Forecast, 2023-2032

5.8.2 Market Estimates & Forecast by Region, 2023-2032

6 Global Vehicle Electrification Market, By Voltage

6.1 Introduction

6.2 12V

6.2.1 Market Estimates & Forecast, 2023-2032

6.2.2 Market Estimates & Forecast by Region, 2023-2032

6.3 14V

6.3.1 Market Estimates & Forecast, 2023-2032

6.3.2 Market Estimates & Forecast by Region, 2023-2032

6.4 24V

6.4.1 Market Estimates & Forecast, 2023-2032

6.4.2 Market Estimates & Forecast by Region, 2023-2032

6.5 48V

6.5.1 Market Estimates & Forecast, 2023-2032

6.5.2 Market Estimates & Forecast by Region, 2023-2032

7 Global Vehicle Electrification Market, By Sales Channel

7.1 Introduction

7.2 OEM

7.2.1 Market Estimates & Forecast, 2023-2032

7.2.2 Market Estimates & Forecast by Region, 2023-2032

7.3 Aftermarket

7.3.1 Market Estimates & Forecast, 2023-2032

7.3.2 Market Estimates & Forecast by Region, 2023-2032

8 Global Vehicle Electrification Market, By Vehicle Type

8.1 Introduction

8.2 ICE & micro-hybrid

8.2.1 Market Estimates & Forecast, 2023-2032

8.2.2 Market Estimates & Forecast by Region, 2023-2032

8.3 HEV

8.3.1 Market Estimates & Forecast, 2023-2032

8.3.2 Market Estimates & Forecast by Region, 2023-2032

8.4 PHEV

8.4.1 Market Estimates & Forecast, 2023-2032

8.4.2 Market Estimates & Forecast by Region, 2023-2032

8.5 BEV

8.5.1 Market Estimates & Forecast, 2023-2032

8.5.2 Market Estimates & Forecast by Region, 2023-2032

9 Global Vehicle Electrification Market, By Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2023-2032

9.2.2 Market Estimates & Forecast by Product, 2023-2032

9.2.3 Market Estimates & Forecast by Voltage, 2023-2032

9.2.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.2.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.2.6 U.S.

9.2.6.1 Market Estimates & Forecast, 2023-2032

9.2.6.2 Market Estimates & Forecast by Product, 2023-2032

9.2.6.3 Market Estimates & Forecast by Voltage, 2023-2032

9.2.6.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.2.6.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.2.7 Canada

9.2.7.1 Market Estimates & Forecast, 2023-2032

9.2.7.2 Market Estimates & Forecast by Product, 2023-2032

9.2.7.3 Market Estimates & Forecast by Voltage, 2023-2032

9.2.7.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.2.7.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.3 Europe

9.3.1 Market Estimates & Forecast, 2023-2032

9.3.2 Market Estimates & Forecast by Product, 2023-2032

9.3.3 Market Estimates & Forecast by Voltage, 2023-2032

9.3.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.3.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.3.6 U.K.

9.3.6.1 Market Estimates & Forecast, 2023-2032

9.3.6.2 Market Estimates & Forecast by Product, 2023-2032

9.3.6.3 Market Estimates & Forecast by Voltage, 2023-2032

9.2.6.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.2.6.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.3.7 Germany

9.3.7.1 Market Estimates & Forecast, 2023-2032

9.3.7.2 Market Estimates & Forecast by Product, 2023-2032

9.3.7.3 Market Estimates & Forecast by Voltage, 2023-2032

9.3.7.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.3.7.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.3.8 France

9.3.8.1 Market Estimates & Forecast, 2023-2032

9.3.8.2 Market Estimates & Forecast by Product, 2023-2032

9.3.8.3 Market Estimates & Forecast by Voltage, 2023-2032

9.3.8.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.3.8.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.3.9 Italy

9.3.9.1 Market Estimates & Forecast, 2023-2032

9.3.9.2 Market Estimates & Forecast by Product, 2023-2032

9.3.9.3 Market Estimates & Forecast by Voltage, 2023-2032

9.3.9.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.3.9.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.3.10 Rest of Europe

9.3.10.1 Market Estimates & Forecast, 2023-2032

9.3.10.2 Market Estimates & Forecast by Product, 2023-2032

9.3.10.3 Market Estimates & Forecast by Voltage, 2023-2032

9.3.10.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.3.10.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, 2023-2032

9.4.2 Market Estimates & Forecast by Product, 2023-2032

9.4.3 Market Estimates & Forecast by Voltage, 2023-2032

9.4.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.4.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.4.6 China

9.4.6.1 Market Estimates & Forecast, 2023-2032

9.4.6.2 Market Estimates & Forecast by Product, 2023-2032

9.4.6.3 Market Estimates & Forecast by Voltage, 2023-2032

9.4.6.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.4.6.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.4.7 Japan

9.4.7.1 Market Estimates & Forecast, 2023-2032

9.4.7.2 Market Estimates & Forecast by Product, 2023-2032

9.4.7.3 Market Estimates & Forecast by Voltage, 2023-2032

9.4.7.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.4.7.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.4.8 India

9.4.8.1 Market Estimates & Forecast, 2023-2032

9.4.8.2 Market Estimates & Forecast by Product, 2023-2032

9.4.8.3 Market Estimates & Forecast by Voltage, 2023-2032

9.4.8.4 Market Estimates & Forecast by Sales Channel 2023-2032

9.4.8.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.4.9 Rest of Asia Pacific

9.4.9.1 Market Estimates & Forecast, 2023-2032

9.4.9.2 Market Estimates & Forecast by Product, 2023-2032

9.4.9.3 Market Estimates & Forecast by Voltage, 2023-2032

9.4.9.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.4.9.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

9.5 Rest of the World

9.5.1 Market Estimates & Forecast, 2023-2032

9.5.2 Market Estimates & Forecast by Product, 2023-2032

9.5.3 Market Estimates & Forecast by Voltage, 2023-2032

9.5.4 Market Estimates & Forecast by Sales Channel, 2023-2032

9.5.5 Market Estimates & Forecast by Vehicle Type, 2023-2032

10 Competitive Landscape

11 Company Profile

11.1 Robert Bosch GmbH (Germany)

11.1.1 Company Overview

11.1.2 Products/Services Offering

11.1.3 Financial Overview

11.1.4 Key Developments

11.1.5 Strategy

11.1.6 SWOT Analysis

11.2 Continental AG (Germany)

11.2.1 Company Overview

11.2.2 Products/Services Offering

11.2.3 Financial Overview

11.2.4 Key Developments

11.2.5 Strategy

11.2.6 SWOT Analysis

11.3 ZF Friedrichshafen AG (Germany)

11.3.1 Company Overview

11.3.2 Products/Services Offering

11.3.3 Financial Overview

11.3.4 Key Developments

11.3.5 Strategy

11.3.6 SWOT Analysis

11.4 Denso Corporation (Japan)

11.4.1 Company Overview

11.4.2 Products/Services Offering

11.4.3 Financial Overview

11.4.4 Key Developments

11.4.5 Strategy

11.4.6 SWOT Analysis

11.5 JTEKT Corporation (Japan)

11.5.1 Company Overview

11.5.2 Products/Services Offering

11.5.3 Financial Overview

11.5.4 Key Developments

11.5.5 Strategy

11.5.6 SWOT Analysis

11.6 Nexteer Automotive (U.S.)

11.6.1 Company Overview

11.6.2 Products/Services Offering

11.6.3 Financial Overview

11.6.4 Key Developments

11.6.5 Strategy

11.6.6 SWOT Analysis

11.7 Mitsubishi Electric Corporation (Japan)

11.7.1 Company Overview

11.7.2 Products/Services Offering

11.7.3 Financial Overview

11.7.4 Key Developments

11.7.5 Strategy

11.7.6 SWOT Analysis

11.8 Mando Corp. (South Korea)

11.8.1 Company Overview

11.8.2 Products/Services Offering

11.8.3 Financial Overview

11.8.4 Key Developments

11.8.5 Strategy

11.8.6 SWOT Analysis

11.9 Borgwarner Inc. (U.S.)

11.9.1 Company Overview

11.9.2 Products/Services Offering

11.9.3 Financial Overview

11.9.4 Key Developments

11.9.5 Strategy

11.9.6 SWOT Analysis

11.10 Delphi Automotive PLC (U.K.)

11.10.1 Company Overview

11.10.2 Products/Services Offering

11.10.3 Financial Overview

11.10.4 Key Developments

11.10.5 Strategy

11.10.6 SWOT Analysis

11.11 Johnson Electric (Hong Kong)

11.11.1 Company Overview

11.11.2 Products/Services Offering

11.11.3 Financial Overview

11.11.4 Key Developments

11.11.5 Strategy

11.11.6 SWOT Analysis

11.12 Hitachi Automotive Systems, Ltd. (Japan)

11.12.1 Company Overview

11.12.2 Products/Services Offering

11.12.3 Financial Overview

11.12.4 Key Developments

11.12.5 Strategy

11.12.6 SWOT Analysis

List of Tables

Table 1 Global Vehicle Electrification Market: By Region, 2023-2032

Table 2 North America Vehicle Electrification Market: By Country, 2023-2032

Table 3 Europe Vehicle Electrification Market: By Country, 2023-2032

Table 4 Asia Pacific Vehicle Electrification Market: By Country, 2023-2032

Table 5 RoW Vehicle Electrification Market: By Country, 2023-2032

Table 6 Global Vehicle Electrification Market, By Product, By Regions, 2023-2032

Table 7 North America Vehicle Electrification Market, By Product, By Country, 2023-2032

Table 8 Europe Vehicle Electrification Market, By Product, By Country, 2023-2032

Table 9 Asia Pacific Vehicle Electrification Market by Product, By Country, 2023-2032

Table 10 RoW Vehicle Electrification Market by Product, By Country, 2023-2032

Table 11 Global Vehicle Electrification by Voltage Market: By Regions, 2023-2032

Table 12 North America Vehicle Electrification Market by Voltage: By Country, 2023-2032

Table 13 Europe Vehicle Electrification Market by Voltage: By Country, 2023-2032

Table 14 Asia Pacific Vehicle Electrification Market by Voltage: By Country, 2023-2032

Table 15 RoW Vehicle Electrification Market by Voltage: By Country, 2023-2032

Table 16 Global Vehicle Electrification by Sales Channel Market: By Regions, 2023-2032

Table 17 North America Vehicle Electrification Market by Sales Channel: By Country, 2023-2032

Table 18 Europe Vehicle Electrification Market by Sales Channel: By Country, 2023-2032

Table 19 Asia Pacific Vehicle Electrification Market by Sales Channel: By Country, 2023-2032

Table 20 RoW Vehicle Electrification Market by Sales Channel: By Country, 2023-2032

Table 21 Global Vehicle Electrification by Vehicle Type Market: By Regions, 2023-2032

Table 22 North America Vehicle Electrification Market by Vehicle Type: By Country, 2023-2032

Table 23 Europe Vehicle Electrification Market by Vehicle Type: By Country, 2023-2032

Table 24 Asia Pacific Vehicle Electrification Market by Vehicle Type: By Country, 2023-2032

Table 25 RoW Vehicle Electrification Market by Vehicle Type: By Country, 2023-2032

Table 26 Global Vehicle Electrification Market: By Region, 2023-2032

Table 27 Global Vehicle Electrification Market: By Product, 2023-2032

Table 18 Global Vehicle Electrification Market: By Voltage, 2023-2032

Table 27 Global Vehicle Electrification Market: By Sales Channel, 2023-2032

Table 18 Global Vehicle Electrification Market: By Vehicle Type, 2023-2032

Table 19 North America Vehicle Electrification Market, By Country

Table 20 North America Vehicle Electrification Market, By Product

Table 21 North America Vehicle Electrification Market, By Voltage

Table 20 North America Vehicle Electrification Market, By Sales Channel

Table 21 North America Vehicle Electrification Market, By Vehicle Type

Table 22 Europe: Vehicle Electrification Market, By Country

Table 23 Europe: Vehicle Electrification Market, By Product

Table 24 Europe: Vehicle Electrification Market, By Voltage

Table 25 Europe: Vehicle Electrification Market, By Sales Channel

Table 26 Europe: Vehicle Electrification Market, By Vehicle Type

Table 27 Asia Pacific: Vehicle Electrification Market, By Country

Table 28 Asia Pacific: Vehicle Electrification Market, By Product

Table 29 Asia Pacific: Vehicle Electrification Market, By Voltage

Table 30 Asia Pacific: Vehicle Electrification Market, By Sales Channel

Table 31 Asia Pacific: Vehicle Electrification Market, By Vehicle Type

Table 32 RoW: Vehicle Electrification Market, By Region

Table 33 RoW Vehicle Electrification Market, By Product

Table 34 RoW Vehicle Electrification Market, By Voltage

Table 35 RoW Vehicle Electrification Market, By Sales Channel

Table 36 RoW Vehicle Electrification Market, By Vehicle Type

List of Figures

FIGURE 1 Research Process of MRFR

FIGURE 2 Top down & Bottom up Approach

FIGURE 3 Market Dynamics

FIGURE 4 impact analysis: market drivers

FIGURE 5 impact analysis: market restraints

FIGURE 6 porter’s five forces analysis

FIGURE 7 Value chain analysis

FIGURE 8 Global Vehicle Electrification Market SHARE, By Product, 2023 (%)

FIGURE 9 Global Vehicle Electrification Market, By Product, 2023-2032 (USD MILLION)

FIGURE 10 Global Vehicle Electrification Market SHARE, By Voltage, 2023 (%)

FIGURE 11 Global Vehicle Electrification Market, By Voltage, 2023-2032 (USD MILLION)

FIGURE 12 Global Vehicle Electrification Market SHARE, By Sales Channel, 2023 (%)

FIGURE 13 Global Vehicle Electrification Market, By Sales Channel, 2023-2032 (USD MILLION)

FIGURE 14 Global Vehicle Electrification Market SHARE, By Vehicle Type, 2023 (%)

FIGURE 15 Global Vehicle Electrification Market, By Vehicle Type, 2023-2032 (USD MILLION

FIGURE 16 Global Vehicle Electrification Market SHARE (%), BY REGION, 2023

FIGURE 17 Global Vehicle Electrification Market, BY REGION, 2023-2032 (USD MILLION)

FIGURE 18 North America Vehicle Electrification Market SHARE (%), 2023

FIGURE 19 North America Vehicle Electrification Market BY Country, 2023-2032 (USD MILLION)

FIGURE 20 Europe Vehicle Electrification Market SHARE (%), 2023

FIGURE 21 Europe Vehicle Electrification Market BY Country, 2023-2032 (USD MILLION)

FIGURE 22 Asia Pacific Vehicle Electrification Market SHARE (%), 2023

FIGURE 23 Asia Pacific Vehicle Electrification Market BY Country, 2023-2032 (USD MILLION)

FIGURE 24 Rest of the World Vehicle Electrification Market SHARE (%), 2023

FIGURE 25 Rest of the World Vehicle Electrification Market BY Country, 2023-2032 (USD MILLION)

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