The MarketsandMarkets report, "Vehicle Electrification Market by Product, 48V Mild-Hybrid, Degree of Hybridization, and Vehicle Type - Global Forecast to 2022", predicts 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.
- Electric vacuum pump is estimated to be the fastest growing segment in Vehicle Electrification Market
- The market for ICE and micro-hybrid vehicles is estimated to witness the largest share in the Vehicle Electrification Market
- Asia-Oceania region is estimated to be the leading market for vehicle electrification
- Also, countries like China and India have plans to upgrade their emission regulations by 2020.
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).
Browse 108 market data tables and 62 figures spread through 237 pages and in-depth TOC on "Vehicle Electrification Market - Global Forecast to 2022" at http://www.marketsandmarkets.com/Market-Reports/vehicle-electrification-market-224946587.html