The global vehicle electrification market is anticipated to grow at a significant CAGR of 12.2% during the forecast period (2023-2030).The market growth is attributed to the growing demand for electric vehicles. Continued investments in charging infrastructure, technology development, awareness campaigns, and supportive policies are accelerating the adoption of electric vehicles globally. Innovative technologies and solutions in e-propulsion, connectivity, electromagnetic compatibility (EMC), and data analytics enable OEMs and suppliers to accelerate product development, enhance advanced safety and user experience, optimize vehicle fuel economy and vehicle architectures, reduce time to market and optimize costs, and improve sustainability.
Browse the full report description of “Vehicle Electrification Market Size, Share & Trends Analysis Report by Product (Electric Power Steering, Electric Air Conditioner Compressor, Electric Vacuum Pump, Electric Oil Pump, Electric Water Pump, Integrated Starter Generator, Actuators and Others (Liquid Heater PTC, Starter Motor), by Hybridization (Internal Combustion Engine (ICE) & Micro-hybrid Vehicle, Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV), and by Vehicle Type (Passenger vehicle and Commercial vehicle), Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/vehicle-electrification-market
High-efficiency motor and integrated inverter system, with silicon carbide technology and MOSFET power modules, provide peak performance and simplified installation in the vehicle by eliminating high-voltage phase cables. For instance, in May 2023, Dana Inc. launched electrification solutions for clean commercial vehicle transportation, an expansion of its Spicer Electrified™ e-Powertrain offerings to include a family of e-Transmissions for a wide variety of medium-duty electric-vehicle applications.
Electrification into the future with high-speed and high-resolution control for increased power efficiency to extend the driving range and provide a smoother EV driving experience. For instance, in November 2022, NXP launched High-Performance S32K39 Series MCUs for Modern Electrification Applications. Addresses new electric vehicle (EV) traction inverter control needs with a compelling combination of performance, integration, networking, security and functional safety.
Various market player strengthens their broader automotive portfolio, offering customers highly reliable, high-performance solutions for systems ranging from actuators to zone control. For instance, in December 2021, Renesas Electronics Corp. launched two new microcontrollers (MCUs) designed for automotive actuator and sensor control applications supporting edge evolution in next-generation electronic and electrical (E/E) architecture.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Product
o By Hybridization
o By Vehicle Type
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Aptiv plc, Eaton Corp, HORIBA Group, NSK Ltd., Siemens AG, and others.
Key questions addressed by the report
Global Vehicle Electrification Market Report Segment
By Product
By Hybridization
By Vehicle Type
Global Vehicle Electrification Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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