Vehicle Electrification Market Increase inneed for cost-effective solutions by 2030

PORTLAND, ORAGON, UNITED STATES, September 13, 2022 / -- According to the report published by Allied Market Research, the global vehicle electrification market was pegged at $70.14 billion in 2019 and is anticipated to hit $140.29 billion by 2027, registering a CAGR of 11.3% from 2020 to 2027. The report provides an all-inclusive analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.

Download Report (210 Pages PDF with Insights, Charts, Tables, Figures) at

The key market players analyzed in the global vehicle electrification market report include CONTINENTAL AG, Delphi Technologies, Hitachi Automotive Systems, Ltd., Johnson Electric Holdings Limited, Robert Bosch GmbH, ZF FRIEDRICHSHAFEN AG, AISIN SEIKI Co., Ltd., BorgWarner Inc., Magna International Inc., and Denso Corporation. These market players have taken recourse to numerous strategies including partnership, expansion, collaboration, joint ventures, and others to elevate their status in the industry.

Interested to Procure The Data? Inquire here at

By geography, Asia-Pacific generated nearly two-fifths of the market and is projected to rule the roost by 2027. The same region is also expected to portray the fastest CAGR of 12.9% by the end of 2027. The other provinces studied in the market report include North America, Europe, and LAMEA.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business at

By vehicle type, the internal combustion engine vehicle segment held the major share in 2019, accounting for more than 90% of the total market revenue. Simultaneously, the plug-in hybrid electric vehicle (PHEV) & battery electric vehicle (BEV) segment would manifest the fastest CAGR of 16.6% from 2020 to 2027.

Request for Customization of this report at

The global vehicle electrification market is analyzed across product type, sales channel, vehicle type, and region. By product type, the electric power steering segment contributed to more than one-fourth of the total market share in 2019 and is anticipated to retain its dominance by 2027. The electric car motors segment, on the other hand, would grow at the fastest CAGR of 16.3% throughout the forecast period.

Browse Complete Report at

Similar Reports We Have on Electric Vehicle Industry:

Aircraft Electrification Market by Application (Power Generation, Power Distribution, Power Conversion and Energy Storage), Technology (More Electric, Hybrid Electric and Fully Electric), Component (Batteries, Fuel Cells, Solar Cells, Electric Actuators, Electric Pumps and Others), Platform (Commercial Aviation, Military Aviation, and Business & General Aviation), and System (Propulsion Systems and Aircraft Systems): Global Opportunity Analysis and Industry Forecast, 2020–2030.

Electric Vehicle Market by Type (Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), and Plug-in Hybrid Electric Vehicles (PHEV)), Vehicle Class (Mid-Priced and Luxury), and Vehicle Type (Two-wheelers, Passenger Cars, and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2020–2030.

About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of ""Market Research Reports"" and ""Business Intelligence Solutions."" AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

David Correa
Allied Analytics LLP
email us here
Visit us on social media: