"Market Intelligence for High-Geared Performance"

Vehicle Electrification Market Size, Share and Industry Analysis; By Product Type (Start/Stop System, Electric Air Conditioner Compressor, PTC Heater, Electric Vacuum Pump, Electric Water Pump, Electric Oil Pump, Starter Motor & Alternator, Integrated Starter Generator, Actuators). By Vehicle Type (Passenger Cars, Light Commercial Vehicles & Heavy Commercial Vehicles), and Regional Forecast, 2019-2026

Region : Global | Format: PDF | Report ID: FBI102070



Play Audio Listen to Audio Version

The global vehicle electrification market size valued at USD 27.9 billion in 2018 and is projected to reach USD 53.3 billion by 2026, exhibiting a CAGR of 8.5% during the forecast period.

COVID-19 Cover

We are in process of revamping Vehicle Electrification Market with respect to COVID-19 Impact.

Request Sample

Vehicle electrification is the method of electrifying all components of the vehicle which are required for its propulsion; this is done by replacing conventional systems by electrical systems. For example, conventional starter motors and alternators are replaced with an integrated starter generator system (ISG). Vehicle electrification increases the efficiency of the vehicle and reduces dependency on conventional fuels and lowers carbon emissions; this, in turn, provides various environmental and economic benefits. Additionally, vehicle electrification offers less operational cost and requires less maintenance as it eliminates the use of coolants in the vehicles.


Increasing Utility Programs to Support the Adoption of Electric Vehicles has led to Witnessed Significant Market Trend

As per Rocky Mountain Institute by 2022, 2.9 million electrified vehicles would be on the road, which would add over 11000 gig watts-hour of electricity demand. Governments and OEMs across the globe are trying to meet the rising demand for electric power for vehicles by building a new charging infrastructure. The US and Europe have installed a smart-grid charging system, which allows managing charging loads of EVs remotely.

Request a Free sample to learn more about this report.

The Increasing Use of Advanced Technologies Such as Engine Shut Down System is Likely to Drive the Market

The Increasing use of engine shut down system is one of the major market trends in the vehicle electrification market. During heavy traffic or at the signals, if the vehicle comes at the halt, the integrated starter generator system automatically shuts off the engine. For example, if the vehicle is running slower than the specified threshold, the driveline is opened, and the power supply system supports the electrical load when the vehicle is at a halt, the engine starts again when the accelerator is depressed. The electric motor offers additional power to the IC engine; the fuel consumption is reduced without affecting the power output.


Stringent Government Emission Regulations is expected to drive the growth of this market

The vehicle emission has caused a significant impact on the environment and human life; therefore, several governments’ bodies across the globe have imposed stringent emission norms for vehicles. This, in turn, has forced automotive manufacturers to produce cars that cause fewer emissions and stick to the regulations imposed by the government. Governments in developing countries are implementing new strategies such as tax exemptions; to attract consumers to purchase hybrid and electric vehicles.

The Increasing Demand for Hybrid Vehicles is expected to drive the market over the Forecast Period

Increasing demand for hybrid vehicles is expected to drive the market over the forecast period. Key manufacturers have heavily invested in R&D to produce hybrid vehicles that do not cause emission, have higher efficiency than conventional vehicles, and also meet the industry standards. Increasing awareness among the consumers regarding vehicular emissions is anticipated to fuel the demand for hybrid and electrified vehicles during the forecast period. All these factors are likely to drive the growth of the vehicle electrification market over the forecast period.


The Cost of Vehicle Electrifications is Anticipate to Restraint the Growth of the Market

The maintenance and replacement cost of vehicle electrifications is expensive; this factor is anticipated to restrain the growth of the vehicle electrification market over the forecast period. Key OEMs are focusing on developing cost-effective components that are sturdy and have a high life.

An Infographic Representation of Vehicle Electrification Market

To get information on various segments, share your queries with us


By Product Analysis

To know how our report can help streamline your business, Speak to Analyst

Integrated Starter Generator (ISG) is estimated to dominate the market over the Forecast Period

By product type, the vehicle electrification market is segmented into the start/stop system, PTC Heater, starter motor and alternator, integrated starter generator, actuators, electric oil pump, electric vacuum pump, electric water pump, and electric air conditioner compressor. The integrated starter generator segment is anticipated to dominate the market over the forecast period. Increasing greenhouse gas emissions has from conventional vehicles have fuelled the demand for advanced vehicles integrated with the ISG system, which helps to curb the emissions from the vehicle. The integrated starter generator replaces the starter motor and alternator in the conventional vehicles by automatically controlling its start/stop system and, in turn, offers better fuel efficiency. The integrated starter generator acts as a two-directional power converter by changing mechanical energy into electrical energy and vice versa. It also provides noiseless and vibration-less operation of the engine.

By Vehicle Type Analysis

Passenger Car Segment is Likely to Experience Significant Growth during the Forecast Period

Based on the vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car segment is anticipated to dominate the market over the forecast period. Rising sales of passenger cars are likely to drive the market over the forecast period. The light commercial vehicle segment is estimated to show good growth in the market. Increasing government initiatives to reduce emission levels caused by commercial vehicles is one of the significant reasons fuelling the growth of the LCV over the forecast period.


Asia Pacific Vehicle Electrification Market Size, 2018

To get more information on the regional analysis of this market, Request a Free sample

By region, further, the market has been segmented into Europe, North America, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to dominate the market over the forecast period. The government initiatives in countries such as China, India, and South Korea for the usage of the electrified vehicles and offering consumers tax exemption for the purchase of these vehicles is expected to drive the growth of the market in this region.

Europe is the second-largest market holder of the vehicle electrification market and is also estimated to show decent growth in the market over the forecast period. The Early adoption of advanced technologies and hybrid vehicles in this region is one of the major factors which is maintaining the second-largest position of Europe in this market.

North America is expected to show steady growth in the vehicle electrification market over the forecast period.


Robert Bosch GmbH is the dominant player in the vehicle electrification market.

Robert Bosch GmbH is expected to be the dominant player in the vehicle electrification market. Bosch has adopted various strategies for expansion, partnerships, and acquisition and new product development to maintain its leading position in the electrification market. Robert Bosch has a presence in emerging markets such as Brazil, India, and China. The presence of both emerging markets and building strategic customer relationships have strengthened its global position in the market.



  • December 2019: Bosch and Contemporary Amperex  Technology  (CATL) have signed a long-term strategic cooperation agreement to manufacture a 48-volt battery cell. CATL is expected to develop the design and manufacture a 48-volt battery cell according to the Bosch requirement. This technology is expected to reduce fuel consumption by 15%.

  • September 2019: Delphi technologies came into an agreement with Cree, Inc to utilize Cree’s silicon carbide semiconductor device technology to manufacture advanced components for automobiles. Cree’s silicon carbide semiconductor MOSFET and Delphi’s technology is expected to deliver faster, lighter, smaller, and powerful electronic components for HEVs and EVs.


An Infographic Representation of Vehicle Electrification Market

To get information on various segments, share your queries with us

The vehicle electrification market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation



Study Period


Base Year


Forecast Period


Historical Period



  Value (USD billion) & Volume (Million Units)


By Product Type

  • Start/Stop System

  • PTC Heater

  • Electric Air Conditioner Compressor

  • Electric Vacuum Pump

  • Electric Oil Pump

  • Electric Water Pump

  • Starter motor & alternator

  • Integrated Starter Generator (ISG)

  • Actuators

By Vehicle Type

  • Passenger Car

  • Light Commercial Vehicles

  • Heavy Commercial Vehicles

By Geography

  • North America (U.S., Canada, Mexico)

  • Europe (U.K., Germany, France, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia- Pacific)

  • Rest of the World

Frequently Asked Questions

Fortune Business Insights says that the global market was worth USD 27.9 billion in 2018.

This market is projected to be worth USD 53.3 billion in 2026, globally.

The global Vehicle Electrification market will grow at a CAGR of 8.5% in the forecast period (2019-2026).

The market in Asia Pacific stood at USD 12.3 billion in 2018.

In terms of product type, the integrated starter generator segment will dominate the global market during the forecast period.

Stringent government emission regulations are the key market drivers. However, the high initial cost of vehicle electrification may hinder growth.

Delphi, Bosch & Denso are among the top companies in this market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
Vehicle Electrification Market  Size, Share and Global Industry Trend Forecast till 2026
  • Mar, 2020
  • 2018
  • 2015-2017
  • 200


  • 4850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Automotive & Transportation Clients


Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.