October 24, 2020

Vehicle Electrification Market – Global Forecast to 2025 with Pre & Post Pandemic Scenarios

The “Vehicle Electrification Market by Product (Start-Stop, PTC, EPS, Electric Air Conditioner, ISG, Starter Motor, Alternator, Actuator, Electric Pump-Vacuum, Oil & Water), 48V, ICE, BEV, HEV, PHEV, Vehicle Type, and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

The Vehicle Electrification Market is Projected to Grow at a CAGR of 11.9% to Reach USD 129.6 Billion by 2025 from USD 73.7 Billion

The vehicle electrification market is projected to reach 665 million units by 2025 from 470 million units in 2020, at a CAGR of 7.2% during the forecast period.

The automotive industry plays a crucial role in driving the global economy. However, the COVID-19 pandemic has disrupted the global automotive supply chain. The four major challenges faced by the industry due to COVID-19 are a limited supply of vehicle parts, a drop in new vehicle sales, the shutdown of production facilities, and a decline

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Automotive Engineering Service Providers Market | Increasing Vehicle Digitization and Electrification to Boost the Market Growth


The global automotive engineering service providers market size is poised to grow by USD 5.31 billion during 2020-2024, progressing at a CAGR of over 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201009005403/en/

Technavio has announced its latest market research report titled Global Automotive Engineering Service Providers (ESP) Market 2020-2024 (Graphic: Business Wire).

Disruptive technology-driven trends in the automotive industry have been propelling automotive OEMs to incorporate advanced driver-assistance systems (ADAS) primarily for product differentiation and gain competitive advantage. The significant demand from the

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Hyundai shares electrification plans at 16th Beijing International Automotive Exhibition

Last Friday, September 25, Hyundai Motor Company shared its game-changing electrification plans driving its transformation into a Smart Mobility Solution Provider at the 16th Beijing International Automotive Exhibition.

At the show, the Korean car manufacturer premiered its RM20e electric racing midship sports car prototype, as well as the Elantra N TCR and Prophecy concept EV model, demonstrating just how far its EV ambitions will go. The all-new Tucson and the all-new Elantra also made their Chinese market debut at the event. 


Hyundai’s RM20e is the first high-performance electric sports car developed by the brand, utilizing its industry-leading electric powertrain. Project RM (Racing Midship) started in 2012 as Hyundai embarked on a journey to develop and connect new high-performance motorsports technologies for upcoming N models. Since the project started, all RM models have undergone comprehensive and extensive road testing in order to validate newly developed technologies, evaluate

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US Army gives green light to shape vehicle electrification requirements

WASHINGTON — U.S. Army Futures Command has given the green light to the Maneuver Capabilities Development and Integration Directorate to develop a plan to equip tactical and combat vehicles with electric power, according to a Sept. 21 statement.

The directorate will begin drafting a requirements document for Tactical and Combat Vehicle Electrification, and will host an industry day Oct. 20 to share its electrification initiatives with industry.

CALSTART, an organization that focuses on clean technology transportation, and the Ground Vehicles Systems Center will co-host the event.

The electrification effort aims to decrease the Army’s reliance on fossil fuels. “The requirement also aims to increase operational reach across all maneuver formations through electric propulsion, which offers a variety of operational and tactical benefits,” a statement from the directorate read.

“These include the potential to double operational duration, implement silent mobility, increase silent watch, and potentially reduce the Army’s logistical burden by

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