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