© 2016 Global Market Insights, Inc. USA. All Rights Reserved Fuel Cell Market size worth $25.5bn by 2024 Vehicle Electrification Market Industry Trends, Statistics, Analysis by 2024: Global Market Insights Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  The next generation technological advancements indicate that automotive electrification can open new pathways for consumer engagement along with various financial and environmental benefits such as reduced dependence on conventional fuels and high energy efficiency.  The easy availability of electric power sources and modulating convenience of these energy sources according to the requirements will catapult vehicle electrification market size over the forecast period.  The high cost of ownership of these vehicles and the need for the development of batteries with high-storage capacity will challenge industry growth. Key Insights from Vehicle Electrification Market:

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Global vehicle electrification market share can be segmented on the basis of products into Electric Power Steering (EPS), start-stop system, Electric Vacuum Pump (EVP), electric water pump, electric air-conditioner compressor, and electric oil pump. Intense competition among manufacturers to develop electric and self-driven automobiles is anticipated to fuel the global EPS market.  HEVs are expected to dominate the industry share owing to their featured switching between two or more distinct types of power, such as internal combustion engine combined with the electric motor.  Manufacturers operating in the global vehicle electrification market include Continental AG, Denso Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH., Nexteer, JTEKT Corporation, and TRW Automotive Holdings. Continued...

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© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Product Analysis The development of stringent regulations to reduce carbon emissions and economy standards from conventional automotive will present potential growth opportunities for the vehicle electrification market share from 2016 to  Regional Analysis Europe vehicle electrification market share is expected to experience a high growth rate owing to the presence of major industry participants across the region. Germany accounts for the largest vehicle sales in the region.  Competitive Market Share The industry is highly characterized by mergers & collaborations for the development of advanced portfolios to gain a competitive edge. For instance, in May 2016, PSA Group and China's Dongfeng Motor entered into an agreement to create a common platform to develop electric cars from ° Analysis

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