Global Vehicle Electrification Market Report 2020-2027: Rise in Adoption of Fuel-efficient Mobility Solutions Along with Effective Performance
The global vehicle electrification market was valued at $70.14 billion in 2019, and is projected to reach $140.29 billion by 2027, registering a CAGR of 11.3%.
- The global vehicle electrification market was valued at $70.14 billion in 2019, and is projected to reach $140.29 billion by 2027, registering a CAGR of 11.3%.
- The growth of the global vehicle electrification market is driven by rise in adoption of fuel-efficient mobility solutions along with effective performance requirements and fall in price of batteries per KWH.
- The report segments the global vehicle electrification market based on product type, sales channel, vehicle type, and region.
- Depending on vehicle type, it is differentiated into internal combustion engine vehicle, micro & full hybrid vehicle, and plug-in hybrid electric vehicle (PHEV) & battery electric vehicle (BEV).