The global demand for Transportation Electrification Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Transportation electrification is the process of using electric energy to power various modes of transportation. Electric vehicles, electrified ships and boats, electric aeroplanes, and electrified train transportation are all part of it. The transportation industry is only modestly adopting electrification to minimize the reliance on fossil and non-conventional fuels. It usually refers to electricity usage from external sources, such as the electrical grid, for all or most of the vehicle's components. Electrified transportation aims to use more electrical energy to power the vehicle's traction and non-traction loads. It's thought to be a possible quadruple win for electric utilities and society since it allows businesses to promote environmental goals while increasing customer satisfaction, lowering operating costs, and ensuring the future value of current assets.
Market Dynamics
The worldwide transportation electrification market is primarily driven by increasing pollution. The rise in global pollution has prompted governments, citizens, and automakers to advocate for transportation electrification, emitting much fewer pollutants. To comply with the agreement, regulatory bodies in several countries have imposed strict regulations on gasoline-powered vehicles, provided subsidies for electrified mobility and infrastructure, and promoted electric mobility manufacturers, all of which are propelling the global transportation electrification market. The demand for electrified transportation is being fueled worldwide by falling electric mobility prices, bans issued by regulatory authorities in some countries on diesel-powered vehicles, and a shift in consumer concern toward electrified mobility. The primary constraints are the cost and lack of infrastructure in the global transportation electrification market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of transportation electrification. The growth and trends of transportation electrification industry provide a holistic approach to this study.
Market Segmentation
This section of the transportation electrification market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Complete Electrification
- Partial Electrification
By Application
- Railway
- Electric Car
- Other
By Transportation Mode
- Railway Transportation
- Vehicle Transportation
- Ships & Boats Transportation
- Aeroplanes Transportation
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Transportation Electrification market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Transportation Electrification Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the transportation electrification market include Thales Group, Bombardier, Siemens AG, Continental AG, Tesla, General Electric, Continental AG, Robert Bosch GmbH, General Motors, BMW AG, ZF Friedrichshafen AG, Valeo, Bosch (Germany), Denso (Japan), BorgWarner (US). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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