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Global Vehicle Electrification Market Report 2020-2027: Rise in Adoption of Fuel-efficient Mobility Solutions Along with Effective Performance


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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%.
Asia-Pacific and North America are expected to witness considerable CAGRs of 12.9% and 11.2%, respectively. Vehicle electrification is the new era of automotive industry as majority of the industry players are changing the manufacturing outlook. The changing automotive manufacturing outlook is expected to support the growth of vehicle electrification market in the recent years.
Moreover, electrical vehicles are witnessing popularity across the globe, owing to their operational efficiency and superior fuel economy. Vehicle electrification outperforms the conventional vehicle providing higher fuel economy, low carbon emission & maintenance, convenience of charging and refueling, smoother drive, and reduced sound from engine. Asia Pa ....

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