Bharatbook.com : Worldwide Vehicle Electrification Market Analysis

Vehicle Electrification Worldwide Forecasts report ( http://www.bharatbook.com/Market-Research-Reports/Vehicle-Electrification-Worldwide-Forecasts-First-Edition.html ) presents for two types of vehicle electrification: Powertrain Systems and On-Board Systems. Both sets of forecasts are based on the same Application segments, but the systems and power levels diverge from there.

Like many emerging technologies, vehicle electrification has been around for a long time, but until recently, the technology has not really "taken off." Even though the automotive (i.e. passenger cars and light trucks) portion of the vehicle electrification market is expected to be large, the non-automotive segments represent a potential $893 million opportunity worldwide, growing to approximately $2 billion in 2014, a compound annual growth rate of 17.1%. Passenger hybrid-electric vehicles (HEVs)s get a lot of press, but they do not necessarily represent the best opportunity for suppliers attempting to get into the vehicle electrification
market. Environmental regulations and fuel efficiency do provide a strong stimulus to adopt HEVs and plug-in hybrids, but they do not benefit from the technology as much as the other vehicle types. The automotive market is also very price-sensitive, and vehicle electrification is still an expensive proposition.

The economic and business forces affecting these markets is currently in flux. US automakers are focusing more on hybrid-electric and electric vehicles, due to the provisions of the US Congressional "Financial Stimulus" package. One of the most critical components needed for the adoption of hybrid-electric, plug-in hybrid and pure electric vehicles is batteries and their concurrent battery management systems. The financial stimulus package allocates $300 million for a federal fleet of hybrid and electric vehicles but more importantly, it also provides $2 billion for grants that would support the manufacturing of advanced vehicle batteries and components. In addition, the emphasis on infrastructure spending in this and many other national fiscal stimulus packages will be good for some of the non-automotive markets discussed in this report, such as heavy-duty trucks.

Additional factors are pointing toward increased adoption of electric and hybrid-electric vehicles in a variety of transportation markets. For example, WestStart saw 2008 as the "first commercial volumes" of hybrid trucks. The trends driving demand for vehicle electrification include:
(1) Regulations - With an emphasis on "green" technology, the number of regulatory incentives and requirements favoring electric and hybrid-electric vehicles is increasing, particularly in the United States. This will be further supported by national fiscal stimulus packages.
(2) Cost - Vehicle electrification technology is improving and getting more cost-effective.
(3) Underlying Economics - Adopting electric and hybrid-electric technologies is helping owners save money; e.g. truckers can save money with hybrid technologies.
(4) Gasoline Prices - Prices have been volatile over the past year. In North America, the steep fall in fuel prices has restored some profitability to truck operators and their ability to replace aging equipment, even as it has reduced the demand for passenger HEVs. Still, China, India and other developing regions are using petroleum resources, making shortages more likely in the
future.

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