Vehicle Electrification Market Key Players Analysis 2031
The vehicle electrification market is expected to register a CAGR of 9.7% during 2023–2031. The growing adoption of electric vehicles is one of the major trends in the vehicle electrification market.
Vehicle Electrification Market Analysis
- The rising concern about environmental impacts of traditional internal combustion engine (ICE) vehicles is one key driver for the electrification of vehicles.
- EVs produce zero tailpipe emissions, hence they help to reduce air pollution and greenhouse gas emissions. Such action is an important part of international efforts to combat climate change, and it is in line with regulations that governments are enforcing to limit air pollution.
- Governments deploy two complementary methods to achieve electrification: stricter emission standards, and various incentives to boost public enthusiasm for EV adoption.
Vehicle Electrification Market Overview
- Digital technology has played a transformative role, especially the progress of battery technology, the key item that improved the capacity of energy storage and the range of driving.
- Meanwhile, the fast-charging infrastructure makes travel in plugin EVs less anxiety about distance compared with the traditional vehicles, which also improve the practicality of such EVs.
- Moreover, the progress in electrical motor technology enhances the power and efficiency of EVs, improve driving level that may become the alternative or rival of the fuel-powered cars.
- With greater vehicle electrification overall, the number of electric models from different automakers has grown. Many prominent manufacturers are making large investments in their battery technology and expanding their existing electric vehicle inventory.
- The competition is fierce, but with each new model release, companies are driving the evolution of electric vehicles forward.
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Vehicle Electrification Market: Strategic Insights
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Vehicle Electrification Market Drivers and Opportunities
Growing Adoption of Passenger Cars and Commercial Vehicles
- Overall, the vehicle electrification market is increasing at a significant rate due to a higher rate of passenger cars and commercial vehicles. Moreover, the demand for lightweight vehicles as well as growth in manufacturing technologies is also supporting the growth of automotive leaf springs market.
- According to the OICA data, the global passenger vehicle sales was around 57.27 million units in 2021 that further reached to around 65.27 million units in 2023.
- Similarly, according to the OICA data, the global overall vehicle sales was around 83.64 million units in 2021 that further reached to around 92.72 million units in 2023. These figures include passenger as well as commercial vehicles in total.
Demand for Sustainable and Environmentally Friendly Transportation System
- The vehicle electrification sector is becoming a fast-moving sector as the whole transport is going towards sustainability and clean surface transport. The influence of climate change is raising the concern and awareness to reduce green-house gases emission to environment. The world is witnessing a fast movement towards electronic vehicles (EVs) along with charging infrastructures. An enormous number of opportunities are emerging in the electronic vehicle electrification sector.
- Automakers are investing billions of dollars into electric vehicles as national governments seek to phase out internal combustion vehicles and offer incentives to promote EV uptake. This creates an opening for jobs in manufacturing, as well as engineering and technical positions, while the increased production of batteries, electric motors and other components of electric vehicles also creates opportunities down the supply chain for new jobs.
- Another promising investment theme is the charging infrastructure, both in terms of the setup for electric vehicles as well as for power grids. With the rising number of electric vehicles on the road, the need for a comprehensive charging network is a watchword for both investors and policymakers alike. The rise of electric vehicles thus opens the door for businesses to explore areas such as building charging infrastructure in parking lots, public spaces or commercial and residential buildings, innovations in fast-charging technologies, and wireless charging systems.
Vehicle Electrification Market Report Segmentation Analysis
Key segments that contributed to the derivation of the vehicle electrification market analysis are product, degree of hybridization, and vehicle type.
- Based on product, the vehicle electrification market is divided into electric pumps, electric power steering, liquid heater PTC, electric air conditioner compressor, actuator, alternator, and others.
- On the basis of degree of hybridization, the market is divided into hybrid electric vehicle, battery electric vehicle, ICE & micro hybrid vehicle, plug-in hybrid electric vehicle (PHEV), and 48 V vehicle.
- On the basis of degree of hybridization, the market is divided into passenger cars, light commercial vehicles, and heavy commercial vehicle.
Vehicle Electrification Market Share Analysis by Geography
- Vehicle Electrification Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering vehicle electrification market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the vehicle electrification market in these regions.
Vehicle Electrification Market Report Scope
Vehicle Electrification Market News and Recent Developments
The vehicle electrification market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the vehicle electrification market are listed below:
- JTMEC is proud to launch its new electrical Dual MineStarter. This product is commonly used in underground mines to start drills, fans, and pumps. It can now support two applications, together with improving efficiency of operations and reducing costs for mines. The Dual MineStarter has two outlets, a configurable design, combined with optional Wi-Fi routers and many other features that makes it unique. It is also ideal to help mines move forward in the electrification of underground infrastructure. (Source: Epiroc, Company Website, September 2023)
- Danfoss Power Solutions’ Editron division has significantly enhanced its portfolio by launching two new electrification products at this year’s Agritechnica trade fair. The game-changing products will increase value for original equipment manufacturers (OEMs) in the on- and off-highway industries and quicken the pace of heavy-duty electrification. (Source: Danfoss, Company Website, November 2023)
Vehicle Electrification Market Report Coverage and Deliverables
The “Vehicle Electrification Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Vehicle electrification market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Vehicle electrification market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST analysis
- Vehicle electrification market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the vehicle electrification market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the vehicle electrification market are Robert Bosch GmbH, Denso Corporation, BorgWarner, Mitsubishi Electric, Continental AG, JTEKT Corporation, Valeo, AISIN SEIKI, Delphi, WABCO, and ZF Friedrichshafen AG.
The growing adoption of electric vehicles in the global vehicle electrification market in the coming years.
The global vehicle electrification market is expected to grow at a CAGR of 9.7% during the forecast period 2023 - 2031.
The increasing sales of passenger and commercial vehicles is one of the major factors driving the vehicle electrification market.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Vehicle Electrification Market - By Product
1.3.2 Vehicle Electrification Market - By Degree of Hybridization
1.3.3 Vehicle Electrification Market - By Vehicle Type
1.3.4 Vehicle Electrification Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VEHICLE ELECTRIFICATION MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER’S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. VEHICLE ELECTRIFICATION MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. VEHICLE ELECTRIFICATION MARKET - GLOBAL MARKET ANALYSIS
6.1. VEHICLE ELECTRIFICATION - GLOBAL MARKET OVERVIEW
6.2. VEHICLE ELECTRIFICATION - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. VEHICLE ELECTRIFICATION MARKET - REVENUE AND FORECASTS TO 2027 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. ELECTRIC PUMPS
7.3.1. Overview
7.3.2. Electric Pumps Market Forecast and Analysis
7.4. ELECTRIC POWER STEERING
7.4.1. Overview
7.4.2. Electric Power Steering Market Forecast and Analysis
7.5. LIQUID HEATER PTC
7.5.1. Overview
7.5.2. Liquid Heater PTC Market Forecast and Analysis
7.6. ELECTRIC AIR CONDITIONER COMPRESSOR
7.6.1. Overview
7.6.2. Electric Air Conditioner Compressor Market Forecast and Analysis
7.7. ACTUATOR
7.7.1. Overview
7.7.2. Actuator Market Forecast and Analysis
7.8. ALTERNATOR
7.8.1. Overview
7.8.2. Alternator Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. VEHICLE ELECTRIFICATION MARKET - REVENUE AND FORECASTS TO 2027 - DEGREE OF HYBRIDIZATION
8.1. OVERVIEW
8.2. DEGREE OF HYBRIDIZATION MARKET FORECASTS AND ANALYSIS
8.3. HYBRID ELECTRIC VEHICLE
8.3.1. Overview
8.3.2. Hybrid Electric Vehicle Market Forecast and Analysis
8.4. BATTERY ELECTRIC VEHICLE
8.4.1. Overview
8.4.2. Battery Electric Vehicle Market Forecast and Analysis
8.5. ICE AND MICRO HYBRID VEHICLE
8.5.1. Overview
8.5.2. ICE and Micro Hybrid Vehicle Market Forecast and Analysis
8.6. PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
8.6.1. Overview
8.6.2. Plug-In Hybrid Electric Vehicle (PHEV) Market Forecast and Analysis
8.7. 48 V VEHICLE
8.7.1. Overview
8.7.2. 48 V Vehicle Market Forecast and Analysis
9. VEHICLE ELECTRIFICATION MARKET - REVENUE AND FORECASTS TO 2027 - VEHICLE TYPE
9.1. OVERVIEW
9.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
9.3. PASSENGER CARS
9.3.1. Overview
9.3.2. Passenger Cars Market Forecast and Analysis
9.4. LIGHT COMMERCIAL VEHICLES
9.4.1. Overview
9.4.2. Light Commercial Vehicles Market Forecast and Analysis
9.5. HEAVY COMMERCIAL VEHICLE
9.5.1. Overview
9.5.2. Heavy Commercial Vehicle Market Forecast and Analysis
10. VEHICLE ELECTRIFICATION MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Vehicle Electrification Market Overview
10.1.2 North America Vehicle Electrification Market Forecasts and Analysis
10.1.3 North America Vehicle Electrification Market Forecasts and Analysis - By Product
10.1.4 North America Vehicle Electrification Market Forecasts and Analysis - By Degree of Hybridization
10.1.5 North America Vehicle Electrification Market Forecasts and Analysis - By Vehicle Type
10.1.6 North America Vehicle Electrification Market Forecasts and Analysis - By Countries
10.1.6.1 United States Vehicle Electrification Market
10.1.6.1.1 United States Vehicle Electrification Market by Product
10.1.6.1.2 United States Vehicle Electrification Market by Degree of Hybridization
10.1.6.1.3 United States Vehicle Electrification Market by Vehicle Type
10.1.6.2 Canada Vehicle Electrification Market
10.1.6.2.1 Canada Vehicle Electrification Market by Product
10.1.6.2.2 Canada Vehicle Electrification Market by Degree of Hybridization
10.1.6.2.3 Canada Vehicle Electrification Market by Vehicle Type
10.1.6.3 Mexico Vehicle Electrification Market
10.1.6.3.1 Mexico Vehicle Electrification Market by Product
10.1.6.3.2 Mexico Vehicle Electrification Market by Degree of Hybridization
10.1.6.3.3 Mexico Vehicle Electrification Market by Vehicle Type
10.2. EUROPE
10.2.1 Europe Vehicle Electrification Market Overview
10.2.2 Europe Vehicle Electrification Market Forecasts and Analysis
10.2.3 Europe Vehicle Electrification Market Forecasts and Analysis - By Product
10.2.4 Europe Vehicle Electrification Market Forecasts and Analysis - By Degree of Hybridization
10.2.5 Europe Vehicle Electrification Market Forecasts and Analysis - By Vehicle Type
10.2.6 Europe Vehicle Electrification Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Vehicle Electrification Market
10.2.6.1.1 Germany Vehicle Electrification Market by Product
10.2.6.1.2 Germany Vehicle Electrification Market by Degree of Hybridization
10.2.6.1.3 Germany Vehicle Electrification Market by Vehicle Type
10.2.6.2 France Vehicle Electrification Market
10.2.6.2.1 France Vehicle Electrification Market by Product
10.2.6.2.2 France Vehicle Electrification Market by Degree of Hybridization
10.2.6.2.3 France Vehicle Electrification Market by Vehicle Type
10.2.6.3 Italy Vehicle Electrification Market
10.2.6.3.1 Italy Vehicle Electrification Market by Product
10.2.6.3.2 Italy Vehicle Electrification Market by Degree of Hybridization
10.2.6.3.3 Italy Vehicle Electrification Market by Vehicle Type
10.2.6.4 United Kingdom Vehicle Electrification Market
10.2.6.4.1 United Kingdom Vehicle Electrification Market by Product
10.2.6.4.2 United Kingdom Vehicle Electrification Market by Degree of Hybridization
10.2.6.4.3 United Kingdom Vehicle Electrification Market by Vehicle Type
10.2.6.5 Russia Vehicle Electrification Market
10.2.6.5.1 Russia Vehicle Electrification Market by Product
10.2.6.5.2 Russia Vehicle Electrification Market by Degree of Hybridization
10.2.6.5.3 Russia Vehicle Electrification Market by Vehicle Type
10.2.6.6 Rest of Europe Vehicle Electrification Market
10.2.6.6.1 Rest of Europe Vehicle Electrification Market by Product
10.2.6.6.2 Rest of Europe Vehicle Electrification Market by Degree of Hybridization
10.2.6.6.3 Rest of Europe Vehicle Electrification Market by Vehicle Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Vehicle Electrification Market Overview
10.3.2 Asia-Pacific Vehicle Electrification Market Forecasts and Analysis
10.3.3 Asia-Pacific Vehicle Electrification Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Vehicle Electrification Market Forecasts and Analysis - By Degree of Hybridization
10.3.5 Asia-Pacific Vehicle Electrification Market Forecasts and Analysis - By Vehicle Type
10.3.6 Asia-Pacific Vehicle Electrification Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Vehicle Electrification Market
10.3.6.1.1 Australia Vehicle Electrification Market by Product
10.3.6.1.2 Australia Vehicle Electrification Market by Degree of Hybridization
10.3.6.1.3 Australia Vehicle Electrification Market by Vehicle Type
10.3.6.2 China Vehicle Electrification Market
10.3.6.2.1 China Vehicle Electrification Market by Product
10.3.6.2.2 China Vehicle Electrification Market by Degree of Hybridization
10.3.6.2.3 China Vehicle Electrification Market by Vehicle Type
10.3.6.3 India Vehicle Electrification Market
10.3.6.3.1 India Vehicle Electrification Market by Product
10.3.6.3.2 India Vehicle Electrification Market by Degree of Hybridization
10.3.6.3.3 India Vehicle Electrification Market by Vehicle Type
10.3.6.4 Japan Vehicle Electrification Market
10.3.6.4.1 Japan Vehicle Electrification Market by Product
10.3.6.4.2 Japan Vehicle Electrification Market by Degree of Hybridization
10.3.6.4.3 Japan Vehicle Electrification Market by Vehicle Type
10.3.6.5 South Korea Vehicle Electrification Market
10.3.6.5.1 South Korea Vehicle Electrification Market by Product
10.3.6.5.2 South Korea Vehicle Electrification Market by Degree of Hybridization
10.3.6.5.3 South Korea Vehicle Electrification Market by Vehicle Type
10.3.6.6 Rest of Asia-Pacific Vehicle Electrification Market
10.3.6.6.1 Rest of Asia-Pacific Vehicle Electrification Market by Product
10.3.6.6.2 Rest of Asia-Pacific Vehicle Electrification Market by Degree of Hybridization
10.3.6.6.3 Rest of Asia-Pacific Vehicle Electrification Market by Vehicle Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Vehicle Electrification Market Overview
10.4.2 Middle East and Africa Vehicle Electrification Market Forecasts and Analysis
10.4.3 Middle East and Africa Vehicle Electrification Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Vehicle Electrification Market Forecasts and Analysis - By Degree of Hybridization
10.4.5 Middle East and Africa Vehicle Electrification Market Forecasts and Analysis - By Vehicle Type
10.4.6 Middle East and Africa Vehicle Electrification Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Vehicle Electrification Market
10.4.6.1.1 South Africa Vehicle Electrification Market by Product
10.4.6.1.2 South Africa Vehicle Electrification Market by Degree of Hybridization
10.4.6.1.3 South Africa Vehicle Electrification Market by Vehicle Type
10.4.6.2 Saudi Arabia Vehicle Electrification Market
10.4.6.2.1 Saudi Arabia Vehicle Electrification Market by Product
10.4.6.2.2 Saudi Arabia Vehicle Electrification Market by Degree of Hybridization
10.4.6.2.3 Saudi Arabia Vehicle Electrification Market by Vehicle Type
10.4.6.3 U.A.E Vehicle Electrification Market
10.4.6.3.1 U.A.E Vehicle Electrification Market by Product
10.4.6.3.2 U.A.E Vehicle Electrification Market by Degree of Hybridization
10.4.6.3.3 U.A.E Vehicle Electrification Market by Vehicle Type
10.4.6.4 Rest of Middle East and Africa Vehicle Electrification Market
10.4.6.4.1 Rest of Middle East and Africa Vehicle Electrification Market by Product
10.4.6.4.2 Rest of Middle East and Africa Vehicle Electrification Market by Degree of Hybridization
10.4.6.4.3 Rest of Middle East and Africa Vehicle Electrification Market by Vehicle Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Vehicle Electrification Market Overview
10.5.2 South and Central America Vehicle Electrification Market Forecasts and Analysis
10.5.3 South and Central America Vehicle Electrification Market Forecasts and Analysis - By Product
10.5.4 South and Central America Vehicle Electrification Market Forecasts and Analysis - By Degree of Hybridization
10.5.5 South and Central America Vehicle Electrification Market Forecasts and Analysis - By Vehicle Type
10.5.6 South and Central America Vehicle Electrification Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Vehicle Electrification Market
10.5.6.1.1 Brazil Vehicle Electrification Market by Product
10.5.6.1.2 Brazil Vehicle Electrification Market by Degree of Hybridization
10.5.6.1.3 Brazil Vehicle Electrification Market by Vehicle Type
10.5.6.2 Argentina Vehicle Electrification Market
10.5.6.2.1 Argentina Vehicle Electrification Market by Product
10.5.6.2.2 Argentina Vehicle Electrification Market by Degree of Hybridization
10.5.6.2.3 Argentina Vehicle Electrification Market by Vehicle Type
10.5.6.3 Rest of South and Central America Vehicle Electrification Market
10.5.6.3.1 Rest of South and Central America Vehicle Electrification Market by Product
10.5.6.3.2 Rest of South and Central America Vehicle Electrification Market by Degree of Hybridization
10.5.6.3.3 Rest of South and Central America Vehicle Electrification Market by Vehicle Type
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. VEHICLE ELECTRIFICATION MARKET, KEY COMPANY PROFILES
12.1. AISIN SEIKI CO., LTD.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. BORGWARNER INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. CLARIOS (BROOKFIELD BUSINESS PARTNERS L.P.)
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. CONTINENTAL AG
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. DELPHI TECHNOLOGIES
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. DENSO CORPORATION
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. JOHNSON ELECTRIC HOLDINGS LIMITED
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. MAGNA INTERNATIONAL INC.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. MITSUBISHI MOTORS CORPORATION
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. ROBERT BOSCH GMBH
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. AISIN SEIKI Co., Ltd.
2. BorgWarner Inc.
3. Clarios (Brookfield Business Partners L.P.)
4. Continental AG
5. Delphi Technologies
6. DENSO Corporation
7. Johnson Electric Holdings Limited
8. Magna International Inc.
9. Mitsubishi Motors Corporation
10. Robert Bosch GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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