Vehicle electrification market is anticipated to grow at a significant CAGR of 12.2% during the forecast period (2023-2030). The growing incentives and policies promoting electric vehicle adoption is the key factor supporting the growth of the market globally. According to the International Energy Agency (IEA), in May 2022, public spending on subsidies and incentives for […]
Tag Archives: Vehicle Electrification Market
The Vehicle Electrification market is expected to grow at a CAGR of 12%, from US $ 737 billion by 2028 to US $ 129.6 billion. Due to the various advantages offered by electrification, such as reduced vehicle weight, reduced emissions and increased fuel efficiency. Vehicle electrification means converting the vehicle to use electrical energy by […]
The vehicle electrification market is projected to grow at a CAGR of 11% to reach USD 129.6 billion by 2027 from USD 73.7 billion. Vehicle electrification means converting the vehicle to use electrical energy by integrating electrical components and technical solutions for vehicle operation. Vehicle electrification is considered best to eliminate or reduce carbon emissions […]