The global vehicle electrification market was valued at USD 89.26 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 9.9% from 2023 to 2030. This anticipated growth is largely driven by the automotive sector's shift towards alternatives to petroleum-based fuels, as well as government initiatives promoting environmentally sustainable transportation...

Vehicle Electrification Industry The global vehicle electrification market size is expected to reach USD 187.13 billion by 2030, registering a CAGR of 9.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is witnessing tremendous growth owing to several benefits such as reduced vehicle weight, higher fuel efficiency, improved driving comfort, and safety...

Vehicle Electrification Industry The global vehicle electrification market size was valued at USD 89.26 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.9% from 2023 to 2030. The market is expected to grow significantly due to the automotive industry's demand for alternatives to petroleum-based fuel and government initiatives for environmentally sustainable...