Vehicle Electrification– Electrification of the conventional mechanically operated systems and components in the vehicle can be referred to as vehicle electrification. The report covers the vehicle electrification market on the basis of product type, degree of hybridization, vehicle type, and region. Over the last 10 years, the automotive industry has shifted its focus on vehicle electrification, owing to certain key influencing factors such as the increasing and volatile oil prices, deteriorating urban air quality, and climate change. Electrification of systems and components improves efficiency and helps in weight reduction. Weight reduction further helps in improving fuel economy and reduced emissions.