Transportation Electrification Market: Value Chain and Stakeholder Analysis

Transportation electrification is process of incorporating the electric energy to power different modes of transportation. It comprise of adoption of electric vehicles, electrified ships and boats, electric airplanes, and electrified railway transportation. Electrification is marginally adopted by the transportation industry, in order to reduce the burden over fossil and non-conventional fuels.

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Increase in pollution is primarily driving the global transportation electrification market. Increase in global pollution level have raised the concern of governing bodies, peoples, and auto manufacturers for transportation electrification, which produces a significantly lower amount of pollution. Accords and agreements are being signed at international level in order to reduce the emission level from the transportation field. In April 2016, 195 nations signed a global agreement at Paris, known as Paris Climate accord, is aimed at keeping the global temperature rise well below 2 degree Celsius.

The global transportation electrification market is primarily restrained by its cost and unavailability of infrastructure. Higher cost of high performance battery and electric motors has resulted in increased prices of electric mobility, which is restraining its demand across the globe. Electric mobility requires an electrified infrastructure for its proper functioning. Unavailability of such infrastructure across several nations is restraining the adoption of electrified mobility across the globe.

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The global transportation electrification market can be segmented based on transportation mode, electrification type, source, application, and region. Based on transportation mode, the global transportation electrification market can be divided into four segments. Railway transportation has a great adoption to the electrification. A marginally higher number of trains across Europe, Asia Pacific, and North America are electrified. Road transportation motilities are witnessing a surging demand for electrification. Electric vehicles are prominently incorporated across the road transportation industry.