Vehicle electrification is associated with a range of electric powered technologies majorly used to drive the vehicle. The range of technologies gets the power from electricity source and perform the task to attain the desired output. The vehicle electrification market has witnessed significant growth over the years, owing to increase in inclination toward electrically driven technology in the automotive to reduce the weight, enhance fuel efficiency, and optimize output requirements. Vehicle electrification is gaining traction as it is substitute solution to traditional hydraulic and mechanical systems.

The report incorporates the study of the global brake system market that focuses on product type of brake system for different sales channels. Various product types include disc brake, drum brake, hydrostatic brake, hydraulic wet brakes, and dynamic & Regenerative brakes. A drum brake is a traditionally used brake, which is widely used, especially in automotive and industrial trucks. Increase in penetration of the electrical vehicles is estimated to support the growth of regenerative & dynamic braking in the near future. Technological evolution in the brake system help avoid skidding or slipping of vehicle when sudden brakes are applied. Growth of the automotive & other end use industries on road fleet is expected to support the demand for aftermarket sales channel.

电池级溶剂技术难度高、行业格局优，未来市场空间宽广，属于新能源汽车产业链中的较优赛道，而当前受新能源汽车高景气影响，电池级溶剂需求旺盛，供给偏紧，整体价格存在上涨可能，当前产业链盈利也较为可观，我们判断相关的电池级溶剂企业盈利相较2020 年有望得到明显改善，建议关注石大胜华(603026，未评级)、新宙邦(300037，增持)、奥克股份(300082，买入)。

中欧美三大市场政策向好，全球电动化趋势明确。热门车型频出，优质供给将激发终端消费需求，国产特斯拉Model Y 和大众ID.4 今年开始销售，将带动行业销量高增长，我们预计今年全球新能源汽车销量将达到450 万辆以上。动力电池领域全球市场格局持续集中，宁德时代和LG 保持强势，同时二线电池企业加速扩产，外资车企客户不断拓展。磷酸铁锂正极材料阶段性占比提升，盈利触底反弹；三元正极行业格局随着高镍化和海外大客户放量而逐渐好转。负极环节格局相对稳定，第一第二梯队间公司差距逐渐缩小，未来看点或在硅碳负极。隔膜龙头优势持续扩大，海外和涂覆膜占比提升将带来盈利边际改善。电解液受益于六氟磷酸锂价格上涨，盈利有望持续提升。建议关注：（1）特斯拉及海外供应链：宁德时代、恩捷股份、天赐材料、当升科技、璞泰来、科达利。（2）阶段性供应紧张，有涨价预期环节：多氟多、德方纳米。（3）市场份额有较大提升空间的二线厂商：孚能科技、亿纬锂能、容百科技、中科电气、星源材质。

The Global Off-Highway Vehicle Telematics Market is expected to reach USD 2.04 Billion by 2025 from USD 1.14 Billion in 2019, at a CAGR of 10.01% from 2020 to 2025. The market size for the Asia Pacific was USD 386.8 Million in 2019. Growing construction industry especially in APAC region, rising demand for the precision in agricultural activities, added focus on operational superiority in the mining industry and favorable government policies in increasing safety and security of off-highway vehicles has pushed the Off-Highway Vehicle Telematics Market in recent years. Further, global mobility scenario such as connected, independent, and electric impulsion have affected a number of industrial sectors. These factors are strongly supported by efficient back-end offices and effective usage of data analytics tools for smooth functioning.

2021 年1 月15-17 日，第七届中国电动汽车百人会论坛举办召开，会议主题为新格局下新能源汽车行业的发展与变革。根据会议主题与演讲聚焦：长期看，全球碳中和目标将驱动行业成长；中期看，行业已经从原本的补贴驱动加速转向市场驱动，未来行业成长确定性强，各家车企与电池企业都在加速打造爆款创新产品，新能源汽车渗透率有望迎来加速提升。推荐具备全球竞争力的新能源汽车供应链优质企业，尤其是特斯拉、大众MEB、LG 化学、宁德时代供应链等。

Electric buses are driven by an electric motor that is powered with the help of on-board batteries. As these buses run completely on battery itself, they require re-charging once drained, unlike refueling in case of ICE buses. E-buses are extremely efficient over ICE buses in terms of power delivery, torque, maintenance as well as are pollution free. Therefore, electric buses are considered as the future of the public transport systems. The e-bus market is driven by factors such as increase in demand for fuel-efficient, high-performance, & lowemission buses, stringent government rules and regulations toward vehicle emission, and reduction in battery prices. However, high manufacturing cost, and low fuel economy & serviceability restrict the market growth. Moreover, technological advancements, and proactive government initiatives creates lucrative growth opportunities for the market.

Automotive software refers to the firmware and middleware operating system used for running in-vehicle embedded applications. Automotive software is generally a set of instructions that helps the user interact with underlying in-vehicle hardware and also perform control functions in a vehicle. Use of automotive software not only improved dashboard functions but also played an important role in improving safety systems, infotainment, control systems, and many other car features. Automotive software includes telematics, infotainment, powertrain, body control and comfort, communication, advanced driver assistance systems (ADAS) software