Micro-Hybrid Vehicles Market Share, Size, Trends, And Business Opportunity Analysis Report 2019 include historic data, with forecast data to 2023. Micro-Hybrid Vehicles Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023.
Micro-hybrid vehicles have the smallest battery size, and the battery used in these vehicles can be recharged easily and quickly via regenerative braking systems. The batteries also support the start-stop function in an automobile. Market Research Future (MRFR) has published a research report on the global micro-hybrid vehicles market that estimates enhancement for this market at 12% CAGR (Compound Annual Growth Rate) between 2017 and 2023.
The major driver for global micro-hybrid vehicles market growth is the development of high-performance lithium-ion batteries. Other factors facilitating the market growth include better fuel efficiency, lower cost of vehicles, nominally-priced lead-acid batteries with higher life, and lastly, energy harvesting & regeneration.
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The global micro-hybrid vehicles market segmentation covers battery type, capacity, vehicle type, and lastly, region. By battery type, this market has been segmented into lead-acid, lithium-ion and others. During the forecast period, the lead-acid battery segment is expected to witness the highest growth in the market because lead acid batteries are rechargeable, and they require low maintenance. These batteries have high power density, and they are available in all amperages, shapes, sizes, and voltages.
The capacity-based segmentation segments the market into 12V micro-hybrid, 48V micro-hybrid, others. Based on vehicle type, the market can be segmented into passenger vehicle and commercial vehicle. The passenger vehicle is used for traveling. The commercial vehicle is used for transferring goods from one place to another for business purposes.
The regional segmentation of the global micro-hybrid vehicles market has segmented the market into regional markets known as Asia Pacific, North America, Europe, and the rest of the world (RoW). Europe is the largest regional market due to the presence of developed countries like France, Germany, Norway, and the United Kingdom (UK) because people have higher purchasing power. Germany has a strong automotive sector. Many important market players are based in Europe. Another important country-specific market in this region is Italy, followed by the remaining countries of Europe.
North America is also an important regional market due to the presence of many developed countries and key market players. Other factors aid the market growth in North America are increasing the adoption of electric vehicles for commercial as well as personal purposes and rapid technological advancement. United States of America (USA) has an established automotive sector. After the USA, Canada is the most important country-specific market in this region.
In the Asia Pacific region, the market is growing due to the demand for the affordable vehicle, the growing purchasing power of people, increasing urbanization, and stable technological development. In this region, the important country-specific markets are China, India, and Japan, followed by the remaining countries of the Asia Pacific region.
The key players in the global micro-hybrid vehicles market include Audi AG (Germany), BMW AG (Germany), Daimler AG (Germany), Hyundai Motor Company (South Korea), Jaguar Land Rover Automotive PLC (UK), Kia Motors Corporation (South Korea), Mahindra & Mahindra Limited (India), Mazda Motor Corporation (Japan), Porsche AG (Germany), and Subaru (Japan).
Latest Industry News
Equipped with the micro-hybrid system, a fleet of 28 new Diamond buses is set to operate on the streets of Worcester, UK. 27 MAR 2019
Morris Garages (MG), the British brand owned by China’s SAIC, has unveiled an MG Hector Hybrid SUV that is equipped with a micro-hybrid system. MG has plans to launch the vehicle in India soon. 29 MAR 2019
Equipped with the micro-hybrid system, Mahindra compact SUV XUV300 has crossed the mark of 13,000 bookings. The vehicle was launched in February 2019. 14 MAR 2019
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