Analysis of Micro-Hybrid Vehicles Market in 2019 Global New Technology, Applications, Industry Growth and Market Status
Micro-Hybrid Vehicles Market 2019
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
Global Micro-Hybrid Vehicles Market Research Report by Battery Type (Lead-acid, Lithium-ion, Others), by capacity (12V Micro-Hybrid, 48V Micro-Hybrid, Others), by Vehicle type (Passenger vehicles, Commercial Vehicles) and by Region – Forecast Till 2023
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Technological advancement in the automotive sector is leading to the development of multiple systems that are energy efficient and are positively tested for enhancing the functioning and performance of automobiles. The paradigm shift to electric propulsion systems is aiding the development of micro-hybrid vehicles. Market Research Future (MRFR) has published a report stating that the global micro-hybrid vehicles market is marked to expand significantly at a CAGR of 12% During the forecast period of 2017-2023.
The major players profiled by MRFR that are operating in the global micro-hybrid vehicles market are Audi AG (Germany), BMW AG (Germany), Daimler AG (Germany), Subaru (Japan), Hyundai Motor Company (South Korea), and Kia Motors Corporation (South Korea). Mahindra and Mahindra Limited (India), Jaguar Land Rover Automotive PLC (the U.K.), Mazda Motor Corporation (Japan), Porsche AG (Germany) and others.
Market Drivers and Restraints:
The ability of micro-hybrid vehicles to automatically shut down the internal combustion engine when kept in idle, aids is reducing the fuel consumption by the engines. Hence, increasing demand for fuel-efficient vehicles as a result of increasing fuel prices and government regulation regarding the emission rate of vehicles is leading to the rapid adoption of micro-hybrid vehicles, which in turn is propelling the growth of the global micro-hybrid vehicles market.
Rapid development in automotive sector and increasing adoption of electric vehicles are some other factors that are driving the growth of the global micro-hybrid vehicles market. Introduction of second generation micro-hybrid systems for energy regeneration and harvesting is impacting positively on the expansion of the global micro-hybrid vehicles market. However, high cost of micro-hybrid systems is likely to restrain the growth of the global micro-hybrid vehicles market during the forecast period.
The global micro-hybrid vehicles market has been segmented on the basis of battery type, capacity and vehicle type. Based on battery type, the micro-hybrid vehicle market has been segmented into lead-acid, lithium-ion and others. The lead-acid battery segment is forecasted to project significant growth in the global micro-hybrid vehicles market owing to the high power density. Based on capacity, the micro-hybrid vehicle market has been segmented into 12V micro-hybrid, 48V micro-hybrid and others. based on vehicle type, the micro-hybrid vehicles market has been segmented into passenger vehicle and commercial vehicle.
The global micro-hybrid vehicles market has been geographically segmented into four major regions such as Europe, Asia Pacific, North America and the rest of the world. The Europe region is forecasted to dominate the global micro-hybrid vehicles market owing to the increasing production of micro-hybrid vehicles in order to meet the global demand for high-performance automobiles. The micro-hybrid vehicles market is expanding at a noteworthy growth rate during the assessment period due to the increasing demand for affordable micro-hybrid vehicles by the players operating in logistics industry and rise in launch of new automobiles with micro-hybrid technology in the emerging economies of this region. The North America region is projecting significant growth in the global micro-hybrid vehicles market owing to the presence of large pool of manufacturers of automobiles with micro-hybrid technology, increasing adoption of electric vehicles for personal as well as commercial purposes and rapid advancement in automotive technology in this region.
In October 2018, Mahindra and Mahindra, an Indian multinational car manufacturing corporation, has launched a new micro-hybrid pick-up truck named ‘Bolero Pik-up,’ which has 1.7 tons of payload capacity.
In August 2018, Tydrolyte LLC has announced that it is launching a patent-pending electrolyte solution for lead-acid battery manufacturers. It is a less toxic replacement for sulfuric acid in lead batteries that are used in micro-hybrid vehicles.
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