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
Market Synopsis
Micro-hybrid vehicles have the lowest battery size and they extensively support the start stop function in an automobile. The battery can be recharged very quickly using regenerative braking systems.
The growth of the market is majorly driven by the development of high-performance lithium-ion batteries. These vehicles possess small batteries and motors that do not require technical requirements for manufacturing battery. Micro hybrid vehicles are also gaining importance among consumers and manufacturers as a means of economically enhancing the fuel efficiency of automobiles and also keeping in control, the overall cost of vehicles. Improvements in battery technology and cost reduction are complementing developments in the field of micro hybrid vehicles.
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The increased focus of manufacturers on cost-reduction is leading to the development of micro hybrid vehicles with lead-acid batteries. These batteries have design enhancements, which improve the overall life cycle of the vehicle and enable them to perform start stop function at minimal cost. Therefore, it can be said that the development of high capacity lithium ion batteries is expected to fuel the growth of the market over the forecast period. The advanced generation micro hybrid vehicles have features such as energy harvesting and regeneration, which help keep the air conditioning running when the engine is not under function.
Market Segmentation:
The market has been segmented by battery type, as lead-acid, lithium-ion and others. Amongst these, the lead acid battery segment is expected to expand with the highest CAGR over the forecast period. Lead acid batteries require low maintenance and are rechargeable. These batteries are widely used because of their high power density, and ease of use. They are available in all shapes, voltages, amperages, and sizes. Valve regulated lead acid batteries are considered sealed as they do not allow for the addition or loss of liquid.
The market has been segmented by battery type, as lead-acid, lithium-ion and others. Amongst these, the lead acid battery segment is expected to expand with the highest CAGR over the forecast period. Lead acid batteries require low maintenance and are rechargeable. These batteries are widely used because of their high power density, and ease of use. They are available in all shapes, voltages, amperages, and sizes. Valve regulated lead acid batteries are considered sealed as they do not allow for the addition or loss of liquid.
Geographically, the global micro-hybrid vehicles market has been divided into the four major regions of North America, Europe, Asia Pacific, and Rest of the World. The Europe region is expected to dominate the growth of the global micro-hybrid vehicles market. The market has achieved ample scope in the market owing to the presence of profitable countries such as Germany, U.K., France and Norway. In the developed countries, people are willing to pay for such micro-hybrid vehicles with high quality and performance. Furthermore, the existence of major players in the region such as Daimler AG, Audi AG, and BMW AG is driving the market growth.
Key Players:
Key Players:
The prominent players in the micro-hybrid vehicles market include 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 (U.K.), Mazda Motor Corporation (Japan), and Porsche AG (Germany) are among others.
The report for Global Micro-Hybrid Vehicles Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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