Global Mild Hybrid Vehicles Market Segmentation by Capacity (Up to 12 V, 12 V to 24 V, 24 V to 48 V, 48V and Above), By Vehicle Type (Passenger Cars, Commercial Vehicle), By Battery Type (Lithium-Ion, Lead-Acid, Others), By Region (North America, Europe, Asia-Pacific, MEA& Africa, South Africa).
A well-functioning and efficient transport sector is a requirement for economic and social development, bringing people together and enabling the trade and exchange of goods and ideas. Two of the important aims in developing mild-hybrid vehicle systems are to save fuel and reduce emissions. In Mild hybrid vehicles, there are generally two systems, an internal combustion engine in combination with an electric motor. A drive of this kind offers benefits not only in terms of economy and environmental compatibility but also about driving enjoyment, comfort, and everyday practicality. Factors such as increasing emission norms about 〖CO〗_2 emissions, high fuel efficiency, supportive government initiatives and continuous reduction in battery price are driving the global mild hybrid vehicle market over the forecast period.
However, factors like less awareness pertaining to mild hybrid vehicles and high costs associated are restraining the market growth over the forecast period.
Global Mild Hybrid Vehicles Market is segmented by capacity, by vehicle type, by battery type, and by Region. By battery capacity, 48V and above capacity segment held 38.65% of market share in 2019 and is expected to keep its dominance over the forecast period. The majority of OEMs are investing in 48V and above battery capacity in some way or another. Nissan, for instance, is an early adopter of mild hybrid vehicles with big and early investments in 48V and above battery capacities, as 48V is a powerful and commercially viable solution for hybrid vehicles.
By geography, APAC dominated the global mild-hybrid vehicle market with xx% of market share in 2019 and is expected to keep its dominance over the forecast period owing to increasing sales of mild hybrid vehicles in Japan, China, and South Korea. The Chinese market is expected to grow at the highest CAGR of 8.6% over the forecast period. The country now has a larger mild-hybrid vehicle market than Europe and the United States. With a sales share of around 94 percent, domestic OEMs currently dominate the Chinese mild-hybrid vehicle market. North America and Europe regions are expected to have considerable growth for mild hybrid vehicles, as these regions have been focusing more toward pure electric or mild hybrid vehicles growth.
Report covers in-depth analysis of key development, marketing strategies, supply-side, and demand-side indicators of market leaders, potential players, and new entrants. Some of the major key players such as Suzuki Motor Corporation, Toyota Motor Corporation, Volvo Group, Audi AG, Audi AG, Nissan Motor Co. Ltd, Honda Motor Company Ltd, Suzuki Motor Corporation. These key players are adopting various organic and inorganic growth strategies to increase their regional presence and business operations.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Mild Hybrid Vehicles Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Mild Hybrid Vehicles Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Mild Hybrid Vehicles Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Mild Hybrid Vehicles Market Forecast and Analysis.”
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