Micro-Hybrid Vehicles Market- 2019 Trends, Size, Growth Insight, Share, Leading Players, Competitive Analysis, Regional And Global Industry Forecast To 2023

September 07 23:05 2019
Micro-Hybrid Vehicles Market- 2019 Trends, Size, Growth Insight, Share, Leading Players, Competitive Analysis, Regional And Global Industry Forecast To 2023

Micro-Hybrid Vehicles Market
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.

Market Overview

The global micro-hybrid vehicles market is anticipated to garner a CAGR of 12% during the forecast period (2017-2023), Market Research Future (MRFR) unveils in a detailed report. Micro-hybrid vehicles are also acknowledged as start-stop systems. These are the systems in which the vehicle shuts down the internal combustion engine automatically when kept idle. A vehicle equipped with micro-hybrid technology is highly useful in reducing emissions and fuel consumption.

Market Potential and Pitfalls

The global micro-hybrid vehicles market had witnessed a tectonic surge over the past few years as micro-hybrid vehicles can shut down the internal combustion engine automatically when kept idle. This assists in reducing the fuel consumption by the engines. Thus, the surging demand for fuel-efficient vehicles, due to government regulations regarding emission rate and increased prices of fuel are resulting in the rapid adoption of micro-hybrid vehicles across the globe. With the growing adoption of electric vehicles, along with the current boom in the automotive sector, the micro-hybrid vehicles market is expected to flourish. Moreover, the advent of second-generation micro-hybrid systems for harvesting and energy generation is likely to have a positive impact on the growth of the global micro-hybrid vehicles market.

On the contrary, the high cost of micro-hybrid systems is predicted to restrict the growth of the micro-hybrid vehicles market in the foreseeable future.

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Global Micro-Hybrid Vehicles Market: Segmental Analysis

The micro-hybrid vehicles market is segmented on the basis of battery type, capacity, and vehicle type.

By battery type, the micro-hybrid vehicles market is segmented into lithium-ion, lead-acid, and others. Of these, lead-acid battery is likely to attain the highest CAGR in the coming years as these batteries are rechargeable and require low maintenance. They are extensively used due to their ease of use and high-power density. Lead acid batteries are available in all sizes, shapes, voltages, and amperages, which further trigger their demand.

By capacity, the micro-hybrid vehicles market is segmented into 48V micro-hybrid capacity, 12V micro-hybrid capacity, and others.

By vehicle type, the market is segmented into passenger vehicle and commercial vehicle. Among these, passenger vehicles are likely to gain prominence due to the increased demand for personal mobility, improved lifestyle of the consumers, and increasing per capita income. The rising demand for mid and large-sized cars, increased sales of passenger cars, and strict emission laws are favoring the growth of micro-hybrid vehicles in the passenger cars segment.

Regional Frontiers

Geographically, the micro-hybrid vehicles market spans across Europe, North America, Asia Pacific, and Rest of the World (RoW).

Considering the global scenario, Europe is considered to acquire the lion’s share and dominate the global micro-hybrid vehicles market due to the presence of profitable economies like the U.K., Germany, Norway, and France. People in the developed economies are willing to pay for micro-hybrid vehicles, which is further anticipated to contribute to the market growth. Moreover, major players like Audi AG, Daimler AG, and BMW AG are fueling the market growth in Europe. The surging production of micro-hybrid vehicles to meet the increased demand for high-performance automobiles is likely to favor the market. The growing demand for affordable micro-hybrid vehicles by the market players operating in the logistics industry, coupled with the increased launch of automobiles engineered with micro-hybrid technology are likely to trigger the demand from the micro-hybrid vehicles market across the globe.

North America is likely to gain prominence in the coming years, mainly due to the presence of prominent automobile manufacturers with micro-hybrid technology. The rising adoption of electric vehicles for commercial as well as personal purposes, coupled with the advancements made in the automotive technology are likely to dictate the growth trajectory of the market in the region.

Industry Updates

June 2019: Acura will be racing up Pikes Peak in its annual Pikes Peak International Hill Climb. Among all the rides, four of them will be crewed and driven by full-time Acura R&D engineers. Acura vehicles are homegrown and hand-built cars. The vehicles are equipped with short-path intercooler, larger turbo, and electric supercharger, which is fed by a 48V micro-hybrid system.

Competitive Dashboard

The key players operating in the global micro-hybrid vehicles market include BMW AG (Germany), Audi AG (Germany), Subaru (Japan), Daimler AG (Germany), Kia Motors Corporation (South Korea), Hyundai Motor Company (South Korea), Jaguar Land Rover Automotive PLC (U.K.), Mahindra and Mahindra Limited (India), Porsche AG (Germany), and Mazda Motor Corporation (Japan).

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