A recent report published by Infinium Global Research on the micro-hybrid vehicle market provides an in-depth analysis of segments and sub-segments in the global as well as regional micro-hybrid vehicle market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional micro-hybrid vehicle market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global micro-hybrid vehicle market. According to the report, the global micro-hybrid vehicle market is projected to grow at a CAGR of 19.58% over the forecast period of 2019-2025.
Market Insight
As the global pollution levels are increasing and the crude oil reservoirs are depleting, demand for more fuel-efficient and lower-emission cars have increased. The hybridization of vehicles is one of the methods to increase fuel efficiency and reduce the emissions of the vehicle. There are mainly three types of vehicle hybridization including full hybrid, mild hybrid, and micro-hybrid. The micro-hybridization requires lowest battery size. The micro-hybrid vehicle market is competitive and consolidated in nature. Only some of the market players hold a large amount of market share. The key market players including Audi AG, BMW AG, Toyota Motor Corporation, Nissan Motor Co., Ltd., Mazda Motor Corporation, General Motors Company, Daimler AG and others are highly investing in the development of improved batteries to enhance the performance of vehicles.
The major factor contributing to the growth of the micro-hybrid vehicle market is that the micro-hybridization of the vehicle is an economical method of enhancing fuel efficiency. Due to growing emissions from vehicles, the level of pollution is also increasing. To curb the emission from vehicles automakers are making the cars more fuel-efficient. Moreover, the growing preference for environment-friendly automobiles is likely to increase the demand for the micro-hybrid vehicle. The rise in the awareness among the consumers regarding environmental protection has changed their buying behavior, which in turn boosts the demand for the micro-hybrid vehicle. Furthermore, the high disposable income of the individuals boosts the growth of the micro-hybrid vehicle market. However, the longer time for charging the batteries and lower battery capacities is projected to be a key restraining factor for the micro-hybrid vehicle market. Nevertheless, the development of high-performance lithium-ion batteries is projected to offer lucrative opportunities to the market players.
In terms of region, Europe held the highest market share, dominating the global micro-hybrid vehicle market. The dominance of the Europe market attributed to the increase in concerns to protect the environment and reducing greenhouse gas emissions. Moreover, the regulatory bodies of Europe have set emission targets, which is expected to boost the growth of the micro-hybrid vehicle market in this region.
Segment Covered
The report on global micro-hybrid vehicle market covers segments such as battery type, capacity, and vehicle type. On the basis of battery type, the sub-markets include lead-acid, lithium-ion, and other battery types. On the basis of capacity, the sub-markets include 12v micro-hybrid, 48v micro-hybrid, and other capacities. On the basis of vehicle type, the sub-markets include passenger vehicles, and commercial vehicles.
Companies Profiled:
The report provides profiles of the companies in the market such as Audi AG, BMW AG, Toyota Motor Corporation, Nissan Motor Co., Ltd., Mazda Motor Corporation, General Motors Company, Daimler AG, Subaru Corporation, Hyundai Motor Company, Kia Motors Corporation, and Other Companies.
Report Highlights:
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of micro-hybrid vehicle market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
