The latest report on Micro-Hybrid Vehicle Market by Infinium Global Research gives complete coverage of the Micro-Hybrid Vehicle Market by battery type (lead-acid, lithium-ion, and other battery types), capacity (12v micro-hybrid, 48v micro-hybrid, and other capacities), vehicle type (passenger vehicles, and commercial vehicles) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Micro-Hybrid Vehicle such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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To Curb the Emission from Vehicles Automakers Are Making the Cars More Fuel-Efficient
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 the 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.
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growing preference for environment-friendly automobiles is likely to increase the demand for the micro-hybrid vehicle
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 environment 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.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Micro-Hybrid Vehicle.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.