Global Micro-Hybrid Vehicle Market 2015-2019
Market outlook of the global micro-hybrid vehicle market
The global 48V micro hybrid market is relatively new and still in its nascent stage. It is expected to grow exponentially in the coming years because of the benefits associated with the Class2 category of micro-hybrid vehicles. Technavio’s market research analysts project the global micro-hybrid vehicle market to grow at a CAGR of over 29% in the next four years.
The conventional versions of micro hybrid vehicles had a 12V battery that had performance issues. Micro hybrid vehicles need more powerful and long-lasting batteries than what conventional 12V lead-acid batteries can deliver. It has led to the development of the 48V battery that is being installed in the Class 2 micro-hybrids. The 48V battery system also provides support to the vehicle’s active chassis systems, and air conditioning compressors.
Global micro hybrid vehicle market by vehicle segmentation
Technavio Announces the Publication of its Research Report – Global Micro-Hybrid Vehicle Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Micro-Hybrid Vehicle Market: Audi, BMW, Daimler, GM and Toyota
Other Prominent Vendors in the market are: Fiat, Hyundai, Iran Khodro, Jaguar Land Rover, Kia, Mahindra & Mahindra, Mazda, Nissan, and Porsche.
Commenting on the report, an analyst from Technavio’s team said: “The focus of various vendors has shifted to the development of Li-ion batteries, and the advancements in technology in this area have been propelling the growth of this sector. The battery is one of the important components of micro hybrid vehicles. Concerns for environmental protection are on the rise worldwide and this has led to the rapid technological changes that would reduce the impact of vehicle emissions on the environment.”
According to the report, the global micro hybrid vehicle market is expected to be primarily driven by the increase in government policies that favor both consumers and automobile manufacturers to manufacture such vehicles, in the form of tax rebates and financial incentives, among others.
Further, the report states that the growth of the global micro hybrid vehicle market is curtailed by many challenges. The decline in fuel prices would reduce the cost benefit of the fuel efficiency offered by this form of vehicle.
Audi, BMW, Daimler, GM, Toyota, Fiat, Hyundai, Iran Khodro, Jaguar Land Rover, Kia, Mahindra & Mahindra, Mazda, Nissan, Porsche.
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