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
In 2014, the light micro hybrid vehicle segment dominated the global automotive micro-hybrid market, and it is expected to show significant growth during the forecast period. The growth in the light micro-hybrid vehicle segment is driven by the demand of micro-hybrid vehicle from the APAC region.
Global micro-hybrid market by geography
The EMEA region is expected to account for the largest share of this market by 2019. The regulatory bodies of EU have set emission targets for all car manufacturers till 2020, based on the average mass of new cars registered in the region. The EMEA region receives a major share of its business from European countries such as Germany, Sweden, Italy, and France.
Leading vendors analyzed in this report
Other prominent vendors in this market include Fiat, Hyundai, Iran Khodro, Jaguar Land Rover, Kia, Mahindra & Mahindra, Mazda, Nissan, and Porsche.
Key questions answered in the report
What are the key factors driving the global micro hybrid vehicle market?
What are the key market trends impacting the growth of the global micro hybrid vehicle market?
What are the various opportunities and threats faced by the vendors in the global micro hybrid vehicle market?
Trending factors influencing the market shares for the global micro hybrid vehicle market?
Market shares for APAC, Americas, and EMEA?
Key outcome of the five forces analysis on the global micro hybrid vehicle market?
Growth forecast of the global micro hybrid vehicle market?
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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.