Mild Hybrid Vehicles Market to rise at CAGR of 4.8% through 2027 - Report by Market Research Future (MRFR)


New York, Aug. 06, 2021 (GLOBE NEWSWIRE) -- Mild Hybrid Vehicles Market Overview: According to a comprehensive research report by Market Research Future (MRFR), Mild Hybrid Vehicles Market Research Report, Capacity Type, Vehicle Type, Battery Type and Region - Forecast till 2027” the market grow at a rate of 4.8% during the forecast period 2020-2027.

Plans for Electrification to Spur Global Mild Hybrid Vehicles Market

Mild hybrid vehicles are vehicles with similar architecture to self-charging hybrids but contains engine functionality for petrol and diesel. The report on the global mild hybrid vehicles market by Market Research Future (MRFR) covers trends in manufacturing and opportunities for the industry for the forecast period (2019-2027). The effects of the COVID-19 pandemic on the market value are discussed in high detail.


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Competitive Analysis

Prominent players of the global mild hybrid vehicles market profiled are-

  • Hyundai Motor Company (South Korea)
  • Suzuki Motor Corporation (Japan)
  • General Motors Company (US)
  • Tesla Motors Incorporated (US)
  • BYD Co. Ltd (China)
  • Daimler Ag (Germany)
  • Renault–Nissan–Mitsubishi Alliance (Netherlands)
  • Groupe PSA (France)
  • Honda Motor Company Limited (Japan)
  • Fiat Spa (Italy)
  • AB Volvo (Sweden)
  • Toyota Motor Corporation (Japan)
  • Ford Motor Company (US)
  • Peugeot Sa (France)
  • Volkswagen Ag (Germany)

Focus on development of electric powertrains and efficiency of fuel usage are prime concerns of the players.

Industry Update

Maruti Suzuki Corporation is offering mild hybrid versions of its cars, namely Vitara Brezza, Ertiga, Baleno, Ciaz, and S-Cross to customers in India.


Browse In-depth Market Research Report (132 pages) on Mild Hybrid Vehicles

https://www.marketresearchfuture.com/reports/mild-hybrid-vehicles-market-8152


Market Scope

The global mild hybrid vehicles market is poised for a robust growth over the forecast period.

Strict Emission Norms to Drive Market Demand

Government efforts to lower carbon emission rates and encourage production of electric and hybrid vehicles can favor the global market growth. Incentives provided to automakers and customers on purchase can drive the market demand significantly. This is aided by electrification of vehicles and shift from internal combustion engines. Falling prices of lithium and establishment of charging stations due to government support can propel the demand for mild hybrid vehicles.

Improvements in Vehicle Performance

Mild hybrid vehicles are improving their overall performance with low charging periods. This is evident with constant battery tests and advances in battery technology.  Integration of engine, battery, motor, and regeneration of power through simulations of various models and evolution of processors. Development of battery packs that accelerate the volume of regenerative energy capture and optimization of battery chemistries can drive the mild hybrid vehicles market growth.

Reduction of vehicle weight can lower the size of powertrains and drive electric motor propulsion. This can further lower the price of mild hybrids and development of common charging standards can elicit further demand for the market.

Preference of Battery Electric and Fuel Cell Vehicles to Hamper Market Growth

Silent engine noises and additional torque compared to mild hybrid vehicles can hamper the market growth. Simple nature of the car and affordable cost of electricity can attract customers.

COVID-19 Impact

The COVID-19 outbreak will negatively impact the mild hybrid vehicles market due to shutdown of various production facilities and suspension of work. But federal stimulus packages to the automotive sector and concerns of safety for children can provide an impetus to market growth.


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Segmentation Analysis

More than 24 V Segment to Lead

On the basis of capacity, the global mild hybrid vehicles industry has been segmented into 12 V, 12 V to 24 V, and more than 24 V. The more than 24 V segment is expected to lead the market owing to efforts to steer the automotive industry towards clean fuel and rising electrification. Efforts by various countries to introduce EVs through subsidies and plant establishments can drive the segment growth.

Passenger Cars to Hold Dominant Share of Mild Hybrid Vehicles

On the basis of vehicle type, the mild hybrid vehicle industry has been divided into passenger cars and commercial vehicle. Passenger cars can dominate the market owing to low fuel consumption and energy savings of these cars. Improvements in efficiency and low taxes on diesel can persuade customers and drive the segment growth.

Lithium-ion Batteries to Carve Dominant Market Share

On the basis of battery type, the global mild hybrid vehicle market has been segmented into lithium-ion, lead-acid, and others. The lithium-ion segment is set to dominate the market as prices of lithium dip and market prices are under control. Improvements in battery technology and elimination of heating issues can drive the segment growth. Recently, Hella designed a 48 V battery for mild hybrid vehicles and encourages functions of recuperation.

Regional Analysis

Paris Agreement to Spark Mild Hybrid Vehicle Market Demand in Europe

Europe is set to lead in market demand over the assessment period owing to stringent emission norms and efforts by countries in lowering greenhouse gas emissions (GHGs). Adoption of mild hybrid vehicles by France, Germany, Norway, and the Netherlands can encourage regional market growth. The move by various automakers to open new plants in China to lower retail prices can favor the mild hybrid vehicles market.

Government Incentives to Spur North America Mild Hybrid Vehicle Market

North America is anticipated to register strong demand for the mild hybrid vehicle market owing to supportive government incentives and stringent emission norms. Huge fuel efficiency and low production prices can favor the market.


Segmentation of Market covered in the research:

Information by Capacity Type (Up to 12 V, 12 V to 24 V and More than 24 V), Vehicle Type (Passenger Cars and Commercial Vehicle), Battery Type (Lithium-Ion, Lead-Acid and others) and Region (North America, South America, Europe, Asia- Pacific, and Middle East & Africa)


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