The global mild hybrid vehicles market is anticipated to grow at a considerable CAGR of 8.9% during the forecast period (2022-2028). One of the major factors contributing to the growth of the market is the rise in the number of vehicles to provide a 48V battery pack system in mild hybrid vehicles. For Instance, in January 2020, Suzuki Corp. announced the development of a 48V mild-hybrid system for its best-selling car models such as Ciaz, Baleno, XL6, and Ertiga. Companies are adopting more and more 48V battery systems owing to fulfill the requirement of growing advanced features in the vehicles.
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These features require the voltage capacity to meet Safety Extra Low Voltage (SELV) requirement, and with the limited range of 48V’s of 30-60V, it can distribute power to vehicle’s components without causing unsafe SELV issues to resist power supply shut down and protects downstream circuitry from damage. It also increases fuel efficiency with lower CO2 emissions. With all the developments, companies are inclining more to the 48V battery system to stay in the competition which is also fueling the market. For instance, in August 2021, German carmaker Mercedes Benz launched its new refined model of C-Class with both, petrol, and diesel variants. All these are equipped with 48V mild-hybrid technology. Moreover, in March 2021, Hyundai, a South Korean vehicle manufacturer, also launched a new mild hybrid car. The car was named Bayon and comes with a 1-liter turbocharged petrol engine integrated with a 48V mild-hybrid technology.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Capacity
- By Vehicle Type
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- including Ford Motor Co., Hyundai Motor Co., Nissan, Suzuki Motor Corp., TOYOTA MOTOR CORP., and others.
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Mild Hybrid Vehicles Market Report Segment
By Capacity
- Less Than 48V
- 48V and Above
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Mild Hybrid Vehicles Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- AB Volvo
- AUDI AG
- BMW AG
- FCA Italy S.p.A.
- General Motors
- Hyundai Motor Co.
- Kia Corp.
- Mercedes-Benz Group AG
- Mitsubishi Electric Corp.
- Volkswagen AG
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