The global micro-hybrid vehicles market is anticipated to grow at a significant CAGR of 9.9% during the forecast period (2022-2028). HEVs (hybrid electric vehicles) are a form of electric vehicle that combines an electric power system with a gasoline engine. A micro-hybrid car employs a “start-stop system,” in that regenerative braking technology assists in stopping and restarting a combustion engine when the vehicle comes to a halt. Micro hybrid vehicles can help reduce fuel usage and harmful emissions from vehicles. In the international market, there are various alternative variants of the system, that are now being referred to as the “simplest hybrid technology.” As a result, as compared to traditional fuel-consuming automobiles, micro-hybrid vehicles provide various advantages.
Micro hybrid autos emit 46% fewer greenhouse gases than conventional vehicles. Micro hybrid vehicles contain energy management features, such as idle-stop and start, resulting in lower gas emissions. The micro-hybrid car market is expected to grow with the rising environmental concerns. Micro hybrid vehicles even have an important characteristic called start-stop. Start-stop systems may aid in the reduction of emissions from exhaust pipes. Vehicle fuel efficiency improves when emissions are reduced through piping. As a result of greater fuel efficiency, the micro-hybrid vehicle industry is expected to grow in the near future. The global micro-hybrid vehicle market has the potential to grow in the near future due to significant advancements in battery technology and cost reductions.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-
- In June 2020, in North America, Kubota debuted its V3307 Micro-Hybrid prototype. Along with the 55.4 kW V3307 diesel engine, which can give an electrical power boost of up to 10kW, the company’s micro-hybrid system includes an AC synchronous motor-generator, a DC/DC converter, and a 48V lithium-ion battery.
- In February 2020, Honda Motor Co., Ltd. announced that all-new Honda Fit Hybrid vehicles will be available for purchase. It comes with Honda’s 2-motor hybrid technology, which uses an electric motor to move the vehicle, resulting in improved fuel efficiency and a smoother ride.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Vehicle Type
- By Battery Type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Audi AG, Bayerische Motoren Werke AG, Daimler AG, Hyundai Motors Co., and Nissan Motor Corp., among others.
A full report is available at: https://orionmarketreports.com/global-micro-hybrid-vehicles-market/110463/
Global Micro-Hybrid Vehicles Market Report by Segment
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
By Battery Type
- Lead-acid
- Lithium-ion
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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