Mild Hybrid Vehicles Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024
Sarasota, FL -- (SBWIRE) -- 09/18/2017 -- Mild Hybrid Vehicles Market: Overview
In the mild hybrid vehicles, the energy is generated while applying the brake pedal which turns into the electric energy which is stored in a battery, this energy is further used in order to turn on the starter motor for the start-stop functionality. The mild-hybrids make use of start stop technology and the regenerative braking.
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Mild Hybrid Vehicles Market: Facts
BorgWarner ramps up the 48-volt mild hybrid technology in order to fuel the electric vehicle efficiency. It is expected by the BorgWarner that the 48-volt systems will be capturing more than half the global hybrid vehicle market. The company's 48-volt system solutions along with the integrated belt interior starters and the eBooster electronically driven compressors use the waste energy in order to offer an additional power, efficiency, and functionality.
Mild Hybrid Vehicles Market: Segmentation
The global market for the mild hybrid vehicles is fragmented into its capacity, vehicle type, and on the battery type. Based on the capacity, the global market is segregated into 48 Volt, 12 Volt, 24 Volt, and others. Based on the vehicle type, the market is categorized into HCV, passenger car, and LCV. Based on the type of the battery used, the market is divided into lithium ion, lead-based, and others.
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Mild Hybrid Vehicles Market: Growth Factors
The major factors that are driving the mild hybrid vehicles market are the rise in the awareness of the hybrid vehicles, strict government norms regarding the emissions, and the environmental concerns. The mild hybrid vehicles have better fuel efficiency than the traditional vehicles which is attracting the end users to purchase the hybrid vehicles. The other factors that are influencing the purchase of the hybrid vehicles are the rapid rise in the petroleum products and the growing operational costs of the vehicles. Increased concerns about the pollution are also driving the sales of the hybrid vehicles along with the mild hybrids. There are some nations where the governments have eliminated the subsidy on the mild hybrid vehicles which limits the growth of the vehicle.
Mild Hybrid Vehicles Market: Regional Analysis
The prominent regional markets for the mild hybrid vehicles are North America, Western Europe, and Asia Pacific, especially in Japan. This is due to the increasing demand for the hybrid vehicles in these regions and the rise in the awareness of the hybrid vehicles. The regions such as Latin America, the Middle East and Africa, Eastern Europe, and in some countries of Asia Pacific region have a limited demand for the mild hybrid vehicles. But in the coming years, there will be a change in this trend and the market will flourish in these regions.
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Mild Hybrid Vehicles Market: Competitive Players
The key market players that are involved in the Suzuki Motor Corporation, Toyota Motor Corporation, Volvo Group, Audi AG, Groupe PSA, Changan Automobile (Group) Co., Ltd., Honda Motor Company, Renault-Nissan, Daimler AG, Volkswagen AG, BMW AG, and General Motors Company.
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