Global Micro Hybrid Vehicles Market: Snapshot
Of the innumerous ways being currently adopted by vehicle manufacturers to sustain in the cutthroat competition and bring to consumers new technologies, the shift to electric propulsion systems is one of the most common and popular. Hybrid electric vehicles are becoming ubiquitous owing to the numerous benefits of electric propulsion in prolonging engine life, reducing fuel consumption, and adding to the environment-friendliness quotient of vehicles.
Of the three key varieties of hybrid vehicles, namely full hybrid, mild hybrid, and micro hybrid, the report presents an overview of the present state of development of the market for vehicles with micro hybrid technology. Requiring the lowest battery size of the three types, micro hybrid vehicles are gaining prominence across consumers and manufacturers as an economical way of enhancing the fuel efficiency of vehicles without having to significantly increase the overall cost of vehicles. Vast improvements in battery technologies and cost reductions are complementing developments in the field of micro hybrid vehicles.
Rising sales of consumer vehicles across regional markets with developing economies such as India and China are presenting massive growth opportunities for the micro hybrid vehicles market. The rising population of people with high disposable incomes and the willingness to spend more on environment-friendly automobiles in these countries are compelling car manufacturers to introduce micro hybrid vehicles. In the next few years, a significant share of total car sales in these countries are expected to have hybrid technology.
Hybrid electric vehicles or HEVs are a type of electric vehicle which combine an electric propulsion system i.e. a hybrid vehicle drive-train with the traditional; internal combustion engine. . Hybrid electric vehicles are essentially of three types, namely: full hybrid vehicles, mild hybrid vehicles and micro hybrid vehicles. .Among these, the micro hybrid vehicles which are also known as start-stops systems have the lowest battery size as they support only in the start stop function. The battery offers support to the auxiliary circuits for controlling the climate and the vehicle makes uses of regenerative braking to recharge the battery quickly. In micro hybrids, the vehicle is capable of automatically shutting down the engine when kept in idle, thereby helping to reduce the amount of time spent by the engine idling. Micro hybrid vehicles are useful in cutting fuel consumption and the hazardous vehicular emissions and thus provide numerous benefits as compared to the conventional fuel consuming vehicles. The operating costs associated with these vehicles are also comparatively low than the fuel based automobiles. Thus, owing to the aforementioned reasons and factors such as incorporation of regenerative braking and start-stop system, micro hybrid vehicles are increasingly becomes one of the easiest and cheapest solutions for the fuel and emissions efficient passenger vehicles.
The emphasis on cost-reduction has resulted in the development of the most early micro hybrid vehicles with lead-acid batteries with either the absorbed glass mat or the enhanced flooded battery design. Such batteries have design enhancements which help to improve the overall life cycle under partial SOC conditions, when compared to the conventional automotive starting, lighting and ignition batteries, thus enabling them to perform the start stop actions at minimal cost impact. The development of the high capacity lithium ion batteries is set to fuel the growth of the micro hybrid vehicle market substantial during the forecast period. While the conventional micro hybrid vehicles simple rely on start stop system for the engine, the second generation micro hybrids incorporated other features like energy harvesting and regeneration. These vehicles are in the emerging phase and advanced features such as keeping the air conditioning running while the engine is not functioning and shutting off the engine during coasting are incorporated in these micro hybrids. Thus, rapid technological advancements are projected to further bolster the global micro hybrid vehicle market growth during the forecast period. Further, ultracapacitor makers are looking at vehicle electrification as a means to increasing sales, targeting the micro hybrid vehicles instead of the plug-in electric vehicles and this is set to offer potential growth opportunities to the global market.
The global micro hybrid vehicles market can be segmented on the basis of battery type into lead acid batteries, lithium ion batteries and others. Based on battery capacity the global market can be segregated into 12-V Micro-Hybrid, 48-V Micro Hybrid and others. Additionally the market can be bifurcated, by vehicle type into light vehicles and heavy vehicles. The global micro hybrid vehicles market can be further classified geographically into North America, Europe, Asia Pacific, South America and Middle East and Africa.
The global micro hybrid vehicles market report provides the market share analysis of the key industry participants operating in the industry. The global market comprises a considerable number of manufacturers. These players have been exhaustively profiled and their business overview, financial overview, business strategies and recent developments have been covered under the purview of the report. Some of the major players operating in the global micro hybrid vehicles market include Audi AG, General Motors Company, BMW AG, Toyota Motor Corporation, Daimler AG, Fuji Motor Corp, Hyundai Motor Company, Fiat Automobiles S.p.A., Jaguar Land Rover, Nissan, Mahindra & Mahindra, Porshe Ag and Mazda Motor Corporation among others.
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- Market segments and sub-segments
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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