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The Asia-Pacific Micro-Hybrid Vehicles Market is segmented by Capacity (12v Micro Hybrid and 18v Micro Hybrid), Vehicle Type (Passenger Cars and Commercial Vehicles), Battery Type (Lead-acid and Lithium-ion), and Country.
2018 - 2026
The Asia-Pacific Micro-Hybrid Vehicles Market is anticipated to register a CAGR of over 8% during the forecast period (2020 - 2025).
Micro hybrid vehicles include an internal combustion engine (ICE) equipped with an electric motor, which allows the engine to be turned off whenever the vehicle is coasting, braking, or stopped, yet restart quickly. The Asia-Pacific micro hybrid vehicles market covers the latest trends and technological development in the hybrid vehicles. The market is segmented by Capacity, Vehicle Type, Battery Type, and Geography.
The scope of the report includes:
|Rest of Asia-Pacific|
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Currently, the lithium-ion battery segment is experiencing more demand and is projected to be the fastest growing battery type in the upcoming years mainly due to the increasing sales and demand for battery electric vehicles. However, electric vehicles are causing a restraint to the market but their increasing sale is driving the market. Also, the stringent emission standards, better fuel efficiency, and government incentives are few major factors driving this segment. Battery manufacturers are partnering with OEMs and this is in-turn increasing the vehicle sales as well.
Most of the governments in Asia-Pacific region such as China, Japan, and Singapore have either lifted taxes or have given a considerable amount of tax exemption on purchase of EVs. These initiatives by the government have attracted a lot of customers to purchase EVs and attributed to the increasing sales of Lithium-ion batteries. For instance,
Also, rapid growth in industrialization and increasing technology in countries like China, India, and ASEAN countries. For instance,
Thus, the increasing demand for lithium-ion batteries and such developments shall lead this segment to experience more demand.
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Across the regions in Asia-Pacific, China holds a significant share in the hybrid vehicles market share owing to their highest vehicles sales. This can be attributed to their increasing population which is catering to the growth in vehicle sales and stringent government emission norms. For instance, The Chinese government is implementing China 6 norms for pollution control in the region which are stricter than previous China 5 norms and are based on EURO 6 norms, form July 2020, which results in supporting the demand of micro hybrid vehicles in this region.
Currently, vehicle manufacturers such as Toyota and Honda have been dominating the hybrid vehicle segment in China, with their models such as Toyota Corolla Hybrid and Honda Accord Hybrid.
According to the China Association of Automobile Manufacturers (CAAM), hybrid vehicle sales in China will reach 300,000 units by the end of 2019, up 4.3% from 2018. Also, the demand for EVs and plug-in hybrids are expected to decrease widely, as the subsidies for them are reducing.
Also, electric vehicle manufacturers have been signing contracts or deals with China battery manufacturers. For instance,
Growing income levels and environmental concerns in China are an also major reason which is driving the market over the forecast period. This, in turn, is expected to result in increased investments in automotive technologies in China
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The Asia-Pacific Micro Hybrid Vehicles market is dominated by few players such as Toshiba Corporation, Toyota Motor Corporation, Mahindra & Mahindra Limited, Nissan Motor Company Ltd, and Honda Motor Company, Ltd. Companies are investing heavily in research and development for the innovation of advanced products and technologies.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 12v Micro-Hybrid
5.1.2 18v Micro-Hybrid
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Battery Type
5.4.4 South Korea
5.4.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Toshiba Corporation
6.2.2 Toyota Motor Corporation
6.2.3 Mahindra & Mahindra Limited
6.2.4 Nissan Motor Company Ltd
6.2.5 Honda Motor Company, Ltd.
6.2.6 Daimler AG
6.2.7 Kia Motor Corporation
6.2.8 General Motors Company
6.2.9 Porsche AG
6.2.10 Jaguar Land Rover Limited
6.2.11 Mazda Motor Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS