Micro-Hybrid Vehicles Market ‚ Growth, Trends, and Forecast (2020 - 2025)

Micro Hybrid Vehicle Market has been Segmented by Capacity (12v Micro Hybrid and 48v Micro Hybrid), Vehicle Type (Passenger Cars and Commercial Vehicles), Battery Type (Lead-acid and Lithium-ion), and Geography.

Market Snapshot

Study Period:

2020-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

10 %

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Market Overview

The Micro Hybrid Vehicle Market is expected to register a CAGR of more than 10 % during the forecast period, 2020-2025.

  • The development of high-performance lithium-ion batteries is expected to help drive the micro-hybrid vehicle market significantly during the forecast period. These vehicles have small batteries and motors that do not require any technical modification or requirements for battery manufacturing other than what is required for hybrid and electric vehicles.
  • The increasing industrialization and growing urban population in this region is attributing the demand to the micro hybrid vehicles market. With growing stringent emission standards across the world, automakers are gradually shifting their production from conventional engine vehicles to hybrid and electric.
  • The increasing industrialization and growing urban population in this region is attributing the demand to the micro hybrid vehicles market especially in the Asia Pacific region.
  • The concerns to protect the environment and reducing greenhouse gas emissions, especially carbon dioxide, will play a major role in driving the growth of the market. The fall in the prices of fuel has had an adverse impact on the choice of fuel-efficient vehicles, thereby posing some challenges to the micro-hybrid vehicle market. However, the cost of hybrid and electric vehicles and lack of charging infrastructure can hinder the growth rate of market as cost effective customers prefer conventional IC engine vehicles affordable.

Scope of the report

The Micro Hybrid Vehicle Market covers the current and upcoming trends with recent technological developments. The report will provide a detailed analysis of various areas of the market by vehicle, capacity and battery type. The market share of significant automotive green tire companies and region level analysis will be provided in the report.

Capacity
12 V MicroHybrid
48 V Micro Hybrid
Vehicle Type
Commercial Vehicle
Passenger Cars
Battery Type
Lithium Ion
Lead Acid
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
Mexico
South Africa
Other Countries

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Key Market Trends

Lithium-ion Batteries Segment is Growing with a High Rate

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, in April 2020, the China government has introduced 10% service tax waiver for electric vehicles to boost the demand of the market due to Covid-19 impact.

Also, rapid growth in industrialization and increasing technology is pushing the micro hybrid vehicles market. In June 2018, Toshiba Corporation, Sojitz Corporation and CBMM (Companhia Brasileira de Metalurgia e Mineração) have announced the joint research and development agreement on next-generation lithium-ion battery material using Niobium Titanium Oxide (NTO). The three companies will be working on development of a next generation lithium-ion battery which is characterized by its high-energy density and ultra-rapid recharging capability required for automotive applications.

Thus, the increasing demand for lithium-ion batteries and such developments shall lead this segment to experience more demand.

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Asia-Pacific Remains the Largest Market in 2019

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. In the first three quarters of 2019, Corolla Hybrid sold 38,540 units in China, which has accounted for nearly 20% increase of total hybrid deliveries during the period.

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, In November 2019, BMW Group has signed a contract of USD 4 Million to buy batteries from CATL, a Chinese battery manufacturer, to support its vehicle electrification drive.

The Indian government has announced that all the vehicles registered after the April 1st of 2020 should be BS-VI compliant. However, due to the outbreak of CoVid-19 in the country, dealerships and production facilities were shutdown from mid-march, due to which large stock of BS-IV vehicles have been in the inventory. The government has given an extension. This will boost the market post the end of lockdown in the country.

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Competitive Landscape

The Micro Hybrid Vehicle Market is dominated with various international and regional players such Audi AG, BMW AG, DAIMLER AG, SUBARU and General Motors. Although to have the edge over its competitors, the major automotive micro hybrid vehicle companies are making joint-ventures, partnerships to launch newer products.

  • In 2020, Kubota launches its V3307 Micro-Hybrid prototype in North America. The company’s micro-hybrid system contains an AC synchronous motor-generator, a DC/DC converter, and a 48V lithium-ion battery, along with the 55.4 kW V3307 diesel engine, which can provide electrical power boost of up to 10kW.
  • In February 2020, Honda Motor Company, Ltd. has announced to begin its sales of all new Honda Fit Hybrid vehicles. It is equipped with Honda’s 2-motor hybrid system which drives the vehicle with an electric motor, which results a better fuel efficiency and smooth drive.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Capacity

      1. 5.1.1 12 V MicroHybrid

      2. 5.1.2 48 V Micro Hybrid

    2. 5.2 Vehicle Type

      1. 5.2.1 Commercial Vehicle

      2. 5.2.2 Passenger Cars

    3. 5.3 Battery Type

      1. 5.3.1 Lithium Ion

      2. 5.3.2 Lead Acid

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Rest of Europe

      3. 5.4.3 Asia Pacific

        1. 5.4.3.1 India

        2. 5.4.3.2 China

        3. 5.4.3.3 Japan

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Mexico

        3. 5.4.4.3 South Africa

        4. 5.4.4.4 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Audi AG

      2. 6.2.2 Daimler AG

      3. 6.2.3 BMW AG

      4. 6.2.4 Subaru

      5. 6.2.5 General Motors

      6. 6.2.6 Hyundai Motors Company

      7. 6.2.7 Mahindra and Mahindra

      8. 6.2.8 Nissan Motors Company

      9. 6.2.9 Toyota Motors Company

      10. 6.2.10 Kia Motors Corporation

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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