Micro Hybrid Vehicles Market Size (2024 - 2029)

Micro-Hybrid Vehicles Market Analysis

The micro-hybrid vehicle market is expected to register a CAGR of more than 10 % during the forecast period.

• The COVID-19 pandemic benefited the hybrid vehicle (which includes micro-hybrid vehicles) market by crystallizing attitudes toward the environment by revealing cleaner air and lowering pollution levels during the lockdown. COVID-19 raised their environmental awareness, and their concerns are now reflected in plans to purchase more environmentally friendly electric and hybrid vehicles. Manufacturers plan to launch new models to attract customers, so the forecast period is expected to be optimistic.
• Over the long term, developing 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.
• With increasingly stringent emission standards worldwide, automakers are gradually shifting production away from conventional engine vehicles to hybrid and electric vehicles. Concerns about environmental protection and reducing greenhouse gas emissions, particularly carbon dioxide, will significantly drive market growth. However, the high cost of hybrid and electric vehicles and a need for charging infrastructure may slow market growth, as cost-conscious customers prefer conventional IC engine vehicles.
• Moreover, rising consumer vehicle sales in developing economies such as India and China present massive growth opportunities for the micro-hybrid vehicles market. In these countries, the growing population of people with high disposable incomes and a willingness to spend more on environmentally friendly automobiles is compelling car manufacturers to introduce micro-hybrid vehicles. In the coming years, hybrid technology is expected to account for a significant portion of total car sales in these countries.

Micro-Hybrid Vehicles Industry Segmentation

Mild hybrids, also known as micro hybrids, use a battery and an electric motor to help power the vehicle and allow the engine to shut off when the vehicle stops (for example, at traffic lights or in stop-and-go traffic), improving fuel economy even further.

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 (North America, Europe, Asia-Pacific, and Rest of the World). 

The report offers market size and forecasts for the automotive fuel filter market in value (USD billion) for all the above segments.