The global mild hybrid vehicles market is anticipated to grow at a considerable CAGR of 8.9% during the forecast period (2022-2028). One of the major factors contributing to the growth of the market is the rise in the number of vehicles to provide a 48V battery pack system in mild hybrid vehicles. For Instance, in January 2020, Suzuki Corp. announced the development of a 48V mild-hybrid system for its best-selling car models such as Ciaz, Baleno, XL6, and Ertiga. Companies are adopting more and more 48V battery systems owing to fulfill the requirement of growing advanced features in the vehicles.
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These features require the voltage capacity to meet Safety Extra Low Voltage (SELV) requirement, and with the limited range of 48V’s of 30-60V, it can distribute power to vehicle’s components without causing unsafe SELV issues to resist power supply shut down and protects downstream circuitry from damage. It also increases fuel efficiency with lower CO2 emissions. With all the developments, companies are inclining more to the 48V battery system to stay in the competition which is also fueling the market. For instance, in August 2021, German carmaker Mercedes Benz launched its new refined model of C-Class with both, petrol, and diesel variants. All these are equipped with 48V mild-hybrid technology. Moreover, in March 2021, Hyundai, a South Korean vehicle manufacturer, also launched a new mild hybrid car. The car was named Bayon and comes with a 1-liter turbocharged petrol engine integrated with a 48V mild-hybrid technology.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Mild Hybrid Vehicles Market Report Segment
By Capacity
- Less Than 48V
- 48V and Above
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Global Mild Hybrid Vehicles Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.Key companies operating in the global mild hybrid vehicles market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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