Mild hybrid vehicles market is anticipated to grow at a significant CAGR of 8.9% during the forecast period. One of the major factors that are fuelling the market growth is the increasing demand for no-emission or lesser emission vehicles in the market. Vehicles are one of the core factors behind global pollution by emitting harmful exhaust gases such as carbon, hydrocarbon, and others which are not only harmful to the environment but for humans as well. To reduce it, market players are innovating several vehicle models such as plug-in hybrid, mild hybrid, electric vehicle, and others. These vehicles have gained a lot of support from consumers, and governments across the globe. Market players have been launching a new product to increase the competition in the market, as the demand increases. For instance, in October 2021, General Motors launched the Buick GL8 classic for 2022 with 48V capacity mild-hybrid technology.
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The COVID-19 pandemic had impacted most of the industries across the globe owing to the nationwide lockdowns in several countries. The lockdown restricted most of the production as people’s movements were restricted to reduce the spread of the virus. This negatively impacted the overall vehicle industry including mild hybrid vehicles. As per Ford’s, which is one of the major market players of mild hybrid vehicles, annual report of 2020, the total sales dropped to 4,187,000 units, which was 5,386,000 units in 2019. However, as the situation got normal the sales increase of the vehicles exponentially. As per the Q1 2021 financial data of Ford, the revenue increased to $36,200 million, producing a net income of $3,300 million which was the best since 2011.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Mild Hybrid Vehicles Market by Capacity
- Less Than 48V
- 48V and Above
Global Mild Hybrid Vehicles Market by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- AB Volvo
- AUDI AG
- BMW AG
- FCA Italy S.p.A.
- General Motors
- Hyundai Motor Co.
- Kia Corp.
- Mercedes-Benz Group AG
- Mitsubishi Electric Corp.
- Volkswagen AG
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ 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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