Lucintel Forecasts Mild Hybrid Vehicle Market to Reach $XX Billion by 2028

According to the recent study the mild hybrid vehicle market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 17% to 19% from 2023 to 2028. Growth in this market is primarily driven by increasing prices of fossil fuels, rigorous environmental rules, and credit and incentives provided by governments for hybrid cars.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in mild capacity type (48V, less than 48V, and above 48V), vehicle type (passenger vehicle, commercial vehicle, light commercial vehicle, heavy commercial vehicle, and others), battery type (lead acid, lithium-ion, and others), architecture (belt-integrated starter generator and crankshaft-integrated motor generator), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Lithium-ion market is expected to remain the largest segment during the forecast period.”

Based on battery type, the mild hybrid vehicle market is segmented into lead acid, lithium-ion, and others. Lucintel forecasts that the lithium-ion market is expected to remain the largest segment due to the increasing demand for electric automobiles as the lithium-ion batteries are high performance batteries that are used for mild hybrid automobiles. Also, they are easily rechargeable and environmentally safe.

“Within the mild hybrid vehicle market, the passenger vehicle segment is expected to remain the largest vehicle type”

Based on vehicle type the passenger vehicle segment is expected to witness the highest growth over the forecast period due to the growing population, increased use of lightweight materials in vehicles, as well as more fuel-efficient, it has greater power, and releases less pollution.

“Asia pacific will dominate the mild hybrid vehicle market in near future”

Asia Pacific will remain the largest region due to the highest vehicle sales in China, government subsidiaries for purchasing mild hybrid electric vehicle and increasing production, and demand for mild hybrid automobiles in the region.

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Major players of mild hybrid vehicle market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Toyota Motor Company, Honda Motor Company, BYD Company Ltd, Lexus, Ford Motor company, Kia Motors Company, Nissan Motor Company, Volkswagen AG, and AB Volvo are among the major mild hybrid vehicle providers. This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or [email protected]

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