Market Research Report
Asia-Pacific Mild-Hybrid Vehicles Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||946139|
|Published||Content info||80 Pages
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|Asia-Pacific Mild-Hybrid Vehicles Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 80 Pages||
The mild-hybrid vehicle market*in Asia-Pacific region anticipated to register a CAGR of more than 4 %, during the forecast period (2020 - 2025).
Increasing Pollutants Concentration in the Atmosphere will Drive Growth
China will be the Market Leader
Across the regions, China has been predominantly capturing the largest share in the market, owing to their highest vehicles sales. 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. This will support the demand of mild hybrid vehicles in the region. The sales of automobiles in the region is expected to be grow with a significant rate during the forecast period and the increasing gasoline prices insists end users to prefer vehicles which works on alternate fuel to increase the performance of the vehicle. Many automotive companies from China made plans to invest in the other Asia-Pacific market to take advantage of the strong demand for hybrid vehicles. For instance, Geely launched Azkarra in February 2020, Hyundai introduced new i20 which is a 48V mild hybrid vehicle claimed to help reduce fuel consumption by 3-4%.
The Asia-Pacific Mild Hybrid Vehicles market is fragmented, with many players accounting for significant amounts of shares in the market. Some of the prominent companies in the Asia-Pacific Mild Hybrid Vehicles market are Toyota Motor, Nissan Motor, Honda Motor, Hyundai Motor and others. Companies are investing heavily in research and development for the innovation of new and advanced products and technologies that may help for new technology.
In June 2019, Toyota launched Glanza in India which became the most affordable mild Hybrid car in the country. Companies are making new strategic partnerships, investing majorly in R&D projects and launching new products in the market for being ahead of their rivals. In May 2019, Toshiba announced that its lithium ion batteries have been adapted by mild hybrid systems of Nissan Motor Co's Dayz and Mitsubishi motors' eK mini vehicle.