Mild Hybrid Vehicles Market

Mild Hybrid Vehicles Market Size Survey Report – In a Glance

As per the survey report on global Mild Hybrid Vehicles market, the market is projected to foresee a CAGR of 17.2% between 2024-2033, and further generate a market size of USD 424.9 billion by the end of 2033. In the year 2024, the market size was valued at USD 125.4 billion.

• The global Mild Hybrid Vehicles market is projected to grow on account of the expansion of the automotive sector.
• In Japan, the Mild Hybrid Vehicles market growth can be attributed to driving comfort and efficiency.
• KDMI analyst’s growth analysis foresees high initial costs to challenge the market growth.
• Asia Pacific, having the highest market share in the Mild Hybrid Vehicles market, is projected to dominate the global market.

Mild Hybrid Vehicles Market Analysis

Analyst’s Observation on Mild Hybrid Vehicles Market Survey

A mild hybrid vehicle is a type of vehicle that combines a traditional internal combustion engine with a small electric motor to increase performance and improve fuel economy. It is an intermediate solution between an old-style internal combustion engine and a full hybrid. Expansion of the automotive sector is driving the market growth of Mild Hybrid Vehicles. Electrified vehicles, including mid-hybrid and hybrid models, exceeded a historic 20% share of all new car and truck sales in the United States in 2024. Toyota Motor Corporation, Nissan Motor Co. Ltd, and Honda Motor Company Ltd are some of the significant parties in the global market for Mild Hybrid Vehicles.

Analyst’s Observation on Japan Mild Hybrid Vehicles Market Survey

In Japan, the market growth for Mild Hybrid Vehicles can be attributed to driving comfort and efficiency. Mild hybrid vehicles provide a well-organized powertrain option that improves driving comfort and efficiency while decreasing engine load. These are conventional vehicles with engines that can be turned off while braking, coasting, or stopping, yet can restart cleanly and efficiently with a smooth driving experience. The automotive sector accounts for over 89% of Japan’s GDP, which sales huge numbers of mid hybrid vehicles yearly as Japan is the world’s third-largest automotive manufacturer. Lexus, Mitsubishi Motors Corporation, and Nissan Motor Co. Ltd. are some of the significant parties in the market for Mild Hybrid Vehicles in Japan.

Mild Hybrid Vehicles Market Growth Drivers and Challenges

Growth Drivers

Fuel efficiency and cost savings: Mild hybrid vehicles function with an electric motor and an ICE (internal combustion engine) to improve fuel effectiveness. Continuously rising fuel prices make the consumers change their fuel consumption or increase the budget for it. Mid hybrid vehicles reduce fuel consumption, this factor appeals to consumers looking to save on fuel costs over the long term. Additionally, some nations’ proposal offers incentives such as tax breaks or subsidies for buying mid-hybrid vehicles, further increasing their cost-effectiveness. Mild hybrid vehicles enhance fuel efficiency and reduce environmental impact, making them an engaging choice for gradual benefits without transitioning fully to electrification. Fuel efficiency and cost savings are boosting the growth of the mild hybrid vehicle market.

Technological Advancements in mild hybrid vehicles and batteries: Technological advancements in electronic control systems, powertrain electrification, and battery technology play a vital role in driving the Global Mild Hybrid Vehicles Market. The growth of highly efficient electric motors, advanced power electronics, and high-capacity lithium-ion batteries has enabled the cost-effective integration of mild hybrid structures into conventional internal combustion engine vehicles. The progress of advanced battery technologies, such as Li-ion batteries, has significantly improved the performance and efficiency of mild hybrid vehicles. Several new model launches incorporating advanced 48V systems offer enhanced power output and reduced carbon emission. Advancements in battery technologies and smart energy management system innovations collectively indicate a shift toward a more eco-conscious and technologically advanced era of mild hybrid vehicles.

Restraint Factors

High Initial Costs: The higher initial costs connected with mild hybrid technology compared to traditional internal combustion engine vehicles displays the huge amount of transformation. The insertion of a 48-volt electrical structural design, electric motor, and lithium-ion battery increases the production costs of mild hybrid vehicles, contributing a higher price quotation for consumers that hampers the market growth of mild hybrid vehicles.

Competition from Alternative Powertrains: Globally, the automotive sector is huge, and several automotive industries offer many alternative powertrain options, such as fully electric, plug-in hybrid, and hydrogen fuel cell vehicles. Competition from these alternative technologies diverts the consumer’s attention from mild hybrid vehicles. This is hampering the mild hybrid vehicles market growth.

Mild Hybrid Vehicles Market Segmentation

Our experts at KD Market Insights have segmented the global Mild Hybrid Vehicles market research report as:

Mild Hybrid Vehicles Market Regional Synopsis

Asia Pacific Having The Highest Market Share and growing with fastest CAGR in the Mild Hybrid Vehicles market. Mild Hybrid Vehicles market is majorly driven by improved fuel efficiency and reduced emissions. Mild hybrid technology plays a crucial role in fuel-saving features subsidize to a reduction in carbon dioxide (CO2) emissions which helps to reduce the air pollution. Countries such as China, Japan and India is driving the mild hybrid vehicles market growth by growing stringency of emission norms. Japan’s national government has announced plans to increase the percentage of mild hybrid, hybrid and EV vehicle sales. Meanwhile, the government in Tokyo is working to expand the network of public charging points from the current 30,000 to 150,000 by 2030.

In North America, the mild hybrid market is driving due to rising adoption and advancement of 48-volt electrical structural design. The transition to 48-volt systems allows for the integration of more powerful electric motors and higher-capacity lithium-ion batteries. In 2023, sales of all-electric vehicles including mild hybrid models and hybrid models reached 20% of new car and truck sales in the U.S.

In Europe, the rise of mild hybrid vehicles started in mid-2019 as more models came to market. It has increased from 0.8% of the UK car mild hybrid market to close to 20% in June 2021, surpassing other Electric Vehicle (EV) types in the market in a short space of time.

In Latin America, Brazil was the country recording the maximum electric vehicle sales in 2023, with an average of 93,900 mild hybrid and hybrid vehicles sold. In the Middle East and Africa region, mild hybrid car sales have surged in regional countries due to its eco-conscious and technologically advanced

As per our analysts at KD Market Insights, the following five players lead Asia Pacific having the highest market share in Mild Hybrid Vehicles market growth:

• Emgrand EV Pro
• Li Auto
• Geely
• Xpeng

Mild Hybrid Vehicles Market Competitive Landscape

Some of the key players who top the global Mild Hybrid Vehicles market share:

• Toyota Motor Corporation
• Nissan Motor Co. Ltd
• Honda Motor Company Ltd
• Hyundai Motor Company
• KIA Motors Corporation
• Suzuki Motor Corporation
• Daimler AG
• Volvo Group
• Volkswagen Group
• BMW AG

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Mild Hybrid Vehicles Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Capacity
      2. By Vehicle Type
      3. By Battery Type
      4. By Architecture Analysis
      5. By Region
5. Market Segmentation by Capacity
   1. Up To 12V
   2. 12V To 24V
   3. Others
6. Market Segmentation by Vehicle Type
   1. Passenger Cars
   2. Commercial Vehicles
   3. Others
7. Market Segmentation by Battery Type
   1. Lithium Ion
   2. Lead Acid
   3. Others
8. Market Segmentation by Architecture Analysis
   1. Belt-Integrated Starter Generator
   2. Crankshaft-Integrated Motor Generator
   3. Others
9. Regional Analysis
   1. North America
      1. United States
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      2. Canada
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      3. Mexico
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
   2. Europe
      1. United Kingdom
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      2. Germany
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      3. France
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      4. Italy
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      5. Spain
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      6. Rest of Europe
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
   3. Asia Pacific
      1. China
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      2. Japan
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      3. India
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      4. Australia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      5. South Korea
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      6. Rest of Asia Pacific
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
   4. Latin America
      1. Brazil
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      2. Argentina
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      3. Colombia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      4. Rest of Latin America
         1. Market Size and Forecast
         2. Key Trends and Developments
         3.               Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
   5. Middle East & Africa
      1. South Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      2. Saudi Arabia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      3. UAE
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
      4. Rest of Middle East & Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Capacity, Vehicle Type, Battery Type, and Architecture Analysis
10. Competitive Landscape
    1. Market Share Analysis
    2. Company Profiles
       1. All Company Names
          1. Toyota Motor Corporation
          2. Nissan Motor Co. Ltd
          3. Honda Motor Company Ltd
          4. Hyundai Motor Company
          5. KIA Motors Corporation
          6. Suzuki Motor Corporation
          7. Daimler AG
          8. Volvo Group
          9. Volkswagen Group
          10. BMW AG
       2.  
11. Strategic Recommendations
12. Appendix
    1. List of Tables
    2. List of Figures
13. References