LONDON—Technavio analysts forecast the global micro hybrid vehicle market to reach 14.18 million units in 2019, growing at a CAGR of more than 18%, according to their latest report.

The research study covers the present scenario and growth prospects of the global micro hybrid vehicle market for 2015-2019. The report considers 2014 as the base year and provides sales data of micro hybrid vehicles. Micro hybrid vehicles are used in all the vehicle categories, thereby the scope of the report covers passenger cars, LCVs, and HCVs.

Technavio automotive analysts highlight the following three factors that are contributing to the growth of the global micro hybrid vehicle market:

  • Technological advancements
  • Stringent emission norms
  • Low operating and maintenance costs

Technological advancements

The micro hybrid technology has started to advance over the last 2-3 years. The second generation of micro hybrid vehicles are becoming quite common in Europe. While first generation micro hybrid technology relied on just a simple stop-start system for the engine, second generation micro hybrid systems incorporate features such as energy recuperation.

According to Siddharth Jaiswal, a lead research analyst at Technavio for automotive manufacturing, "The next generation of micro hybrid systems has also started emerging, with more advanced concepts such as shutting off the engine during coasting, not just when it stops, as well as some mild levels of boost from the batteries during acceleration."

These features would impose even greater loads, and require enhanced performance capabilities from the batteries that cannot be provided by the conventional lead-acid batteries. Thereby, advanced battery systems, unlike the conventional lead-acid batteries, are increasingly being used in the micro hybrid systems. The technological advancements in the field of micro hybrid vehicles would attract more consumers toward this form of hybrid vehicle, and would thereby help to drive the growth of the market.

Stringent emission norms

Stringent emission norms have been formulated by governments worldwide to minimize the negative effects of global warming and reduce the carbon footprint. For instance, the EC has targeted to reduce the average fleet emission of 187g CO2/km in 2011 to an average fleet emission of 175g CO2/km by 2017 and 147g CO2/km by 2020 for passenger cars and LCVs. The EU has also introduced the Euro VI norms in 2014, according to which nitrogen oxide emissions must be below 0.4g/KWh and particulate emissions must be below 0.01g/KWh.

"Japan, too, is in the process of introducing new emission norms that are similar to the Euro VI norms. Similarly, developing countries such as India and Russia are on the verge of applying the Euro IV and Euro V norms by the end of 2016. The key countries and regions that have implemented emission norms at present include the US, the EU, Japan, South Korea, India, China, and Canada," says Siddharth.

Technavio expects other countries such as Australia, Mexico, Russia, Turkey, and Brazil to implement emission standards in their respective countries during the forecast period. As more countries implement emission standards, OEMs across the globe are expected to explore new technologies that help in reducing emissions in automobiles.

Low operating and maintenance costs

A micro hybrid vehicle has many benefits as compared to other fuel-based vehicles. The operating costs of micro hybrids are also comparatively lower than the fuel-based vehicles. Micro hybridization has become one of the cheapest and easiest solutions for fuel-efficient passenger cars. The reason is primarily attributed to technologies such as the start-stop system and regenerative braking.

The use of regenerative braking systems in the micro hybrid vehicles ensures a long life for the vehicle's brake discs and pads as they do not wear out as quickly and need not be replaced as often. In addition, the electric drive systems of micro hybrid cars also have very low maintenance requirements as the micro hybrid versions do not require many complicated electrical devices.

Browse Related Reports:

  • Global Four Wheel Drive Vehicle Market 2015-2019
  • Global Commercial Vehicle Shifter Shaft Market 2015-2019
  • Low Emission Vehicle Market in the US 2015-2019

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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