Global mild hybrid vehicle market is estimated to be valued at US$ 107.72 Billion in 2024 and is expected to reach US$ 311.09 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 16.4% from 2024 to 2031.

Introduction

Global mild hybrid vehicle market has been witnessing growth in the recent years, owing to stricter emission norms and focus on fuel economy. Mild hybrid vehicles utilize mild-hybrid technology which helps to recover energy lost during braking and coasting that is stored in a lithium-ion battery and is used to provide an electric boost to the engine when needed. This boosts acceleration and improves fuel efficiency by around 10-15% as compared to non-hybrid vehicles. With growing environmental concerns and rising fuel prices, more consumers are inclined towards hybrid vehicles for their lower running costs and reduced emissions. Manufacturers are also focusing on mass production of affordable mild hybrid models to meet the increasing demand.

Market Dynamics

Global mild hybrid vehicle market growth is driven by various factors like stringent emission regulations promoting electrified vehicles, rising fuel prices incentivizing fuel efficient options, increasing R&D efforts by OEMs to develop affordable mild hybrid technologies and government incentives and tax rebates for hybrid electric vehicles. The high initial costs of mild hybrid systems as compared to conventional vehicles and lack of standardization of charging infrastructure are hindering the market growth. The market provides opportunities for expansion in commercial vehicle and passenger car segments as more affordable options emerge. Key players are focusing on developing 48V mild hybrid systems that provide larger boost capability at lower costs. Partnerships with automotive suppliers will accelerate mass-scale production and components integration.

Key features of the study

• This report provides in-depth analysis of the global mild hybrid vehicle market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global mild hybrid vehicle market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Ford Motor Company, General Motors Company, Great Wall Motors Co., Ltd., Honda Motor Co., Ltd., Hyundai Motor Company, Kia Corporation, Mahindra & Mahindra Limited, Mazda Motor Corporation, Mitsubishi Motors Corporation, Nissan Motor Co., Ltd., Renault Group S.A.S., Stellantis N.V., Subaru Corporation, Suzuki Motor Corporation, Toyota Motor Corporation, Volkswagen Group, Volvo Car Corporation
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global mild hybrid vehicle market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global mild hybrid vehicle market

Market Segmentation

• By Battery Capacity
  • Less than 48V
  • 48V and Above
• By Vehicle Type
  • Passenger Vehicle
  • Commercial Vehicle
• By Regional
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Players Insights

• Ford Motor Company
• General Motors Company
• Great Wall Motors Co., Ltd.
• Honda Motor Co., Ltd.
• Hyundai Motor Company
• Kia Corporation
• Mahindra & Mahindra Limited
• Mazda Motor Corporation
• Mitsubishi Motors Corporation
• Nissan Motor Co., Ltd.
• Renault Group S.A.S.
• Stellantis N.V.
• Subaru Corporation
• Suzuki Motor Corporation
• Toyota Motor Corporation
• Volkswagen Group
• Volvo Car Corporation