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With the growing adoption of electric vehicles, along with the current boom in the automotive sector, the Micro-Hybrid Vehicles Market Size is expected to flourish. Moreover, the advent of second-generation micro-hybrid systems for harvesting and energy generation is likely to have a positive impact on the growth of the global Micro-Hybrid Vehicles Market Size.
Segmental Analysis
By battery type, the Micro-Hybrid Vehicles Market Size is segmented into lithium-ion, lead-acid, and others. Of these, lead-acid battery is likely to attain the highest CAGR in the coming years as these batteries are rechargeable and require low maintenance. They are extensively used due to their ease of use and high-power density. Lead acid batteries are available in all sizes, shapes, voltages, and amperages, which further trigger their demand.
By capacity, the Micro-Hybrid Vehicles Market Size is segmented into 48V micro-hybrid capacity, 12V micro-hybrid capacity, and others.
Regional Frontiers
The growing demand for affordable micro-hybrid vehicles by the market players operating in the logistics industry, coupled with the increased launch of automobiles engineered with micro-hybrid technology are likely to trigger the demand from the Micro-Hybrid Vehicles Market Size across the globe.
North America is likely to gain prominence in the coming years, mainly due to the presence of prominent automobile manufacturers with micro-hybrid technology. The rising adoption of electric vehicles for commercial as well as personal purposes, coupled with the advancements made in the automotive technology are likely to dictate the growth trajectory of the market in the region.
Competitive Dashboard
The key players operating in the global Micro-Hybrid Vehicles Market Size include BMW AG (Germany), Audi AG (Germany), Subaru (Japan), Daimler AG (Germany), Kia Motors Corporation (South Korea), Hyundai Motor
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