Mild Hybrid Vehicles Market Updates

Q: What is the key market trend for Mild Hybrid Vehicles Market ?

Adoption of 48-Volt Electrical Architecture: The transition from 12V to 48V systems is becoming a defining trend in mild hybrid development. This shift allows for greater electric power output, enabling features such as electric turbochargers, start-stop systems, and enhanced regenerative braking. It also supports more powerful infotainment systems and air conditioning, increasing both vehicle performance and passenger comfort. Many automakers, including Audi, Mercedes-Benz, and Hyundai, have already rolled out 48V MHEVs in their lineups in 2024, signaling rapid industry adoption.

Mild Hybrid Vehicles Market News

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In May 2024, Renault and Geely officially established Horse Powertrain Limited, a joint venture focused on developing internal combustion engines and hybrid systems. This venture combines Renault's and Geely's powertrain operations, including subsidiaries like Aurobay, and is headquartered in London. In December 2024, Saudi Aramco joined the venture by acquiring a 10% stake, aiming to contribute its expertise in synthetic fuels and hydrogen technologies.

In September 2024, General Motors and Hyundai Motor Group entered into a strategic partnership to co-develop vehicles, engines, and clean energy technologies, including electric and hydrogen-powered systems. The collaboration aims to leverage both companies' strengths to reduce costs and accelerate the development of competitive vehicles. This partnership reflects a shared commitment to sustainable mobility solutions and addresses the challenges of the EV transition by focusing on cost efficiencies and shared technological development.

In October 2024, Suzuki and Toyota announced an expansion of their partnership to include the supply of a new battery electric SUV developed by Suzuki to Toyota. This model is scheduled for production at Suzuki Motor Gujarat in India starting in spring 2025. The collaboration leverages the strengths of Suzuki, Toyota, and Daihatsu in developing the BEV unit and platform, marking the first BEV in their OEM relationship. This move aims to provide a BEV option in the growing SUV market and contributes to both companies' efforts toward a carbon-neutral society.

FAQs

Global Mild Hybrid Vehicles Market size was valued at USD 100.11 Billion in 2023 and is poised to grow from USD 117.23 Billion in 2024 to USD 414.46 Billion by 2032, growing at a CAGR of 17.1% in the forecast period (2025-2032).

The competitive landscape of the global mild hybrid vehicles industry is shaped by a blend of established automotive giants and emerging startups pushing the boundaries of hybrid technology. Leading automakers such as Toyota Motor Corporation and Volkswagen AG continue to dominate with strong global portfolios of hybrid and mild hybrid offerings. In 2024, Toyota expanded its mild hybrid offerings with new 48V MHV systems in its Corolla and Yaris lineups, targeting fuel-conscious markets in Asia and Europe. Similarly, Volkswagen ramped up production of its Golf and Passat MHEVs, integrating mild hybrid tech with AI-based fuel management systems to boost efficiency. 'Toyota Motor Corporation', 'General Motors (GM)', 'Suzuki and Toyota ', 'Renault and Geely', 'Honda Motor Co., Ltd.', 'Ford Motor Company', 'BMW AG', 'Volkswagen Group', 'Mercedes-Benz Group', 'Hyundai Motor Company', 'Kia Corporation', 'Nissan Motor Co., Ltd.', 'Audi AG', 'Fiat Chrysler Automobiles (FCA)'

One of the strongest forces behind the rise in mild hybrid vehicles (MHVs) is the increasing global push toward reducing carbon emissions. Many governments across Europe, North America, and Asia have introduced stricter fuel economy standards and emission targets to meet environmental goals set by accords like the Paris Agreement. Mild hybrid systems help achieve these targets by using a small electric motor to assist the engine, reducing the workload on the internal combustion engine (ICE).

Adoption of 48-Volt Electrical Architecture: The transition from 12V to 48V systems is becoming a defining trend in mild hybrid development. This shift allows for greater electric power output, enabling features such as electric turbochargers, start-stop systems, and enhanced regenerative braking. It also supports more powerful infotainment systems and air conditioning, increasing both vehicle performance and passenger comfort. Many automakers, including Audi, Mercedes-Benz, and Hyundai, have already rolled out 48V MHEVs in their lineups in 2024, signaling rapid industry adoption.

What is Driving the Adoption of Mild Hybrid Vehicles in North America?In North America, especially the United States and Canada, the adoption of mild hybrid vehicles is driven by stricter emissions standards, increasing fuel prices, and rising consumer interest in eco-friendly technologies. Both countries have a well-developed automotive market, with consumers increasingly opting for fuel-efficient vehicles. Additionally, government incentives, rebates, and regulatory policies encouraging lower emissions have played a significant role in the adoption of mild hybrids.