Growth Accelerated By Introduction Of Fuel-Efficient Vehicles
Mild Hybrid Vehicle Market Mild hybrid vehicles offer superior fuel efficiency and lower emissions compared to conventional internal combustion engine vehicles. Mild hybrid vehicles use a small electric motor to assist the gasoline engine, allowing for improved acceleration and braking regeneration. The global Mild Hybrid Vehicle Market is estimated to be valued at US$ 99.97 Bn in 2023 and is expected to exhibit a CAGR of 18.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Introduction of fuel-efficient vehicles has accelerated the growth of the mild hybrid vehicle market. Stringent emission norms by regulatory bodies worldwide have increased the demand for fuel-efficient vehicles. Mild hybrid vehicles are more efficient and affordable compared to plug-in hybrid and battery electric vehicles. They improve fuel economy by 10-15% through brake energy regeneration and engine stop-start functiona...