DUBLIN--(BUSINESS WIRE)--The "North America Micro-Hybrid Vehicles Market - Forecasts and Trends (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The North America Micro-hybrid Market is expected to reach a market value of USD 17 million by the year 2023.
The most critical component of the micro-hybrid vehicle is the batteries. Original Equipment Manufacturer (OEMs) understand that high-performance batteries are required but they find it difficult to trade-off high-performance batteries with the cost of those batteries. OEMs are using enhanced flooded batteries for their light and medium micro-hybrid vehicles, primarily because of the cost considerations. The reason is that enhanced flooded batteries offer twice the lifetime energy than the traditional ones.
However, big automakers are upgrading the medium micro-hybrids to AGM batteries, which cost twice as much as the conventional ones but offer ten times the energy. AGM batteries are expected to be the best available technology for micro-hybrid vehicles currently, and they are expected to grow at a significant rate. Once a better solution in the form of AGM batteries is widely available and accepted, then the market is unlikely to shift towards the acceptance of any other battery types unless the incremental cost exceeds the value of the additional fuel savings.
The majority of the North American region's sales of micro-hybrid vehicles come from the US, primarily driven by the stringent emission regulations. Every new car and light-duty truck sold in the US is required to have a fuel economy label. The label, also called a window sticker, contains the miles-per-gallon estimates, which are designed to help consumers compare and shop for vehicles.
Key Developments in the Market
February 2017- The New Castle based subsidiary of Axion Power International has doubled its facility space and has added more than a dozen jobs to suit itself to build lead-carbon PBC batteries suited only for micro-hybrids vehicles in North America.
- Jaguar Land Rover
- Mahindra & Mahindra
- Autonacional S.A
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