Micro Electric Automotive (Micro EVs) Market Growing Massively by 2021-2027 Major Players: Byvin, Polaris, Lichi, Baoya, Tangjun, Yamaha, Fulu, Xinyuzhou, GreenWheel EV

Micro Electric Automotive (Micro EVs) Market 2021 report helps the clients to take business decisions and to understand strategies of major players in the industry. The report also calls for market- driven results deriving feasibility studies for client needs. Market Insights Reports ensures qualified and verifiable aspects of market data operating in the real- time scenario. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the real- time scenario.

The Micro Hybrid Vehicle Market is expected to register a CAGR of more than 10.5% during the forecast period, 2021-2027.

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Top Companies in the Global Micro Electric Automotive (Micro EVs) Market: Yogomo, Shifeng, Textron, Dojo, Byvin, Polaris, Lichi, Baoya, Tangjun, Yamaha, Fulu, Xinyuzhou, GreenWheel EV, Incalu, Kandi, Renault, APACHE, Garia, Zheren, Ingersoll Rand, CitEcar Electric Vehicles, Eagle, Taiqi and others.

Recent Developments:

In 2020, Kubota launches its V3307 Micro-Hybrid prototype in North America. The company’s micro-hybrid system contains an AC synchronous motor-generator, a DC/DC converter, and a 48V lithium-ion battery, along with the 55.4 kW V3307 diesel engine, which can provide electrical power boost of up to 10kW.

In February 2020, Honda Motor Company, Ltd. has announced to begin its sales of all new Honda Fit Hybrid vehicles. It is equipped with Honda’s 2-motor hybrid system which drives the vehicle with an electric motor, which results a better fuel efficiency and smooth drive.

Regional Insights:

Across the regions in Asia-Pacific, China holds a significant share in the hybrid vehicles market share owing to their highest vehicles sales. This can be attributed to their increasing population which is catering to the growth in vehicle sales and stringent government emission norms. For instance, The Chinese government is implementing China 6 norms for pollution control in the region which are stricter than previous China 5 norms and are based on EURO 6 norms, form July 2020, which results in supporting the demand of micro hybrid vehicles in this region.

Market Growth:

Currently, the lithium-ion battery segment is experiencing more demand and is projected to be the fastest growing battery type in the upcoming years mainly due to the increasing sales and demand for battery electric vehicles. However, electric vehicles are causing a restraint to the market but their increasing sale is driving the market. Also, the stringent emission standards, better fuel efficiency, and government incentives are few major factors driving this segment. Battery manufacturers are partnering with OEMs and this is in-turn increasing the vehicle sales as well.

Market Segmented by Types:

Lead-acid Battery EVs

Lithium-ion Battery EVs

Market Segmented by Applications:

Personal Use

Commercial Use

Public Utilities

Regional Analysis:

– North America (United States, Canada, Mexico)

–Europe (Germany, UK, France, Italy, Spain, Russia)

–Asia-Pacific (China, Japan, South Korea, Australia, India)

–South America (Brazil, Argentina, Columbia)

–The Middle East and Africa (UAE, Egypt, South Africa)

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Important Features that are under Offering and Key Highlights of the Reports:

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– Changing market dynamics of the industry

– In-depth market segmentation by Type, Application etc.

– Historical, current and projected market size in terms of volume and value

– Recent industry trends and developments

– Competitive landscape of Market

– Strategies of key players and product offerings

– Potential and niche segments/regions exhibiting promising growth

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