NEW YORK, Jan. 17, 2023 /PRNewswire/ — The global mild hybrid vehicles market size is estimated to increase by 5,196.97 thousand units. The market’s growth momentum will accelerate at a CAGR of 31.04% between 2022 and 2027- request a sample report
Global mild hybrid vehicles market – Vendor analysis
Vendor offerings –
Technavio has announced its latest market research report titled Global Mild Hybrid Vehicles Market 2023-2027
Bayerische Motoren Werke AG – The company offers a mild hybrid vehicle named BMW 48 V Mild Hybrid Technology with auto and start-stop functions.
Ford Motor Co. – The company offers mild hybrid vehicles such as the Fiat FireFly series with 70hp 3-cylinder engine paired with a 3.6kW belt integrated starter generator electric system and 11 aH lithium battery.
General Motors Co – The company offers mild hybrid electric vehicles, namely Puma SUV, Fiesta, Focus, Kuga SUV, and mild hybrid vans.
Great Wall Motor Co. Ltd. – The company offers mild hybrid vehicles, with Orlando variants featuring 48V mild hybrid technology with Auto Start, Eboost, Smart Charge, Brake Energy Regeneration, and Eidle facilities.
For details on vendors and their offerings – Buy the report!
Vendor landscape –
The global mild hybrid vehicles market is concentrated. A few prominent vendors that offer mild hybrid vehicles in the market are Bayerische Motoren Werke AG, China FAW Group Co. Ltd., FCA Italy S.p.A., Ford Motor Co., General Motors Co, Great Wall Motor Co. Ltd., Honda Motor Co. Ltd, Hyundai Motor Group, Mahindra and Mahindra Ltd., Mercedes Benz Group AG, Renault SAS, Stellantis NV, Suzuki Motor Corp., Tata Sons Pvt. Ltd., Toyota Motor Corp., Volkswagen AG, Volvo Car Corp., BYD Electronic Co. Ltd., and Mitsubishi Corp. and others.
Vendors in the market compete on the basis of several factors, such as quality, price, service, brand image, distribution, and marketing. Major vendors are focusing on acquiring small brands to expand their market presence. The increasing competition among the vendors may lead to a decline in product prices, which can negatively impact profit margins and the growth of the market. Moreover, technological advances by one player in the market can render existing or future vendor products obsolete or uneconomical. The market revenue is expected to increase during the forecast period owing to the rising demand for mild hybrid technology.
Global mild hybrid vehicles market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
Key purchase criteria
Adoption rates
Adoption lifecycle
Drivers of price sensitivity
Global mild hybrid vehicles market – Segmentation assessment
Segment overview
Technavio has segmented the market based on type (passenger vehicle and commercial vehicle) and capacity (48V and above and less than 48V).
The passenger vehicles segment will grow at a significant rate during the forecast period. The passenger vehicles segment dominates the automotive industry, which is driving the growth of this segment. The implementation of stringent emission and fuel economy norms and government incentives that promote the purchase and adoption of mild hybrid vehicles are also driving the segment’s growth. Mild hybrid vehicles are more fuel-efficient than traditional passenger vehicles, as they use electricity from automotive batteries for start-stop functions or to attain cruising speeds. Hence, the segment is projected to grow rapidly throughout the forecast period.
Geography overview
Based on geography, the global mild hybrid vehicles market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global mild hybrid vehicles market.
APAC is estimated to account for 46% of the growth of the global market during the forecast period. China, India, South Korea, and Japan are leaders in automobile sales and manufacturing. Developments in infrastructure and industrialization have led to significant demand for electric vehicles (EVs) in APAC. The discretionary income of people has grown in APAC, as the economic conditions of nations such as China and Japan have improved. This, in turn, has increased automobile sales. Such factors will drive the market’s growth during the forecast period in APAC.
Global mild hybrid vehicles market – Market dynamics
Leading drivers – Stringent emission control regulations are driving the market growth. Concerns about environmental pollution have led to strict emissions regulations in the US and European countries. The US EPA has revised its vehicle emissions regulations. This is fueling the growth of the global mild hybrid vehicle market. Growing consumer awareness and strict emission regulations are compelling automotive OEMs to produce light hybrid and electric vehicles that emit fewer greenhouse gases than gasoline and diesel vehicles. These factors will drive the market’s growth during the forecast period.
Key trends – Recent developments are a key trend in the market. In 2021, General Motors launched its Buick GL8 Classic with a 48V mild hybrid powertrain in China. In 2020, Chevrolet launched five new Orlando variants in China, which feature 48V mild hybrid technology. As of 2021, Nissan was working on a mild-mild hybrid GT-R model, which would have a 48-volt mild-mild hybrid system. In 2021, Mercedes-Benz unveiled two models of diesel mild hybrids, namely GLE and GLE Coupe. Such developments will increase the demand for mild hybrid vehicles during the forecast period.
Major challenges – The rising demand for BEVs and FCEVs is challenging the market’s growth. The demand for battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs) is increasing. Automakers such as Tesla Inc. (USA), and Volkswagen AG (Germany) are focusing on the development of BEVs. In addition, governments are implementing measures and encouraging the use of fuel-cell vehicles in the transportation sector, which will increase the demand for fuel cells in the automotive and transportation industries. Such factors are expected to limit the growth of the market during the forecast period.
What are the key data covered in this mild hybrid vehicles market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the mild hybrid vehicles market between 2023 and 2027
Precise estimation of the size of the mild hybrid vehicles market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the mild hybrid vehicles market across APAC, North America, Europe, Middle East and Africa, and South America
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of mild hybrid vehicles market vendors
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Related Reports:
The hybrid electric vehicle market is estimated to grow at a CAGR of 30.88% between 2022 and 2027. The size of the market is forecasted to increase by 17,098.51 thousand units. This report extensively covers market segmentation by propulsion (full HEVs, mild HEVs, and PHEVs), vehicle type (passenger cars and commercial vehicles), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The hybrid vehicle market size is expected to grow by USD 722.82 billion from 2021 to 2026 at an accelerating CAGR of 26.37%. This report extensively covers segmentation by vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles) and geography (APAC, North America, Europe, Middle East and Africa, and South America)
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Mild Hybrid Vehicles Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 31.04% |
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Market growth 2023-2027 |
5,196.97 thousand units |
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Market structure |
Concentrated |
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YoY growth 2022-2023 (%) |
29.32 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 46% |
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Key countries |
US, China, Germany, France, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Bayerische Motoren Werke AG, China FAW Group Co. Ltd., FCA Italy S.p.A., Ford Motor Co., General Motors Co, Great Wall Motor Co. Ltd., Honda Motor Co. Ltd, Hyundai Motor Group, Mahindra and Mahindra Ltd., Mercedes Benz Group AG, Renault SAS, Stellantis NV, Suzuki Motor Corp., Tata Sons Pvt. Ltd., Toyota Motor Corp., Volkswagen AG, Volvo Car Corp., BYD Electronic Co. Ltd., and Mitsubishi Corp. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
Exhibit 06: Executive Summary – Chart on Market Segmentation by Capacity
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (thousand units)
Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (thousand units)
Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global mild hybrid vehicles market 2017 – 2021
Exhibit 18: Historic Market Size – Data Table on Global mild hybrid vehicles market 2017 – 2021 (thousand units)
4.2 Type Segment Analysis 2017 – 2021
Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 (thousand units)
4.3 Capacity Segment Analysis 2017 – 2021
Exhibit 20: Historic Market Size – Capacity Segment 2017 – 2021 (thousand units)
4.4 Geography Segment Analysis 2017 – 2021
Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (thousand units)
4.5 Country Segment Analysis 2017 – 2021
Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (thousand units)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Type
6.1 Market segments
Exhibit 30: Chart on Type – Market share 2022-2027 (%)
Exhibit 31: Data Table on Type – Market share 2022-2027 (%)
6.2 Comparison by Type
Exhibit 32: Chart on Comparison by Type
Exhibit 33: Data Table on Comparison by Type
6.3 Passenger vehicle – Market size and forecast 2022-2027
Exhibit 34: Chart on Passenger vehicle – Market size and forecast 2022-2027 (thousand units)
Exhibit 35: Data Table on Passenger vehicle – Market size and forecast 2022-2027 (thousand units)
Exhibit 36: Chart on Passenger vehicle – Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Passenger vehicle – Year-over-year growth 2022-2027 (%)
6.4 Commercial vehicle – Market size and forecast 2022-2027
Exhibit 38: Chart on Commercial vehicle – Market size and forecast 2022-2027 (thousand units)
Exhibit 39: Data Table on Commercial vehicle – Market size and forecast 2022-2027 (thousand units)
Exhibit 40: Chart on Commercial vehicle – Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Commercial vehicle – Year-over-year growth 2022-2027 (%)
6.5 Market opportunity by Type
Exhibit 42: Market opportunity by Type (thousand units)
7 Market Segmentation by Capacity
7.1 Market segments
Exhibit 43: Chart on Capacity – Market share 2022-2027 (%)
Exhibit 44: Data Table on Capacity – Market share 2022-2027 (%)
7.2 Comparison by Capacity
Exhibit 45: Chart on Comparison by Capacity
Exhibit 46: Data Table on Comparison by Capacity
7.3 48V and above – Market size and forecast 2022-2027
Exhibit 47: Chart on 48V and above – Market size and forecast 2022-2027 (thousand units)
Exhibit 48: Data Table on 48V and above – Market size and forecast 2022-2027 (thousand units)
Exhibit 49: Chart on 48V and above – Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on 48V and above – Year-over-year growth 2022-2027 (%)
7.4 Less than 48V – Market size and forecast 2022-2027
Exhibit 51: Chart on Less than 48V – Market size and forecast 2022-2027 (thousand units)
Exhibit 52: Data Table on Less than 48V – Market size and forecast 2022-2027 (thousand units)
Exhibit 53: Chart on Less than 48V – Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Less than 48V – Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Capacity
Exhibit 55: Market opportunity by Capacity (thousand units)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Exhibit 57: Chart on Market share by geography 2022-2027 (%)
Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 59: Chart on Geographic comparison
Exhibit 60: Data Table on Geographic comparison
9.3 APAC – Market size and forecast 2022-2027
Exhibit 61: Chart on APAC – Market size and forecast 2022-2027 (thousand units)
Exhibit 62: Data Table on APAC – Market size and forecast 2022-2027 (thousand units)
Exhibit 63: Chart on APAC – Year-over-year growth 2022-2027 (%)
Exhibit 64: Data Table on APAC – Year-over-year growth 2022-2027 (%)
9.4 North America – Market size and forecast 2022-2027
Exhibit 65: Chart on North America – Market size and forecast 2022-2027 (thousand units)
Exhibit 66: Data Table on North America – Market size and forecast 2022-2027 (thousand units)
Exhibit 67: Chart on North America – Year-over-year growth 2022-2027 (%)
Exhibit 68: Data Table on North America – Year-over-year growth 2022-2027 (%)
9.5 Europe – Market size and forecast 2022-2027
Exhibit 69: Chart on Europe – Market size and forecast 2022-2027 (thousand units)
Exhibit 70: Data Table on Europe – Market size and forecast 2022-2027 (thousand units)
Exhibit 71: Chart on Europe – Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on Europe – Year-over-year growth 2022-2027 (%)
9.6 Middle East and Africa – Market size and forecast 2022-2027
Exhibit 73: Chart on Middle East and Africa – Market size and forecast 2022-2027 (thousand units)
Exhibit 74: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (thousand units)
Exhibit 75: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
9.7 South America – Market size and forecast 2022-2027
Exhibit 77: Chart on South America – Market size and forecast 2022-2027 (thousand units)
Exhibit 78: Data Table on South America – Market size and forecast 2022-2027 (thousand units)
Exhibit 79: Chart on South America – Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on South America – Year-over-year growth 2022-2027 (%)
9.8 China – Market size and forecast 2022-2027
Exhibit 81: Chart on China – Market size and forecast 2022-2027 (thousand units)
Exhibit 82: Data Table on China – Market size and forecast 2022-2027 (thousand units)
Exhibit 83: Chart on China – Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on China – Year-over-year growth 2022-2027 (%)
9.9 US – Market size and forecast 2022-2027
Exhibit 85: Chart on US – Market size and forecast 2022-2027 (thousand units)
Exhibit 86: Data Table on US – Market size and forecast 2022-2027 (thousand units)
Exhibit 87: Chart on US – Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on US – Year-over-year growth 2022-2027 (%)
9.10 Germany – Market size and forecast 2022-2027
Exhibit 89: Chart on Germany – Market size and forecast 2022-2027 (thousand units)
Exhibit 90: Data Table on Germany – Market size and forecast 2022-2027 (thousand units)
Exhibit 91: Chart on Germany – Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on Germany – Year-over-year growth 2022-2027 (%)
9.11 France – Market size and forecast 2022-2027
Exhibit 93: Chart on France – Market size and forecast 2022-2027 (thousand units)
Exhibit 94: Data Table on France – Market size and forecast 2022-2027 (thousand units)
Exhibit 95: Chart on France – Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on France – Year-over-year growth 2022-2027 (%)
9.12 UK – Market size and forecast 2022-2027
Exhibit 97: Chart on UK – Market size and forecast 2022-2027 (thousand units)
Exhibit 98: Data Table on UK – Market size and forecast 2022-2027 (thousand units)
Exhibit 99: Chart on UK – Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on UK – Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 101: Market opportunity by geography (thousand units)
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 102: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 104: Overview on factors of disruption
11.4 Industry risks
Exhibit 105: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered
Exhibit 106: Vendors covered
12.2 Market positioning of vendors
Exhibit 107: Matrix on vendor position and classification
12.3 Bayerische Motoren Werke AG
Exhibit 108: Bayerische Motoren Werke AG – Overview
Exhibit 109: Bayerische Motoren Werke AG – Business segments
Exhibit 110: Bayerische Motoren Werke AG – Key news
Exhibit 111: Bayerische Motoren Werke AG – Key offerings
Exhibit 112: Bayerische Motoren Werke AG – Segment focus
12.4 FCA Italy S.p.A.
Exhibit 113: FCA Italy S.p.A. – Overview
Exhibit 114: FCA Italy S.p.A. – Key offerings
12.5 Ford Motor Co.
Exhibit 115: Ford Motor Co. – Overview
Exhibit 116: Ford Motor Co. – Business segments
Exhibit 117: Ford Motor Co. – Key news
Exhibit 118: Ford Motor Co. – Key offerings
Exhibit 119: Ford Motor Co. – Segment focus
12.6 General Motors Co
Exhibit 120: General Motors Co – Overview
Exhibit 121: General Motors Co – Business segments
Exhibit 122: General Motors Co – Key news
Exhibit 123: General Motors Co – Key offerings
Exhibit 124: General Motors Co – Segment focus
12.7 Great Wall Motor Co. Ltd.
Exhibit 125: Great Wall Motor Co. Ltd. – Overview
Exhibit 126: Great Wall Motor Co. Ltd. – Key offerings
12.8 Honda Motor Co. Ltd
Exhibit 127: Honda Motor Co. Ltd – Overview
Exhibit 128: Honda Motor Co. Ltd – Business segments
Exhibit 129: Honda Motor Co. Ltd – Key news
Exhibit 130: Honda Motor Co. Ltd – Key offerings
Exhibit 131: Honda Motor Co. Ltd – Segment focus
12.9 Hyundai Motor Group
Exhibit 132: Hyundai Motor Group – Overview
Exhibit 133: Hyundai Motor Group – Business segments
Exhibit 134: Hyundai Motor Group – Key offerings
Exhibit 135: Hyundai Motor Group – Segment focus
12.10 Mercedes Benz Group AG
Exhibit 136: Mercedes Benz Group AG – Overview
Exhibit 137: Mercedes Benz Group AG – Business segments
Exhibit 138: Mercedes Benz Group AG – Key offerings
Exhibit 139: Mercedes Benz Group AG – Segment focus
12.11 Mitsubishi Corp.
Exhibit 140: Mitsubishi Corp. – Overview
Exhibit 141: Mitsubishi Corp. – Business segments
Exhibit 142: Mitsubishi Corp. – Key news
Exhibit 143: Mitsubishi Corp. – Key offerings
Exhibit 144: Mitsubishi Corp. – Segment focus
12.12 Renault SAS
Exhibit 145: Renault SAS – Overview
Exhibit 146: Renault SAS – Product / Service
Exhibit 147: Renault SAS – Key news
Exhibit 148: Renault SAS – Key offerings
12.13 Suzuki Motor Corp.
Exhibit 149: Suzuki Motor Corp. – Overview
Exhibit 150: Suzuki Motor Corp. – Business segments
Exhibit 151: Suzuki Motor Corp. – Key offerings
Exhibit 152: Suzuki Motor Corp. – Segment focus
12.14 Tata Sons Pvt. Ltd.
Exhibit 153: Tata Sons Pvt. Ltd. – Overview
Exhibit 154: Tata Sons Pvt. Ltd. – Business segments
Exhibit 155: Tata Sons Pvt. Ltd. – Key offerings
Exhibit 156: Tata Sons Pvt. Ltd. – Segment focus
12.15 Toyota Motor Corp.
Exhibit 157: Toyota Motor Corp. – Overview
Exhibit 158: Toyota Motor Corp. – Business segments
Exhibit 159: Toyota Motor Corp. – Key news
Exhibit 160: Toyota Motor Corp. – Key offerings
Exhibit 161: Toyota Motor Corp. – Segment focus
12.16 Volkswagen AG
Exhibit 162: Volkswagen AG – Overview
Exhibit 163: Volkswagen AG – Business segments
Exhibit 164: Volkswagen AG – Key offerings
Exhibit 165: Volkswagen AG – Segment focus
12.17 Volvo Car Corp.
Exhibit 166: Volvo Car Corp. – Overview
Exhibit 167: Volvo Car Corp. – Business segments
Exhibit 168: Volvo Car Corp. – Key offerings
Exhibit 169: Volvo Car Corp. – Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 170: Inclusions checklist
Exhibit 171: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 172: Currency conversion rates for US$
13.4 Research methodology
Exhibit 173: Research methodology
Exhibit 174: Validation techniques employed for market sizing
Exhibit 175: Information sources
13.5 List of abbreviations
Exhibit 176: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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