The Business Research Company’s report on the Automotive 48V System Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the automotive 48v system market in recent years?
The growing demand for electric and hybrid vehicles is expected to propel the growth of the automotive 48V system market going forward. An electric vehicle is an automobile driven by an electric engine that pulls electrical energy from a battery and can recharge from an outside power source. Automotive 48V systems provide more efficient power distribution, optimizing engine accessories and other electronics on the vehicle, thereby being capable of handling EV components without jeopardizing fuel-saving measures. For instance, in April 2023, according to the International Energy Agency, a France-based independent intergovernmental organization, more than 10 million electric vehicles will be sold worldwide in 2022, which was increased to 14% in 2022, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the growing demand for electric and hybrid vehicles drives the automotive 48V system market.
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What is the projected market size of the automotive 48v system industry, and how is it expected to grow?
The automotive 48v system market size has grown exponentially in recent years. It will grow from $7.18 billion in 2024 to $9.11 billion in 2025 at a compound annual growth rate (CAGR) of 26.8%. The growth in the historic period can be attributed to fuel efficiency regulations, electrification demands, increasing power demands, conventional 12v system limitations, and hybridization trends
The automotive 48v system market size is expected to see exponential growth in the next few years. It will grow to $22.1 billion in 2029 at a compound annual growth rate (CAGR) of 24.8%. The growth in the forecast period can be attributed to increasing consumer expectations, transition to electric and hybrid vehicles, continued demand for fuel efficiency, market demand for enhanced vehicle performance, and regulation on noise reduction. Major trends in the forecast period include proliferation in vehicle segments, integration of advanced safety systems, continued evolution of start-stop technology, development of more compact components, and customization for regional markets.
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Who are the key players driving competition in the automotive 48v system market?
Major companies operating in the automotive 48v system market include Toyota Motor Corp., Ford Motors Company, General Motors, Honda Motor Co. Ltd., Robert Bosch GmbH., Tesla, Nissan Motor Co.Ltd., Denso Corporation, LG Chem, Bayerische Motoren Werke AG, Continental AG,Magna International Inc., Mazda Motor Corp., Valeo SA, Lear Corporation, Mitsubishi Motors Corporation, Schaeffler AG,Hitachi Astemo Ltd., BorgWarner Inc., Dana Limited, Clarios, MAHLE GmbH, Delphi Technologies, Tata Motors, Eldor Corporation SpA, Aurora,A123 Systems, Trojan Battery Company, VARTA Storage GmbH, Hyundai Motor Company
What key trends are expected to drive the automobile remanufacturing market during the forecast period?
Product innovation is the key trend gaining popularity in the automotive 48V system market. Major companies operating in the automotive 48V system market are focused on developing innovative products to strengthen their position in the market. For instance, in February 2023, Peugeot, a France-based automobile brand of Stellantis, a Netherlands-based manufacturer of 48V systems and automobile components, launched a new 48V hybrid powertrain for the 3008 and 5008. This hybrid 48V powertrain includes a 136hp PureTech petrol engine with a 6-speed dual-clutch electrified gearbox with an integrated electric motor which helps reduce fuel consumption by 15%. The hybrid system enables the vehicle to start, maneuver, and drive in 100% electric mode at moderate speeds in congested areas.
Which key geographies are driving the growth of the automotive 48v system market?
Asia-Pacific was the largest region in the automotive 48V system market in 2024. The regions covered in the automotive 48v system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the key segments driving growth in the automotive 48v system market?
The automotive 48v system market covered in this report is segmented –
1) By Type: Mild-Hybrid Vehicles, Low-Power BEVs(Battery Electric Vehicles)
2) By Architecture: Belt Driven(P0),Crankshaft Mounted (P1),Dual-clutch transmission-mounted Or input shaft of transmission(P2/P3),Transmission output shaft Or rear axle (P4) Silicone
3) By Application: Entry-Level Vehicles, Mid-Premium Vehicles, Luxury Vehicles
Subsegments:
1) By Mild-Hybrid Vehicles: Gasoline Mild-Hybrid, Diesel Mild-hybrid
2) By Low-Power BEVs (Battery Electric Vehicles): Compact BEVs, Subcompact BEVs
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What defines the structure and scope of the automotive 48v system market?
An automotive 48V system is an electrical system used in automotive vehicles that operates at a voltage value of 48 volts, which is more potent than the ordinary 12V electrical structures typically found in most vehicles. The 48V system reduces resistive energy loss, enables higher currents, and faster and more efficient power supply.
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