How Has The Automotive 48V System Market Size Evolved In Recent Years?
The automotive 48v system market has seen considerable growth due to a variety of factors.
•In recent times, there has been an incredible growth in the market size of the automotive 48v system. It is projected to amplify from $7.18 billion in 2024 to $9.11 billion in 2025, reflecting a compound annual growth rate (CAGR) of 26.8%.
The historic period's growth is due to factors such as fuel efficiency rules, electrification needs, increasing power requirements, limitations of the conventional 12v system, and trends in hybridization.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Automotive 48V System Market?
The automotive 48v system market is expected to maintain its strong growth trajectory in upcoming years.
• The automotive 48v system industry is anticipated to witness substantial growth in the upcoming years. The market is projected to expand to $22.1 billion by 2029 at a compound annual growth rate (CAGR) of 24.8%.
Factors contributing to the growth during the predictive period include amplified consumer expectations, an increased shift towards electric and hybrid vehicles, consistent demand for fuel-efficient cars, the need for enhanced vehicle performance, and noise reduction regulations. The key trends anticipated in the predictive period encompass the increase in vehicle categories, the integration of sophisticated safety systems, continuous advancement of start-stop technology, the creation of smaller components, as well as customization for specific regional markets.
Which Key Drivers Are Propelling The Automotive 48V System Market's Growth?
An upsurge in the need for electric and hybrid cars is predicted to boost the expansion of the automotive 48V system market. With an electric motor that sources electrical power from a battery and is rechargeable from an external power source, electric cars have piqued consumers' interests. The superior power distribution of automotive 48V systems enhances the performance of engine accessories and other vehicle electronics without compromising fuel efficiency measures - making them an excellent fit for handling EV components. For example, the International Energy Agency, an independent intergovernmental organization of France, anticipates that over 10 million electric cars will be sold globally in 2022, an increase of 14% from the previous year. This surge elevates the total number of electric vehicles on the streets to 16.5 million. As a result, the escalating interest in electric and hybrid vehicles stimulates the progression of the automotive 48V system market.
What Are The Key Segments Within The Global 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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How Are New Trends Impacting The Size Of The Automotive 48V System Market?
A main trend emerging in the automotive 48V system market is product innovation. Major market players are concentrating on the creation of novel products to solidify their market standing. For instance, Peugeot, a car manufacturer from France under Stellantis, a Netherlands-based 48V systems and car parts producer, unveiled a new 48V hybrid powertrain for the models 3008 and 5008 in February 2023. Boasting a 136hp PureTech petrol engine combined with a six-speed dual-clutch electrified gearbox featuring an embedded electric motor, this hybrid 48V powertrain achieves a 15% reduction in fuel use. The hybrid system allows the car to start, maneuver and operate in pure electric mode at moderate speeds in congested zones.
Who Are the Key Players 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 are the Regional Insights into 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
