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48 Volt Battery System Market Outlook -Estimated Market Size And Growth Rate 2023-2032
48 Volt Battery System Market
The Business Research Company's 48 Volt Battery System Global Market Report 2023 identifies rising adoption of electric vehicles (EV) as the major driver for the 48 Volt Battery System market's growth in the forecast period. The electric vehicle refers to a vehicle powered by an electric motor that takes electricity from a battery and can be charged from an external source. A 48 volt battery system can deliver greater power and faster charging times than a traditional 12-volt system, allowing for faster acceleration and longer driving ranges for EVs.
The global 48 volt battery system market size is expected to grow from $2.72 billion in 2022 to $3.49 billion in 2023 at a compound annual growth rate (CAGR) of 28.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global 48 volt battery system market size is expected to grow to $9.01 billion in 2027 at a CAGR of 26.8%.
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Major competitors in the 48 Volt Battery System market are Continental AG, Delphi Technologies, East Penn Manufacturing Company, EnerSys, GS Yuasa Corporation, Hitachi Ltd., Johnson Controls International Plc.
A key trend in the 48 Volt Battery System market includes product innovations. Major companies operating in the 48 volt battery system market are focused on developing innovative solutions to strengthen their position in the market. For instance, in January 2022, American Battery Solutions Inc., a US-based industrial and commercial lithium-ion battery manufacturer launched the alliance I48-3.0 lithium-ion battery. This battery provides higher power, increased range, durability, and low maintenance for golf cars and other electric vehicles in an industry-standard GC2 size. This product's unique feature is its ability to withstand the rigors of high power with 350 Amp pulse and 120 Amp continuous discharge capabilities.
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The 48 Volt Battery System market is segmented -
• By Component: Alternating Current(Ac) Or Direct Current(Dc) Inverter, 48-Volt Lithium-Ion Battery, Battery Controller, Power Distribution Box, Other Components
• By Architecture: Crankshaft Mounted, Belt Driven, Transmission Output Shaft, Dual-Clutch Transmission-Mounted
• By Electric Vehicle: Battery Electric Vehicle (BEV), Mild Hybrid Electric Vehicle (MHEV), Plug-In Hybrid Vehicle (PHEV), Hybrid Electric Vehicle (HEV)
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the 48 Volt Battery System market.
The Business Research Company's "Global 48 Volt Battery System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The 48 Volt Battery System Market Include:
1. Executive Summary
2. 48 Volt Battery System Market Characteristics
3. 48 Volt Battery System Market Trends And Strategies
4. 48 Volt Battery System Market - Macro Economic Scenario
5. 48 Volt Battery System Market Size And Growth
……………………………………………………………………….
26. Africa 48 Volt Battery System Market
27. 48 Volt Battery System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The 48 Volt Battery System Market
29. 48 Volt Battery System Market Future Outlook and Potential Analysis
30. Appendix
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