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Automotive 48V System Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Automotive 48V System Market
The Business Research Company offers in-depth market insights through Automotive 48V System Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive 48v system market size has grown exponentially in recent years. It will grow from $5.7 billion in 2023 to $7.27 billion in 2024 at a compound annual growth rate (CAGR) of 27.5%. The growth in the historic period can be attributed to fuel efficiency regulations, electrification demands, increasing power demands, conventional 12v system limitations, hybridization trends.
The automotive 48v system market size is expected to see exponential growth in the next few years. It will grow to $17.8 billion in 2028 at a compound annual growth rate (CAGR) of 25.1%. 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, 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, customization for regional markets.
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Market Segmentation:
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
Major Driver - Surge In Electric And Hybrid Vehicles Sparks Accelerated Growth In The Automotive 48V System Market
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 are 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.
Competitive Landscape:
Major companies operating in the automotive 48v system market report are 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.
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Top Trend - Peugeot Drives Innovation In The Automotive 48V System Market With The Launch Of 48V Hybrid Powertrain
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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive 48V System Market Characteristics
3. Automotive 48V System Market Trends And Strategies
4. Automotive 48V System Market - Macro Economic Scenario
5. Automotive 48V System Market Size And Growth
…..
27. Automotive 48V System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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