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48 Volt Battery System Market Analysis, Size, Share, Trends, Future Growth, Forecast To 2033

02-27-2024 07:41 AM CET | Logistics & Transport

Press release from: The Business research company

48 Volt Battery System Market

48 Volt Battery System Market

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through 48 Volt Battery 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 48 volt battery system market size has grown exponentially in recent years. It will grow from $3.45 billion in 2023 to $4.42 billion in 2024 at a compound annual growth rate (CAGR) of 28.1%. The growth in the historic period can be attributed to fuel efficiency standards, advancements in power electronics, hybridization in mass market vehicles, consumer demand for fuel economy, cost-effectiveness.

The 48 volt battery system market size is expected to see exponential growth in the next few years. It will grow to $11.4 billion in 2028 at a compound annual growth rate (CAGR) of 26.7%. The growth in the forecast period can be attributed to stricter emission standards, rising demand for electric features, continued automotive electrification, ncreased adoption in various vehicle types, government initiatives for green mobility. Major trends in the forecast period include integration in mild hybrid vehicles, electrification of ancillary systems, support for advanced driver assistance systems , improvements in energy storage technologies, collaborations for standardization.

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Market Segmentation:
The 48 volt battery system market covered in this report is segmented -
1) By Component: Alternating Current(Ac) Or Direct Current(Dc) Inverter, 48-Volt Lithium-Ion Battery, Battery Controller, Power Distribution Box, Other Components
2) By Architecture: Crankshaft Mounted, Belt Driven, Transmission Output Shaft, Dual-Clutch Transmission-Mounted
3) By Electric Vehicle: Battery Electric Vehicle (BEV), Mild Hybrid Electric Vehicle (MHEV), Plug-In Hybrid Vehicle (PHEV), Hybrid Electric Vehicle (HEV)

Major Driver - Surging Adoption Of Electric Vehicles Fuels Growth In The 48 Volt Battery System Market
The rising adoption of electric vehicles (EV) is expected to propel the growth of the 48 volt battery system market going forward. 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, which may enhance energy efficiency and cut emissions even further. As a result, the rising adoption of electric vehicles increases the demand for the 48 volt battery system. For instance, in September 2022, according to the Global EV Outlook 2022 report shared by the International Energy Agency, a France-based autonomous intergovernmental organization, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million units sales. Additionally, the sales of electric cars worldwide in 2021 had a sales share of 4%. Therefore, the rising adoption of an electric vehicles is driving the 48 volt battery system market.

Competitive Landscape:
Major companies operating in the 48 volt battery system market report are Continental AG, Delphi Technologies, East Penn Manufacturing Company, Enersys Inc., GS Yuasa International Ltd., Hitachi Ltd., Johnson Controls International Plc, BorgWarner Inc., Robert Bosch GmbH, Valeo SA, A123 Systems LLC, Furukawa Electric Co. Ltd., Vicor Corporation, BYD Co. Ltd., ZF Friedrichshafen AG, Aptiv PLC, Panasonic Corporation, Toshiba Corporation, Tianjin Lishen Battery joint stock Co. Ltd., OptimumNano Energy Co. Ltd., Contemporary Ampere*x Technology Co. Ltd., Samsung SDI Co. Ltd., LG Energy Solution Ltd., SK Innovation Co. Ltd., Altra Industrial Motion, Curtis Weight Corporation, Rotork Plc., Honeywell Corporation, Sinopoly Battery Limited, Victron Energy B.V., Trojan Battery Company .

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https://www.thebusinessresearchcompany.com/report/48-volt-battery-system-global-market-report

Top Trend - High Power 48 Volt Battery System
Product innovations are a key trend gaining popularity in the 48 volt battery system market. 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.

The Table Of Content For The Market Report 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
…..
27. 48 Volt Battery 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. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.

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