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Automotive 48V System Global Market Report 2024 - By Size, Demand, Report And Trends, Outlook By 2033
Automotive 48V System Market
As per the report, 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 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%.
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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.
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 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
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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.
Contents of the report:
1. Executive Summary
2. Automotive 48V System Market Report Structure
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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