Press release
Global 48 Volt Battery System Market: Impressive Growth Trajectory with An Expected Reach of $5.57 Billion in 2025
48 Volt Battery System Market Size
What Is The Projected Market Size Of The Global 48 Volt Battery System Market And Its Growth Rate?
Key insights into the rapidly growing global 48-volt battery system market include:
• The present market size grew from $4.37 billion in 2024 to an estimated $5.57 billion in 2025, with a compound annual growth rate (CAGR) of 27.5%.
• Continued growth to $14.25 billion is expected by 2029 with updated CAGR of 26.5%.
• Major factors contributing to historic and forecasted growth include fuel efficiency standards, advancements in power electronics, hybridization in mass-market vehicles, stricter emission standards, growing demand for electric features, increased automotive electrification, and government initiatives promoting green mobility.
What Is Driving The Growth In The 48 Volt Battery System Market?
The swift rise in the adoption of electric vehicles (EVs) is a major driver in the growth of the 48 volt battery system market. EVs, powered by an electric motor that sources its electricity from a battery, can be charged from an external source. The benefits of a 48 volt battery system in EVs include providing power more efficiently and enabling quicker charging times. Faster accelerations, longer driving ranges, and even further emission reductions are also achieved, making them more efficient.
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Who Are the Key Players Driving 48 Volt Battery System Market Growth?
Key players considerably influencing the growth of the 48 volt battery system market include:
• 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, and more.
What Are The Key Trends In The 48 Volt Battery System Market?
Key trends positively impacting the market include:
• Integration in mild hybrid vehicles
• The electrification of ancillary systems
• Support for advanced driver assistance systems
• Improvements in energy storage technologies
• Collaborations for standardization.
What Are The Segments Of The 48 Volt Battery System Market?
Critical segmentation of the market includes:
1) Component: Alternating Current (Ac) or Direct Current (Dc) Inverter, 48-Volt Lithium-Ion Battery, Battery Controller, Power Distribution Box, Other Components
2) Architecture: Crankshaft Mounted, Belt-Driven, Transmission Output Shaft, Dual-Clutch Transmission-Mounted
3) Electric Vehicle: Battery Electric Vehicle (BEV), Mild Hybrid Electric Vehicle (MHEV), Plug-In Hybrid Vehicle (PHEV), Hybrid Electric Vehicle (HEV)
Which Region Leads The 48 Volt Battery System Market?
Leading the 48 volt battery system market, the Asia-Pacific region held the top position in 2024. Other regions covered in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The 48 Volt Battery System Market Report?
Key elements highlighted and analyzed in the report include:
- Market Size Analysis: Analysis of market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identification and categorization of various sub-segments.
- Key Player In-depth study and data about key players, their market value, share, and competitive landscape.
- Growth Trends Analysis: Review of individual growth trends and future prospects.
- Market Contribution: Evaluation of each segment's contribution to overall market growth.
- Growth Drivers: Detailed examination of key factors driving market growth.
- Industry Challenges: Critical analysis of challenges and risks affecting the market.
- Competitive Developments: Study and assessment of competitive developments, such as expansions, agreements, and new product launches.
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