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Automotive 48V System Market to Record 24.7% CAGR Growth Through 2029 | Global Analysis Report
Automotive 48V System
Automotive 48V System Market Outlook: How is the Market Expected to Grow by 2025?
The market size for the automotive 48v system has witnessed a substantial increase over the past few years. It is expected to rise from $7.1 billion in 2024 to $8.84 billion in 2025, with a compound annual growth rate (CAGR) of 24.5%. Factors contributing to the growth during the historic period include fuel efficiency regulations, demands for electrification, rising power needs, limitations of the conventional 12v system, and trends towards hybridization.
Automotive 48V System Market Forecast: What Size Will It Reach By 2029?
The market size for the automotive 48v system is anticipated to undergo massive expansion in the upcoming years, projecting a valuation of $21.36 billion by 2029 with a compound annual growth rate (CAGR) of 24.7%. This predicted growth during the forecast period can be owed to factors such as growing consumer expectations, the shift towards electric and hybrid vehicles, constant demand for fuel-efficient cars, increased demand for improved vehicle performance, and regulations regarding noise reduction. The forecast period will also see major trends like the growth in vehicle segments, incorporation of advanced safety systems, continuous progression of start-stop technology, the creation of more compact components, and localization for different regional markets.
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Which Key Market Drivers Will Shape Automotive 48V System Industry Trends in 2025-2029?
Advancements in electric and hybrid vehicle technology are set to stimulate the expansion of the automotive 48V system market. Electric automobiles are powered by motors that draw electricity stored in batteries and can also be recharged through external power sources. Automotive 48V systems enhance power distribution efficiency, optimize engine accessories, and manage other electronics in the vehicle, making them ideal for managing EV components without compromising fuel efficiency. For example, data from the International Energy Agency, an independent intergovernmental organization based in France, forecasts that over 10 million electric vehicles will be developed globally in 2022, a 14% rise from the previous year, bringing the total number of electric vehicles in operation to 16.5 million. Hence, the surging demand for electric and hybrid vehicles is fueling the growth of the automotive 48V system market.
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What Are the High-Growth Segments in the Automotive 48V System Market?
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
Subsegments:
1) By Mild-Hybrid Vehicles: Gasoline Mild-Hybrid, Diesel Mild-hybrid
2) By Low-Power BEVs (Battery Electric Vehicles): Compact BEVs, Subcompact BEVs
Which Global Trends Are Driving Automotive 48V System Market Expansion?
In the automotive 48V system market, the key trend emerging is product innovation. To solidify their market standing, major firms in the automotive 48V system industry are focusing on the development of novel products. As an example, in February 2023, Peugeot, an automobile brand from France under the Stellantis umbrella, a Netherlands-based 48V system and automobile component manufacturer, introduced a new 48V hybrid powertrain for their 3008 and 5008 models. This new hybrid 48V powertrain comprises a 136hp PureTech petrol engine fused with a 6-speed dual-clutch electrified gearbox, housing an integrated electric motor to decrease fuel consumption by 15%. This hybrid system allows the vehicle to initiate, steer, and operate in 100% electric mode at moderate velocities in high-traffic regions.
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Who Are the Fastest-Growing Companies in the Automotive 48V System Industry?
Major companies operating in the automotive 48v system market include 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
What Is the Regional Outlook for the Automotive 48V System Market by 2029?
Asia-Pacific was the largest region in the automotive 48V system market in 2024. The regions covered in the automotive 48v system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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