Global 48 Volt Battery System Market Segments 2024, Forecast To 2033
5 Mar, 2024
The 48-volt battery system market has experienced exponential growth, expanding from $3.45 billion in 2023 to $4.42 billion in 2024, with a CAGR of 28.1%. Growth drivers include fuel efficiency standards, advancements in power electronics, mass-market vehicle hybridization, consumer demand for fuel economy, and cost-effectiveness. Future exponential growth is anticipated, projecting the market size to reach $11.4 billion in 2028, with a CAGR of 26.7%. Key drivers include stricter emission standards, rising demand for electric features, continued automotive electrification, increased adoption in various vehicle types, and government initiatives for green mobility, accompanied by trends like integration in mild hybrid vehicles.
Global 48 Volt Battery System Market Key Driver
The 48 volt battery system market is driven by the rising adoption of electric vehicles (EVs). EVs, powered by electric motors and using 48 volt battery systems, offer faster charging times and increased energy efficiency. The International Energy Agency reports a doubling of EV sales in 2021 to 6.6 million units. As the adoption of electric vehicles continues to rise, so does the demand for 48 volt battery systems.
Get A Free Sample Of The Global 48 Volt Battery System Market ReportGlobal 48 Volt Battery System Market Segments
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)
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the 48 volt battery system market in 2023. The regions covered in the 48 volt battery system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major 48 Volt Battery System Industry Players
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 Amperex 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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AIOps 48 Volt Battery System Market Overview
A 48 volt battery system refers to a type of electrical power storage system that uses four batteries connected in series with a nominal voltage rating of 48 volts. They are used to raise power to components without increasing the current.
48 Volt Battery System Global Market Report 2023 provides data on the global 48 volt battery system market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The 48 volt battery system market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.