Global Automotive 48V System Market Research 2024, Forecast To 2033
8 Mar, 2024
The automotive 48v system market has witnessed exponential growth, surging from $5.7 billion in 2023 to $7.27 billion in 2024, at a remarkable CAGR of 27.5%. This growth is attributed to various factors such as fuel efficiency regulations and the transition to electric and hybrid vehicles. Looking ahead, the market is poised for continued exponential growth, reaching $17.8 billion in 2028, with a CAGR of 25.1%. Factors driving this growth include increasing consumer expectations, demand for enhanced vehicle performance, and regulations on noise reduction. Major trends in the forecast period include proliferation in vehicle segments and the integration of advanced safety systems.
Global Automotive 48V System Market Key Driver
The automotive 48V system market is set to grow due to the increasing demand for electric and hybrid vehicles, driven by the transition towards cleaner energy sources. Automotive 48V systems optimize power distribution for vehicle accessories and electronics, enabling efficient handling of electric vehicle components without compromising fuel-saving measures. The International Energy Agency reported a significant rise in electric vehicle sales worldwide, reaching over 10 million units in 2022. Consequently, the surging demand for electric and hybrid vehicles is expected to drive the automotive 48V system market.
Get A Free Sample Of The Global Automotive 48V System Market ReportGlobal Automotive 48V System Market Segments
The automotive 48v system market covered in this report is segmented –
1) Type:Mild-Hybrid Vehicles, Low-Power BEVs(Battery Electric Vehicles)
2) 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) Application:Entry-Level Vehicles, Mid-Premium Vehicles, Luxury Vehicles
By Geography: The countries covered in the automotive 48v system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the automotive 48V system market in 2023. The regions covered in the automotive 48v system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Automotive 48V System Industry Players
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.
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Automotive 48V System Market Overview
An automotive 48V system is an electrical system used in automotive vehicles that operates at a voltage value of 48 volts, which is more potent than the ordinary 12V electrical structures typically found in most vehicles. The 48V system reduces resistive energy loss, enables higher currents, and faster and more efficient power supply.