Overview and Scope
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.
Sizing and Forecast
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 growth in the historic period can be attributed to fuel efficiency regulations, electrification demands, increasing power demands, conventional 12v system limitations, hybridization trends.
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%. The growth in the forecast period can be attributed to increasing consumer expectations, transition to electric and hybrid vehicles, continued demand for fuel efficiency, market demand for enhanced vehicle performance, regulation on noise reduction. Major trends in the forecast period include proliferation in vehicle segments, integration of advanced safety systems, continued evolution of start-stop technology, development of more compact components, customization for regional markets.
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Segmentation & Regional Insights
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
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
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The automotive 48v system market report table of contents includes:
1. Executive Summary
2. Automotive 48V System Market Characteristics
3. Automotive 48V System Market Trends And Strategies
4. Automotive 48V System Market – Macro Economic Scenario
5. Global Automotive 48V System Market Size and Growth
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32. Global Automotive 48V System Market Competitive Benchmarking
33. Global Automotive 48V System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive 48V System Market
35. Automotive 48V System Market Future Outlook and Potential Analysis
36. Appendix
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