The Automotive 48V System market was valued at USD 5.21 billion. The market is anticipated to experience substantial growth, with a compound annual growth rate (CAGR) of 24.2% from 2024 to 2030. By the end of the forecast period, the market is projected to reach nearly USD 23.75 billion.
Market Overview
The 48V system in automobiles is a relatively new innovation aimed at enhancing vehicle efficiency and reducing emissions. This system offers a middle ground between conventional 12V electrical systems and high-voltage hybrid systems, providing significant improvements in fuel efficiency and performance. The primary components of the 48V system include a battery, DC/DC converter, and electric motor, which work together to support functions such as start-stop systems, regenerative braking, and mild hybrid operation.
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Report Scope
This report covers an in-depth analysis of the global automotive 48V system market, providing insights into market dynamics, trends, and future outlook. It includes a comprehensive examination of the market's current state, growth drivers, challenges, and opportunities. The report also explores the competitive landscape, highlighting key players and their strategies.
Research Methodology
The research methodology adopted for this report includes both primary and secondary research. Primary research involved interviews with industry experts, key opinion leaders, and stakeholders. Secondary research included an extensive review of industry reports, publications, and data from reputable sources. Data triangulation and market breakdown procedures were employed to ensure the accuracy and reliability of the findings.
Drivers
Several factors are driving the growth of the automotive 48V system market:
Component: The market is segmented into battery, DC/DC converter, electric motor, and others. The battery segment is expected to hold the largest market share due to the increasing demand for advanced energy storage solutions.
Vehicle Type: Segmentation includes passenger cars, light commercial vehicles, and heavy commercial vehicles. Passenger cars dominate the market, driven by the high adoption rate of 48V systems in this segment.
Application: Applications of the 48V system include start-stop systems, regenerative braking, electric turbochargers, and power steering. The start-stop system segment is projected to grow significantly due to its widespread use in modern vehicles.
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Market Segmentation
by Architecture
Belt Driven
Crankshaft Mounted
input shaft of the transmission
Rear Axle
by Vehicle Class
Entry
Mid
Premium
Luxury
Regional Insights
North America: North America is expected to witness significant growth due to stringent emission regulations and increasing demand for fuel-efficient vehicles. The presence of major automotive manufacturers further supports market expansion.
Europe: Europe is a major market for automotive 48V systems, driven by rigorous emission standards and a strong focus on reducing greenhouse gas emissions. The region is home to several leading automakers who are early adopters of this technology.
Asia-Pacific: The Asia-Pacific region is anticipated to experience rapid growth, particularly in countries like China and Japan. The rising demand for hybrid vehicles and supportive government policies are key factors propelling market growth in this region.
Rest of the World: Other regions, including Latin America and the Middle East, are also expected to contribute to market growth, albeit at a slower pace compared to the major markets.
Automotive 48V System Market Key Players
1. Continental AG(Germany)
2. Robert Bosch GmbH - Germany
3. Schaeffler AG - Germany
4. MAHLE GmbH - Germany
5. ZF Friedrichshafen AG - Germany
6. Infineon Technologies AG - Germany
7. Eberspaecher Group GmbH & Co. KG - Germany
8. BorgWarner Inc. - United States
9. Lear Corporation - United States
10. Cummins Inc. - United States
11. Nexteer Automotive Group Limited - United States
12. Texas Instruments Incorporated - United States
13. Denso Corporation - Japan
14. Hitachi Automotive Systems, Ltd. - Japan
15. Mitsubishi Electric Corporation - Japan
16. Panasonic Corporation - Japan
17. Renesas Electronics Corporation - Japan
18. Toshiba Corporation - Japan
19. GKN plc - United Kingdom
20. Delphi Technologies - United Kingdom
21. Valeo SA - France
22. Magneti Marelli S.p.A. - Italy
23. Johnson Electric Holdings Limited - Hong Kong
24. Samsung SDI Co. Ltd. - South Korea
25. Aptiv PLC – Ireland
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Key questions answered in the Automotive 48V System Market are:
- What is Automotive 48V System?
- What are the factors driving the Automotive 48V System Market growth?
- What are the factors are limiting the Automotive 48V System Market growth?
- What was the Automotive 48V System market size in 2021?
- Which trends are expected to generate additional revenue for the Automotive 48V System market growth?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive 48V System Market?
- What growth strategies are the players considering to increase their foothold in the Automotive 48V System Market?
- Who held the largest market share in the Automotive 48V System Market?
Key Offerings:
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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