The global automotive 48V system market size reached US$ 7.1 Billion in 2023. Looking forward, the market is projected to reach US$ 38.3 Billion by 2032, exhibiting a growth rate (CAGR) of 20.59% during 2023-2032. The escalating demand for hybrid and electric vehicles (EVs), along with luxury and advanced safety features and stringent government regulations to reduce greenhouse gas (GHG) emissions, represent some of the key factors driving the market.
The automotive 48V system is an advanced technology that integrates a 48-volt battery with an internal combustion (IC) engine and a regular 12-volt battery in multiple configurations. It includes various components, such as a belt alternator starter, direct current (DC)-to-DC converter, high voltage battery, inverter, power distribution box, electric motor, and charger.
The automotive 48V system is widely used to provide start-stop function, torque boost, regenerative braking, and power to the electric drive, compressors, and power steering. It aids in optimizing performance, reducing weight, and improving the harness packaging in the vehicle. The automotive 48V system helps to reduce carbon dioxide emissions, improve fuel efficiency, and enable dynamic handling and performance.
Furthermore, rising product application to power luxury and advanced safety features in vehicles, such as heated seats, windows demister, infotainment systems, reverse cameras, blind-spot monitoring, road condition sensors, motion detectors, and adaptive cruise control, is providing an impetus to the market growth. Additionally, the widespread product utilization for the development of autonomous vehicles to power energy-intensive components, such as computers, cameras, and various sensors, is positively influencing the market growth. Moreover, the implementation of various government initiatives to promote the adoption of EVs and subsequently reduce greenhouse gas emissions is favoring the market growth.
Other factors, including rising expenditure capacities of consumers, increasing environmental concerns, significant investment in research and development (R&D) activities, the escalating demand for fuel-efficient vehicles, and increasing awareness among consumers regarding various product benefits, such as lower cost, higher performance, and improved vehicle speed, are anticipated to drive the market growth.
2. What is the expected growth rate of the global automotive 48V system market during 2024-2032?
3. What are the key factors driving the global automotive 48V system market?
4. What has been the impact of COVID-19 on the global automotive 48V system market?
5. What is the breakup of the global automotive 48V system market based on the architecture?
6. What is the breakup of the global automotive 48V system market based on vehicle class?
7. What are the key regions in the global automotive 48V system market?
8. Who are the key players/companies in the global automotive 48V system market?
The automotive 48V system is an advanced technology that integrates a 48-volt battery with an internal combustion (IC) engine and a regular 12-volt battery in multiple configurations. It includes various components, such as a belt alternator starter, direct current (DC)-to-DC converter, high voltage battery, inverter, power distribution box, electric motor, and charger.
The automotive 48V system is widely used to provide start-stop function, torque boost, regenerative braking, and power to the electric drive, compressors, and power steering. It aids in optimizing performance, reducing weight, and improving the harness packaging in the vehicle. The automotive 48V system helps to reduce carbon dioxide emissions, improve fuel efficiency, and enable dynamic handling and performance.
Automotive 48V System Market Trends
The escalating demand for electric and hybrid vehicles is one of the primary factors driving the market growth. An automotive 48V system is widely used in electric vehicles (EVs) to power various electrical components, such as lighting systems, electrical heaters, air conditioning compressors, pumps, and steering drives. In addition to this, the widespread product adoption to provide mild-hybrid functionality to vehicles by powering auxiliary systems, which, in turn, improves the thermal performance of the engine, reduces emissions, enhances fuel efficiency, and saves cost, is acting as another growth-inducing factor.Furthermore, rising product application to power luxury and advanced safety features in vehicles, such as heated seats, windows demister, infotainment systems, reverse cameras, blind-spot monitoring, road condition sensors, motion detectors, and adaptive cruise control, is providing an impetus to the market growth. Additionally, the widespread product utilization for the development of autonomous vehicles to power energy-intensive components, such as computers, cameras, and various sensors, is positively influencing the market growth. Moreover, the implementation of various government initiatives to promote the adoption of EVs and subsequently reduce greenhouse gas emissions is favoring the market growth.
Other factors, including rising expenditure capacities of consumers, increasing environmental concerns, significant investment in research and development (R&D) activities, the escalating demand for fuel-efficient vehicles, and increasing awareness among consumers regarding various product benefits, such as lower cost, higher performance, and improved vehicle speed, are anticipated to drive the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global automotive 48V system market, along with forecasts at the global, regional, and country level from 2024-2032. The report has categorized the market based on architecture and vehicle class.Architecture Insights:
- Belt Driven (P0)
- Crankshaft Mounted (P1)
- Dual-Clutch Transmission-Mounted/Input Shaft of Transmission (P2/P3)
- Transmission Output Shaft/Rear Axle (P4)
Vehicle Class Insights:
- Entry-level
- Mid-range
- Premium
- Luxury
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global automotive 48V system market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Borgwarner Inc., Continental Aktiengesellschaft, Dana Limited, Hyundai Motor Company, Magna International Inc., MAHLE GmbH (Mahle Stiftung GmbH), Mitsubishi Electric Corporation, Robert Bosch GmbH, Valeo, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. How big is the global automotive 48V system market?2. What is the expected growth rate of the global automotive 48V system market during 2024-2032?
3. What are the key factors driving the global automotive 48V system market?
4. What has been the impact of COVID-19 on the global automotive 48V system market?
5. What is the breakup of the global automotive 48V system market based on the architecture?
6. What is the breakup of the global automotive 48V system market based on vehicle class?
7. What are the key regions in the global automotive 48V system market?
8. Who are the key players/companies in the global automotive 48V system market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Automotive 48V System Market
6 Market Breakup by Architecture
7 Market Breakup by Vehicle Class
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Borgwarner Inc.
- Continental Aktiengesellschaft
- Dana Limited
- Hyundai Motor Company
- Magna International Inc.
- MAHLE GmbH (Mahle Stiftung GmbH)
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Valeo
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 7.1 Billion |
| Forecasted Market Value ( USD | $ 38.3 Billion |
| Compound Annual Growth Rate | 20.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
