Automotive 48V System Market Size Valuation To Exceed US$ 22.3 Bn by 2027

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Precedence Research’s latest report on the global automotive 48V system market provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period.

The global automotive 48V system market size valuation is projected to reach US$ 22.3 Billion by 2027, rising at a market growth (CAGR) of 26.3% during the forecast period.

Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for automotive 48V system market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.

The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.

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Automotive 48V system refers to a hybrid system in which the voltage of the entire system in the micro-hybrid vehicle does not exceed the 60-volt. The 48V system offers a base for an integrated platform for further advanced energy-saving technologies to attain energy-saving effects. The power capacity of a 48V system has increased to about 15kw compared to traditional vehicles that can provide more incorporation of emission reduction technology. In addition, with the implementation of 48V technology fuel saving capacity of a vehicle has improved by 10-15%.

48V system can offer more functional integration that includes an automatic start-stop system, energy recovery system, and many more to satisfy the increasing demand of people. At the same time, the lithium battery used in the 48V system has better charging & discharging performance along with better application effect of start-stop system.

Growth Factors

Low cost of 48V technology that makes them a cost-effective solution for automotive Original Equipment Manufacturers (OEMs) expected to surge the demand of 48V system across the globe. This has broadened the scope for 48V technology in low-powered BEVs and mild hybrids. An electrical system forms crucial parts of these vehicles, as well as low cost associated to the 48V systems allow OEMs to cut the upfront costs of their vehicle. Consequently, the low-cost feature of automotive 48V technology expected to boost their demand across the world over the analysis period, especially through 48V mild hybrids.

In addition, to achieve the emission standards, OEMs are highly focused towards the implementation of lightweight designs, electronic units, and electrification of powertrains in the new vehicle models. Moreover, rising demand for increased safety & comfort that include power steering, heated seats, and Advanced Driver Assistance Systems (ADAS) among consumers have triggered the adoption of electronic units that subsequently increases pressure on the vehicle’s battery system. This has prompted OEMS to develop a dual voltage architecture that includes 48V supply as well as satisfy the increased power demand for components in the vehicle. The aforementioned factors have boosted the market growth for 48V technology.

Report Highlights

  • The Asia Pacific emerged as the global leader in 2019 owing to significant consumer base along with increasing penetration of battery-powered vehicles in the region
  • Europe and North America are following the Asia Pacific in terms of market growth owing to government support and well-developed transport infrastructure in the regions
  • In 2019, mid-sized vehicle segment captured the maximum value share attributed to the increasing preference for vehicles with improved fuel economy as well as increasing awareness among the people for battery-driven cars
  • By architecture, belt driven segment occupied the major revenue share of nearly 40% in 2019 and expected to witness prominent growth of around 24% over the forecast period

Regional Snapshots

The Asia Pacific is the front-runner in the global automotive 48V technology market, followed by North America and Europe. The significant growth of the region is mainly attributed to the increasing investment from government for the development of supportive transport infrastructure for electric & hybrid vehicles. Furthermore, rising inclination of consumers towards more convenience and safety system again contributes for the positive market growth of 48V technology in the region. Apart from this, several governments in the Asian countries have started green revolution in order to protect environment and improve the air quality by curbing the emission rate, this expected to propel the implementation of 48V technology in the region.

North America and Europe are the other most prominent revenue contributors after the Asia Pacific. High disposable income and advanced infrastructure supporting next-generation vehicles are the key factors propelling the market growth in the regions. Furthermore, government support for the adoption of electric and hybrid vehicles again fuels the growth of the market.

Key Players & Strategies

The global automotive 48V system market witnesses intense competition among the market players. The market involves major automotive manufacturers those are significantly working on the improvement of battery technology of the electric vehicle. Major cost of the electric vehicle is attributed to the battery technology used in the vehicle. Thus, industry participants have developed 48V technology to meet the necessary standards of vehicle emission without triggering the cost of the vehicle. However, the development in the 48V technology is not stopped here market players are still investing prominently to cater the increasing need of consumers.

Some of the key players operating in the market are Robert Bosch GmbH, BorgWarner Inc., Dana Limited, CONTINENTAL AG, MAHLE Powertrain Ltd, GKN (Melrose Industries PLC), Delphi Technologies, Magna International Inc., Lear Corporation, and Valeo SA among others.

Segments Covered in the Report:

Market Segment

By Vehicle Class

  • Premium
  • Mid
  • Entry
  • Luxury

By Architecture

  • Crankshaft Mounted
  • Belt Driven
  • Transmission Output Shaft
  • Dual-Clutch Transmission-Mounted

Regional Segment

  • North America (United States, Canada)
  • Europe (Germany, France, UK,  Italy, Russia, and Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
  • Latin America (Brazil and the Rest of Latin America)
  • The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)

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