Automotive 48V System Market Size Hit Around US$ 22.3 Bn by 2027

 The global Automotive 48V System Market Size hit around US$ 22.3 Bn by 2027 and growing at a noteworthy CAGR of 26.3% throughout the forecast period 2020 to 2027.

Precedence Research, Recently Published Report on “ Automotive 48V System Market Size, Share, Growth, Trends, Segment Forecasts, Regional Outlook 2020 - 2027”. The report offers an up-to-date analysis regarding the current market scenario, latest trends, key drivers, potential challenges, profitability graph and the overall market environment.

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.

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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.

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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

This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of vehicle class, architecture, and region:

By Vehicle Class

• Premium
• Mid
• Entry
• Luxury

By Architecture

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

By Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Rest of the World

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