Global Automotive 48V System Market Is Projected To Grow At A 25.1% Rate Through The Forecast Period

The Business Research Company’s Automotive 48V System Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ -- The automotive 48V system, operating at a voltage of 48 volts, is significantly more potent than the standard 12V systems found in most vehicles. This system's advanced voltage reduces resistive energy loss, enables higher currents, and provides faster and more efficient power supply, making it a crucial component in modern automotive design.

Exponential Growth Projected in Market Size
The automotive 48V system market has witnessed exponential growth in recent years and is poised for continued expansion. The market is expected to grow from $5.7 billion in 2023 to $7.27 billion in 2024, representing a compound annual growth rate (CAGR) of 27.5%. This growth is attributed to various factors, including stringent fuel efficiency regulations, increasing electrification demands, and the limitations of conventional 12V systems in meeting modern power requirements.

Continued Expansion Forecasted
The market is forecasted to continue its exponential growth, reaching $17.8 billion by 2028 at a CAGR of 25.1%. This growth will be driven by factors such as increasing consumer expectations, the transition to electric and hybrid vehicles, continued demand for fuel efficiency, and regulations focusing on noise reduction. Key trends in this period include the proliferation of 48V systems across vehicle segments, integration of advanced safety systems, and the development of more compact and customized components for regional markets.

Focus on CO2 Emission Reduction Driving Market Growth
One of the key drivers of the automotive 48V system market is the increasing focus on reducing CO2 emissions. These systems offer several benefits in this regard, including enabling mild hybridization, regenerative braking, and providing electric boosts during high-load situations. For example, an average passenger car produces 4.6 metric tons of CO2 annually, highlighting the need for emission reduction measures.

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Major Players and Product Innovation
Leading companies in the automotive 48V system market, such as Toyota Motor Corp., Ford Motors Company, and General Motors, are focusing on product innovation to enhance their market position. For instance, Peugeot recently launched a new 48V hybrid powertrain for the 3008 and 5008 models, reducing fuel consumption by 15% and enabling electric-only operation in congested areas.

Regional Insights
Asia-Pacific led the automotive 48V system market in 2023 and is expected to continue its dominance, with the fastest growth rate forecasted for this region.

Automotive 48V System Market Segments:
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

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Automotive 48V System Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Automotive 48V System Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive 48v system market size, automotive 48v system market drivers and trends, automotive 48v system market major players, competitors' revenues, market positioning, and market growth across geographies. The automotive 48v system market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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