IMARC Group, a leading market research company, has recently releases report titled “Automotive 48V System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” offers a comprehensive analysis of the industry, which comprises insights on the automotive 48V system market trends. The global market size reached US$ 7.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 38.3 Billion by 2032, exhibiting a growth rate (CAGR) of 19.95% during 2024-2032.

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Factors Affecting the Growth of the Automotive 48V System Industry:

  • Stricter Emission Regulations Globally:

The implementation of stricter emission regulations is impelling the growth of the market. Governments and regulatory bodies are increasingly imposing stringent standards for vehicle emissions to combat climate change and reduce the environmental impact of fossil fuels. These regulations necessitate technological advancements in the automotive sector, where 48V mild hybrid systems emerge as an effective solution. By enabling features, such as start-stop, regenerative braking, and electric boost, 48V systems significantly reduce fuel consumption and vehicular emissions compared to traditional vehicles. This shift not only helps manufacturers meet environmental standards but also caters to the growing demand for more sustainable and fuel-efficient vehicles.

  • Demand for Fuel Efficiency and Enhanced Performance:

The increasing demand for fuel efficiency, alongside enhanced vehicle performance, is supporting the market growth. People are becoming more conscious of fuel costs and environmental impact, driving the demand for vehicles that offer better fuel economy without compromising on performance. The 48V mild hybrid technology addresses this need by providing an electric boost during acceleration, reducing the load on the internal combustion engine and thereby improving fuel efficiency. Moreover, these systems support advanced features like idle-stop, regenerative braking, and seamless integration of electric power with conventional powertrains.

  • Advancements in Electrical and Electronic Architectures:

Technological advancements in electrical and electronic architecture within vehicles are propelling the market growth. Modern vehicles are increasingly equipped with sophisticated electronic systems for safety, comfort, connectivity, and drive assistance, necessitating more robust and efficient power supply systems. The 48V electrical architecture is well-suited to support the high power demands of these advanced features, providing a stable and scalable power supply that enhances vehicle functionality and reliability. This compatibility is essential as the automotive industry is shifting towards more interconnected and autonomous vehicles, requiring seamless integration of various electronic systems. The 48V system not only facilitates the efficient operation of high-power applications but also opens avenues for future innovations in vehicle electrification and smart mobility solutions.

Leading Companies Operating in the Global Automotive 48V System Industry:

  • Borgwarner Inc.
  • Continental Aktiengesellschaft
  • Dana Limited
  • Hyundai Motor Company
  • Magna International Inc.
  • MAHLE GmbH (Mahle Stiftung GmbH)
  • Mitsubishi Electric Corporation
  • Robert Bosch GmbH
  • Valeo

Automotive 48V System Market Report Segmentation:

By Architecture:

  • Belt Driven (P0)
  • Crankshaft Mounted (P1)
  • Dual-Clutch Transmission-Mounted/Input Shaft of Transmission (P2/P3)
  • Transmission Output Shaft/Rear Axle (P4)

Belt driven (P0) represents the leading segment as it offers improved fuel efficiency and reduced emissions.

By Vehicle Class:

  • Entry-level
  • Mid-range
  • Premium
  • Luxury

Mid-range accounts for the majority of the market share due to its demand for enhanced engine performance and drivability.

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

Asia Pacific's dominance in the automotive 48v system market is attributed to the increasing purchase of passenger vehicles among the masses.

Global Automotive 48V System Market Trends:

The rapid integration of advanced driver assistance systems (ADAS) into modern vehicles is bolstering the market growth. ADAS technologies, such as adaptive cruise control, lane-keeping assistance, and automated emergency braking, require significant electrical power and processing capabilities. The 48V electrical system provides the necessary power in a more efficient manner compared to traditional 12V systems, facilitating the operation of these power-intensive features without compromising vehicle performance or fuel efficiency. This higher voltage platform enables automotive manufacturers to equip vehicles with a broader array of safety and convenience features, thereby enhancing the value proposition for consumers. As safety standards are becoming more rigorous and people are increasingly prioritizing vehicles equipped with advanced safety features, the demand for 48V systems is growing.

Other Key Points Covered in the Report:

  • Porters Five Forces Analysis
  • Value Chain Analysis
  • Strategic Recommendations

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