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The global automotive 48V system market is gearing up for an electrifying journey, with expectations of surging from $4.47 billion in 2022 to $5.7 billion in 2023, translating to an electrifying compound annual growth rate (CAGR) of 27.6%. And this is just the beginning! By 2027, the market is poised to hit $14.34 billion, maintaining a strong CAGR of 25.9%. This blog takes a deep dive into the driving forces behind this robust growth, the key players shaping the industry, and the emerging trend of product innovations that are redefining the future of automotive 48V systems.

Cruising Toward Electrification

Electrifying the Wheels of Change

The burgeoning demand for electric and hybrid vehicles is the engine propelling the growth of the automotive 48V system market. Electric vehicles, powered by electric engines drawing energy from rechargeable batteries or external sources, are at the forefront of this transformation. Automotive 48V systems offer a more efficient power distribution mechanism, optimizing the operation of engine accessories and vehicle electronics. This versatility is instrumental in accommodating electric vehicle components without compromising the pursuit of fuel-efficient solutions. In 2022, over 10 million electric vehicles were sold worldwide, marking a significant increase from 4% in 2020 to 14% in 2022, contributing to the global fleet of 16.5 million electric vehicles, as reported by the International Energy Agency. The surge in demand for electric and hybrid vehicles continues to drive the growth of the automotive 48V system market.

Navigating the Market Leaders

The Driving Force Behind the Industry

In any dynamic market, key players steer the industry’s trajectory. The automotive 48V system market is no exception and features prominent leaders who set the pace and direction for the entire sector. These influential companies include:

• Toyota Motor Corp.
• Ford Motors Company
• General Motors
• Honda Motor Co. Ltd.
• Robert Bosch GmbH
• Tesla
• Nissan Motor Co. Ltd.
• Denso Corporation
• LG Chem
• Bayerische Motoren Werke AG
• Continental AG
• Magna International Inc.
• Mazda Motor Corp.
• Valeo SA
• Lear Corporation
• Mitsubishi Motors Corporation
• Schaeffler AG
• Hitachi Astemo Ltd.

These companies are the driving force, leading the way toward innovation, efficiency, and a greener future.

Innovating the Drive: Product Advancements

The Road to Tomorrow

Innovation is the steering wheel of the automotive 48V system market. Major players are committed to developing cutting-edge products to reinforce their position in this rapidly evolving industry. For example, Peugeot, the renowned French automobile brand, in February 2023, introduced a novel 48V hybrid powertrain for the 3008 and 5008 models. This hybrid powertrain incorporates a 136hp PureTech petrol engine and a 6-speed dual-clutch electrified gearbox with an integrated electric motor. This intelligent system significantly reduces fuel consumption by 15% and allows the vehicle to operate in 100% electric mode in congested areas at moderate speeds. Product innovation is at the forefront, driving the growth of the automotive 48V system market.

A Holistic View of the Market

Exploring the Market Landscape

The automotive 48V system market offers a diverse range of product types, architectures, applications, and vehicle categories. This extensive segmentation ensures that the market can cater to the unique requirements and preferences of consumers. Key segmentation categories include:

1. Type:
   • Mild-Hybrid Vehicles
   • Low-Power BEVs (Battery Electric Vehicles)
2. 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. Application:
   • Entry-Level Vehicles
   • Mid-Premium Vehicles
   • Luxury Vehicles

These segmentation categories offer consumers a wide array of options to choose from, ensuring their specific needs are met.

Leading the Global Drive

Asia-Pacific Takes the Wheel

In 2022, Asia-Pacific emerged as the leader in the automotive 48V system market. Looking forward, this dynamic region is expected to maintain its prominent position, continuing as the fastest-growing region in the years to come. With Asia-Pacific at the helm, the global market is poised to benefit from innovative solutions and a resolute commitment to a greener, electric future.

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The Automotive 48V System Global Market Report 2023  provides an overview of the automotive 48V system market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive 48V system market forecast analyzes automotive 48V system market size, automotive 48V system market share, leading competitor and their market positions.

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