The automotive 48V system market has the potential to grow by 17.39 million units during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 52.94%.
This automotive 48V system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (mild HEVs, low-powered BEVs, and others) and geography (APAC, Europe, North America, South America, and MEA). The automotive 48V system market report also offers information on several market vendors, including AVL List GmbH, BorgWarner Inc., Continental AG, HELLA GmbH & Co. KGaA, Hitachi Ltd., Magna International Inc., Mitsubishi Electric Corp., Robert Bosch GmbH, Schaeffler AG, and Valeo SA among others.
What will the Automotive 48V System Market Size be in 2021?
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Automotive 48V System Market: Key Drivers and Trends
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The automotive battery manufacturers developing 48V battery system is notably driving the automotive 48V system market growth, although factors such as higher total cost of ownership associated with hybrid technology may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the automotive 48V system industry get your FREE report sample now.
- The automotive 48V system is gaining in popularity globally amid strong demand for mild HEVs.
- Prominent luxury OEMs are also adopting 48V systems in ICE-based vehicles for applications such as electric superchargers and active suspension systems.
- As the 48V battery comprises a crucial component of the automotive 48V system, battery manufacturers are making efforts to enhance their portfolio from existing 12V and 24V batteries.
- Prominent players such as Johnson Controls International plc are leveraging global manufacturing facilities to satiate demand for high-powered batteries among automotive customers across the world.
- Technavio expects battery manufactures to continue developing 48V batteries for automotive application as demand for 48V mild hybrids is expected to surge significantly during the forecast period. Such developments will further support the growth of the global automotive 48V system market during the forecast period.
This automotive 48V system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.
Who are the Major Automotive 48V System Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- AVL List GmbH
- BorgWarner Inc.
- Continental AG
- HELLA GmbH & Co. KGaA
- Hitachi Ltd.
- Magna International Inc.
- Mitsubishi Electric Corp.
- Robert Bosch GmbH
- Schaeffler AG
- Valeo SA
The automotive 48V system market is fragmented and the vendors are deploying growth strategies such as working on improving their capabilities continuously to develop and manufacture to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Download a free sample of the automotive 48V system market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Automotive 48V System Market?
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44% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for the automotive 48V system in APAC. Market growth in these regions will be slower than the growth of the market in other regions.
Growing demand for EVs in countries such as China, Japan, South Korea, countries in Southeast Asia, and India will facilitate the automotive 48V system market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.
What are the Revenue-generating Application Segments in the Automotive 48V System Market?
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Mild HEVs made their advent in the market in 2014. Their presence has grown since given their affordability and response to new fuel-emission reduction policies put forth by the US and countries in Europe and APAC. The energy efficiency of mild HEVs is higher compared to non-hybrid vehicles as they replace the starter-alternator system with a single device, which helps in lowering fuel consumption. Hence, the demand for mild hybrids is growing strongly across the world. Prominent OEMs have launched 48V mild hybrids in the market and are expected to increase their 48V mild hybrid portfolio significantly during the forecast period with demand expected to outpace all other segments of EVs. As a result of these factors, the market segment is expected to record significant growth during the forecast period.
Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive 48V system market size.
What are the Key Factors Covered in this Automotive 48V System Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive automotive 48V system market growth during the next five years
- Precise estimation of the automotive 48V system market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive 48V system industry across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive 48V system market vendors
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Automotive 48V System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 53% |
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Market growth 2021-2025 |
17.39 mn units |
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Market structure |
Fragmented |
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YoY growth (%) |
56.36 |
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Regional analysis |
APAC, Europe, North America, South America, and MEA |
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Performing market contribution |
APAC at 44% |
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Key consumer countries |
China, Japan, US, Norway, and South Korea (Republic of Korea) |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
AVL List GmbH, BorgWarner Inc., Continental AG, HELLA GmbH & Co. KGaA, Hitachi Ltd., Magna International Inc., Mitsubishi Electric Corp., Robert Bosch GmbH, Schaeffler AG, and Valeo SA |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |