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Global Automotive 48V System Market By Application (Mild Hybrid Vehicles, Low-Powdered Battery Electric Vehicle and Others), By Distribution Channel (OEM and Aftermarket), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa), Forecast and Analysis 2022-2030.
Global Automotive 48V System Market Overview
The global automotive 48V system market is estimated to reach USD 34.5 billion by 2030, with growth at a CAGR of 24.6 % during the forecast period of 2022-2030, and it was valued at USD 5.24 billion in 2022. The automotive 48V Systems system is a type of hybrid system. Unlike the hybrid power system represented by Prius, the voltage of the entire system in the 48V micro-hybrid system does not exceed 60V. The 48V system can provide the basis for an integrated platform for more advanced energy-saving technologies to achieve energy-saving effects. The 48V carrying power is increased to about 15kw, which can provide more integration of emission reduction technology. Under the 48V system, with the application of various advanced energy-saving technologies, a fuel-saving effect of 10% -15% can be achieved. 48V system can provide more functional integration such as an energy recovery system, automatic start-stop system, etc., to meet people’s increasing demand. At the same time, the lithium battery has better charging and discharging performance, and the application effect of the start-stop system is better.Global Automotive 48V System Market Insights
The significant factors are the surge in demand for 48V in mild hybrids and low-powered BEVs because of their low cost. Additionally, the growing demand for 48V system for its characteristics such as low investment, energy-saving and emission reduction, and can increase the power supply of the vehicle are projected to drive the growth of the global automotive 48V system market size. With stringent fuel consumption and energy-saving emission reduction policies, automakers are looking for the most cost-effective solution to bring value to the enterprise. These key factors are fuelling the demand for automotive 48V system in the near future. 48V can use to drive electric superchargers. The electric supercharger replaces the traditional waiting for exhaust gas to let the turbine reach the maximum speed, which will make the acceleration process faster, and the lag will not be so significant. Furthermore, the adaptability of 48V systems into the existing vehicle architecture without changing other components along with the low-cost feature of automotive 48V systems will trigger the robust growth of the global automotive 48V system industry. Also, the hybridization of vehicles and pure electrification of vehicles will create an opportunity for the growth of the global automotive 48V system industry.Growth Driver
The surge in demand for 48V in hybrid vehicles
48V has matured in technology, and the market layout has been formed. It has the advantages of low cost, outstanding fuel-saving effect, and strong technical feasibility. It will inevitably become one of the OEM electrification strategies. 48V light mixing will also be gradually upgraded from the first generation P0 configuration to the second generation Px configuration, and the fuel-saving level will also move from 7% -15% to even exceed 20% level. The 48V hybrid system is based on the traditional start-stop technology by increasing the voltage to enhance the energy-saving effect of the system and provide a better driving experience and more driving options.Increase in consumption of fuel urging the need for alternative energy-efficient source
Automotive OEM urgently needs to increase the average fuel consumption level. Second, as a transition technology from the internal combustion engine to new energy, under the condition of incremental unit cost, 48V Light-mixing has the highest fuel efficiency and is also the most cost-effective solution. The fuel-saving efficiency of the first generation 48V light-mix products is below 15%, and the second-generation products with fuel-saving efficiency above 20% will be released in 2020.Stringent Policy for prevention of environmental pollution
The burning of fossil fuels like diesel and gasoline releases carbon dioxide, a greenhouse gas, into the atmosphere. The build-up carbon dioxide (CO2) and other greenhouse gases such as nitrous oxide, hydrofluorocarbons, and methane are causing global warming, resulting in climatic changes which are impacting human and environments. In 2009, the EU adopted mandatory legal means to replace voluntary CO2 emission reduction agreements and implemented automobile fuel consumption and CO2 restriction requirements and labeling systems, requiring 2015 and 2020 passenger car CO2 emissions to reach 130g / km and 95g, respectively / km target. The United States issued a series of regulations for light vehicle fuel economy and greenhouse gas emissions in 2010-2012.Application Segmental Analysis
Based on the application, the global automotive 48V system market classified into Mild Hybrid Vehicles, Low-Powdered Battery Electric Vehicle, and Others. The Mild Hybrid Vehicles will witness significant growth in the forecast period. It is primarily attributed to the rise in demand for government mandates for a cleaner, safer, more fuel-efficient vehicles along with 48-volt mild hybrids are consumer-pleasing, and cost-effective platform. Additionally, mild hybrid provides in reducing fuel consumption and improved power to a lesser degree than a full hybrid. Low-Powdered Battery Electric Vehicle will be the fastest-growing segment in the estimated period due to the growing demand for electric vehicles by government usages as it is proving pollution-free environment and low fuel consumption.Distribution Channel Segmental Analysis
Based on Distribution Channel, the global automotive 48V system market bifurcated into OEM and Aftermarket. The OEM is likely to gain maximum revenue by 2030 on account of the surge in demand for new electric vehicles, which are equipped with 48V, that provide low fuel consumption and energy-saving emission. The aftermarket will be the fastest-growing segment in the projected period due to the growing demand for electric vehicles by augmentation in consumer awareness regarding the benefit of the 48V system.Region Segmental Analysis
Based on geography, the global Automotive 48V System market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia-Pacific estimated to occupy the lion’s share in the Automotive 48V System market by 2030. It is owing to growing investments in the manufacturing of 48V systems by automotive manufacturers in the region, and emerging countries like Japan, India, South Korea, and other countries in the Asia-Pacific region are developing and adopting low-cost 48V systems. Europe captured a prominent share of the automotive 48V system market in 2019 and projected to remain dominant by 2030. It is due to the development of the automotive industry in Europe is quite strong, along with the huge demand for a hybrid electric vehicle in these regions.Competitor Analysis
Companies such as BorgWarner Inc., Continental AG, Delphi Technologies Plc, Hella GmbH & Co. KGaA, Hitachi Ltd., Magna International Inc., Mitsubishi Electric Corp., Robert Bosch GmbH, Schaeffler AG, and Valeo SA are the key players in the global automotive 48V system market.Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global automotive 48V system manufacturing firm
- Research organizations and consulting companies
- Organizations, associations, and alliances related to automotive 48V system
- Regulatory bodies
- Suppliers
- Retailers
Recent Developments
- In December 2017, the U.S Parliament introduced another climate change bill that aims to curb greenhouse gas emissions from public lands, alongside supporting the transition toward cleaner energy. Such enactments have motivated prominent manufacturers to establish their businesses across the globe, increasing the growth prospects of the 48V system market.
- In 2019, BMW recorded 17million vehicular sales. Such accelerating sales are upgrading the scope of various manufacturers in the 48V system market, as these cars require advanced electrical systems to power their motors, infotainment systems, and batteries.
- In June 2020, Denmark recently passed the Climate Act to reduce CO2 emissions by 70% before this current decade’s over. This aspiring law has expanded certainty among other European countries that emanation decrease targets are feasible with reliable endeavors.
Scope of The Report
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 4.2 Billion |
| Revenue forecast in 2027 | USD 21 Billion |
| Growth Rate | CAGR of 26.5% from 2020 to 2027 |
| Historical data | 2017-2019 |
| Forecast period | 2021 – 2027 |
| Region covered | America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | BorgWarner Inc., Continental AG, Delphi Technologies Plc, Hella GmbH & Co. KGaA, Hitachi Ltd., Magna International Inc., Mitsubishi Electric Corp., Robert Bosch GmbH, Schaeffler AG, and Valeo SA |
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Application- Mild Hybrid Vehicles
- Low-Powdered Battery Electric Vehicle
- Others
- OEM
- Aftermarket
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Content
- Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
- Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
- Executive Summary
- Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2022
4.7. Porter’s Five Forces Analysis
4.8. Price point analysis
4.9. New Investment Analysis
4.10.PESTEL Analysis
- Global Automotive 48V System Market, 2017-2030
5.1. Market size & Forecast, 2017-2030
5.1.1. Demand
5.1.1.1. By Value (USD Billion)
5.1.2. Consumption
5.1.2.1. By Volume (Billion Units)
5.2. Market Share & Forecast, 2017-2030
5.2.1. By Application
5.2.1.1. Mild Hybrid Vehicles
5.2.1.2. Low-Powdered Battery Electric Vehicle
5.2.1.3. Others
5.2.2. By Distribution Channel
5.2.2.1. OEM
5.2.2.2. Aftermarket
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia Pacific
5.2.3.4. The Middle East & Africa
5.2.3.5. South America
- North America Automotive 48V System Market, 2017-2030
6.1. North America Automotive 48V System Market size & Forecast, 2017-2030
6.1.1. Demand
6.1.1.1. By Value (USD Billion)
6.1.2. Consumption
6.1.2.1. By Volume (Billion Units)
6.2. North America Automotive 48V System Market Share & Forecast, 2017-2030
6.2.1. By Application
6.2.1.1. Mild Hybrid Vehicles
6.2.1.2. Low-Powdered Battery Electric Vehicle
6.2.1.3. Others
6.2.2. By Distribution Channel
6.2.2.1. OEM
6.2.2.2. Aftermarket
6.2.3. By Country
6.2.3.1. US
6.2.3.2. Canada
6.2.3.3. Mexico
6.2.4. Price-Point Analysis, By Sensor
6.2.5. Manufacturer & Distribution List (Top 5)
6.2.6. Company Market Share (Top 3-5)
6.2.7. Economic Impact Study on North America Automotive 48V System Market
- Europe Automotive 48V System Market, 2017-2030
7.1. Europe Automotive 48V System Market size & Forecast, 2017-2030
7.1.1. Demand
7.1.1.1. By Value (USD Billion)
7.1.2. Consumption
7.1.2.1. By Volume (Billion Units)
7.2. Europe Automotive 48V System Market Share & Forecast, 2017-2030
7.2.1. By Application
7.2.1.1. Mild Hybrid Vehicles
7.2.1.2. Low-Powdered Battery Electric Vehicle
7.2.1.3. Others
7.2.2. By Distribution Channel
7.2.2.1. OEM
7.2.2.2. Aftermarket
7.2.3. By Country
7.2.3.1. Germany
7.2.3.2. UK
7.2.3.3. France
7.2.3.4. Italy
7.2.3.5. Rest of Europe
7.2.4. Price-Point Analysis, By Sensor
7.2.5. Manufacturer & Distribution List (Top 5)
7.2.6. Company Market Share (Top 3-5)
7.2.7. Economic Impact Study on Europe Automotive 48V System Market
- Asia Pacific Automotive 48V System Market, 2017-2030
8.1. Asia Pacific Automotive 48V System Market size & Forecast, 2017-2030
8.1.1. Demand
8.1.1.1. By Value (USD Billion)
8.1.2. Consumption
8.1.2.1. By Volume (Billion Units)
8.2. Asia Pacific Automotive 48V System Market Share & Forecast, 2017-2030
8.2.1. By Application
8.2.1.1. Mild Hybrid Vehicles
8.2.1.2. Low-Powdered Battery Electric Vehicle
8.2.1.3. Others
8.2.2. By Distribution Channel
8.2.2.1. OEM
8.2.2.2. Aftermarket
8.2.3. By Country
8.2.3.1. China
8.2.3.2. India
8.2.3.3. Japan
8.2.3.4. Australia
8.2.3.5. Rest of Asia pacific
8.2.4. Price-Point Analysis, By Sensor
8.2.5. Manufacturer & Distribution List (Top 5)
8.2.6. Company Market Share (Top 3-5)
8.2.7. Economic Impact Study on Asia-Pacific Automotive 48V System Market
- The Middle East & Africa Automotive 48V System Market, 2017-2030
9.1. The Middle East & Africa Automotive 48V System Market size & Forecast, 2017-2030
9.1.1. Demand
9.1.1.1. By Value (USD Billion)
9.1.2. Consumption
9.1.2.1. By Volume (Billion Units)
9.2. The Middle East & Africa Automotive 48V System Market Share & Forecast, 2017-2030
9.2.1. By Application
9.2.1.1. Mild Hybrid Vehicles
9.2.1.2. Low-Powdered Battery Electric Vehicle
9.2.1.3. Others
9.2.2. By Distribution Channel
9.2.2.1. OEM
9.2.2.2. Aftermarket
9.2.3. By Country
9.2.3.1. Saudi Arabia
9.2.3.2. UAE
9.2.3.3. South Africa
9.2.3.4. Rest of The Middle East & Africa
9.2.4. Price-Point Analysis, By Sensor
9.2.5. Manufacturer & Distribution List (Top 5)
9.2.6. Company Market Share (Top 3-5)
9.2.7. Economic Impact Study on The Middle East & Africa Automotive 48V System Market
- South America Automotive 48V System Market, 2017-2030
10.1. South America Automotive 48V System Market size & Forecast, 2017-2030
10.1.1. Demand
10.1.1.1. By Value (USD Billion)
10.1.2. Consumption
10.1.2.1. By Volume (Billion Units)
10.2. South America Automotive 48V System Market Share & Forecast, 2017-2030
10.2.1. By Application
10.2.1.1. Mild Hybrid Vehicles
10.2.1.2. Low-Powdered Battery Electric Vehicle
10.2.1.3. Others
10.2.2. By Distribution Channel
10.2.2.1. OEM
10.2.2.2. Aftermarket
10.2.3. By Country
10.2.3.1. Brazil
10.2.3.2. Argentina
10.2.3.3. Rest of South America
10.2.4. Price-Point Analysis, By Sensor
10.2.5. Manufacturer & Distribution List (Top 5)
10.2.6. Company Market Share (Top 3-5)
10.2.7. Economic Impact Study on South America Automotive 48V System Market
- Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company profile
11.7.1. BorgWarner Inc.
11.7.2. Continental AG
11.7.3. Delphi Technologies Plc
11.7.4. Hella GmbH & Co. KGaA
11.7.5. Hitachi Ltd.
11.7.6. Magna International Inc.
11.7.7. Mitsubishi Electric Corp.
11.7.8. Robert Bosch GmbH
11.7.9. Schaeffler AG
11.7.10. Valeo SA
11.7.11. Other Prominent Players
Frequently Asked Questions (FAQ):
The global automotive 48V system market is estimated to reach USD 34.5 billion by 2030, with grow at a CAGR of 24.6% during the forecast period of 2022-2030, and it was valued at USD 5.24 billion in 2022.
The global automotive 48V system market is expected to grow significantly due to the surge in demand for 48v in hybrid vehicles, increase in fuel consumption urging the need for alternative energy-efficient sources and stringent policy for the prevention of environmental pollution.
The global automotive 48V system market has been affected due to the COVID-19 pandemic as the manufacturing units have been closed due to the imposed lockdown, and the unavailability of skilled labor has affected the market in major countries across the globe.
The Asia Pacific is highly lucrative in the global automotive 48V system market. This is due to growing investments in the manufacturing of 48V systems by automotive manufacturers in the region, and emerging countries like Japan, India, South Korea, and other countries in the Asia-Pacific region are developing and adopting low-cost 48V systems.
Companies such as BorgWarner Inc., Continental AG, Delphi Technologies Plc, Hella GmbH & Co. KGaA, Hitachi Ltd., Magna International Inc., Mitsubishi Electric Corp., Robert Bosch GmbH, Schaeffler AG, and Valeo SA are the key players in the global automotive 48V system market.
