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.
The global automotive 48V system market estimated to grow with a CAGR of over 45.38% over the forecast period, 2020-2027. 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.
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.
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.
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.
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.
Based on Distribution Channel, the global automotive 48V system market bifurcated into OEM and Aftermarket. The OEM is likely to gain maximum revenue by 2027 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.
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 2027. 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 2027. 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.
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.
By Distribution Channel