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Automotive 48V System Market Trends

  • Report ID: GMI11782
  • Published Date: Oct 2024
  • Report Format: PDF

Automotive 48V System Market Trends

Automotive 48V systems are witnessing significant technological advancements in 48V technology. Innovations in power electronics, battery management, and energy recovery systems have enhanced the efficiency, performance, and reliability of these systems. These advancements enable automakers to improve fuel efficiency and reduce emissions without the complexity and cost of full hybrid or electric systems.
 

For example, improved electric turbochargers, regenerative braking systems, and more efficient DC/DC converters optimize energy usage, delivering better performance at a lower energy cost. Additionally, advancements in battery technology have increased the storage capacity and longevity of 48V systems, making them more viable for mass-market vehicles. These innovations also support integration with advanced driver assistance systems (ADAS) and other energy-demanding vehicle features, further boosting market demand.
 

For instance, in March 2024, Jeep launched the new Avenger e-Hybrid with its innovative 48V hybrid engine. The Avenger e-Hybrid features a 100hp internal combustion engine coupled with a 21kw electric motor. This setup is integrated into a double-clutch 6-speed automatic transmission and includes a 48V Belt Starter for smooth transitions between electric and combustion driving modes. The vehicle is equipped with a 0.9 kWh lithium-ion battery located under the driver's seat, which does not impact the interior space.
 

The high initial costs of implementing 48V systems present a significant barrier in the automotive 48V system market. These systems require advanced components such as electric motors, batteries, DC/DC converters, and inverters, which increase production costs compared to traditional 12V systems. Automakers must re-engineer parts, redesign vehicle architecture, and make substantial R&D investments to integrate 48V technology into vehicles, further raising costs.
 

For consumers, this results in higher vehicle prices, potentially limiting demand, particularly in price-sensitive markets. In regions with lower purchasing power or limited government incentives, the cost challenge hinders the widespread adoption of 48V systems, slowing market growth despite their long-term benefits in fuel efficiency and emission reduction.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of automotive 48V system reached USD 4.8 billion in 2023 and is set to grow at a 24.1% CAGR from 2024 to 2032, driven by the rising demand for hybrid and electric vehicles.

The belt-driven segment accounted for over 40% of the market share in 2023 and is expected to exceed USD 15 billion by 2032, due to its cost-effectiveness and seamless integration with existing ICE designs.

The passenger cars segment held around 84% of the market share in 2023, led by higher production volumes and the need for improved fuel efficiency and reduced emissions.

The Asia Pacific market is projected to cross USD 14 billion by 2032, supported by a robust automotive manufacturing base and government initiatives for vehicle electrification.

Major players in the industry include Aptiv PLC, BorgWarner, Continental AG, Denso Corporation, Infineon Technologies, Magna International, Panasonic, Robert Bosch, Valeo, and ZF Friedrichshafen.

Automotive 48V System Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 180
  • Countries covered: 23
  • Pages: 252
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