USD 8.32 Billion
Automotive 48V System Market Size, Share, and Growth Analysis
Automotive 48V System Market By Architecture (Belt Driven, Crankshaft Mounted), By Vehicle Class, By Region -Industry Forecast 2025-2032
Report ID:
SQMIG25C2149 |
Region:
Global |
Published Date: December, 2024
Pages:
187
|Tables:
0
|Figures:
0
Format -
Automotive 48V System Market Insights
Automotive 48V System Market size was valued at USD 8.32 Billion in 2023 and is poised to grow from USD 10.49 Billion in 2024 to USD 53.21 Billion by 2032, growing at a CAGR of 26.1% during the forecast period (2025-2032).
Growing emphasis on sustainability and rising demand for more fuel-efficient vehicles around the world are primarily driving the sales of automotive 48V systems. Growing number of automotive manufacturers focusing on reducing harmful emissions from their vehicles are also opting for automotive 48V systems to achieve the same. Vehicle electrification is also a key trend that is expected to bolster automotive 48V system market growth in the future. The use of automotive 48V systems not only reduces emissions and improves efficiency of the vehicle, but also plays a crucial role in enhancing the performance of the vehicle as well. Moreover, using an automotive 48V system is much more cost-effective and affordable than building a completely electric or fully hybrid drivetrain, which is expected to favor market development over the coming years. Growing disposable income of people, rising vehicle sales around the world, and launch of new automotive technologies are other factors that could promote automotive 48V system demand in the long run. Ho. However, compatibility issues with existing vehicles, short lifespan as it is termed as a transitional technology, and high costs of implementation.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Mid-Premium Level
Fastest Growth
Luxury
Growth Rate
26.1% CAGR
Global Automotive 48V System Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Automotive 48V System Market Segments Analysis
Global Automotive 48V System Market is segmented by Architecture, by Vehicle, by Component, by Application, and by Region. Based on Architecture, the market is segmented into Belt-driven, Crankshaft-mounted, Dual-clutch, Transmission-mounted, Transmission output shaft. Based on Vehicle, the market is segmented into Passenger cars, Commercial vehicles, Buses. Based on Component, the market is segmented into 48V battery, Electric motor/generator, Power inverter, DC/DC converter, Control Units, Others. Based on Application, the market is segmented into Fuel Efficiency Improvement, Start-Stop Functionality, Regenerative Braking, Active Roll Stabilization, Electric Power Steering. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Vehicle Class
Mid-premium level vehicles are projected to account for a substantial share of the global automotive 48V system market. Growing sales of mid-premium vehicles around the world and rising integration of novel features in these affordable vehicles are helping this segment maintain its dominance. High demand for good sized vehicles, rising popularity of SUVs and MUVs, and the need for better fuel economy in these vehicles are other factors that are expected to create high demand for automotive 48V system in this segment going forward. Integration of advanced safety systems to comply with modern regulations will also offer new business scope for automotive 48V system providers in this segment through 2031 and beyond.
On the other hand, the demand for automotive 48V system in luxury vehicles is projected to increase at a robust pace across the study period. The rapidly increasing disposable income and growing number of wealthy individuals around the world have created a high demand for luxury vehicles. These vehicles are often equipped with advanced technologies and systems that require automotive 48V system to operate smoothly and function as intended. Advanced safety systems, infotainment systems, and electric turbochargers are some key components that require automotive 48V systems in luxury vehicles.
Analysis by Architecture
Belt-driven architecture is forecasted to spearhead the adoption of automotive 48V system across the study period. Growing use of belt-driven configurations in mild hybrid and hybrid vehicles is projected to primarily contribute to the dominance of this segment. The high use of belt-driven architecture for torque boost, regenerative braking, start-stop capability, power to the electric drive, compressors, and power steering in multiple vehicles is expected to create lucrative opportunities for automotive 48V system companies going forward. However, loss of energy due to friction in belt-driven systems is a concern that could reduce the market share of this segment to a certain extent in the future.
Meanwhile, the demand for crankshaft-mounted automotive 48V systems is estimated to increase at a rapid pace across the study period and beyond. Growing emphasis on improving the performance of the vehicle without causing more emissions is projected to promote market growth via this segment. Better torque offered by crankshaft-mounted automotive 48V system is also expected to help this segment generate new sales opportunities for automotive 48V system companies going forward.
Global Automotive 48V System Market By Vehicle Class
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Automotive 48V System Market Regional Insights
The presence of key automotive giants and a robust automotive manufacturing industry in the Asia Pacific region makes it the leading market for all automotive 48V system companies. The imposition of strict vehicle emission control mandates and growing popularity of mild hybrids in this region are estimated to bolster the sales of automotive 48V system in this region. Japan, South Korea, India, and China are the most opportune markets for automotive 48V system providers owing to the presence of companies such as Toyota, Nissan, BYD, Tata, Hyundai, Suzuki, etc. Surge in disposable income of people in this region is also a key factor promoting sales of vehicles and thereby benefiting automotive 48V system demand outlook as well.
Meanwhile, North America is forecasted to account for the second-largest share of the global automotive 48V system market. Growing demand for electric vehicles, rising sales of premium and luxury vehicles, and the presence of key automotive companies are all helping North America maintain its second-largest market share. Imposition of strict emission and road safety mandates by governments and regulatory authorities are making the United States the most rewarding market in this region. Investing in Canada can also offer good returns for automotive 48V system companies looking to make a mark in the North America region over the coming years.
Global Automotive 48V System Market By Region
- Largest
- Fastest
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Automotive 48V System Market Dynamics
Drivers
Demand for Efficient and Low Emission Vehicles
- The increasing threat of global warming and climate change has led to swift action to curb emissions around the world. This has pushed governments and regulatory bodies to impose new emission standards for vehicles resulting in the development of more efficient vehicles. Automotive 48V systems play a crucial role in improving efficiency and reducing emissions, which is why their demand is slated to rise in the future.
Low Costs Compared to Fully Hybrid or Electric Vehicles
- While electric vehicles and complete hybrid vehicles are gaining massive popularity, their adoption is quite limited due to high costs. This issue is addressed by integration of automotive 48V system with conventional vehicles thereby making them more efficient and less polluting at a fraction of cost of a new EV or fully hybrid. This affordability is also expected to promote sales of automotive 48V systems going forward.
Restraints
Short Lifespan of Technology
- While automotive 48V systems are quite impressive, they are only seen as a transitional technology that will be viable only for a short span of time until the world completely shifts to electric vehicles. This short lifespan of technology could slow down the global automotive 48V system market development to a certain extent now as well as in the long run.
Issues in Compatibility
- Not all vehicles can be fitted with the same automotive 48V systems, and it is not even possible for some conventional vehicles to fit this novel system. These issues in compatibility and high costs of retrofit designs and technologies further add to complexities. These issues are estimated to hamper automotive 48V system sales in the future.
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Automotive 48V System Market Competitive Landscape
Automotive 48V system companies should focus on expanding the scope of compatibility of their offerings to maximize their business. Entering emerging markets and educating people about the benefits of vehicles equipped with automotive 48V systems will also aid market growth in the future. Collaborations and partnerships with automotive companies will be highly crucial for any automotive 48V system business to succeed in this market.
Top Players in Automotive 48V System Market
- Magna International Inc.
- Valeo
- MAHLE Powertrain Ltd.
- CONTINENTAL AG
- Cummins Inc.
- Honda Motor Company
- Ford Motors Company
- Lear Corporation
- Robert Bosch GmbH
- Delphi Technologies
- BorgWarner Inc.
- Dana Limited
- Denso Corporation
- Hyundai Motor Company
- GKN (Melrose Industries PLC)
- Eaton
- Tenneco
- LG Electronics
- Bosch
- Kostal
Recent Developments
- In November 2023, Vitesco Technologies, a renowned provider of powertrains based in Germany showcased its 48V e-scooter drive at the EICMA event. The company also revealed its plans to launch scooters with this new drive in the range of 3 to 7 kW output in the Indian market in the year 2025.
- Back in December 2023, Toyota, the world’s largest automotive manufacturer based out of Japan, announced the launch of its new model with a 48V system in the European market. Toyota Hilux Hybrid 48V features better performance and efficiency for its users from its already popular 2.8 litre diesel engine.
- In February 2023, PEUGEOT, a renowned French automotive giant announced the use of 48V systems in its two vehicle models. The company offered these systems for its 3008 and 5008 models and had plans of extending it further to other models in the future. The company is using 48V systems developed by Stellantis.
Automotive 48V System Key Market Trends
- Use in Commercial Vehicles: automotive 48V system companies can explore the use of their offerings in commercial vehicles to maximize their business scope going forward. Developing special automotive 48V systems that can improve the efficiency and performance of commercial vehicles whilst keeping emissions at a minimum will offer highly rewarding new opportunities for automotive 48V system companies in the future.
- Use with Smart Energy Management Systems: Automotive 48V system companies can focus on the integration of their offerings with smart energy management solutions to improve energy management in the vehicle. Growing vehicle electrification will create new opportunities for market players as the focus on managing energy usage in real-time to improve fuel savings and vehicle performance increases globally.
Automotive 48V System Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing demand for efficiency in vehicles and imposition of strict emission control mandates are projected to drive the demand for automotive 48V systems. However, the short lifespan of technology and issues in compatibility are slated to impede market growth potential going forward. The presence of multiple automotive manufacturers in the Asia Pacific region allows it to spearhead the global sales of automotive 48V systems. Developing automotive 48V systems for commercial vehicle use could offer lucrative opportunities for market growth in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.32 Billion |
| Market size value in 2032 | USD 53.21 Billion |
| Growth Rate | 26.1% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive 48V System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive 48V System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive 48V System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive 48V System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive 48V System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive 48V System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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