As the automotive industry undergoes a metamorphosis, the global automotive 48V system market is expected to witness tremendous proliferation in the coming decade, according to a recently published report by Persistence Market Research (PMR). With countries attempting to achieve a 7.6% annual carbon emission reduction, it has become imperative to embrace sustainable alternatives to fuel consumption. Consequently, popularity of hybrid vehicles, especially mild hybrids, has been soaring in recent times.
Yielding cost savings and fuel economy up to 20%, mild hybrids are fast attracting the attention of automotive manufacturers, who are doling out specialized 48V systems to capture a significant share in the unconventional automobiles sector. Based on these trends, the automotive 48V system market is poised to enjoy a bright future ahead.
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Key Takeaways from Automotive 48V System Market Study
- Asia Pacific to be the most lucrative growth hotspot, followed by Europe, through 2030.
- Luxury vehicles segment to register healthy growth, owing to increasing living standards in emerging economies.
- Stringent government regulations to curb emissions are ushering in healthy market growth.
- Global automotive 48V market to experience meteoric increase in short-term forecast.
- COVID-19 pandemic likely to negligibly hinder expansion prospects, attributed to robust supply chains.
“Although complete transition from 12V to 48V systems is likely to occur gradually, manufacturers are leveraging every possible opportunity to flood the global automotive market with sophisticated products to carve a firm footing for themselves,” concludes a PMR analyst.
Hybrid Vehicle Sales Peak in China, Aggrandizing 48V System Demand
Since 2019, the Chinese automobile industry is undergoing a paradigm shift, with demand for hybrid vehicles soaring impressively. Among them, petrol hybrids are likely to garner maximum traction, with the government slashing over three-fifth of subsidies on electric vehicles and 50% of plug-in hybrids. According to a government published report, hybrid sales in China reached 300 thousand units by 2019-end, representing a substantial increase over the previous year. More recently, Chevrolet introduced its Orlando variants featuring 48V technology in May 2020. Based on these figures, the automotive 48V system market is expected to surge significantly.
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In spite of the coronavirus pandemic, the automotive industry in the East Asian giant has remained largely resilient. With adequate checks and balances in place, the industry is poised to weather out the second wave of the pandemic, thus keeping demand for 48V systems afloat over the coming months.
Automotive 48V System Market: Competition Landscape
Prominent players involved in the manufacturing of automotive 48V systems include, but are not limited to, Continental AG, BorgWarner Inc., Honda Motor Company, Mitsubishi Motors, Mazda Motor Corporation, Ford Motors Company, Bayerische Motoren Werke AG, DENSO CORPORATION, MAHLE GmbH, and Magma International Inc.
- In 2017, Continental AG developed a 48V eBike System, the world’s first integrated stepless automatic transmission bike incorporated within a single unit. Named 48V Revolution, the bike has a continuously variable planetary (CVP) gearing system with a 380% ratio range.
- In October 2020, BorgWarner Inc. launched an upgraded version of its S-410 turbocharger for the Mercedes Benz Novo Actros extra heavy truck. Available in three different ranges (450 HP, 480 HP, and 510 HP), the turbocharger offers higher
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Explore More Valuable Insights on Automotive 48V System Market
Persistence Market Research, in its new report, offers an impartial analysis of the global automotive 48v system market, presenting historical data (2015-2019) and estimation statistics for the period of 2020-2030. The study offers compelling insights on the automotive 48v system market based on architecture (belt-driven, crankshaft-mounted, dual-clutch transmission-mounted, and transmission output shaft) and end use (entry-level vehicles, mid-premium vehicles, and luxury vehicles), across seven regions.
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