The automotive 48V system market is projected to witness substantial growth over the coming decade, with a CAGR of 8.3% from 2023-2033. This can be attributed to the rising demand for improved fuel economy and enhanced performance from vehicles, which can be achieved through this technology. Furthermore, its implementation helps reduce emissions levels, providing an additional benefit.
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Moreover, OEMs are increasingly focusing on complying with stringent regulatory standards set by governments across regions in order to reduce CO2 emissions and promote greener automobiles. As a result, many prominent automobile manufacturers have already incorporated this technology in their existing models or announced plans to do so in the near future. By 2033, the total value of this market is estimated to reach USD 15 billion due to increased awareness and adoption of 48V systems across the globe.