PORTLAND, ORAGON, UNITED STATES, August 3, 2022 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Automotive 48V System Market by Architecture, and Vehicle Class: Opportunity Analysis and Industry Forecast, 2020–2027”, the automotive 48V system market was valued at $2.27 billion in 2019, and is projected to reach $21.00 billion by 2027, registering a CAGR of 26.5% from 2020 to 2027. By architecture, the belt driven segment was the highest revenue contributor in 2019, accounting for $1,436.55 million, and is estimated to reach $ 988.63 million by 2027, registering a CAGR of 23.4% during the forecast period. In 2019, Asia-Pacific was anticipated to account for the major market share.
The Asia-Pacific region is dominating the market in term of revenue, followed by Europe, North America, and LAMEA. In Asia-Pacific, China dominated the automotive 48V system market in 2019, whereas India is expected to grow at a significant rate during the forecast period.
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Automakers worldwide are moving toward electrifying their fleets, but it does not mean every future car or truck will need to be plugged in. Instead, the first wave of this advancement is 48-volt technology. This new technology includes the benefits of decreased emissions and even improved acceleration. And the new onboard battery systems provide extra power to run infotainment and advanced safety systems in vehicle.
Moreover, the 48-volt systems are an easy way for automakers to improve performance, fuel economy, and even durability. Most cars today contain the typical 12-volt electrical system that relies on an alternator to convert the engine’s power into electrical current. That current charges the vehicle’s starter battery and runs all the vehicle’s electrical components, including lighting, infotainment, and safety systems. But 12-volt systems are becoming inadequate for modern vehicles. Further, many parts in the vehicle today are demanding electrical power, advanced safety technology to convenience features. That is the main reason automakers including Fiat Chrysler Automobiles (FCA), Mercedes-Benz, and Volkswagen have started designing vehicles using 48-volt systems.
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COVID Impact Banner : The mid-level vehicle class segment of automotive 48V system will slightly affect due to the decrease in hybrid vehicle sale globally.
> Due to COVID-19 pandemic, the automotive 48v system market has been affected as the supply chain has been affected.
> Due to the imposed lockdown, manufacturing units across the globe has halted their production which has affected the purchase of new advanced vehicles.
> The unavailability of skilled labor has also affected the automotive 48v system market as people preferred to maintain social distancing thus affecting the automotive 48v system based vehicle productions.
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Key Find ings Of The Study –
> In 2019, by architecture type, the belt driven architecture segment generated the highest revenue.
> In 2019, by vehicle class type, the mid-sized vehicle segment was the highest revenue contributor.
> In 2019, by region, Asia-Pacific contributed the highest revenue, followed by Europe, North America, and LAMEA.
The key players analyzed in the report include BorgWarner Inc., Robert Bosch GmbH, CONTINENTAL AG, Dana Limited, Delphi Technologies, GKN (Melrose Industries PLC), Lear Corporation, Magna International Inc., MAHLE Powertrain Ltd, and Valeo SA.
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About us –
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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