The global automotive 48V system market size was USD 6.59 billion in 2023, calculated at USD 8.34 billion in 2024 and is expected to reach around USD 87.48 billion by 2034, expanding at a CAGR of 26.5% from 2024 to 2034.
The global automotive 48V system market size accounted for USD 8.34 billion in 2024 and is expected to reach around USD 87.48 billion by 2034, expanding at a CAGR of 26.5% from 2024 to 2034.
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The Asia Pacific automotive 48V system market size was estimated at USD 2.97 billion in 2023 and is predicted to be worth around USD 39.37 billion by 2034, at a CAGR of 26.7% from 2024 to 2034.
Based on region, the global automotive 48V technology market is studied in North America, Europe, the Asia Pacific, and Rest of the World. The Asia Pacific emerged as the global leader in terms of revenue for the year 2023 owing to significant consumer base along with increasing penetration of battery-powered vehicles in the region. China is considered as the world’s largest automotive market. At the same time, China seeks unprecedented growth in the sale of electric vehicle because of government subsidies. In March 2019, the government of China slashed subsidies for electric vehicle and plug-in hybrid EVs by a rate of 50 percent as well as banded provincial governments from collecting subsidies from local purchase of the vehicles that expected to boost the growth of 48V technology in the region.
With the escalating adoption of battery–powered vehicles to track down the emission rate of a vehicle, 48 volt technology proved to be boon for the transportation industry. The 48V technology gain prominent traction in the recent past and expected to flourish over the coming years. Its cost advantage over pure electric & plug-in hybrid vehicles, less effort in development, and potential to immediately curb the carbon emission from a vehicle are the prime factors contributing towards the market growth.
Electric vehicles are very costly these days because of advanced battery systems integrated in the vehicle, thereby leading to less rate of adoption among middle-class public. Besides this, 48V technology cut down the operating cost of the vehicle along with improved vehicle efficiency and high running speed. In the wake of same, the automotive 48V technology is also regarded as the bridging technology between a pure electric vehicle and a traditional vehicle.
Moreover, stringent emission norms for automobiles issued by the governments of various regions to regulate the CO2 level in the environment that again trigger the adoption of automotive 48V technology in the near future. For instance, European Commission announced its plan to cut the emission rate by 37.5 percent by the end of 2030. To meet these standards Original Equipment Manufacturers (OEMs) are efficiently implementing 48V technology in their next-generation models.
| Report Highlights | Details |
| Market Size in 2023 | USD 6.59 Billion |
| Market Size in 2024 | USD 8.34 Billion |
| Market Size by 2034 | USD 87.48 Billion |
| Growth Rate from 2024 to 2034 | CAGR of 26.5% |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Segments Covered | Vehicle Class, Architecture, Region |
| Regions Covered | North America, Asia Pacific, Europe, Latin America, Middle East and Africa |
In 2023, mid-sized vehicle segment captured the maximum value share in the global automotive 48V technology market. The growth of the segment is mainly attributed to the increasing preference for vehicles with improved fuel economy as well as increasing awareness among the people for battery-driven cars. In addition to this, stringent government regulation for the vehicle emission and safety expected to spur the adoption of 48V technology in the mid-sized vehicles.
Previously, 12V technology was used prominently in the vehicles to power the starter battery and electric components that include infotainment, lighting, and safety systems, whereas advancement in safety technology along with convenience features have made 12V an inadequate technology for modern vehicles. This contributes as the key reason that several automakers such as Mercedes-Benz, Fiat Chrysler Automobiles (FCA), and Volkswagen have started implementing 48V technology in their new car systems.
By architecture, belt driven segment occupied the major revenue share accounting for nearly 40% in the year 2023 and expected to witness prominent growth of around 24% during the forecast period. As, belt driven (P0) is the initial configuration of powertrain used in the mild hybrid vehicles, thus contribute notably towards its worldwide adoption. Pure hybrid vehicles are very costly due to their battery system, thus mild hybrid vehicles bridge the gap between the technologies and meet the condition of low carbon emission in an addressable cost.
In the belt driven (P0) architecture, the electric machine and the Internal Combustion Engine (ICE) cannot be separated as they are mechanically linked with the accessory belt. Consequently, one of the major disadvantages for this configuration accounts to the parasitic loss of the engine friction torque for the electric machine when it provides boost torque and when it’s improving electrical energy.
Besides this, dual-clutch transmission-mounted (P2), input shaft of transmission (P3), and transmission output shaft/rear axle (P4) mild hybrid architectures are superior in terms of energy flow efficiency, mainly due to the positioning of electric machines. In these types of configurations, electric machines are positioned after the driveline connecting device (clutch) on the P2, P3, and P4 system.
Segments Covered in the Report
By Vehicle Class
By Architecture
By Regional Outlook
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Automotive 48V System Market, By Vehicle Class
7.1. Automotive 48V System Market, by Vehicle Class Type, 2024-2034
7.1.1. Premium
7.1.1.1. Market Revenue and Forecast (2021-2034)
7.1.2. Mid
7.1.2.1. Market Revenue and Forecast (2021-2034)
7.1.3. Entry
7.1.3.1. Market Revenue and Forecast (2021-2034)
7.1.4. Luxury
7.1.4.1. Market Revenue and Forecast (2021-2034)
Chapter 8. Global Automotive 48V System Market, By Architecture
8.1. Automotive 48V System Market, by Architecture, 2024-2034
8.1.1. Crankshaft Mounted
8.1.1.1. Market Revenue and Forecast (2021-2034)
8.1.2. Belt Driven
8.1.2.1. Market Revenue and Forecast (2021-2034)
8.1.3. Transmission Output Shaft
8.1.3.1. Market Revenue and Forecast (2021-2034)
8.1.4. Dual-Clutch Transmission-Mounted
8.1.4.1. Market Revenue and Forecast (2021-2034)
Chapter 9. Global Automotive 48V System Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.1.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.1.3.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.1.4.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.2.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.2.3.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.2.4.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.2.5.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.2.6.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.3.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.3.3.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.3.4.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.3.5.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.3.6.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.4.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.4.3.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.4.4.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.4.5.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.4.6.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.5.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.5.3.2. Market Revenue and Forecast, by Architecture (2021-2034)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Vehicle Class (2021-2034)
9.5.4.2. Market Revenue and Forecast, by Architecture (2021-2034)
Chapter 10. Company Profiles
10.1. Robert Bosch GmbH
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. BorgWarner Inc.
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Dana Limited
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. MAHLE Powertrain Ltd
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. CONTINENTAL AG
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. GKN (Melrose Industries PLC)
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Delphi Technologies
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Magna International Inc.
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Lear Corporation
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Valeo SA
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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