The latest report on Automobile 48-Volt Battery System Market by Infinium Global Research gives complete coverage of the automobile 48-volt battery system market by component (AC/DC inverter, 48-Volt lithium-ion battery, battery controller, power distribution box), vehicle (passenger vehicle, commercial vehicle) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of automobile 48-volt battery systems such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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New Hybrid and Alternative Fuel Powered Vehicles Emerged in the Industry
As the air pollution increased, the emission regulations started to get more stringent, particularly in Europe and the U.S. The emission standards forced automobile manufacturers to go for engines that will reduce the emission of the cars. Because of this, new hybrid and alternative fuel-powered vehicles emerged in the market. Leading car manufacturers including Mercedes-Benz, Audi, Peugeot, Ford, and Chevrolet are producing hybrid and electric vehicles. Mercedes-Benz has announced a new hybrid SUV GLE580, while its rival Audi has already launched hybrid SUV Q8, in the same segment. Both of the vehicles come packed with hybrid engines along with 48-Volt battery systems.
The strict emission regulations, especially by the European governments is the prime driving force for the automobile 48-Volt battery system market. The lower emission standards set by the governments led to the adoption of hybrid cars and electric vehicles. The 48v batteries are widely used in hybrid cars and electric vehicles for driving the vehicle as well as for lighting systems, pumps, and other applications. Furthermore, the 48-Volt battery system hybrid solution is more cost-effective than the conventional battery-powered electric vehicle to reduce the emission. This has increased the demand for the implementation of the 48-Volt battery system in the vehicles.
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Presence of Prominent Automobile Manufacturers and The Presence of Key Battery System Market
Moreover, the 48v battery systems get charged quickly and the juice in the batteries lasts for a longer period compared to conventional batteries. This advantage of the 48-Volt battery system over the conventional battery has contributed to the growth of the automobile 48-Volt battery system market. However, the 48-Volt battery system integration increases the overall cost of the vehicle which is the major restraining factor for the automobile 48-Volt battery system market. Additionally, increasing the application of electronic devices such as the media system, GPS and Bluetooth devices are expected to provide opportunities for the companies in the automobile 48-Volt battery system market.
Region-wise, Europe dominated the automobile 48-Volt battery system market, accounting for the largest share in the market based on revenue. Stringent emission standards set by the governments, the presence of prominent automobile manufacturers and the presence of key battery system market players in the region contribute to the domination of Europe in the global automobile 48-Volt battery system market. The Asia-Pacific region witnessed the highest rate of growth in the automobile 48-Volt battery system market owing to the growing demand for high-performance vehicles in emerging economies including China and India.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the automobile 48-volt battery system.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.