The automotive 48V system market is being driven by the increasing demand for efficient and cost-effective systems that can help reduce fuel consumption and emissions, while also improving performance. With automakers now seeking to capitalize on this demand, they are looking to develop new technologies such as mild-hybrid powertrains that offer improved torque boosting and regenerative braking capabilities.
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The global automotive 48V system market is estimated to hit USD 9.7 billion by 2027 at a CAGR of 8% over the forecast period from 2021-2027. The primary driver for this growth stems from government regulations in favor of greener vehicles, along with growing consumer awareness surrounding electric propulsion and its associated technologies. Additionally, improved battery technology has enabled OEMs to employ more powerful motors without having to increase their weight or size, thus further aiding market growth.