A recent report published by Infinium Global Research on automobile 48-Volt battery system market provides in-depth analysis of segments and sub-segments in the global as well as regional automobile 48-Volt battery system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automobile 48-Volt battery system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automobile 48-Volt battery system market. According to the report, the global automobile 48-Volt battery system market is projected to grow at a CAGR of 54.1% over the forecast period of 2019-2025.
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 system, 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. 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.
The report on the global automobile 48-Volt battery system market covers segments such as component, and vehicle. On the basis of component, the sub-markets include AC/DC inverter, 48-Volt lithium ion battery, battery controller, power distribution box, and other components. On the basis of vehicle, the sub-markets include passenger vehicle, and commercial vehicle.
The report provides profiles of the companies in the market such as A123 Systems LLC, Continental AG, BorgWarner Inc., Delphi Technologies PLC., Robert Bosch GmbH, East Penn Manufacturing Company, EnerSys, GS Yuasa Corporation, Hitachi, Ltd., Johnson Controls International Plc, ZF Friedrichshafen AG, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automobile 48-Volt battery system market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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