Global Automotive 48V System Market Insights, Size and Growth Forecast To 2027
Global Automotive 48V Systems market anticipated to spur due to the growing demand for their low cost and as a cost-effective solution for automotive OEMs. The global automotive 48V system market estimated to grow with a CAGR of over 45.38% over the forecast period, 2020-2027. It is primarily attributed to stringent emission regulations to reduce fuel consumption and the surge in the use of hybrid technology in vehicles. Additionally, the increase in the use of a 48V system to run internal combustion engines more efficiently by driving auxiliary functions such as power steering racks, brake vacuum pumps, and water pumps with electric motors will impact the growth of automotive 48V systems industry in the future time. The implementation of 48V can result in 25% fuel saving based on the implementation driving cycle, easy integration, and help OEMs reach their CO2 target with low investment. These factors are driving the global automotive 48V system in the upcoming peri...