Increasing Use of UCs for Fast Energy Storage to Gain Huge Popularity in the Global Automotive 48V System Market: Technavio

Renewable energy

The global automotive 48V system market is expected to grow at an impressive CAGR of around 89% by 2021, says Technavio.

Technavio has announced its latest market research report on automotive 48V system for the forecast period, 2017-2021. This market analysis, under the automotive electronics vertical, discusses the major drivers and key emerging trends that will influence the growth of the global automotive 48V system market during the forecast period. Some of the top vendors listed in this industry analysis include Bosch, Continental, Delphi Automotive, and Valeo.

Among various regions, APAC will be the fastest-growing region in the global market, and is expected to reach over 715,000 unit sales by 2021. The high adoption rate of low-cost 48V systems in several APAC countries such as Japan, India, South Korea, and China will push the market growth during the forecast period.

The UCs, used for energy storage and discharge function in the battery packs of EVs, are gaining traction in the market. UC is an energy storage device which unlike a battery, stores energy through an electric field. As they conduct electricity through an electric field, it can store higher charge quantity as compared to a battery. They have higher energy density, low cost and can recharge the batteries of EVs fast. These advantages have encouraged the use of UCs in 48V systems for fast energy storage,” says Siddarth Jaiswal, a lead analyst at Technavio for research on automotive electronics.

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This new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.

Regulations on carbon emissions and attainment of targets by 2020

The development and adoption of green vehicles are major solutions to bring down GHG levels in the atmosphere to an acceptable level. These vehicles run on alternative sources of energy such as hybrid energy, electricity, and other power sources like solar power, wind energy, and biofuels. Countries globally have come up with stringent emission norms to lower their GHG emissions, which reduces the cause of global warming to an extent. Currently, the key countries and regions that have implemented emission norms include Japan, Europe, South Korea, the US, China, India, and Canada. During the forecast period, Technavio expect Russia, Australia, Mexico, and Brazil to implement emission standards in their respective countries. As the number of countries implementing emission standards increase, the use of 48V system in vehicles will rise subsequently during the forecast period.

Rise in electronic content per vehicle

The implications of electrification vary as per different stakeholders of the supply chain of the market. The percentage of electrical content in vehicles has increased which is due to the customer demand for more electrical and electronic devices for comfort and safety. Electrification of vehicles includes vehicle components such as powertrains, infotainments, connected vehicles, safety systems, and electronics. One of the most critical aspects of adherence to environmental standards is the electrification of the powertrain. Powertrain electrification has paved the way for eco-friendly or green vehicles such as hybrid EVs, EVs, and full-cell EVs.

Demand for low-cost NEVs

With strong regulations from governments that pushes OEMs to develop advanced technology NEVs, most customers look for cost-effective vehicles with improved performance. 48V system vehicles are more cost effective, attaining most of the benefits of a high-voltage hybrid EV at much lower costs. The development of such systems is the main solution to achieve increased sales at the same time satisfying emission regulation levels. Meeting the emission and fuel consumption regulations at the lowest possible cost will increase the user adoption for 48V system vehicles during the forecast period.

Some of the other prominent vendors identified in this report are AVL, Hitachi Automotive Systems, and Schaeffler.

This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.

A more detailed analysis is available in the Technavio report titled, ‘Global Automotive 48V System Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.

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