Automotive 48 Volt Battery System Market Strong Development By Major Eminent Players, Emerging Technology Trends

Transparency Market Research has published a new report titled, “Automotive 48 Volt Battery System Market (Electric Vehicle Type, Vehicle, Components, and Region) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026”. According to the report, the global automotive 48 volt battery system market is anticipated to surpass US$ 1.7 Bn by 2026, expanding at a CAGR of more than 65% during the forecast period.

The market for hybrid and electric vehicles is anticipated to expand at a significant growth rate during the forecast period owing to rising stringency of emission norms and increasing pollution levels in the environment. Air pollution harms human health, particularly of those already vulnerable owing to their age or existing health problems. Consequently, responsible authorities are taking several steps to minimize pollution levels across the globe. Furthermore, integration of the 48 volt battery system in hybrid vehicles reduces emission.

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Rising demand for environment-friendly vehicles is likely to boost the market for automotive 48 volt battery systems. Expanding market for fuel efficient vehicles and the low cost of hybrid vehicle are likely to boost the market for 48 volt battery system market. Most manufacturers are likely to adopt the 48 volt battery system in their mild hybrid vehicles in order to enhance performance and efficiency of their previous version of mild hybrid vehicles. The 48 volt battery system can operate the electric supercharger, safety modules, and other electric components installed in the vehicle without any disturbance and power lag, as it has higher capability of energy recuperation and storage. Furthermore, the 48 volt battery system is backed by a 12 volt battery that supports the system as a backup unit in critical situations.