Portland, OR, Jan. 13, 2021 (GLOBE NEWSWIRE) — Based on the report revealed by Allied Market Analysis, the worldwide automotive 48V system market generated $2.22 billion in 2019, and is estimated to succeed in $21.00 billion by 2027, registering a CAGR of 26.5% from 2020 to 2027. The report presents an intensive evaluation of adjusting market dynamics, key profitable methods, enterprise efficiency, main segments, and aggressive eventualities.
Surge in demand for 48V system to spice up the efficiency of car engine drives the expansion of the worldwide automotive 48V system market. Nonetheless, rise in automobile value with installationof 48V system is anticipated to restrain the market development. Moreover, rising demand for consolation and superior safetry options in autos is anticipated to supply new development alternatives throughout the forecast interval.
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COVID-19 State of affairs:
- Main automotive 48V system manufactrurers throughout the globe have shut down their manufacturing actions in as a consequence of disrupted provide chain and unavailability of expert labor amid lockdown throughout the Covid-19 pandemic.
- Frequent lockdown extension to curb the unfold of Covid-19 throughout numerous nations similar to India, the U.S., China, the U.Okay., and Italy has negatively affected the manufacturing and sale of entry and mid dimension vehicles, as a consequence of which, the demand for automotive 48V system is anticipated to say no.
The report presents an in depth segmentation of the worldwide automotive 48V system market based mostly on structure, automobile class, and area.
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Based mostly on structure, the belt pushed phase contributed to the most important share in 2019, accounting for greater than two-fifths of the overall share, and is estimated to keep up its dominant place throughout the forecast interval. Nonetheless, the transmission output shaft phase is estimated to painting the very best CAGR of 30.5% throughout the forecast interval.
Based mostly on automobile class, the mid phase accounted for the most important share in 2019, holding almost two-fifths of the overall share, and is anticipated to keep up the most important share all through the forecast interval. Nonetheless, the entry phase is anticipated to register the very best CAGR of 27.7% from 2020 to 2027.
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Based mostly on area, Asia-Pacific contributed the very best share, accounting for greater than two-fifths of the overall market share in 2019, and can preserve its dominance all through the forecast interval. Nonetheless, Europe is anticipated to develop on the highest CAGR of 27.4% from 2020 to 2027.
Main market gamers analyzed within the analysis embrace Robert Bosch GmbH, BorgWarner Inc., Dana Restricted, Continental AG, GKN (Melrose Industries PLC), Delphi Applied sciences, Magna Worldwide Inc., Lear Company, Valeo SA, and Mahle Powertrain Ltd.
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About Allied Market Analysis
Allied Market Analysis (AMR) is a full-service market analysis and business-consulting wing of Allied Analytics LLP, based mostly in Portland, Oregon. AMR supplies world enterprises in addition to medium and small companies with unmatched high quality of “Market Analysis Reviews” and “Enterprise Intelligence Options.” AMR has a focused view to supply enterprise insights and consulting to help its purchasers to make strategic enterprise choices and obtain sustainable development of their respective market area.
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