Mat fitness is fairly specific...and if you're not doing a lot of randori / sparring, I can see the argument for kettlebells. If you are doing rounds, I'd hazard a guess that typical kettlebell work outs (hi rep stuff like 10 minute SSST) is going to significantly cut into your recovery - and therefore, next day mat performance.
Taking that off the table, there are two other prime advantages of KBs:
1) power development (where power = force x velocity)
2) convenience.
Certainly, power can be increased via KBs (see:
http://www.ncbi.nlm.nih.gov/pubmed/22344061
Obviously, the power output increase is not as high as with weightlifting but that's the price you pay for the convenience of a kbell. Again, one could argue that this could be enhanced by using, say, bands. OTOH, the high rep nature of most kbell routines makes them prime candidates for causing DOMS...which impedes next day grappling.
It could very well be that a low rep routine of swings (say, 7 sets x 5 reps) with bands might do something comparable to 30% 1RM jump squat training (a known way to significantly increase vertical jump height and 40 yard dash - IOW lower limb power).
Clinically (I'm a PT and a EP), I like Kbells because (a) they're convenient (b) non threatening (c) provide good variety (d) allow novel movements. (e) convenience leads to compliance (f) strength training. These are not trivial benefits at all; I like them a lot.
However, if I was looking to improve someone's power output (say, mine) for grappling, I'd go for plyometrics or speed lifts. If I wanted to improve V02 max, I'd use an ergocycle. And strength - barbells (or some variation of bodyweight / band training).
Kbells occupy a strange mid-point. I like them...but....I don't think they quite hit the spot for grapplers (In fairness, that's a pretty big bucket, so YMMV). OTOH...the convenience of them might just make them 'good enough'.
PS: 48kg kbell is pretty damn impressive!