Automotive Power Electronics
Market Overview:
The global automotive
power electronics market 2022 is slated to mature at a CAGR of 5.12% and reach
USD 7.8 million by 2030,
recent years, the
global automotive power electronics market has witnessed significant growth
potential. Analytical projections indicate that this growth trajectory is
likely to continue over the forecast period. Several factors have fueled this
expansion in the automotive electronics industry. Notably, there is a
heightened demand for innovative technologies within vehicles, driven by
concerns about the environment. This has led to a notable surge in the adoption
of electric vehicles (EVs), consequently boosting the market for automotive
power electronics.
The surge in EVs,
which heavily rely on power electronics for safe and efficient operation, has
spurred advancements in various technologies. These include electronic
stability control (ESC), advanced driver assistance systems (ADAS), and
electronic control units (ECUs). The increased integration of power electronics
within automobiles has played a pivotal role in driving these technological
breakthroughs.
Over the projected
period, the growth in the utilization of power electronics in the realm of
electric vehicles has played a pivotal role in shaping technological
advancements. The escalating concerns regarding environmental issues, chiefly
stemming from pollution, have notably amplified the demand for electric cars.
This uptick in demand has, in turn, propelled the adoption of power
electronics, thus steering the market's expansion.
Competitive Dashboard
The key players global automotive
power electronics market size are Texas Instruments Inc. (U.S.), Infineon Technologies
AG (Germany), Qualcomm Ins. (U.S.), ON Semiconductor Corp. (U.S.), Renessa
Electronics Corp. (Japan), Mitsubishi Heavy Industries Ltd. (Japan), NXP
Semiconductors N.V. (Netherlands), Maxim Products Inc. (U.S.), Robert Bosch
GmbH (Germany), and Vishay Intertechnology Inc. (U.S.).
Automotive Power Electronics Market Companies Details
Segmental Analysis
Based on the feature, function, vehicle
model, and area, the automotive power electronics market has been segmented.
The market has been segmented as MCU, Control IC, and Sensor on a part basis.
During the forecast era, the sensor segment is expected to experience the
highest growth since it is the main component of electric vehicles.
Sensors are used mostly in ADAS, Electronic
Stability Control (ESC) and Electronic Unit of Control (ECU) systems, which are
leading technologies used in electric vehicles.
The market has been segmented as chassis
& powertrain, body electronics, infotainment & telematics, and
protection & security systems, based on applications. Due to increasing
government regulations and the initiative to adopt smart transportation
solutions with advanced safety features, the body electronics segment is
expected to dominate the market during the forecast period.
Due to increasingly growing sales of
electric vehicles, the passenger car segment is expected to dominate the market
during the forecast period based on the vehicle model.
Regional Synopsis
North America, Asia Pacific , Europe, and
the rest of the world are segmented on a region-based basis.
North America is expected to lead the car
industry for power electronics since the U.S. has invested the most on
battery-operated electric cars in North America.
Due to the increased acceptance of emerging
technologies in electric vehicles, Asia Pacific is anticipated to have the
largest market share during the forecast period. This would increase demand for
power electronics, which is projected to lead to industry growth over the
forecast period.
In Europe, countries such as the United
Kingdom, Germany, France and Italy have made significant strides to improve
technologies in the automobile field. This development in technology has
resulted in the growth of the market during the forecast period.
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