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With a predicted CAGR of 7.7 percent, the worldwide automotive power electronics market is expected to expand from $3.38 billion in 2023 to $4.27 billion in 2031. The market for automotive power electronics will be propelled by the need to comply with forthcoming safety and vehicle emission regulations as well as the growing need for connectivity, infotainment, and electrification of the engine.
The COVID-19 pandemic has caused a standstill in the automobile industry as a whole due to the production suspension of vehicles and difficulties in supply. Automobile original equipment manufacturers (OEMs) will be quite worried about falling car sales in the next quarters. Experts predict that the likelihood of a recovery in automobile sales in 2020 is low. But in 2023, the automotive power electronics industry is predicted to have a major surge thanks to regulations in several nations. Prior to that, the automotive power electronics market is expected to have slow growth in 2021 due to falling vehicle sales and a sudden halt in the development of new automotive technologies.
The use of electrical devices and systems for the regulation and management of electrical energy flows is known as automotive power electronics. In today's vehicles, power electronics are used more frequently to improve the vehicle's performance, efficiency, and safety. In automobile power electronics, inverters, converters, and voltage regulators are some of the most common components. They control a plethora of car systems, including charging the battery, electric power steering, regenerative braking, and more. As more and more people opt for electric and hybrid vehicles, the role of automotive power electronics has grown in significance. When it comes to managing energy usage and powering advanced car components, automotive power electronics play a crucial role. Also, power electronics in cars are going to be super important for transportation in the future.
The rising demand for electric vehicles and the subsequent trend toward electrification in the automotive sector are driving substantial growth in the worldwide automotive power electronics market. But, obstacles that limit the market's growth include high investment prices and an increase in the demand for infrastructure. Alternatively, the market is anticipated to have a plethora of development prospects in the future due to factors such as the increasing demand for electrical components with high efficiency and the advancements in autonomous driving technology. Device, application, drive type, and region are the four main determinants of the automotive power electronics market's segmentation. Two main segments make up the device market: power integrated circuits and module/discrete.
The transportation application of the power electronics market is anticipated to witness substantial growth with the rising production and sales of plug-in hybrid electric vehicles (PHEVs). As the number of charging stations continues to rise, power electronic components including insulated gate bipolar transistors (IGBTs), intelligent power modules (IPMs), and standard & power integrated circuits (PMICs) are becoming more and more common. One of the most significant developments in the fight for environmental preservation is the introduction of electric cars (EVs). Because they run on electricity rather than fossil fuel, they are less harmful to the environment. Because of this, the market for electric vehicles has been expanding rapidly. Electronic gadgets are often used in the production of these vehicles because they are entirely dependent on an electrical power source. There will likely be long-term effects on the power electronics industry from the expansion of the electric vehicle sector.
Increasing complexity in design is a direct outcome of the trend in automotive power electronics toward integrating numerous functions onto a single chip. This change is a result of the industry's push for better, more efficient solutions that are both advanced and affordable. These solutions should decrease switching losses, shrink module size, and increase power efficiency. The high switching frequency of these technologically advanced devices, however, presents unique design difficulties. The overall performance of the control structure is impacted by the switching speed, which is decreased by the complex design structure of control algorithms. The cooling of certain gadgets is another issue that design engineers face.
Report Coverage
Global Automotive Power Electronics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Power Electronics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Power Electronics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Power Electronics market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Power Electronics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Power Electronics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Infineon Technologies AG (Germany), Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Renessa Electronics Corp. (Japan), Mitsubishi Heavy Industries Ltd. (Japan), Maxim Products Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), Qualcomm Ins. (U.S.), Robert Bosch GmbH (Germany), and Vishay Intertechnology Inc. (U.S.).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Automotive Power Electronics market based on the below-mentioned segments:
Global Automotive Power Electronics Market, By Drive Type
ICE Vehicle
Electric Vehicle
Global Automotive Power Electronics market, By Application
Chassis and Powertrain
Safety and Security System
Infotainment and Telematics
Body Electronics
Others
Global Automotive Power Electronics Market, By Device
Power IC
Module/Discrete
Global Automotive Power Electronics market, Regional Analysis
The COVID-19 pandemic has caused a standstill in the automobile industry as a whole due to the production suspension of vehicles and difficulties in supply. Automobile original equipment manufacturers (OEMs) will be quite worried about falling car sales in the next quarters. Experts predict that the likelihood of a recovery in automobile sales in 2020 is low. But in 2023, the automotive power electronics industry is predicted to have a major surge thanks to regulations in several nations. Prior to that, the automotive power electronics market is expected to have slow growth in 2021 due to falling vehicle sales and a sudden halt in the development of new automotive technologies.
The use of electrical devices and systems for the regulation and management of electrical energy flows is known as automotive power electronics. In today's vehicles, power electronics are used more frequently to improve the vehicle's performance, efficiency, and safety. In automobile power electronics, inverters, converters, and voltage regulators are some of the most common components. They control a plethora of car systems, including charging the battery, electric power steering, regenerative braking, and more. As more and more people opt for electric and hybrid vehicles, the role of automotive power electronics has grown in significance. When it comes to managing energy usage and powering advanced car components, automotive power electronics play a crucial role. Also, power electronics in cars are going to be super important for transportation in the future.
The rising demand for electric vehicles and the subsequent trend toward electrification in the automotive sector are driving substantial growth in the worldwide automotive power electronics market. But, obstacles that limit the market's growth include high investment prices and an increase in the demand for infrastructure. Alternatively, the market is anticipated to have a plethora of development prospects in the future due to factors such as the increasing demand for electrical components with high efficiency and the advancements in autonomous driving technology. Device, application, drive type, and region are the four main determinants of the automotive power electronics market's segmentation. Two main segments make up the device market: power integrated circuits and module/discrete.
The transportation application of the power electronics market is anticipated to witness substantial growth with the rising production and sales of plug-in hybrid electric vehicles (PHEVs). As the number of charging stations continues to rise, power electronic components including insulated gate bipolar transistors (IGBTs), intelligent power modules (IPMs), and standard & power integrated circuits (PMICs) are becoming more and more common. One of the most significant developments in the fight for environmental preservation is the introduction of electric cars (EVs). Because they run on electricity rather than fossil fuel, they are less harmful to the environment. Because of this, the market for electric vehicles has been expanding rapidly. Electronic gadgets are often used in the production of these vehicles because they are entirely dependent on an electrical power source. There will likely be long-term effects on the power electronics industry from the expansion of the electric vehicle sector.
Increasing complexity in design is a direct outcome of the trend in automotive power electronics toward integrating numerous functions onto a single chip. This change is a result of the industry's push for better, more efficient solutions that are both advanced and affordable. These solutions should decrease switching losses, shrink module size, and increase power efficiency. The high switching frequency of these technologically advanced devices, however, presents unique design difficulties. The overall performance of the control structure is impacted by the switching speed, which is decreased by the complex design structure of control algorithms. The cooling of certain gadgets is another issue that design engineers face.
Report Coverage
Global Automotive Power Electronics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Power Electronics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Power Electronics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Power Electronics market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Infineon Technologies AG (Germany), Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Renessa Electronics Corp. (Japan), Mitsubishi Heavy Industries Ltd. (Japan), Maxim Products Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), Qualcomm Ins. (U.S.), Robert Bosch GmbH (Germany), and Vishay Intertechnology Inc. (U.S.). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Automotive Power Electronics Market from 2021 to 2031.
- Market Forecast for Automotive Power Electronics Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Automotive Power Electronics competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Automotive Power Electronics
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Power Electronics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Power Electronics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Infineon Technologies AG (Germany), Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Renessa Electronics Corp. (Japan), Mitsubishi Heavy Industries Ltd. (Japan), Maxim Products Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), Qualcomm Ins. (U.S.), Robert Bosch GmbH (Germany), and Vishay Intertechnology Inc. (U.S.).
Primary Target Market
- Market Players of Automotive Power Electronics
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Automotive Power Electronics market based on the below-mentioned segments:
Global Automotive Power Electronics Market, By Drive Type
ICE Vehicle
Electric Vehicle
Global Automotive Power Electronics market, By Application
Chassis and Powertrain
Safety and Security System
Infotainment and Telematics
Body Electronics
Others
Global Automotive Power Electronics Market, By Device
Power IC
Module/Discrete
Global Automotive Power Electronics market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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