The global automotive power electronics market size 2023 is slated to mature at a CAGR of 5.12% by2030
Automotive Power Electronics Market highlights
Over the past few years, the global automotivepower electronics market has experienced potential growth and the market has
been analysed to expand at the same rate during the forecast period. Increased
demand for new technologies in cars, increasing environmental issues leading to
an increased usage of electric vehicles and increased protection of electronic
control panels in vehicles are the reasons responsible for the growth of the
automotive electronics industry.
In electric vehicles, which need powerelectronics for system safety, advancements in technologies such as electronic
stability control (ESC), advanced driver assistance systems ( ADAS), and
electronic control units (ECU) have emerged.
The growth in the use of power electronics incars has contributed to this development in technology. During the projected
era, the rise in the use of power electronics in electric vehicles resulted in
market development. The rising environmental problem caused by pollution has
contributed to increased demand for electric cars. Increasing demand for
electric vehicles has led to an increase in the use of power electronics, which
will drive the market. The price of crude oil per barrel has risen very
steadily over the last decade, and its supply has declined day by day. Because
of these reasons, the population's demand for electric cars is changing.
Automotive Power Electronics Market CompetitiveDashboard
- 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)
- Vishay Intertechnology Inc. (U.S.).
Automotive Power Electronics Market SegmentalAnalysis
Based on the feature, function, vehicle model,and area, the automotive power electronics market size has been segmented. The market has been segmented asMCU, 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, ElectronicStability 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 electricvehicles, the passenger car segment is expected to dominate the market during
the forecast period based on the vehicle model.
Automotive Power Electronics Market RegionalSynopsis
North America, Asia Pacific , Europe, and therest of the world are segmented on a region-based basis.
North America is expected to lead the carindustry 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 emergingtechnologies 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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