Automotive Power Electronics Market Pin-Point Analyses Of Market Competition Dynamics To Offer You A Competitive Edge 2017 - 2025

 

Global Automotive Power Electronics Market: Overview

Products in the global automotive power electronics market, such as modules, discrete, and power ICs have various applications in the automotive industry. These include body electronics, security electronics, powertrain, and safety electronics. Used in both passenger as well as commercial vehicles, products in the global automotive power electronics market can be applied in both, electric vehicles as well as internal combustion or IC engine operated vehicles. Increasing need for compliance with emerging vehicle emission as well as vehicle safety standards along with rising demand for vehicle infotainment, powertrain electrification, and connectivity are two major factors driving the growth in the global automotive power electronics market within the next few years.

On the other hand, the COVID-19 pandemic and subsequent lockdowns adversely impacted the automotive industry across the world. This trend can be attributed to the disruptions in large scale manufacturing, interruptions in supply chain activities, restrictions on travelling, and diminishing sales of automotive vehicles on 2020. These factors have also restricted the growth in the global automotive power electronics market as a result. Furthermore, halt in export of raw materials from China as well as China-U.S. trade war had also negatively impacted the revenue generation in the global automotive power electronics market in late 2020. However, the global automotive power electronics market is anticipated to regain its momentum over the next few years.

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Increasing demand for electric vehicles is expected to positively influence the growth in the global automotive power electronics market in coming years. Furthermore, rising demand for fuel efficient technologies as well as high performance safety systems in passenger vehicles may also favor the expansion of the global automotive power electronics market within the next few years. Furthermore, rising demand for various vehicle management features and increased safety is also positively influencing the demand dynamics in the global automotive power electronics market. Players and manufacturers operating within the global automotive power electronics market are engaged in portfolio expansion as well as increasing their investments aimed at research and development activities in order to design and produce technologically advanced products.

Global Automotive Power Electronics Market: Snapshot

The global automotive power electronics market is gaining from the rising sales of electric vehicles for environmental considerations. Several governments in the world are encouraging the adoption of electric vehicles as they do not emit harmful emissions that are detrimental to the environment. For instance, in the U.K, the sale of petrol and diesel cars is anticipated to be banned by 2040 as the government is undertaking consistent efforts to improve the air quality.

Apart from this, thrust to equip vehicles with advanced power solutions is stoking growth of automotive power electronics market. This includes advanced driver assistance systems and convenience systems to enhance vehicular safety and to track vehicle in real-time.

A report by Transparency Market Research (TMR) projects the global automotive power electronics market to clock an impressive 19.0% CAGR between 2017 and 2025, for the market to reach a valuation of US$22,658.4 mn by the end of 2025.

Get More Press Releases by TMR:  https://www.globenewswire.com/news-release/2022/03/02/2395584/0/en/Autonomous-Car-Market-to-Cross-US-206-94-Bn-by-2031-Benefits-of-Superior-Safety-Features-in-Utility-Vehicles-to-Bolster-Sales-Revenues-Finds-TMR-Study.html

global automotive power electronics market

Passenger Cars to Remain Attractive due to Government Norms in Developed Countries to Enhance Vehicular Safety

The global automotive power electronics market is segmented on the basis of electric vehicle, vehicle type, application, and geography. On the basis of electric vehicle, the segments of the market include battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. Amongst them, in 2016, the hybrid electric vehicles (HEV) segment held the leading share of the market as it plays a key role in decarbonizing the transport sector and in reducing dependence on fossil fuels. Going forward, the hybrid electric vehicles segment is likely to hold a key share in the global automotive power electronics market over the forecast period. However, plug-in hybrid electric vehicles (PHEV) is projected to expand at a relatively significant growth rate in the automotive power electronics market over the forecast period.

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Europe to Contribute Substantially through 2025

Geography-wise, the global automotive power electronics market is bifurcated into North America, Asia Pacific, Europe, the Middle East and Africa, and South America. Asia Pacific, amongst all, is anticipated to display the leading growth rate of 20.3% between 2017 and 2025. Europe, on the other hand, is anticipated to display second-leading growth rate owing to government initiatives that encourage adoption of smart transportation solutions.

Prominent participants in the global automotive power electronics market include Infineon Technologies AG, Texas Instruments Inc., ON Semiconductor Corp., Renessa Electronics Corp., Mitsubishi Heavy Industries Ltd., Maxim Products Inc., NXP Semiconductors N.V., Qualcomm Ins., Robert Bosch GmbH, and Vishay Intertechnology Inc.

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