Automotive Power Electronics Market
Automotive Power Electronics Market Forecasts to 2030 - Global Analysis By Vehicle Type (Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Electric Vehicles (PHEVs), Fuel Cell Electric Vehicles (FCEVs) and Other Vehicle Types), Component Type, Material Type, Application and By Geography
According to Stratistics MRC, the Global Automotive Power Electronics Market is accounted for $4.9 billion in 2024 and is expected to reach $7.2 billion by 2030 growing at a CAGR of 6.7% during the forecast period. Automotive power electronics is the specialized components and systems that control and convert electrical power within vehicles. These systems are crucial in managing the power flow to various vehicle subsystems, such as electric motors, inverters, converters, and battery management systems. Automotive power electronics play a key role in the efficiency and performance of electric and hybrid vehicles by optimizing energy usage, enhancing battery life, and ensuring smooth operation of electronic systems, thereby supporting the transition to more sustainable and efficient transportation solutions.
According to the company, the scenario could be worse in Q2 as global vehicle production is expected to fall by 50-60%.
Market Dynamics:
Driver:
Increasing vehicle electrification
The increasing vehicle electrification is driving significant growth in the market, as modern vehicles rely more on electrical systems for propulsion, safety, and convenience. As electric and hybrid vehicles become more prevalent, the demand for advanced power electronics is rising. These components are essential for efficiently managing energy, reducing emissions, and improving overall vehicle performance, making power electronics a critical factor in the evolution towards cleaner, more efficient transportation.
Restraint:
Complexity of integration
The complexity of integrating automotive power electronics poses significant challenges, leading to potential negative effects. As vehicles incorporate more advanced electronic systems, the difficulty of ensuring seamless communication and compatibility between components rises. This complexity can result in software glitches, system failures, and maintenance issues, which may compromise vehicle performance and safety. Additionally, it can hinder the speed of innovation, delaying the deployment of new technologies in the market.
Opportunity:
Consumer preference for advanced features
Consumer preference for advanced features is driving the demand for innovative automotive power electronics, as drivers increasingly seek enhanced connectivity, safety, and convenience in their vehicles. Features like advanced driver-assistance systems (ADAS), electric powertrains, and sophisticated infotainment systems rely heavily on cutting-edge power electronics to function efficiently. This shift in consumer expectations is pushing automakers to integrate more complex and powerful electronic systems, leading to a competitive market.
Threat:
Competition from alternative technologies
Competition from alternative technologies poses a significant challenge to automotive power electronics, potentially limiting market growth and innovation. As emerging technologies like hydrogen fuel cells and advanced battery systems gain traction, they may reduce the reliance on traditional power electronics components. This competition can lead to reduced investment in power electronics, slowing the pace of advancements and increasing the risk of obsolescence.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the market, disrupting global supply chains and slowing production due to lockdowns and reduced workforce availability. The economic uncertainty led to decreased consumer demand for vehicles, particularly affecting the electric and hybrid segments. However, the pandemic also accelerated the shift towards digitalization and electrification, as automakers sought to innovate and adapt, ultimately driving long-term growth and resilience in the automotive power electronics sector.
The battery electric vehicles (BEVs) segment is expected to be the largest during the forecast period
The battery electric vehicles (BEVs) is expected to be the largest during the forecast period. Power electronics in BEVs are crucial for controlling the flow of electricity between the battery, motor, and other vehicle systems, ensuring efficient energy use and optimal performance. As BEVs gain popularity due to environmental concerns and regulatory pressures, the demand for advanced power electronics is increasing, driving innovation and shaping the future of the automotive industry.
The safety and security systems segment is expected to have the highest CAGR during the forecast period
The safety and security systems segment is expected to have the highest CAGR during the forecast period as vehicles incorporate more advanced electronic controls. These systems, including electronic stability control, anti-lock braking, and advanced driver-assistance systems (ADAS), rely heavily on robust power electronics to function effectively. Ensuring the reliability and integrity of these systems is crucial for preventing accidents and protecting occupants.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. With increasing adoption of electric and hybrid vehicles, demand for components like inverters, converters, and battery management systems is on the rise. The region’s focus on innovation, supported by significant investments in research and development, is also fueling advancements in power electronics, positioning the region as a key player in the global automotive industry’s transition to more efficient and sustainable transportation.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. Innovations in semiconductor materials, such as silicon carbide (SiC) and gallium nitride (GaN), are enhancing the efficiency and performance of power electronics. These materials are increasingly being integrated into automotive systems to improve energy efficiency. Government initiatives, subsidies, and regulations aimed at reducing carbon emissions are accelerating this trend.
Key players in the market
Some of the key players in Automotive Power Electronics market include Infineon Technologies AG, Texas Instruments Incorporated, NXP Semiconductors N.V., STMicroelectronics N.V., ON Semiconductor Corporation, Robert Bosch GmbH, Continental AG, Mitsubishi Electric Corporation, Hitachi, Ltd., Toshiba Corporation, Delphi Technologies, Fuji Electric Co., Ltd., Eaton Corporation, Yazaki Corporation, Schneider Electric SE, Panasonic Corporation, Denso Corporation and Microchip Technology Inc.
Key Developments:
In July 2024, Infineon Technologies AG and Swoboda collaborated to create and promote advanced current sensor modules specifically designed for automotive applications. The collaboration merges Infineon’s top-notch current sensor integrated circuits (ICs) with Swoboda’s specialized knowledge in sensor module development and commercialization.
In April 2024, Infineon expanded automotive offering with programmable high voltage PSoC™ 4 HVMS family for touch-enabled HMI and other smart sensing applications. The PSoC 4 HVMS family is AEC-Q100 qualified and offered in small footprint QFN packages with wettable flanks. The ICs offer scalability and pin compatibility across devices.
Vehicle Types Covered:
• Battery Electric Vehicles (BEVs)
• Hybrid Electric Vehicles (HEVs)
• Plug-in Hybrid Electric Vehicles (PHEVs)
• Fuel Cell Electric Vehicles (FCEVs)
• Other Vehicle Types
Component Types Covered:
• Power Modules
• Power Discrete Devices
• Power ICs
Material Types Covered:
• Silicon (Si)
• Silicon Carbide (SiC)
• Gallium Nitride (GaN)
• Gallium Arsenide (GaAs)
Applications Covered:
• Powertrain and Chassis
• Body Electronics
• Safety and Security Systems
• Infotainment and Telematics
• Electric Vehicle Charging
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalr
5 Global Automotive Power Electronics Market, By Vehicle Type
5.1 Introduction
5.2 Battery Electric Vehicles (BEVs)
5.3 Hybrid Electric Vehicles (HEVs)
5.4 Plug-in Hybrid Electric Vehicles (PHEVs)
5.5 Fuel Cell Electric Vehicles (FCEVs)
5.6 Other Vehicle Types
6 Global Automotive Power Electronics Market, By Component Type
6.1 Introduction
6.2 Power Modules
6.2.1 Intelligent Power Modules (IPMs)
6.2.2 Power Integrated Modules (PIMs)
6.3 Power Discrete Devices
6.3.1 Metal-Oxide-Semiconductor Field-Effect Transistors (MOSFETs)
6.3.2 Insulated-Gate Bipolar Transistors (IGBTs)
6.3.3 Diodes
6.4 Power ICs
6.4.1 Gate Drivers
6.4.2 Integrated Circuits (ICs)
7 Global Automotive Power Electronics Market, By Material Type
7.1 Introduction
7.2 Silicon (Si)
7.3 Silicon Carbide (SiC)
7.4 Gallium Nitride (GaN)
7.5 Gallium Arsenide (GaAs)
8 Global Automotive Power Electronics Market, By Application
8.1 Introduction
8.2 Powertrain and Chassis
8.3 Body Electronics
8.4 Safety and Security Systems
8.5 Infotainment and Telematics
8.6 Electric Vehicle Charging
8.7 Other Applications
9 Global Automotive Power Electronics Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Infineon Technologies AG
11.2 Texas Instruments Incorporated
11.3 NXP Semiconductors N.V.
11.4 STMicroelectronics N.V.
11.5 ON Semiconductor Corporation
11.6 Robert Bosch GmbH
11.7 Continental AG
11.8 Mitsubishi Electric Corporation
11.9 Hitachi, Ltd.
11.10 Toshiba Corporation
11.11 Delphi Technologies
11.12 Fuji Electric Co., Ltd.
11.13 Eaton Corporation
11.14 Yazaki Corporation
11.15 Schneider Electric SE
11.16 Panasonic Corporation
11.17 Denso Corporation
11.18 Microchip Technology Inc.
List of Tables
1 Global Automotive Power Electronics Market Outlook, By Region (2022-2030) ($MN)
2 Global Automotive Power Electronics Market Outlook, By Vehicle Type (2022-2030) ($MN)
3 Global Automotive Power Electronics Market Outlook, By Battery Electric Vehicles (BEVs) (2022-2030) ($MN)
4 Global Automotive Power Electronics Market Outlook, By Hybrid Electric Vehicles (HEVs) (2022-2030) ($MN)
5 Global Automotive Power Electronics Market Outlook, By Plug-in Hybrid Electric Vehicles (PHEVs) (2022-2030) ($MN)
6 Global Automotive Power Electronics Market Outlook, By Fuel Cell Electric Vehicles (FCEVs) (2022-2030) ($MN)
7 Global Automotive Power Electronics Market Outlook, By Other Vehicle Types (2022-2030) ($MN)
8 Global Automotive Power Electronics Market Outlook, By Component Type (2022-2030) ($MN)
9 Global Automotive Power Electronics Market Outlook, By Power Modules (2022-2030) ($MN)
10 Global Automotive Power Electronics Market Outlook, By Intelligent Power Modules (IPMs) (2022-2030) ($MN)
11 Global Automotive Power Electronics Market Outlook, By Power Integrated Modules (PIMs) (2022-2030) ($MN)
12 Global Automotive Power Electronics Market Outlook, By Power Discrete Devices (2022-2030) ($MN)
13 Global Automotive Power Electronics Market Outlook, By Metal-Oxide-Semiconductor Field-Effect Transistors (MOSFETs) (2022-2030) ($MN)
14 Global Automotive Power Electronics Market Outlook, By Insulated-Gate Bipolar Transistors (IGBTs) (2022-2030) ($MN)
15 Global Automotive Power Electronics Market Outlook, By Diodes (2022-2030) ($MN)
16 Global Automotive Power Electronics Market Outlook, By Power Ics (2022-2030) ($MN)
17 Global Automotive Power Electronics Market Outlook, By Gate Drivers (2022-2030) ($MN)
18 Global Automotive Power Electronics Market Outlook, By Integrated Circuits (ICs) (2022-2030) ($MN)
19 Global Automotive Power Electronics Market Outlook, By Material Type (2022-2030) ($MN)
20 Global Automotive Power Electronics Market Outlook, By Silicon (Si) (2022-2030) ($MN)
21 Global Automotive Power Electronics Market Outlook, By Silicon Carbide (SiC) (2022-2030) ($MN)
22 Global Automotive Power Electronics Market Outlook, By Gallium Nitride (GaN) (2022-2030) ($MN)
23 Global Automotive Power Electronics Market Outlook, By Gallium Arsenide (GaAs) (2022-2030) ($MN)
24 Global Automotive Power Electronics Market Outlook, By Application (2022-2030) ($MN)
25 Global Automotive Power Electronics Market Outlook, By Powertrain and Chassis (2022-2030) ($MN)
26 Global Automotive Power Electronics Market Outlook, By Body Electronics (2022-2030) ($MN)
27 Global Automotive Power Electronics Market Outlook, By Safety and Security Systems (2022-2030) ($MN)
28 Global Automotive Power Electronics Market Outlook, By Infotainment and Telematics (2022-2030) ($MN)
29 Global Automotive Power Electronics Market Outlook, By Electric Vehicle Charging (2022-2030) ($MN)
30 Global Automotive Power Electronics Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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