Global Automotive Power Electronics Market To Grow At Approximately 6.55% CAGR By 2035

Pune, India, December 18, 2017 /MRFR Press Release/- Market Research Future published a half cooked research report on global automotive power electronics market. Automotive Power Electronics market is expected to grow at a CAGR of around 6.55% during the period 2023 to 2035.

Automotive Power Electronics Market Highlights

The global automotive power electronics market has experienced potential growth over the past few years and it has been analyzed that the market will grow at the same pace during the forecast period. Automotive power electronics make use of the solid state circuit device that coverts the current from the source to the load. They are responsible to control power fluctuation in components such as monitoring diodes, and transistors. The major application such as Body Electronics, Chassis & Powertrain, Infotainment & Telematics, and Safety & Security System requires energy conservation for the safety of the system. Power electronics, in automotive, consist of various components such as MCU, power IC, and sensor. Power electronics are mostly used in electric vehicles, but are also installed in passenger car and commercial vehicles so as to protect the systems from power failure. Over the past decade, it has been experienced that the prices of crude oil per barrel is increasing very rapidly and its availability is decreasing day by day. Due to these factors, the preference of the population is shifting towards electric vehicles.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Power Electronics Market Research Report

In the last three to four years, the demand for electric vehicles in the United States has been rapidly increasing, with year-on-year sales growth of 70%. Along with the United States, Norway has also put a step ahead and has shifted more focus towards electric vehicles. As per the market statistics, every third new car is electric and the country has the highest proportion of 6.4% worldwide, followed by Sweden i.e. 3.4%. The growth of electric vehicles is increasing across the globe and since 2014, the sales doubled. As of 2016, near about 777,500 electric vehicles have been sold worldwide. The increase of electric vehicles will be due to increase fuel price, which is expected to result in the growing demand of power electronics. This will result in the growth of the market during the forecast period.

On the basis of region, the market has been segmented as North America, Asia Pacific, Europe, and Rest of the World. North America region is expected to dominate the market during the forecast period due to increase in use of advance technology in electric vehicle in this region. Asia Pacific region is expected to witness the highest growth during forecast period due to increase in sales of electric vehicle in this region. As a result of increasing prosperity in the emerging economies, more and more people are able to own cars, particularly in emerging Asian economies such as China and India. This will result in increased use of power electronics in this region, which will drive the market during the forecast period.

Drivers:

Global Automotive Power Electronics Market Size, 2017-2023(CAGR) 

Scope of the Report

This study provides an overview of the global automotive power electronics market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive Power Electronics market by its type, electric drivetrain type, vehicle type, and region

By Type

• All-wheel drive


• Rear wheel drive


• Front wheel drive

By Electric Drivetrain Type

• BEV


• PHEV


• HEV

By Vehicle Type

• Passenger Cars


• Commercial Vehicles

By Region

• North America


• Europe


• Asia Pacific


• Rest of the World

Key Players:

The key players global automotive power electronics market are 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.).