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Automotive Power Discrete Market Size
Automotive power discrete market size is expected to increase considerably between 2024 and 2032, driven by the rapid advancement of compound semiconductor devices like silicon carbide and the escalating use of discrete power electronics in automotive applications.
According to Reuters report, in 2023, out of the total 13.6 million electric vehicles (EVs) sold globally, fully electric or battery electric vehicles (BEVs) comprised 9.5 million units, while plug-in hybrid electric vehicles (PHEVs) made up the remaining portion. the ever-growing number of electric vehicles and the subsequent need for discrete products with high power density to boost the efficiency of battery charging systems will contribute to industry expansion by 2032.
The automotive power discrete industry thrives on devices engineered for robust, reliable, and energy-efficient power applications. Specifically, automotive-grade power discrete devices feature ultrafast diodes tailored for DC-DC converters and rectification within OBS (onboard-charger) solutions on the secondary side. These components play a critical role in enhancing the performance and efficiency of automotive power systems, meeting the stringent demands of modern vehicle designs for increased power density, reliability, and overall performance. Silicon-based IGBT discrete, for example, has been the device of choice for use in medium-voltage automotive applications.
Automotive Power Discrete Market Trend
Key trends include the rising adoption of silicon carbide (SiC) and gallium nitride (GaN) materials for improved efficiency and performance, integration of power discretes for compactness, and the emergence of wide-bandgap semiconductors. Moreover, the shift towards autonomous driving features necessitates higher power handling capabilities. The growing focus on sustainability and energy efficiency is fostering the development of innovative power discrete solutions, shaping the trajectory of the automotive sector. These factors will combinedly influence the market outlook in the coming years.
Automotive Power Discrete Market Analysis
In terms of product, the SiC segment will foresee appreciable gains by 2032, due to the increasing availability of next-generation SiC discrete products for electric car applications. For instance, in December 2022, STMicroelectronics, a semiconductor company that serves clients in the electronics industry, introduced high-power modules for electric cars that increase performance and range. This innovative silicon-carbide (SiC) power module has been chosen for Hyundai's E-GMP electric vehicle platform, which is shared by the KIA EV6 and many other cars.
The passenger vehicle segment is set to exhibit a robust growth rate up to 2032, supported by the rising need for safety systems and fuel-efficient technology associated with vehicle power trains. Since consumer preferences have changed in recent years, a range of safety, luxury, entertainment, and vehicle control systems have been implemented into passenger automobiles. The increasing population in emerging economies is urging OEMs to offer specialized features in new passenger car models, thereby fueling market development through 2032.
Europe automotive power discrete market is poised to hold a substantial revenue share by 2032, as a result of the implementation of sustainable and long-term strategies to ramp up semiconductor production. According to the European Automobile Manufacturers' Association, in 2022, new battery electric car registrations in the EU increased from October to December by 31.6% to 406,890 units, with growth witnessed across major countries. The escalating adoption of electric vehicles will therefore drive the market demand in Europe industry.
Automotive Power Discrete Market Share
Some of the leading companies operating in the automotive power discrete industry are:
- STMicroelectronics
- Rohm Semiconductor
- Infineon Technologies AG
These participants are focusing on varied strategies, such as collaborations, new product launches, and acquisitions, to reinforce their presence in the competitive market.
Automotive Power Discrete Industry News
- In September 2022, Onsemi, a pioneer in intelligent power and sensor technologies, introduced three silicon carbide (SiC)-based power modules in a transfer molded technology for on-board charging and high voltage DC-DC conversion in electric cars (xEV).
- In July 2023, Nexperia, renowned for its expertise in semiconductors, unveiled a series of 600 V devices, commencing with the 30 A NGW30T60M3DF model. This expansion of Nexperia's portfolio caters to the increasing need for effective, high-voltage switching components, accommodating various performance levels and cost considerations.