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Automotive Power Electronics Market Trends

Report ID: GMI6796
Published Date: Sep 2023
Report Format: PDF

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Automotive Power Electronics Market Trends

The automotive power electronics industry is witnessing the rapid adoption of electric vehicles, driven by heightened environmental awareness and government incentives. This surge has fueled the demand for advanced power electronics components, such as inverters and battery management systems, to enhance EV efficiency & range. The emergence of wide-bandgap semiconductor technologies, such as silicon carbide & gallium nitride, is improving power electronics performance, enabling higher power densities and longer battery life. The integration of autonomous driving features, growing interest in connected vehicles, and the continuous push for more energy-efficient solutions further define the evolving landscape of the market.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for automotive power electronics was valued at USD 4.8 billion in 2022 and is anticipated to grow at a CAGR of over 4.5% between 2023 & 2032, backed by the increasing modernization of vehicles.

The power IC segment held a market share of over 70% in 2022 and is expected to grow at a lucrative pace by 2032 as these ICs offer high power density and thermal performance, enabling better energy management in vehicles.

Asia Pacific held a market share of over 30% in 2022 and is poised to generate lucrative growth opportunities as the region, home to major automotive manufacturers & a burgeoning middle class, is witnessing an increased demand for vehicles.

Delphi Technologies, Danfoss, Fuji Electric, Infineon Technologies AG, Maxim Integrated, Mitsubishi Electric Corporation, NXP Semiconductor, ON Semiconductor, Renesas, Robert Bosch GmbH, STMicroelectronics, Texas Instruments, Inc., and Toshiba Corporation among others.