Global Automotive Power Electronics in Electric Vehicles Market - Growth, Trends, and Forecast (2019 - 2024)

Global Automotive Power Electronics in Electric Vehicles Market - Growth, Trends, and Forecast (2019 - 2024)

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The global automotive power electronics in electric vehicles market is expected to register a CAGR of 17.2% during the forecast period (2018 - 2023). The increase in the sale of electric and hybrid vehicles is anticipated to drive the power electronics market in the coming five years. Electric vehicles have already gathered huge popularity globally, especially from the European and North American countries.

Growing Electric Vehicles Sales Driving the Demand for Power Electronics Market

Growing awareness regarding vehicle emissions and increase in the government initiative to encourage the use of electric vehicles is driving the growth of electric vehicles and in turn, the market for power electronics in EVs.

China is leading in electric vehicle sales across the world, which recorded 336,000 sales of battery electric vehicles and plug-in hybrid vehicles in 2016 and continued to see increased sales in the following years, owing to the increasing electric buses for public transport.

                                      

Source: IEA / Mordor Intelligence Analysis

The advent of high power switching devices has brought about a wide range of comprehensive application of electronic converters for energy conversion and motion control in an electric vehicle. Electric vehicles are now employing high voltage power electronics for the traction drive motors. The power electronics constitute around 30% of the total cost of an electric vehicle.

Increasing Demand for Light Weight Switching Power Supplies in Electric Vehicles

The development of a reliable lightweight switching power supplies would likely help to drive the power electronics in electric vehicles. The adaption of electronics in powertrain systems on electric vehicle concepts is primarily augmented by the increased efforts of the regional governments and environmental agencies (EPA) to lower emission levels during the last two years. Inverters and power converters account for the majority in the power electronics of an electric vehicle market. The demand for lightweight, multi portable devices that are likely to drive the growth of advanced power electronics significantly. Growing demand for electric passenger and light commercial vehicles from the developing economies, such as China, India, and the Latin American countries (Brazil and Mexico) are anticipated to drive the growth of the market during the forecasted period. However high cost associated with electric vehicles will slightly hinder the growth of the power electronics market. 

Key Developments of the Market:

  • May 2017: MAHLE completed acquisition of Nagares SA, Spanish Company, which manufactures and distributes automotive electronics. The acquisition by MAHLE has strengthened its product portfolio in e-mobility sector.
  • January 2018: Preh GmbH completed the acquisition of “ePower”, a business unit of Kongsberg Automotive ASA in Kongsberg, Norway, which produce on-board chargers used in powertrain application for electric and hybrid vehicles.

Major Players: Renesas Electronics Corporation, Kongsberg Automotive, Infineon Technologies, Vishay Intertechnology, Inc. amongst others.

Reasons to Purchase the Report:

  • Latest technology trends adopted by the manufacturers in the automotive power electronics in electric vehicles market
  • Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis
  • Study on the component that is expected to dominate the market
  • Study on the regions and countries that are expected to witness the fastest growth during the forecast period
  • Identifying the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate Sheet in Excel

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1. Introduction

              1.1 Research Methodology

              1.2 General Study Assumptions

2. Research Methodology

              2.1 Introduction

              2.2 Analysis Methodology

              2.3 Study Assumptions

3. Executive Summary

4. Market Overview and Technology Trends

              4.1 Current Market Scenario

              4.2 Technology Trends

              4.3 Porter's Five Forces Analysis

                             4.3.1 Bargaining Power of the Suppliers

                             4.3.2 Bargaining Power of the Consumers

                             4.3.3 Threat of New Entrants

                             4.3.4 Threat of Substitute Products and Services

                             4.3.5 Competitive Rivalry within the Industry

5. Market Dynamics

              5.1 Drivers

                             5.1.1 Growing Electric Vehicles Sales

              5.2 Restraints

                             5.2.1 High Cost of Power Electronics

              5.3 Opportunities

                             5.3.1 Stringent Government Regulations

6. Automotive Power Electronics in Electric Vehicles Market Segmentation, By Device

              6.1 Power Modules (ECUs, Inverters, Converters, and Battery Management System)

                             6.1.1 Power ICs (Microcontroller)

                             6.1.2 Power Discrete (Diodes, Resistor, Capacitor, Inductor, and Transformer)

7. Automotive Power Electronics in Electric Vehicles Market Segmentation, By Application

              7.1 Body Electronics

              7.2 Safety and Security Electronics

              7.3 Powertrain

8. Automotive Power Electronics in Electric Vehicles Market Segmentation, By Drivetrain Type

              8.1 Full Hybrid

              8.2 Plug-in Hybrid

              8.3 Pure Electric

9. Automotive Power Electronics in Electric Vehicles Market Segmentation, By Vehicle Type

              9.1 Passenger Car

              9.2 Commercial Vehicle

10. Automotive Power Electronics in Electric Vehicles Market Segmentation, By Geography

              10.1 North America

                             10.1.1 The United States

                             10.1.2 Canada

                             10.1.3 Rest of North America

              10.2 Asia-Pacific

                             10.2.1 China

                             10.2.2 India

                             10.2.3 Japan

                             10.2.4 Rest of Asia-Pacific

              10.3 Europe

                             10.3.1 Germany

                             10.3.2 The United Kingdom

                             10.3.3 France

                             10.3.4 Italy

                             10.3.5 Rest of Europe

              10.4 Rest of the World

                             10.4.1 Brazil

                            10.4.2 Argentina

                             10.4.3 South Africa

                             10.4.4 Other Countries

11. Competitive Landscape

              11.1 Introduction

              11.2 Market Share Analysis

12. Company Profiles

              12.1 Renesas Electronics Corporation

              12.2 Microsemi Corporation

              12.3 Freescale Semiconductor, Inc.

              12.4 Texas Instruments, Inc.

              12.5 STMicroelectronics NV

              12.6 Rockwell Automation, Inc.

              12.7 Vishay Intertechnology, Inc.

              12.8 Fairchild Semiconductor International, Inc.

              12.9 NXP Semiconductors N.V.

              12.10 Kongsberg Automotive Holding ASA

              12.11 Toshiba Corporation

              12.12 Aptiv PLC

              12.13 Valeo Group

              12.14 Toyota Industries Corportion

              12.15 Mitusbishi Electric Corporation.

13. Disclaimer

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