Automotive Power Electronics Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

The Automotive Power Electronics Market is segmented by Device Type (Power IC, Module and Discrete), by Application Type (Body Electronics, Safety, and Security Electronics, and Powertrain), by Drive Type (IC Engine Vehicle, Electric Vehicle), by Vehicle Type (Passenger Cars and Commercial Vehicles), and by Geography ( North America, Europe, Asia-Pacific and Rest of the world). The Report offers market size and forecast for the Automotive power electronics market on basis of value (USD billion) for all the above segments.

Market Snapshot

automotive power electronics market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: >4 %

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Market Overview

The Automotive Power Electronics Market was valued at USD 3 billion in 2020 and is expected to reach USD 5 billion by 2026 registering a CAGR of above 4% during the forecast period (2021 - 2026).

The COVID-19 pandemic has severely impacted the automotive industry across the world. The disruptions in supply chain activities, the interruption in large-scale manufacturing, restrictions on travel, and the declining sales of light vehicles during 2020, are responsible for the declining growth of the market.

Besides, the U.S.-China trade war and halt in the export of raw materials from China have impacted market revenue. However, as economic activities resumed post pandemic market is expected to regain its momentum during the forecast period.

Compliance with upcoming safety, vehicle emission mandates and increasing demand for vehicle connectivity, infotainment and powertrain electrification will drive the market for automotive power electronics. In addition, rising market for electric vehicles likely to drive the demand in market.

Asia-Pacific region is expected to dominate the market followed by Europe and North America during forecast period. Europe and North America to witness positive growth during forecast period owing to rising demand for electric vehicles in the region.

Scope of the Report

Automotive power electronics is a modern technology that efficiently converts, conditions, and controls the electric power within an automobile. The Automotive Power Electronics market report covers the latest trends, covid-19 impact followed by technological developments in the market. The scope of the report covers segmentation based on Device Type, Application Type, Drive type, Vehicle Type, and Geography.

By Device type, the market is segmented into Power IC, Module and Discrete. By Application Type, the market is segmented into Body Electronics, Safety and Security Electronics, and Powertrain.

By Drive Type, the market is segmented into IC Engine vehicles, Electric Vehicle. By Vehicle Type, the market is segmented into Passenger Cars and Commercial Vehicles, and by Geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. For each segment, the market sizing and forecast have been done on basis of value (USD billion).

Device Type
Power IC
Module and Discrete
Application Type
Body Electronics
Safety and Security Electronics
Powertrain
Drive Type
IC Engine Vehicle
Electric Vehicle
Vehicle Type
Passenger Cars
Commercial Vehicles
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle East & Africa

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Key Market Trends

Passenger Vehicle Segment Anticipated To Hold Largest Market Share

The Passenger vehicle segment makes a major contribution to the automotive power electronics market. The increased demand for safety systems and fuel-efficient technology associated with vehicle power train in emerging markets are fueling factor for the dominance of passenger vehicle.

From past 5 or 10 years, passenger vehicles are getting installed with number of safety, comfort, entertainment and vehicle management features. This is because of factor such as changing preferences of vehicle buyer supported by government legislations. OEMs are also quite active in launching new variants and new models of vehicle that will fulfill the need of customers. Increasing population in developing economies also encourage OEMs to add specific features in new models of passenger vehicles.

This is done to highlight own products among other products available in the market. OEMs, Tier I and Tier II also try to deploy new technology or features in the mass-produced vehicle among vehicle category, i.e., passenger vehicles. These are some of the factors that are responsible for the dominance of passenger vehicle segment in the automotive power electronics market.

Automotive Power Electronics Market_key market trend 1

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Asia-Pacific Region Likely To Dominate The Market

Asia-Pacific Automotive Power Electronics Market expected to hold significant share in market during the forecast period. China, South Korea, and Japan account for the largest share of the automotive power electronics market in the Asia Pacific region. The growth of the market in Asia Pacific region can be attributed to the high vehicle production and increased use of advanced electronics in Japan, South Korea, and China.

The governments of these countries have recognized the growth potential of the automotive industry and have consequently taken different initiatives to encourage major OEMs to enter their domestic markets. For instance,

  • China mandated TPMS in vehicles from 2019. The country is also considering mandating automatic emergency braking during the forecast period.
  • The Ministry for Road Transport and Highways (India) planned to adopt automotive power electronics features by 2022.

Moreover, the region is a home of leading semiconductor suppliers and Tier-1 manufacturers. Hence, adoption of electronic components in advanced vehicles, post pandemic, expected to drive the market growth over the forecast period.

AutomotivePowerElectronicsMarket_geography

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Competitive Landscape

The Automotive power electronics market is moderately consolidated with major players dominating the market. Companies are focusing on expanding its product portfolio and are investing in R&D activities to develop advanced products. For instance,

  • In March 2020, Infineon Technologies launched new packages for its 80 V and 100 V MOSFETs with OptiMOS™ 5 technology to meet the different requirements of different 48 V applications.
  • In July 2019, At IAA 2019, Continental introduced the 48-volt high-power drive system with 30 kW. Continental Powertrain is mastering all variants of the electric drive, from 48-volt systems to hybrid technologies, right through to high-voltage components.

Some of the major companies dominating the automotive power electronics market include NXP Semiconductors, Infineon Technologies AG, Texas Instruments Incorporated, Renesas Electronics Corporation, and STMicroelectronics.

Recent Developments

  • In April 2020, Infineon Technologies launches its new product family: the CoolMOS™ CFD7A series. These silicon-based, high-performance products can be used in both the PFC and the DC-DC stage of on-board charger systems and HV-LV DC-DC converters specifically optimized for electric-vehicle applications.
  • In January 2020, STMicroelectronics exhibits the latest solutions for automotive systems At Automotive World 2020. ST demonstrated electric traction for next-generation EVs using its industry-leading Sic (Silicon Carbide) power MOSFETs with cutting-edge small packages.
  • In April 2020, Infineon Technologies AG completes the acquisition of Cypress Semiconductor Corporation. Cypress adds a differentiated portfolio of microcontrollers, connectivity components, software ecosystems, and high-performance memories.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Driver

    2. 4.2 Market Restraint

    3. 4.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Bargaining power of suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Device Type

      1. 5.1.1 Power IC

      2. 5.1.2 Module and Discrete

    2. 5.2 Application Type

      1. 5.2.1 Body Electronics

      2. 5.2.2 Safety and Security Electronics

      3. 5.2.3 Powertrain

    3. 5.3 Drive Type

      1. 5.3.1 IC Engine Vehicle

      2. 5.3.2 Electric Vehicle

    4. 5.4 Vehicle Type

      1. 5.4.1 Passenger Cars

      2. 5.4.2 Commercial Vehicles

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Rest of North America

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 India

        2. 5.5.3.2 China

        3. 5.5.3.3 Japan

        4. 5.5.3.4 South Korea

        5. 5.5.3.5 Rest of Asia-Pacific

      4. 5.5.4 Rest of the World

        1. 5.5.4.1 South America

        2. 5.5.4.2 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles *

      1. 6.2.1 Infineon Technologies AG

      2. 6.2.2 Texas Instruments Incorporated

      3. 6.2.3 Renesas Electronics Corporation

      4. 6.2.4 NXP Semiconductors

      5. 6.2.5 STMicroelectronics

      6. 6.2.6 Microsemi Corporation

      7. 6.2.7 Vishay Intertechnology Inc.

      8. 6.2.8 Semiconductor Components Industries LLC

      9. 6.2.9 Toyota Industries Corporation

      10. 6.2.10 Valeo Group

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Automotive Power Electronics Market market is studied from 2018 - 2026.

The Automotive Power Electronics Market is growing at a CAGR of >4% over the next 5 years.

The Automotive Power Electronics Market is valued at 3 Billion USD in 2018.

The Automotive Power Electronics Market is valued at 5 Billion USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

NXP Semiconductors, Infineon Technologies AG, Texas Instruments Incorporated, Renesas Electronics Corporation, STMicroelectronics are the major companies operating in Automotive Power Electronics Market.

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