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

The Automotive Power Electronics Market is segmented by Device Type (Power Module (Power ICs and Power Discrete), Application Type (Body Electronics, Safety and Security Electronics, and Powertrain), Drive Type (IC Engine Vehicle, Hybrid Vehicle, and Pure Electric Vehicle), Vehicle Type (Passenger Cars and Commercial Vehicles), and Geography.

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Market Snapshot

automotive power electronics market
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

>6.5 %

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Market Overview

The automotive power electronics market is expected to register a CAGR of 6.5% during the forecast period, 2020-2025.

  • The advent of high-frequency and high-power switching devices has brought a comprehensive application of power electronic converters, for energy conversion and motion control. Technological advancements, along with a reduction in cost and size of components and systems, are expected to play a pivotal role in the growth of the automotive power electronics in the electric vehicles market.
  • The adoption of electronics in powertrain systems is expected to increase at a faster pace during the forecast period, owing to the increased efforts by the regional governments and environmental agencies to lower emission levels through the use of eco-friendly vehicles (i.e. hybrid and electric vehicles).
  • With growing electrification in vehicles, the demand for power electronics has increased drastically in the past three years, thus, manufacturers who supply various systems, such as transmission system, battery management system, seat system, etc., are gearing up to acquire or establish partners with prominent local automotive power electronics suppliers or expand their production plant in power electronics to strongly compete in the market.
  • Major players in the market include Texas Instruments Inc., NXP Semiconductors NV, and Infineon Technologies AG, etc. The major companies are consistently focusing and expanding their business strategies toward the development of vehicle power electronics. For instance, Infineon Technologies AG plans to develop new products and solutions for automotive power electronics, as well as artificial intelligence, by setting up new development center at its Dresden, Germany, and is expected to launch in the course of 2018.

Scope of the Report

The car rental market is segmented by device type, application type, drive type, vehicle type, and geography.

Device Type
Power Module (ECUs, Inverter, Converter, and Battery Management Systems)
Power ICs (Microcontroller)
Power Discrete (Diodes, Resistors, Capacitors, Inductors, and Transformers)
Application Type
Body Electronics
Safety and Security Electronics
Powertrain
Drive Type
IC Engine Vehicle
Hybrid Vehicle
Pure 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
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
Other Countries

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Key Market Trends

Growing Vehicle Safety Standards

Organizations involved in car safety regulations are focusing on advanced driver assistance systems (ADAS) for enhanced safety of both passengers and pedestrians. The American New Car Assessment Program (NCAP) and the European New Car Assessment Program (Euro NCAP) have made some features, making ADAS, an important feature in new vehicles.

Due to the increase in the number of on-road accidents across the world, according to the World Health Organization, nearly 1.25 million people die annually, due to road accidents. The cause of these accidents is mostly attributed to the driver’s inability to judge certain conditions and make right decisions.

The efforts of various governments to reduce fatalities due to road accidents, have led to increased safety standards in new vehicles.

  • In 2011, the American NCAP has declared forward collision warning (FCW), lane departure warning (LDW), and electronic stability control (ESC) as recommended features in new cars.
  • Two years later, the Euro NCAP made speed assistance system (SAS) and seat belt reminder (SBR), a mandatory feature in all the new, as well as the existing vehicles.
  • Later, in 2014, the American NCAP made ESC mandatory and the use of rear-view video system was highly recommended in the new vehicles. In the same year, the Euro NCAP made the use of automatic emergency breaking (AEB) and lane departure warning (LDW), a mandate.
  • In 2016, the Euro NCAP made the use of Lane Keeping Assist, mandatory. The American NCAP is expected to make the use of rear-view video systems mandatory, by 2018.

NHTSA is conducting research on various ADAS features to increase the vehicle safety standards further. As part of these efforts, NHTSA included AEB to the list of vehicle safety standards, making it mandatory for a car to get a five-star safety rating.

With regard to other ADAS features, NHTSA is researching on inclusion of rear-end crash avoidance system (RECAS), collision mitigation breaking system (CMBS), blind spot detection, overtaking assistance system, and lane keeping and changing assistance systems. Furthermore, countries, such as Japan and China, are adopting various automotive safety regulations with regard to the ADAS features, as specified by the European Union.

With many countries taking utmost care for the road safety of passengers and increasing adoption of vehicles from the passengers, there exist huge opportunities for applications of power electronics in the automotive industry, during the forecast period.

Automotive Power Electronics Market_Application Type

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Europe and North America Dominate the Market

Europe and North America dominated the global automotive power electronics market.

In Europe, the growth of electric car sales is mostly concentrated in a limited number of countries, such as the United Kingdom, France, Norway, Germany, Sweden, and the Netherlands. These electric vehicles mainly adopt power control units (motor controllers) and battery management control units, which has further driven the automotive power electronics market in Europe.

Additionally, European government initiated that vehicles, which do not meet exhaust emission standards, have been strictly banned on the roads of urban cities, like Paris. Such initiatives are likely to drive more demand for electric vehicles, and in turn, experience increase in the demand for power electronics in the European market, during the forecast period.

France is one of the leading markets in European electric vehicles sales, which has experienced an average growth rate of 30% from 2014 - 2017. However, plug-in hybrid and pure electric vehicles sales shared a deficient percentage of 0.9% of total vehicle sales in the country (including ICE and electric vehicles).

The presence of nearly more than 13,000 charging points located in the country, is driving automakers to produce more plug-in electric vehicles, along with strong support from the European government. The government is incentivizing French customers to opt for electric vehicles by providing purchase subsidiaries and ownership benefits, such as annual tax reduction and reduction in electricity cost. Moreover, the government also started to support the automotive business development by providing other local benefits, such as free parking, access to bus lanes, no tool-free, free charging access to the restricted areas in the city. With these advantages, the government of France aims at manufacturing about two million electric vehicles, by 2022.

Automakers in France are focusing to deploy reliable and robust power electronics in the vehicle systems, especially in their hybrid and electric vehicles production, that meets high energy requirements and ultimately achieve low fuel consumption rate and CO2 emissions in the market.

Automotive Power Electronics Market_Geography

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Competitive Landscape

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. The market is moderately consolidated with major players dominating the market.

automotive power electronics market

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 Drivers

    2. 4.2 Market Restraints

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

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      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 Module (ECUs, Inverter, Converter, and Battery Management Systems)

        1. 5.1.1.1 Power ICs (Microcontroller)

        2. 5.1.1.2 Power Discrete (Diodes, Resistors, Capacitors, Inductors, and Transformers)

    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 Hybrid Vehicle

      3. 5.3.3 Pure 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 China

        2. 5.5.3.2 India

        3. 5.5.3.3 Japan

        4. 5.5.3.4 Rest of Asia-Pacific

      4. 5.5.4 Rest of the World

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 South Africa

        3. 5.5.4.3 Other Countries

  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 Microsemi Corporation

      6. 6.2.6 Vishay Intertechnology Inc.

      7. 6.2.7 Semiconductor Components Industries LLC

      8. 6.2.8 TOYOTA INDUSTRIES CORPORATION

      9. 6.2.9 Valeo Group

      10. 6.2.10 STMicroelectronics

  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 >6.5% over the next 5 years.

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

North America 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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