|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia-Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 decreased sales of light vehicles in 2020, are responsible for the declining growth of the market.
Besides, the U.S.-China trade war and halt in exporting raw materials from China have impacted market revenue. However, as economic activities resumed in the later half of 2020, the market is expected to regain its momentum during the forecast period.
Compliance with upcoming safety and vehicle emission standards and increasing demand for vehicle connectivity, infotainment, and powertrain electrification will drive the market for automotive power electronics during the forecast period. In addition, the rising market for electric vehicles is likely to drive the market.
Asia-Pacific region is expected to dominate the market, followed by Europe and North America during the forecast period. Europe and North America are expected to witness positive growth during the forecast period, owing to the rising demand for electric vehicles.
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. 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 and Electric Vehicles.
By Vehicle Type, the market is segmented into Passenger Cars and Commercial Vehicles.
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 the basis of value (USD billion).
|Module and Discrete|
|Safety and Security Electronics|
|IC Engine Vehicle|
Key Market Trends
The 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 trains in emerging markets are fueling factors for the dominance of passenger vehicles.
For the past 5 or 10 years, passenger vehicles are getting installed with various safety, comfort, entertainment, and vehicle management features. This is because of factors such as changing preferences of vehicle buyers supported by government legislation towards enhancing vehicle safety. OEMs are also quite active in launching new variants and new models of vehicles that will fulfill the need of customers. Increasing populations in developing economies also encourage OEMs to add specific features in new models of passenger vehicles.
This is done to highlight one's 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 responsible for the dominance of the passenger vehicle segment in the automotive power electronics market.
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The Asia-Pacific Region is Likely to Dominate the Market
The Asia-Pacific Automotive Power Electronics Market is expected to hold a significant share in the 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 the 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 home to leading semiconductor suppliers and Tier-1 manufacturers. Hence, the adoption of electronic components in advanced vehicles, post-pandemic, is expected to drive the market growth over the forecast period.
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The automotive power electronics market is moderately consolidated, with major players dominating the market. Companies are focusing on expanding their 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.
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.
- In September 2021, Infineon Technologies AG and Panasonic Corporation have signed an agreement for the joint development and production of the second generation (Gen2) of their proven gallium nitride (GaN) technology, offering higher efficiency and power density levels.
- In June 2021, STMicroelectronics launched STi2GaN solutions for auto applications. STi2GaN family combines a monolithic power stage along with drivers and protections in GaN technology as well as System-in-Package (SiP) solutions for application-specific ICs with additional processing and control circuitry.
- In June 2021, NXP Semiconductors N.V. and TSMC announced the release of NXP’s S32G2 vehicle network processors and the S32R294 radar processor into volume production on TSMC’s advanced 16 nanometers (nm) FinFET process technology. This marks the migration of NXP’s S32 family of processors to increasingly advanced process nodes as automobiles continue to evolve into powerful computing platforms.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Device Type
5.1.1 Power IC
5.1.2 Module and Discrete
5.2 Application Type
5.2.1 Body Electronics
5.2.2 Safety and Security Electronics
5.3 Drive Type
5.3.1 IC Engine Vehicle
5.3.2 Electric Vehicle
5.4 Vehicle Type
5.4.1 Passenger Cars
5.4.2 Commercial Vehicles
5.5.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.5.4 Rest of the World
188.8.131.52 South America
184.108.40.206 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles *
6.2.1 Infineon Technologies AG
6.2.2 Texas Instruments Incorporated
6.2.3 Renesas Electronics Corporation
6.2.4 NXP Semiconductors
6.2.6 Microsemi Corporation
6.2.7 Vishay Intertechnology Inc.
6.2.8 Semiconductor Components Industries LLC
6.2.9 Toyota Industries Corporation
6.2.10 Valeo Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Automotive Power Electronics Market market is studied from 2018 - 2026.
What is the growth rate of Automotive Power Electronics Market?
The Automotive Power Electronics Market is growing at a CAGR of >4% over the next 5 years.
What is Automotive Power Electronics Market size in 2018?
The Automotive Power Electronics Market is valued at 3 Billion USD in 2018.
What is Automotive Power Electronics Market size in 2026?
The Automotive Power Electronics Market is valued at 5 Billion USD in 2026.
Which region has highest growth rate in Automotive Power Electronics Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Power Electronics Market?
Asia-Pacific holds highest share in 2020.
Who are the key players in Automotive Power Electronics Market?
NXP Semiconductors, Infineon Technologies AG, Texas Instruments Incorporated, Renesas Electronics Corporation, STMicroelectronics are the major companies operating in Automotive Power Electronics Market.