Automotive Power Electronics Market by Device Type, Application, Component, Material, Vehicle Type, Electric Vehicle Type, and Region - Global Forecast to 2025 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Automotive Power Electronics Market by Device Type (Power IC, Module & Discrete), Application, Component (Sensor & Microcontroller), Material, Vehicle Type (Passenger Vehicle, LCV & HCV), Electric Vehicle Type, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global automotive power electronics market size is projected to grow from USD 3.8 billion in 2020 to USD 4.7 billion by 2025, at a CAGR of 4.7%.

Increasing electronic content per vehicle, adoption of new safety features, development in vehicle powertrain and increasing vehicle management & connectivity features are fuelling factors for the growth of the automotive power electronics market.

Growing demand for safety and connectivity features inside the passenger vehicle likely to drive the growth of the automotive power electronics market during the forecast period

The automotive industry is witnessing a rapid evolution of safety features, which is expected to increase exponentially in the coming years to provide a safer and more convenient driving experience. Major OEMs are launching more passenger vehicles with ADAS & safety, infotainment and telematics features. Economy and mid-size class of passenger vehicles are getting inspired by safety and connectivity features from luxury vehicles.

They are getting installed with seat control, lighting, and infotainment features at an affordable price. Tier I and Tier II companies also try and develop new features in passenger vehicles only. Such features at the initial stage are offered in luxury vehicles. As the economies of scale reach, such features are offered in mid-size and economy vehicles. Government mandates related to vehicle safety and emission also force people to buy new vehicles. This has helped passenger vehicle to show the fastest growth among vehicle type segment for the automotive power electronics market.

Innovations in the field vehicle power converters for electric vehicles are helping the AC-DC, DC-AC & DC-DC converter segment to dominate the automotive power electronics market

In the context of electric vehicle power electronics, power converters are one area where innovation and development are ongoing. Power converters include an AC-DC converter known as a rectifier, DC-AC converter known as an inverter and DC-DC converter. These power converters are required in every kind of electric vehicles. Continuous innovation leads to the fluctuation of prices associated with the components of power converters.

This translates into the bigger market for AC-DC, DC-AC & DC-DC converter. In May 2019, Infineon Technologies launched power modules for xEV inverters. At the PCIM trade fair 2019, Infineon presented four new HybridPACK Drive modules optimized for different inverter performance levels between 100 kW and 200 kW. Such innovations in power converters lead to the dominance of AC-DC, DC-AC & DC-DC converter segment.

The flourishing automotive market in developing countries is driving the regional automotive power electronics market.

The Asia Pacific is holding the largest share in the automotive power electronics market. Whereas, South America is showing the highest growth rate among other regions. Both these regions comprise of some of the fastest-growing economies in the World. India, China, Brazil are considered as developing economies. These countries are large in terms of population, hence are the potential market for the automotive industry. The Asia Pacific has Japan and South Korea which are among the most developed countries in the context of technology innovation and adoption for automotive. Government mandates related to vehicle safety, emissions, connectivity in these countries are applicable for mass-produced vehicles.

The COVID-19 crisis has resulted in manufacturing and supply disruptions across the globe, due to which, the automobile industry in every region has experienced a decline in demand with an uncertain recovery timeline. Additionally, OEMs have stopped production across their manufacturing facilities in different regions, which has resulted in a decline in production as well as sales. Automotive-related high-tech tests that companies were carrying out in the different region have also been suspended.

Market Dynamics

Drivers

• Increasing Modernization of Vehicles to Impact the Power Electronics Market
• Increasing Demand for Energy-Efficient, Battery-Powered Devices
• Rising Trend of Vehicle Electrification

Restraints

• Increase in the Overall Cost of the Vehicle
• Complex Design and Integration Process for Advanced Applications

Opportunities

• Growing Demand for Advanced Safety, Convenience, and Comfort Systems
• Increasing Use of Sic and Gan Products in Vehicle Applications

Challenges

• Managing Cost and Quality of Power Electronic Components
• Demand for Compact Devices with High Efficiency
  

Companies Profiled

• Robert Bosch
• Continental
• Infineon
• STMicroelectronics
• On Semiconductor
• Mitsubishi Electric
• Renesas
• Fuji Electric
• Delphi Technologies
• Danfoss
• Vishay
• Maxim Integrated
• Microchip Technology
• Littelfuse
• Silicon Labs
• Borgwarner
• ABB
• Analog Devices
• Texas Instruments
• Diodes Incorporated
• Power Integrations
• Vicor Power
• NXP Semiconductor
• Nexperia
• Eaton
• Valeo
• Hella
• Actia
• Semikron
• Dialog Semiconductor
• Marelli
• Ascatron
• Rohm Semiconductor
• Taiwan Semiconductor
• Pulse
• Delta
  

For more information about this report visit https://www.researchandmarkets.com/r/hkev2f