Automotive Semiconductor Market Growth Set to Surge Significantly during 2022 - 2028

The global chip shortages result in severe spillover damages in many sectors, mainly in the automotive industry. The struggle to cope with skyrocketing demand, natural disasters, and lockdowns are revealing the fragility of supply chains. Semiconductor consumers are currently undergoing a huge supply chain transformation as the semiconductor shortage have halted their production lines of the final product. The relationship between the essential dynamics, such as high fab utilization, high geographic concentration, high market entry barriers, and long manufacturing cycles, is the reason why skyrocketing demand and external shocks are disrupting the value chain since 2020.

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Companies Profiled in this report includes:  NXP Semiconductors, Texas Instrument, ON Semiconductor, Maxim, Vishay Intertechnology, Qualcomm, NVidia Corporation, Rohm Semiconductor, STMicroelectronics N.V., Analog Devices, Inc.

The shortage in semiconductors can be attributed to the impact of COVID-19. Since the second half of 2020, homeschooling and working from home have been the new normal in many countries. Staying at home due to lockdown and curfews meant many people invested in gaming consoles and other gadgets, requiring semiconductors. This have directed the supply of semiconductors to the consumer electronics industry and have resulted to the shortage of semiconductors in the automotive industry.

China's reported semiconductor consumption market is more significant than most of the countries in the world. That is because a considerable portion of the semiconductor devices consumed in China remains purchased outside of China. In China, owing to supply chain considerations such as toll processing business models, control of essential inventory items, and intellectual property protection, will force China to buy semiconductor devices outside of the country and transship them to China for use and consumption.

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The trend towards increasing comfort levels, entertainment, and communications will spur growth in the semiconductor content in each vehicle. The electronics control unit (ECU) will electronically control everything from lighting to heating. The dashboard is becoming fully electronic with LCD and LED displays providing drivers with all the information about their vehicle, external environment, and its performance. This again is expected to create a huge demand for semiconductor in the market.

Various regulatory initiatives will require auto manufacturers and their suppliers to include more semiconductor components. For instance, environmental standards in the European Union (EU) are likely to call out for a 20-30% reduction in emissions by 2030. As emission standards have improved over the years, they demand increasingly potent semiconductors to ensure the vehicles' performance is in emission compliance.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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