Press release
Automotive Power Electronics Market Opportunity Assessment and Forecast up to 2025
Products in the global automotive power electronics market, such as modules, discrete, and power ICs have various applications in the automotive industry. These include body electronics, security electronics, powertrain, and safety electronics. Used in both passenger as well as commercial vehicles, products in the global automotive power electronics market can be applied in both, electric vehicles as well as internal combustion or IC engine operated vehicles. Increasing need for compliance with emerging vehicle emission as well as vehicle safety standards along with rising demand for vehicle infotainment, powertrain electrification, and connectivity are two major factors driving the growth in the global automotive power electronics market within the next few years.Research Report: https://www.transparencymarketresearch.com/automotive-power-electronics-market.html
On the other hand, the COVID-19 pandemic and subsequent lockdowns adversely impacted the automotive industry across the world. This trend can be attributed to the disruptions in large scale manufacturing, interruptions in supply chain activities, restrictions on travelling, and diminishing sales of automotive vehicles on 2020. These factors have also restricted the growth in the global automotive power electronics market as a result. Furthermore, halt in export of raw materials from China as well as China-U.S. trade war had also negatively impacted the revenue generation in the global automotive power electronics market in late 2020. However, the global automotive power electronics market is anticipated to regain its momentum over the next few years.
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Increasing demand for electric vehicles is expected to positively influence the growth in the global automotive power electronics market in coming years. Furthermore, rising demand for fuel efficient technologies as well as high performance safety systems in passenger vehicles may also favor the expansion of the global automotive power electronics market within the next few years. Furthermore, rising demand for various vehicle management features and increased safety is also positively influencing the demand dynamics in the global automotive power electronics market. Players and manufacturers operating within the global automotive power electronics market are engaged in portfolio expansion as well as increasing their investments aimed at research and development activities in order to design and produce technologically advanced products.
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Global Automotive Power Electronics Market: Snapshot
The global automotive power electronics market is gaining from the rising sales of electric vehicles for environmental considerations. Several governments in the world are encouraging the adoption of electric vehicles as they do not emit harmful emissions that are detrimental to the environment. For instance, in the U.K, the sale of petrol and diesel cars is anticipated to be banned by 2040 as the government is undertaking consistent efforts to improve the air quality.
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Apart from this, thrust to equip vehicles with advanced power solutions is stoking growth of automotive power electronics market. This includes advanced driver assistance systems and convenience systems to enhance vehicular safety and to track vehicle in real-time.
A report by Transparency Market Research (TMR) projects the global automotive power electronics market to clock an impressive 19.0% CAGR between 2017 and 2025, for the market to reach a valuation of US$22,658.4 mn by the end of 2025.
The report provides statistical analysis for the following questions:
What is the CAGR What being the Automotive Power Electronics Market?
Automotive Power Electronics Market CAGR of 19.0% by 2020.
Which Region Lead the most Automotive Power Electronics Market?
Europe is lead in this Industry.
About Transparency Market Research
Transparency Market Research is a global market research reports company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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