Automotive Power Discrete Market Analysis, Share, Outlook And Forecast 2024-2033

The automotive power discrete market size has grown strongly in recent years. It will grow from $4.38 billion in 2023 to $4.64 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to shift towards autonomous features, global automotive industry growth, advancements in safety systems, focus on fuel efficiency, stricter emission regulations.

The automotive power discrete market size is expected to see strong growth in the next few years. It will grow to $5.68 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to electric vehicle expansion, advancements in vehicle electrification, rise in automotive electronics integration, compliance with stricter emission standards, autonomous and connected vehicle growth. Major trends in the forecast period include electric vehicle (ev) revolution, advancements in automotive electronics, demand for fuel efficiency, rise in hybrid vehicle adoption, government regulations and emissions standards.

Market Overview -
Automotive power discrete refers to a type of electronic component specifically designed for use in automotive applications to control and manage electrical power. These are used in power converters to convert DC power from the battery to the different voltages and currents required by the vehicle's electrical systems. It is designed to handle high power levels and operate reliably in harsh automotive environments.

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Surge In Electric Car Demand Boosts Automotive Power Discrete Market Growth
Increasing demand for electric cars is expected to propel the growth of the automotive power discrete market going forward. Electric cars are automobiles powered by electricity rather than traditional internal combustion engines that use gasoline or diesel. Automotive power discrete components play a crucial role in electric cars by managing and controlling the flow of electrical power within the vehicle's electrical and battery management systems to protect the battery from overcharging or discharging and ensure safe and efficient operation. For instance, in April 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, electric car sales accounted for 14% of all new cars sold globally in 2022, with an increase of 9% in 2021. Furthermore, 14 million electric cars are projected to be sold by the end of 2023, marking a 35% year-on-year increase. Therefore, the increasing demand for electric cars is driving the growth of the automotive power discrete market.

Competitive Landscape -
Major companies operating in the automotive power discrete market report are Robert Bosch GmbH, Hitachi Ltd., Mitsubishi Electric Corporation, ABB Ltd., Toshiba Corporation, Yole Group, Texas Instruments Incorporated, Schaeffler Technologies AG & Co. KG, STMicroelectronics N.V., BorgWarner Inc., Infineon Technologies AG, NXP Semiconductors N.V., Renesas Electronics Corporation, Danfoss, Onsemi, Amkor Technology Inc., Microchip Technology Inc., Fuji Electric Co. Ltd., United Automotive Electronic Systems Co. Ltd., Rohm Semiconductor, Vishay Intertechnology Inc., Littelfuse Inc., Nexperia, Diodes Incorporated, Sanken Electric Co. Ltd., Shindengen Electric Manufacturing Co. Ltd., Alpha and Omega Semiconductor Inc., Wolfspeed Inc., Semikron, Transphorm Inc.

Increasing Focus On Developing High-Power On-Board Chargers To Maximize Revenues
Major companies operating in the automotive power discrete market are increasing their focus on developing high-power on-board chargers to gain a competitive edge in the market. High-power on-board charger and advanced electrical component installed within an electric or plug-in hybrid vehicle, responsible for rapidly converting incoming AC electrical energy into DC energy to charge the vehicle's high-voltage battery pack. For instance, in September 2022, Onsemi, a US-based semiconductor manufacturing company, launched the APM32 series of three power modules for onboard chargers in electric cars. The modules use silicon carbide (SiC) technology and are specifically designed for high-power on-board chargers (OBC) with a capacity of 11-22 kW. The APM32 series, the first of its kind, is designed with SiC technology in a transfer-molded package, which enhances efficiency and shortens the charge time for all types of electric vehicles.

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Key Segments -
The automotive power discrete market covered in this report is segmented -
1) By Product: Gallium Nitride (GaN), Silicon Carbide (SiC)
2) By Devices: Power Integrated Circuits (IC), Power Module Or Discrete
3) By Component: Microcontroller, Sensor
4) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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