Press release
Automotive Power Discrete Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Automotive Power Discrete Market
Automotive Power Discrete Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $5.68 billion In 2028 At A CAGR Of 5.2% :
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..
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Automotive Power Discrete Market Major Segments
Key Driver - 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.
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Prominent Trend - 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.
Automotive Power Discrete Market Players
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.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the automotive power discrete market in 2023. The regions covered in the automotive power discrete market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Power Discrete Market Report Structure
3. Automotive Power Discrete Market Trends And Strategies
4. Automotive Power Discrete Market - Macro Economic Scenario
5. Automotive Power Discrete Market Size And Growth
…..
27. Automotive Power Discrete Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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