Automotive Uninterruptible Power Supply (UPS) Market Report 2024 - Automotive UPS Market Demand And Size

"The Business Research Company recently released a comprehensive report on the Global Automotive Uninterruptible Power Supply (UPS) (In Vehicle UPS) Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The automotive uninterruptible power supply (UPS) (in vehicle UPS) market size has grown strongly in recent years. It will grow from $2.9 billion in 2023 to $3.1 billion in 2024 at a compound annual growth rate (CAGR) of 6.%. The growth in the historic period can be attributed to increasing demand for reliable backup power in automotive applications, growing the electric vehicle (EV) market, growing adoption of EVs and hybrid vehicles, rising awareness about power quality and reliability, and increasing focus on vehicle safety and reliability.

The automotive uninterruptible power supply (UPS) (in vehicle UPS) market size is expected to see strong growth in the next few years. It will grow to $4.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to the expansion of autonomous and connected vehicles, government regulations and incentives for energy-efficient technologies, rising investment in research and development for innovative UPS solutions, enhanced focus on reducing the size and weight of UPS units, and integration of electronics and infotainment systems in vehicles. Major trends in the forecast period include the expansion of autonomous and connected vehicles, government regulations and incentives for energy-efficient technologies, rising investment in research and development for innovative UPS solutions, enhanced focus on reducing the size and weight of UPS units, and integration of electronics and infotainment systems in vehicles.

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Market Drivers and Trends:
Increasing demand for electric vehicles is expected to propel the growth of the automotive uninterruptible power supply (UPS) (in-vehicle UPS) market going forward. An electric vehicle (EV) is a car powered by an electric motor using energy stored in batteries, offering a cleaner alternative to traditional internal combustion engine vehicles. There is increasing demand for electric cars due to several factors, such as growing environmental concerns, government incentives for cleaner transportation, advancements in battery technology making electric vehicles more practical, and a desire for energy independence. An automotive uninterruptible power supply (UPS) ensures continuous power delivery in electric vehicles, enhancing reliability and protecting sensitive onboard electronics. For instance, in July 2023, according to the Internal Energy Agency, a France-based autonomous intergovernmental organization, over 2.3 million electric cars were sold in the first quarter of 2023, a 25% increase from the same period in 2022. By the end of 2023, sales are expected to reach 14 million, representing a 35% year-on-year increase, with growth accelerating in the second half of the year. Therefore, increasing demand for electric vehicles is driving the growth of the automotive uninterruptible power supply (UPS) (in-vehicle UPS) market.

Major companies operating in the automotive uninterruptible power supply (UPS) (in-vehicle UPS) market are focusing on technological advancements, such as silicon carbide (SiC) MOSFET trench technology, to gain a competitive advantage. Silicon carbide (SiC) MOSFET trench technology involves creating vertical trenches in the SiC substrate to achieve lower on-resistance and higher efficiency in power switching applications. For instance, in February 2024, Infineon Technologies AG, a Germany-based manufacturer of semiconductor products, launched the 750V G1 discrete CoolSiC MOSFET family to address the rising demand for greater efficiency and power density in industrial and automotive power applications. This product line comprises both industrial-grade and automotive-grade SiC MOSFETs, optimized for a variety of topologies, including totem-pole PFC, T-type, LLC/CLLC, dual active bridge (DAB), HERIC, buck/boost, and phase-shifted full bridge (PSFB).

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Major Key Players of the Market:
Siemens AG, General Electric Company, Panasonic Corporation, Schneider Electric, ABB Ltd, Fujitsu Limited, Toshiba Corporation, Johnson Controls, Eaton Corporation, Delta Electronics, Phoenix Contact, Socomec Group, Newmar Corporation, Benning Power Electronics, Puls Power, Power Sonic Corporation, HBL Power Systems, Acumentrics, EnerDel, Ametek Solidstate Controls, Riello UPS

Automotive Uninterruptible Power Supply (UPS) (In Vehicle UPS) Market 2024 Key Insights:
• The automotive uninterruptible power supply (UPS) (in vehicle UPS) market size is expected to see strong growth in the next few years. It will grow to $4.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Rising Demand For Electric Vehicles Fuels Growth Of Automotive Uninterruptible Power Supply Market
• Advancements In Silicon Carbide MOSFET Technology For Automotive UPS Systems
• Asia-Pacific was the largest region in the automotive uninterruptible power supply (UPS) (in-vehicle UPS) market in 2023

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