Automotive Power Electronics Market to Hit $8.1 Billion by 2032, Driving the Future of Electrified Mobility

According to a new report published by Allied Market Research, titled, "Automotive Power Electronics Market," The automotive power electronics market was valued at $5 billion in 2022, and is estimated to reach $8.1 billion by 2032, growing at a CAGR of 5.1% from 2023 to 2032.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/4285

Automotive power electronics is a part of electrical and electronic systems used in automobiles for controlling, converting, and distributing electrical power supply within a vehicle. Application of power electronic component used in a vehicle ensures effective transfer of electric energy to all the necessary components of an automobile along with ensuring that all the associated components are operating in an efficient manner. In addition, with the introduction of suitable power electronics to be used in vehicles, the demand for smarter & efficient automotive components has increased which has created a wider scope for the growth of the market across the globe. In addition, automotive components such as semiconductors, ICs, safety components & others operate on power electronics which also proves to be a factor supplementing the growth of the automotive power electronics market across the globe.

Power electronics includes the structure, and implementation of numerous electronic components and systems, such as AC/DC converters, inverters, vehicle motors, vehicle battery management systems, and other electrical control units, which finds an increased application of power electronics. The power electronic system used in vehicle helps in optimizing the performance of the vehicle trough proper battery management & consumption along with ensuring efficient electric propulsion & at the same time maintaining proper vehicle safety.

With the advancement in technology, the global automotive industry has experiences an increased support for developing effective automotive components. This has enabled numerous companies to develop & offer components to be used in automotive industry thus supplementing the growth of the market across the globe. Nations heavily reliant on crude oil imports, which represent a substantial portion of their expenditures, are now observing a remarkable surge in the adoption of electric vehicles. Moreover, electric vehicles utilize electricity as a cleaner energy source, making them an attractive and sustainable transportation solution for countries grappling with both dependence on imported crude oil and the challenges posed by escalating carbon emissions. Owning to the rising demands of electric vehicles, key market players are expanding their business presence to meet these demands. For instance, in February 2023, Infineon Technologies AG announced that it was starting the construction of its new plant in Dresden, Germany. The plant specialized in the manufacturing of analog/mixed-signal technologies and power semiconductors. Furthermore, the plant was to begin production by 2026. This allowed Infineon to strengthen their capabilities and product presence in the automotive power electronics market size.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

BorgWarner Inc.
Continental AG
Danfoss A/S
Denso Corporation
Infineon Technologies AG
Mitsubishi Electric Corporation
NXP Semiconductors
ON Semiconductors
Renesas Electronics Corporation
Robert Bosch

𝐓𝐡𝐞 𝐏𝐨𝐰𝐞𝐫 𝐈𝐂 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on device, the power IC segment held the highest market share in 2022, accounting for nearly two-thirds of the global automotive power electronics market revenue, and is estimated to maintain its leadership status throughout the forecast period. The power integrated circuits (ICs) play a vital role in automotive applications since they are used for a variety of power control and management tasks. Power integrated circuits (ICs) are used in the automotive industry to manage motor control, power distribution, and other related tasks. Significant breakthroughs in automotive applications include the use of wide bandgap semiconductors such as gallium nitride and silicon carbide. These materials are better at monitoring and minimizing power losses, changing speeds, and providing greater thermal tolerances. However, the module/discrete segment is projected to manifest the highest CAGR of 6.3% from 2022 to 2031.

🔰 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/4285

𝐓𝐡𝐞 𝐈𝐧𝐟𝐨𝐭𝐚𝐢𝐧𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐓𝐞𝐥𝐞𝐦𝐚𝐭𝐢𝐜𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐰𝐢𝐭𝐧𝐞𝐬𝐬 𝐭𝐡𝐞 𝐟𝐚𝐬𝐭𝐞𝐬𝐭 𝐠𝐫𝐨𝐰𝐭𝐡 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on application, the others segment held the highest market share in 2022, accounting for nearly half of the global automotive power electronics market revenue and is estimated to maintain its leadership status throughout the forecast period. Companies operating in the industry have been inclined towards offering an increased product range of automotive power electronic components in vehicles which created a wider scope for the growth of the market across the globe. Developments have been carried out by the key players operating in the industry which creates a wider scope for the growth of the market across the globe. However, the infotainment and telematics segment is projected to manifest the highest CAGR of 6.8% from 2022 to 2031.

𝐓𝐡𝐞 𝐈𝐂𝐄 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on drive type, the ICE vehicle segment held the highest market share in 2022, accounting for around two-thirds of the global automotive power electronics market revenue and is estimated to maintain its leadership status throughout the forecast period. Power electronics are used in almost every system in one form or another. Power electronics drives any device that requires an electrical power input, converting one form of electric energy - whether AC or DC - into another. A variety of power systems have been created and developed to meet the voltage, power, and reliability needs of various applications. MOSFETs, for example, are employed in a variety of applications such as switching power supply, power converters, motor control, and voltage regulators. Modern IC engine vehicles often employ electronic fuel injection systems for precise fuel delivery. However, the electric vehicle segment is projected to manifest the highest CAGR of 7.6% from 2022 to 2031.

🔰 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/automotive-power-electronics-market/purchase-options

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟐

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global automotive power electronics market revenue and is estimated to maintain its leadership status throughout the forecast period. The North American region is expected to show prominent growth in the automotive power electronics market in the North American region. The region is known to be the home for automotive developments. Tesla Inc., a company which primary deals in the design and manufacturing of electric vehicles was founded in this region. It is also home to market players such as BorgWarner Inc., which is on the forefront in acquiring businesses to expand their market presence. However, the LAMEA region is expected to witness the fastest CAGR of 8.1% from 2022 to 2031.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬

https://www.alliedmarketresearch.com/automotive-transceivers-market - Automotive Transceivers Market Size, Share, Competitive Landscape and Trend Analysis Report, by Protocol, Application and Vehicle Type : Global Opportunity Analysis and Industry Forecast, 2018-2025

https://www.alliedmarketresearch.com/automotive-hypervisor-market-A11740 - Automotive Hypervisor Market Size, Share, Competitive Landscape and Trend Analysis Report, by Vehicle Type, Type, Level of Automation and Vehicle Class : Global Opportunity Analysis and Industry Forecast, 2021-2030

https://www.alliedmarketresearch.com/automotive-power-electronics-market - Automotive Power Electronics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Device, by Application, by Drive Type : Global Opportunity Analysis and Industry Forecast, 2023-2032

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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