Press release
Shaping the Electric Vehicle Power Electronics Market in 2025: Innovative Power Semiconductor Modules Driving Advancements In The Electric Vehicle Power Electronic Market
Electric Vehicle Power Electronics Market
The electric vehicle power electronics market will grow from $12.2 billion in 2024 to $16.69 billion in 2025, at a CAGR of 36.8%. Growth is due to increasing government regulations, energy efficiency standards, environmental concerns, and the need for affordable solutions.
The electric vehicle power electronics market is expected to grow to $50.68 billion by 2029 at a CAGR of 32.0%, driven by the rising EV market, infotainment demand, and environmental concerns. Trends include advancements in battery technology and product innovations.
What Are the Primary Growth Drivers for the Electric Vehicle Power Electronics Market?
Government initiatives to balance environmental pollution are expected to propel the growth of the electric vehicle power electronics market. Government initiatives for environmental protection and resource conservation often aim to promote research, regulations, and policies enhancing the efficiency and sustainability of power electronics systems in electric vehicles. For instance, in 2022, the U.S. Department of Transportation announced its aim for half of all new automobiles sold in the U.S. to be zero-emission vehicles by 2030. The government also intends to create a network of 500,000 chargers that are convenient and accessible for Americans to use during both local and long-distance trips. These efforts contribute significantly to the growth of the electric vehicle power electronics market.
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Who Are the Dominant Companies Influencing Electric Vehicle Power Electronics Market Trends?
Major companies operating in the electric vehicle power electronics market are Robert Bosch GmbH, Tesla Inc., Siemens AG, Hitachi Automotive Systems Ltd., Denso Corporation, Continental AG, Hyundai Kefico Corporation, Mitsubishi Electric Corporation, Asea Brown Boveri Groups, Toshiba Corporation, Toyota Industries Corporation, Valeo Corporation, Texas Instruments, Infineon Technologies AG, NXP Semi Conductors, Renesas Electronics, OnSemi, Microchip Technology, Vishay Intertechnology, Danfoss Corporation, Fuji Electronic Co. Ltd., Delphi Technologies, Hangzhou Tiecheng Information Technology, Electrodrive Powertrain Solution Pvt. Ltd
What Are the Different Segmentations in the Electric Vehicle Power Electronics Market?
The electric vehicle power electronics market covered in this report is segmented -
1) By Component: Microcontroller, Sensor
2) By Device Type: Power Integrated Circuit (IC), Direct Component, Module
3) By Material: Silicon, Silicon Carbide, Gallium Nitride, Gallium Arsenide, Germanium, Other Materials
4) By Electric Vehicle: Battey Electric Vehicle, Plug In Hybrid Electric Vehicle, Hybrid Electric Vehicle, Fuel Cell Electric Vehicle
5) By Application: Advanced Driver Assistance Systems (ADAS) And Safety, Body Control And Comfort, Infotainment, Telematics, Engine Management And Powertrain, Battey Management
Subsegments:
1) By Microcontroller: Digital Signal Processors (DSP), Application-Specific Integrated Circuits (ASIC), Field-Programmable Gate Arrays (FPGA), Embedded Microcontrollers (MCUs)
2) By Sensor: Current Sensors, Voltage Sensors, Temperature Sensors, Position Sensors, Speed Sensors
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Which Region Is at the Forefront of the Electric Vehicle Power Electronics Market?
Asia-Pacific was the largest region in the electric vehicle power electronics market in 2024. The regions covered in the electric vehicle power electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Electric Vehicle Power Electronics Global Market Report?
- Market Size Analysis: Analyze the Electric Vehicle Power Electronics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electric Vehicle Power Electronics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electric Vehicle Power Electronics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electric Vehicle Power Electronics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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