Electric Vehicle Power Electronics Industry Outlook 2025-2029: Market Set to Cross $50.68 Billion Milestone

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

How Large Will the Electric Vehicle Power Electronics Market Size By 2025?
The market size of electric vehicle power electronics has seen a remarkable surge in its growth in the past few years. The market, which was valued at $12.2 billion in 2024, is expected to increase to $16.69 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 36.8%. The phenomenal growth during the historical period is credited to factors such as stringent government norms and incentives, energy efficiency mandates, environmental apprehensions, customer demand, fluctuation in fuel prices, reduction in costs, affordability, and partnerships and investments.

How Big Is the Electric Vehicle Power Electronics Market Size Expected to Grow by 2029?
The market for power electronics in electric vehicles is predicted to surge remarkably in the forthcoming years, hitting a valuation of $50.68 billion in 2029, with a compound annual growth rate (CAGR) of 32.0%. The predicted growth in this period is attributable to factors such as growing population, escalating infotainment, rising number of electric vehicles, and an increasing demand for affordable and eco-friendly modes of transport. Key trends expected during this forecast period include progression in battery technology and technological and product innovations.

View the full report here:
https://www.thebusinessresearchcompany.com/report/electric-vehicle-power-electronics-global-market-report

Which Key Market Drivers Powering Electric Vehicle Power Electronics Market Expansion and Growth?
The push by the government to manage environmental pollution is foreseen to stimulate the expansion of the electric vehicle power electronic market in the future. The government's focus on pollution regulation refers to efforts that guard the environment, conserve natural resources and balance other policy goals like affordable energy and economic growth. Government initiatives contribute to reducing environmental pollution by fostering research and instituting regulations aimed at improving the efficiency and sustainability of power electronic systems in electric cars. As an example, in 2022, the U.S. Department of Transportation, a government agency based in the U.S., has a goal to ensure that half of all new cars sold in the U.S. are zero-emission vehicles by 2030. The government also plans to establish a network of 500,000 chargers that are easy to use and readily available for local and long-distance travel in America. As a result, the government's effort to counterbalance environmental pollution is a driving force for the electric vehicle power electronic market growth.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14349&type=smp

Which Fast-Growing Trends Are Poised to Disrupt the Electric Vehicle Power Electronics Market?
Leading corporations functioning in the electric vehicle power electronic market are concentrating on innovation and the introduction of novel technology modules, such as power semiconductor modules, aiming to increase their market profitability. Power semiconductor modules are consolidated electronic devices consisting of multiple power semiconductor components. An example of recent development is in May 2022, Hitachi Energy Ltd., a tech firm based in Japan, unveiled Roadpak, a groundbreaking power semiconductor module. This module adopts advanced silicon carbide (SiC) technology for optimum power density, minimal power losses, and high effectiveness within electric vehicles. This technology is vital for improving the performance of electric vehicles by facilitating rapid charging, amplifying driving range, and guaranteeing smooth operation throughout the vehicle's lifespan.

What Are the Emerging Segments 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

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=14349&type=smp

Who Are the Global Leaders in the Electric Vehicle Power Electronics Market?
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

Which are the Top Profitable Regional Markets for the Electric Vehicle Power Electronics Industry?
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.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14349

"This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.