Press release
Automotive Power Discrete Industry Outlook 2025-2029: Market Set to Cross $5.9 Billion Milestone
Automotive Power Discrete
How Large Will the Automotive Power Discrete Market Size By 2025?
In recent times, the size of the automotive power discrete market has been expanding consistently. It is projected to increase from $4.64 billion in 2024 to $4.84 billion in 2025, with a compound annual growth rate (CAGR) of 4.2%. The growth observed during the historical period is due to factors such as the transition to autonomous features, growth in the global automotive industry, progress in safety systems, emphasis on fuel efficiency, and stricter emission regulations.
How Big Is the Automotive Power Discrete Market Size Expected to Grow by 2029?
In the coming years, it is projected that the automotive power discrete market will experience significant expansion, reaching an estimated value of $5.9 billion in 2029. This represents a compound annual growth rate (CAGR) of 5.1%. Factors contributing to this growth include the proliferation of electric vehicles, developments in vehicle electrification, increased integration of automotive electronics, adherence to more stringent emission standards, and the rise of autonomous and connected vehicles. The forecast period is expected to be characterized by the surge of the electric vehicle revolution, advancements in automotive electronics, increased demand for fuel efficiency, the uptake of hybrid vehicles, government directives, and emission standards.
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Which Key Market Drivers Powering Automotive Power Discrete Market Expansion and Growth?
The surge in electric car demand is predicted to drive the expansion of the automotive power discrete market. Electric cars, which are vehicles that run on electricity as opposed to using conventional internal combustion engines with gasoline or diesel, incorporate essential automotive power discrete components. These components are vital in managing and directing the electrical power within the car's electrical and battery management systems, ensuring the battery is safeguarded from overcharging or discharging, thereby guaranteeing a secure and effective operation. As highlighted by the France-based International Energy Agency (IEA) in April 2023, 14% of all new cars sold worldwide the previous year were electric, showing a 9% rise from 2021. Additionally, the predicted sale of 14 million electric cars by the close of 2023, showing a 35% annual increase, further underscores the growth in electric car demand, thus fueling the expansion of the automotive power discrete market.
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What Trends Will Shape the Automotive Power Discrete Market Through 2029 and Beyond?
Major firms active in the automotive power discrete industry are honing in on the creation of high-power on-board chargers to secure an industry advantage. These chargers and the sophisticated electrical parts inside an electric or plug-in hybrid car play a crucial role in swiftly turning AC electrical power into DC power needed to fuel the car's high-voltage battery pack. To illustrate, Onsemi, a United States semiconductor production corporation, unveiled the APM32 series of power modules for electric vehicles' on-board chargers in September 2022. These modules leverage silicon carbide (SiC) technology and are engineered expressly for high-power on-board chargers (OBC) offering 11-22 kW capacity. Built using SiC technology in a transfer-molded package, the APM32 series, a trailblazer in its area, boosts efficiency and reduces charging time for all kinds of electric vehicles.
What Are the Emerging Segments in the Automotive Power Discrete Market?
The automotive power discrete market covered in this report is segmented -
1) By Product: Gallium Nitride (GaN), Silicon Carbide (SiC)
2) By Devices: Power Integrated Circuits (IC), Power Module Or Discrete
3) By Component: Microcontroller, Sensor
4) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
Subsegments:
1) By Gallium Nitride (GaN): GaN Power Transistors, GaN Power ICs, GaN Power Modules
2) By Silicon Carbide (SiC): SiC MOSFETs, SiC Schottky Diodes, SiC Power Modules
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Who Are the Global Leaders in the Automotive Power Discrete Market?
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.
Which are the Top Profitable Regional Markets for the Automotive Power Discrete Industry?
North America was the largest region in the automotive power discrete market in 2024. The regions covered in the automotive power discrete market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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