Press release
Emerging Sub-Segments Transforming the Automotive Power Electronics Market Landscape
Automotive Power Electronics Market
Projected Market Size and Growth in the Automotive Power Electronics Market
The automotive power electronics market is anticipated to reach a valuation of $5.83 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.1%. This upward trajectory is driven by several factors including the rapid increase in electric vehicle penetration, wider adoption of silicon carbide devices, growing demand for fast charging solutions, governmental mandates on vehicle electrification, and ongoing enhancements in power density optimization. Key trends expected to dominate the market include the transition toward wide bandgap semiconductors, higher integration of power modules, increased demand for high-efficiency inverters, the miniaturization of power electronics components, and advancements in thermal management technologies.
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Significant Players Leading the Automotive Power Electronics Industry
The market features a robust lineup of established companies that are shaping its evolution. Noteworthy names include Robert Bosch GmbH, Hitachi Automotive Systems Ltd., LG Electronics Inc., Panasonic Corporation, Continental AG, Hyundai Mobis, Magna International Inc., Mitsubishi Electric Corporation, ABB Ltd., Toshiba Corporation, Texas Instruments Incorporated, STMicroelectronics, Infineon Technologies AG, NXP Semiconductors N.V., Delta Electronics Inc., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor, Microchip Technology Inc., Rohm Semiconductor, Vishay Intertechnology, Maxim Integrated, Fairchild Semiconductor, Allegro Microsystems, and Cree Inc.
Infineon Technologies AG's Strategic Acquisition to Boost Power Electronics Innovation
In February 2024, Infineon Technologies AG, the Germany-based semiconductor manufacturer, acquired GaN Systems Inc., a Canadian company specializing in gallium nitride (GaN) semiconductor technology for automotive power electronics. Although the financial terms were not disclosed, this acquisition is a strategic move to enhance Infineon's GaN technology portfolio, accelerating innovation in power electronics by leveraging GaN Systems' advanced capabilities.
View the full automotive power electronics market report:
https://www.thebusinessresearchcompany.com/report/automotive-power-electronics-global-market-report
Key Technological Trends in the Automotive Power Electronics Market
Leading companies are investing heavily in innovative solutions that integrate highly scalable Internet of Things (IoT) Software-as-a-Service (SaaS) platforms. These cloud-based software systems are designed to manage and analyze large amounts of data from connected devices, enabling smarter, more energy-efficient vehicle systems. Such platforms improve vehicle connectivity and performance through real-time data analytics and cloud-based optimization.
For example, in April 2024, Siemens AG launched Electrification X, a comprehensive IoT and SaaS platform aimed at advancing electrification across multiple industries. This platform links energy systems with digital tools to streamline digital management and optimize electric infrastructure. Electrification X provides tools for problem detection, asset optimization, and load balancing, thereby simplifying power management and supporting sustainability initiatives in e-mobility.
Breakdown of Key Segments in the Automotive Power Electronics Market
This market report categorizes the automotive power electronics industry into several important segments:
1) By Component: Microcontroller Unit (MCU), Power Integrated Circuit, Sensor
2) By Vehicle Type: Passenger Car, Commercial Vehicle
3) By Electric Vehicle Type: Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-In Hybrid Electric Vehicles
4) By Application: Chassis and Powertrain, Safety and Security System
Detailed subsegments include:
- Microcontroller Unit (MCU): 8-Bit MCUs, 16-Bit MCUs, 32-Bit MCUs, Automotive-Grade MCUs for safety systems, MCUs for electric and hybrid vehicles, MCUs for Advanced Driver Assistance Systems (ADAS), and powertrain control MCUs.
- Power Integrated Circuit (IC): Power MOSFET ICs, Power Diode ICs, Integrated Power Modules (IPM), Automotive Power Management ICs, Motor Driver ICs, DC-DC Converter ICs, and Inverter and Rectifier ICs.
- Sensor Types: Voltage, Current, Temperature, Pressure, Position sensors for motor control, Hall Effect sensors, Speed and Torque sensors, and sensor fusion technologies for electrified powertrains.
Together, these components and segments provide a comprehensive view of the automotive power electronics landscape and highlight the areas driving innovation and growth across the industry into 2030 and beyond.
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