Automotive Power Electronics Market Size, Share, Growth Analysis, By Device(power IC, and module & discrete), By Application(ADAS & safety, body control & comfort, infotainment, telematics), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45N2095 | Region: Global | Published Date: July, 1990
Pages: 197 |Tables: 65 |Figures: 72

Automotive Power Electronics Market Insights

Global Automotive Power Electronics Market size was valued at USD 4.17 billion in 2022 and is poised to grow from USD 4.37 billion in 2023 to USD 6.30 billion by 2031, growing at a CAGR of 4.7% during the forecast period (2024-2031).

Power electronics is a vital field of electronics that focuses on regulating power fluctuations in various components, including monitoring diodes and transistors.

By utilizing solid-state circuit devices, power electronics effectively transmit current from the source to the load, optimizing energy conservation. These devices also have the unique ability to allow current to flow in both directions, resulting in higher system efficiency and the ability to withstand high power temperatures.

In modern automobiles, power electronics play a crucial role in both the interior and exterior systems, including telematics, infotainment, powertrain, safety, security, and body control. With their widespread use, power electronics have become an essential aspect of the automotive industry.

Additionally, factors such as the trade dispute between the US and China, as well as a temporary halt in raw material exports from China, had a profound impact on the global automotive power electronics market. However, as economic activities gradually resumed during the latter part of 2020, the industry is poised to regain momentum during the projected period.

In the pursuit of exceptional performance and affordability, the automotive sector is pouring substantial resources into research and development for cutting-edge electronics and energy storage technology. As a result, original equipment manufacturers are placing greater dependence on electronics to achieve unparalleled levels of safety.

The transformation of the automobile industry from traditional mechanical systems to the integration of electronic systems is a dynamic force propelling market growth. This evolution is particularly evident in the indispensable role of power electronics in powering critical aspects such as body electronics, chassis systems, telematics, safety and security, and infotainment systems, all contributing to the continuous expansion of this market.

An increasingly stringent focus on reducing carbon emissions worldwide has led to government regulations aimed at promoting vehicle electrification, thus playing a crucial role in driving market growth. At the same time, consumer demand for cutting-edge technology and enhanced safety features in their vehicles is also contributing to the expansion of the market.

With ongoing advancements in automotive technology and research efforts dedicated to improving power electronics for greater fuel efficiency, the global market is expected to experience continuous growth in the coming years.

Market Snapshot - 2024-2031

Global Market Size

USD 4.17 billion

Largest Segment

Power IC

Fastest Growth

Power IC

Growth Rate

4.7% CAGR

Global Automotive Power Electronics Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Automotive Power Electronics Market Segmental Analysis

The global automotive power electronics market is segmented on the basis of device type, application, and region. Based on device type, the market is segmented into power IC, and module & discrete. By application, the market is categorized into ADAS & safety, body control & comfort, infotainment, telematics, engine management & powertrain, and battery management. Region wise, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Device

Power modules, a crucial component within the automotive power electronics industry, hold the biggest market share. These modules play a vital role in electric and hybrid vehicles, effectively managing power to enhance efficiency. Comprised of power semiconductors, capacitors, and other elements, these modules enable the conversion and regulation of electric power within a vehicle's systems. With the automotive industry rapidly moving towards electric propulsion, the demand for power modules remains high, reflecting the increasing adoption of electrification.

At this time, the Power IC (Integrated Circuits) market is expanding at the most rapid pace, a testament to the industry's prioritization of size reduction, energy conservation, and the fusion of electronic features in a condensed structure. With ongoing advancements in semiconductor technology, the Power IC division is experiencing exponential growth, empowering the creation of intricate and compact power management solutions for use in the automotive sector.

Analysis by Application

The engine management and powertrain category is considered the most significant among these. It covers crucial elements such as inverters, converters, and power modules that play a crucial role in managing electric power in both traditional and electric vehicles. Top-performing powertrain systems are essential in maximizing vehicle performance, converting energy efficiently, and improving overall fuel efficiency.

As the automotive industry places greater emphasis on electrification and sustainability, one segment in particular is gaining significant traction: battery management. With the rise of electric vehicles comes the need for advanced battery management systems that effectively monitor, regulate, and enhance the performance of energy storage units. This trend showcases the industry's dedication to addressing environmental issues and pushing forward with innovative solutions for electric mobility.

Global Automotive Power Electronics Market By Device Type, 2022 (%)

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Automotive Power Electronics Market Regional Insights

China, South Korea, and Japan dominate the automotive power electronics market in the Asia Pacific region. This is thanks to the significant car production and rising adoption of advanced electronics in these countries. The governments of these nations have acknowledged the potential for growth in the automotive industry and have implemented various measures to attract major automakers to their domestic markets. Several prominent European and American car manufacturers, like Volkswagen (Germany), Mercedes Benz (Germany), and General Motors (US), have also moved their production facilities to emerging economies in the region. Additionally, the Asia Pacific region boasts top semiconductor suppliers, ensuring easy access to power electronic components.

Prominent players in the automotive power electronics market, such as Robert Bosch (Germany) and Continental (Germany), have established production facilities throughout the region. Despite a decline in vehicle sales due to the COVID-19 pandemic, the implementation of safety regulations will undoubtedly drive the adoption of power electronics features in upcoming vehicles. For example, China has already mandated the use of tire pressure monitoring systems (TPMS) in vehicles since 2019 and is currently considering making automatic emergency braking systems a requirement. Additionally, the Chinese government has implemented various measures to stimulate economic recovery, including promoting domestic consumption, supporting the development of new energy vehicles, and implementing monetary and fiscal policies. As a result, the automotive industry is expected to experience significant growth during the forecast period.

Global Automotive Power Electronics Market By Region, 2024-2031
  • Largest
  • Fastest

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Automotive Power Electronics Market Dynamics

Drivers

Increasing Usage of Electric Vehicles across the World

  • An accelerating trend towards electric vehicles (EVs) is propelling the conservation of our environment to new heights. With the shift from fossil fuels to electricity, EVs offer significant sustainability benefits. This transformation towards electric mobility in the transportation industry is driving global demand for automotive power electronics. These crucial components are responsible for regulating and optimizing electrical energy flow within EV systems, including lighting, heating and ventilation, and entertainment. Due to their impressive efficiency, the use of MOSFETs in power electronic switches has led to a reduction in overall size, further fueling the demand for EVs worldwide.

Restraints

Complex design and integration process for advanced applications

  • The automotive power electronics industry is experiencing a transformation as multiple functions are now being integrated into a single chip. This shift towards integration has led to more intricate design processes. It is driven by the industry's demand for advanced and cost-efficient solutions that offer improved power efficiency, reduced switching losses, and smaller module sizes. However, with more advanced technology comes the challenge of high switching frequencies, presenting unique design obstacles. The complexity of controlling these algorithms can decrease switching speed and ultimately impact performance. Additionally, some devices require special cooling solutions, posing a challenge for design engineers.

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Automotive Power Electronics Market Competitive Landscape

The automotive power electronics market is a rapidly evolving scene, with key players continuously pushing for progress and dominance. As the industry transitions towards integrated solutions on a single chip, there is immense competition to create innovative and highly efficient products that cater to the growing demand. Meeting the expectations of enhanced power efficiency, reduced switching losses, and smaller module sizes requires intricate design processes, making it a challenging yet engaging task for companies. This shift towards heightened performance also presents new obstacles, such as high switching frequencies and the intricacy of control algorithms, which can potentially impact the overall system performance. In this environment, companies are focused on overcoming design obstacles and optimizing thermal management solutions to ensure the seamless integration of power electronics into modern vehicles, positioning themselves strategically in a competitive market shaped by technological advancements and a growing emphasis on energy efficiency and electrification.

Top Player’s Company Profiles

  • Infineon Technologies AG
  • Texas Instruments Inc.
  • NXP Semiconductors N.V.
  • STMicroelectronics N.V.
  • Robert Bosch GmbH
  • ON Semiconductor Corporation
  • Toshiba Corporation
  • Mitsubishi Electric Corporation
  • Renesas Electronics Corporation
  • Silicon Labs
  • Maxim Integrated
  • Analog Devices Inc.
  • Vishay Intertechnology Inc.
  • Aptiv PLC
  • Cree Inc.
  • Rohm Co. Ltd.
  • Semikron International GmbH

Recent Developments

  • In September 2021, Infineon Technologies AG and Panasonic Corporation joined forces to create the next generation (Gen2) of their highly successful gallium nitride (GaN) technology. This new technology promises improved efficiency and higher power density levels.
  • In June 2021, STMicroelectronics introduced their STi2GaN solutions for automotive applications. This powerful family of products combines GaN technology with a monolithic power stage, drivers, and protections, as well as SiP solutions for customized integrated circuits with extra processing and control circuitry.

Automotive Power Electronics Key Market Trends

  • The world of automotive power electronics is experiencing exciting leaps forward, with a particular focus on the ongoing advancements of power semiconductor devices. The ever-evolving landscape is largely fueled by the continuous development of state-of-the-art technologies such as insulated gate bipolar transistors (IGBTs), silicon carbide (SiC), and gallium nitride (GaN). These innovative semiconductor devices are revolutionizing electric drivetrains, unlocking higher power densities, and improving efficiency. With improved switching capabilities, reduced power losses, and greater thermal conductivity, IGBTs, SiC, and GaN devices are crucial for enhancing the efficiency and reliability of automotive power electronics systems. As the automotive industry shifts towards electrification, the continuous advancement of these semiconductor technologies highlights a dedication to achieving superior energy efficiency and performance in electric vehicles. This, in turn, drives the expansion of the automotive power electronics market.

Automotive Power Electronics Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analyses, the global automotive power electronics market is experiencing strong growth fueled by the rising popularity of electric vehicles (EVs) and the incorporation of advanced electronic systems in traditional internal combustion engine vehicles. This market is marked by a significant increase in the usage of power electronics components like inverters, converters, and power modules to effectively regulate and manipulate electric power in vehicles. Some of the key drivers behind the expansion of this market include government initiatives to promote sustainable transportation, a growing awareness of environmental issues, and continuous developments in power semiconductor technologies.

Report Metric Details
Market size value in 2022 USD 4.17 billion
Market size value in 2031 USD 6.30 billion
Growth Rate 4.7%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Device
    • power IC, and module & discrete
  • Application
    • ADAS & safety, body control & comfort, infotainment, telematics, engine management & powertrain, and battery management
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Infineon Technologies AG
  • Texas Instruments Inc.
  • NXP Semiconductors N.V.
  • STMicroelectronics N.V.
  • Robert Bosch GmbH
  • ON Semiconductor Corporation
  • Toshiba Corporation
  • Mitsubishi Electric Corporation
  • Renesas Electronics Corporation
  • Silicon Labs
  • Maxim Integrated
  • Analog Devices Inc.
  • Vishay Intertechnology Inc.
  • Aptiv PLC
  • Cree Inc.
  • Rohm Co. Ltd.
  • Semikron International GmbH
Customization scope

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  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Automotive Power Electronics Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Automotive Power Electronics Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Automotive Power Electronics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Power Electronics Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Power Electronics Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Automotive Power Electronics Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Automotive Power Electronics Market size was valued at USD 4.17 billion in 2022 and is poised to grow from USD 4.37 billion in 2023 to USD 6.30 billion by 2031, growing at a CAGR of 4.7% during the forecast period (2024-2031).

The automotive power electronics market is a rapidly evolving scene, with key players continuously pushing for progress and dominance. As the industry transitions towards integrated solutions on a single chip, there is immense competition to create innovative and highly efficient products that cater to the growing demand. Meeting the expectations of enhanced power efficiency, reduced switching losses, and smaller module sizes requires intricate design processes, making it a challenging yet engaging task for companies. This shift towards heightened performance also presents new obstacles, such as high switching frequencies and the intricacy of control algorithms, which can potentially impact the overall system performance. In this environment, companies are focused on overcoming design obstacles and optimizing thermal management solutions to ensure the seamless integration of power electronics into modern vehicles, positioning themselves strategically in a competitive market shaped by technological advancements and a growing emphasis on energy efficiency and electrification. 'Infineon Technologies AG', 'Texas Instruments Inc.', 'NXP Semiconductors N.V.', 'STMicroelectronics N.V.', 'Robert Bosch GmbH', 'ON Semiconductor Corporation', 'Toshiba Corporation', 'Mitsubishi Electric Corporation', 'Renesas Electronics Corporation', 'Silicon Labs', 'Maxim Integrated', 'Analog Devices Inc.', 'Vishay Intertechnology Inc.', 'Aptiv PLC', 'Cree Inc.', 'Rohm Co. Ltd.', 'Semikron International GmbH'

An accelerating trend towards electric vehicles (EVs) is propelling the conservation of our environment to new heights. With the shift from fossil fuels to electricity, EVs offer significant sustainability benefits. This transformation towards electric mobility in the transportation industry is driving demand for automotive power electronics. These crucial components are responsible for regulating and optimizing electrical energy flow within EV systems, including lighting, heating and ventilation, and entertainment. Due to their impressive efficiency, the use of MOSFETs in power electronic switches has led to a reduction in overall size, further fueling the demand for EVs worldwide.

The world of automotive power electronics is experiencing exciting leaps forward, with a particular focus on the ongoing advancements of power semiconductor devices. The ever-evolving landscape is largely fueled by the continuous development of state-of-the-art technologies such as insulated gate bipolar transistors (IGBTs), silicon carbide (SiC), and gallium nitride (GaN). These innovative semiconductor devices are revolutionizing electric drivetrains, unlocking higher power densities, and improving efficiency. With improved switching capabilities, reduced power losses, and greater thermal conductivity, IGBTs, SiC, and GaN devices are crucial for enhancing the efficiency and reliability of automotive power electronics systems. As the automotive industry shifts towards electrification, the continuous advancement of these semiconductor technologies highlights a dedication to achieving superior energy efficiency and performance in electric vehicles. This, in turn, drives the expansion of the automotive power electronics market.

China, South Korea, and Japan dominate the automotive power electronics market in the Asia Pacific region. This is thanks to the significant car production and rising adoption of advanced electronics in these countries. The governments of these nations have acknowledged the potential for growth in the automotive industry and have implemented various measures to attract major automakers to their domestic markets. Several prominent European and American car manufacturers, like Volkswagen (Germany), Mercedes Benz (Germany), and General Motors (US), have also moved their production facilities to emerging economies in the region. Additionally, the Asia Pacific region boasts top semiconductor suppliers, ensuring easy access to power electronic components.

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