Global Automotive Power Electronics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Automotive Power Electronics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global automotive power electronics market report has been segmented on the basis of component, vehicle type, application, and region.

Request Covid - 19 Impact

Global Automotive Power Electronics Market: Overview

The application of solid state devices such as thyristors, diode, silicon-controlled rectifier (SCR), power MOSFET, gate turn-off thyristors, and others for controlling the flow of electrical energy with the help of electronic circuits is called as power electronics. Automotive power electronics used to control high voltage and converting electric power in a most proficient way. These devices help to monitor power consumption in an optimized manner.

Global Automotive Power Electronics Market: Dynamics

Increasing vehicle production, increasing adoption of safety systems such as advanced driver assistance systems (ADAS), along with stringent security and safety norms introduced by the government and regulatory authority are some of the major factors projected to bolster growth of the global market. Moreover, the rising preference of vehicle electrifications, coupled with increasing demand for performance improvement and fuel efficiency are some other factors projected to fuel growth of the target market over the forecast period. The growing environmental concerns and focus regarding reduction in cost and size of the components and systems are anticipated to drive the market in the future. In addition, increasing R&D activities related to the automotive and power electronics sector, which is anticipated to create potential opportunities in terms of revenue for manufacturers operating in the global market.

However, complex design and integration process may restrain growth of the global automotive power electronics market over the forecast period. Whereas, a recent trend observed in the target market is demand for energy-efficient battery-powered devices is increasing day-by-day.

Global Automotive Power Electronics Market: Segment Analysis

Among the component segments, the power ICs segment is estimated to account for substantial revenue share in the global market.

Among the vehicle type segments, the passenger car segment is anticipated to register a significant growth rate over the forecast period.

Among the application segments, the powertrain & chassis segment is expected to account for a considerable share in the global market.

Global Automotive Power Electronics Market: Regional Analysis

The Asia Pacific dominates the global automotive power electronics market. Increasing production of the automobiles, regulations to install automotive safety technologies, along with the presence of major manufacturers are major factors expected to drives growth of the Asia Pacific automotive power electronics market. The increasing adoption of power electronics electric vehicles with increasing efforts by the regional governments and environmental agencies to lower emission levels. Moreover, growing demand for passenger and commercial vehicles from developing countries such as India and China has estimated to drive the target market.

The Europe automotive power electronics market is expected to witness considerable growth over the forecast period, owing to increasing adoption of electric vehicles. Furthermore, advancements in the automobiles and increasing focus on lightweight vehicles along with high-performance, which is expected to boost the market growth.

The market in Middle East & Africa and Latin America accounts for a considerable share in the global market and is projected to register a considerable growth rate in the next 10 years.

Global Automotive Power Electronics Market Segmentation:

Segmentation by Component:

• Microcontroller Units (MCUs)
• Power ICs
• Sensors

Segmentation by Vehicle Type:

• Passenger Vehicles
• Commercial Vehicles
• Electric Vehicles

Segmentation by Application:

• Powertrain & Chassis
• Body Electronics
• Safety & Security
• Infotainment and Telematics

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa