Automotive Power Electronics Market Size, Share, Growth, Trends and Investment Opportunities To 2023
Market Overview
Global Automotive Power Electronics Market 2020is slated tomature at a CAGR of 5.12% and reach USD 5.5 billion by 2023
Market highlights
Over the past few years, the global automotive powerelectronics market has experienced potential growth and the market has beenanalysed to expand at the same rate during the forecast period. Increaseddemand for new technologies in cars, increasing environmental issues leading toan increased usage of electric vehicles and increased protection of electroniccontrol panels in vehicles are the reasons responsible for the growth of theautomotive electronics industry. In electric vehicles, which need powerelectronics for system safety, advancements in technologies such as electronicstability control (ESC), advanced driver assistance systems ( ADAS), andelectronic control units (ECU) have emerged.
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The growth in the use of power electronics in cars hascontributed to this development in technology. During the projected era, therise in the use of power electronics in electric vehicles resulted in marketdevelopment. The rising environmental problem caused by pollution hascontributed to increased demand for electric cars. Increasing demand forelectric vehicles has led to an increase in the use of power electronics, whichwill drive the market. The price of crude oil per barrel has risen verysteadily over the last decade, and its supply has declined day by day. Becauseof these reasons, the population's demand for electric cars is changing.
AutomotivePower Electronics Market Segmental Analysis
Based on the feature, function, vehicle model, and area, theautomotive power electronics market has been segmented. The market has beensegmented as MCU, Control IC, and Sensor on a part basis. During the forecastera, the sensor segment is expected to experience the highest growth since itis the main component of electric vehicles.
Sensors are used mostly in ADAS, Electronic StabilityControl (ESC) and Electronic Unit of Control (ECU) systems, which are leadingtechnologies used in electric vehicles.
The market has been segmented as chassis & powertrain,body electronics, infotainment & telematics, and protection & securitysystems, based on applications. Due to increasing government regulations andthe initiative to adopt smart transportation solutions with advanced safetyfeatures, the body electronics segment is expected to dominate the marketduring the forecast period.
Due to increasingly growing sales of electric vehicles, thepassenger car segment is expected to dominate the market during the forecastperiod based on the vehicle model.
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Regional Synopsis
North America, Asia Pacific, Europe, and the rest of theworld are segmented on a region-based basis.
North America is expected to lead the car industry for powerelectronics since the U.S. has invested the most on battery-operated electriccars in North America.
Due to the increased acceptance of emerging technologies inelectric vehicles, Asia Pacific is anticipated to have the largest market shareduring the forecast period. This would increase demand for power electronics,which is projected to lead to industry growth over the forecast period.
In Europe, countries such as the United Kingdom, Germany,France and Italy have made significant strides to improve technologies in the automobilefield. This development in technology has resulted in the growth of the marketduring the forecast period.
Competitive Dashboard
The key players global automotive power electronicsmarket areTexas Instruments Inc. (U.S.), Infineon Technologies AG(Germany), Qualcomm Ins. (U.S.), ON Semiconductor Corp. (U.S.), RenessaElectronics Corp. (Japan), Mitsubishi Heavy Industries Ltd. (Japan), NXPSemiconductors N.V. (Netherlands), Maxim Products Inc. (U.S.), Robert BoschGmbH (Germany), and Vishay Intertechnology Inc. (U.S.).
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 RESEARCH OBJECTIVES
2.2.2 ASSUMPTIONS & LIMITATIONS
2.3 MARKETS STRUCTURE
3 MARKET RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
3.4 FORECAST MODEL
4 MARKET LANDSCAPE
4.1 FIVE FORCES ANALYSIS
4.1.1 THREAT OF NEW ENTRANTS
4.1.2 BARGAINING POWER OF BUYERS
4.1.3 BARGAINING POWER OF SUPPLIERS
4.1.4 THREAT OF SUBSTITUTES
4.1.5 SEGMENT RIVALRY
4.2 VALUE CHAIN/SUPPLY CHAIN OF GLOBAL POWER ELECTRONICSMARKET
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