The global automotive power electronics market size is projected to grow from USD 3.8 billion in 2020 to USD 4.7 billion by 2025, at a CAGR of 4.7%.
Increasing electronic content per vehicle, adoption of new safety features, development in vehicle powertrain and increasing vehicle management & connectivity features are fuelling factors for the growth of the automotive power electronics market.
Growing demand for safety and connectivity features inside the passenger vehicle likely to drive the growth of the automotive power electronics market during the forecast period
The automotive industry is witnessing a rapid evolution of safety features, which is expected to increase exponentially in the coming years to provide a safer and more convenient driving experience. Major OEMs are launching more passenger vehicles with ADAS & safety, infotainment and telematics features. Economy and mid-size class of passenger vehicles are getting inspired by safety and connectivity features from luxury vehicles.
They are getting installed with seat control, lighting, and infotainment features at an affordable price. Tier I and Tier II companies also try and develop new features in passenger vehicles only. Such features at the initial stage are offered in luxury vehicles. As the economies of scale reach, such features are offered in mid-size and economy vehicles. Government mandates related to vehicle safety and emission also force people to buy new vehicles. This has helped passenger vehicle to show the fastest growth among vehicle type segment for the automotive power electronics market.
Innovations in the field vehicle power converters for electric vehicles are helping the AC-DC, DC-AC & DC-DC converter segment to dominate the automotive power electronics market
In the context of electric vehicle power electronics, power converters are one area where innovation and development are ongoing. Power converters include an AC-DC converter known as a rectifier, DC-AC converter known as an inverter and DC-DC converter. These power converters are required in every kind of electric vehicles. Continuous innovation leads to the fluctuation of prices associated with the components of power converters.
This translates into the bigger market for AC-DC, DC-AC & DC-DC converter. In May 2019, Infineon Technologies launched power modules for xEV inverters. At the PCIM trade fair 2019, Infineon presented four new HybridPACK Drive modules optimized for different inverter performance levels between 100 kW and 200 kW. Such innovations in power converters lead to the dominance of AC-DC, DC-AC & DC-DC converter segment.
The flourishing automotive market in developing countries is driving the regional automotive power electronics market.
The Asia Pacific is holding the largest share in the automotive power electronics market. Whereas, South America is showing the highest growth rate among other regions. Both these regions comprise of some of the fastest-growing economies in the World. India, China, Brazil are considered as developing economies. These countries are large in terms of population, hence are the potential market for the automotive industry. The Asia Pacific has Japan and South Korea which are among the most developed countries in the context of technology innovation and adoption for automotive. Government mandates related to vehicle safety, emissions, connectivity in these countries are applicable for mass-produced vehicles.
The COVID-19 crisis has resulted in manufacturing and supply disruptions across the globe, due to which, the automobile industry in every region has experienced a decline in demand with an uncertain recovery timeline. Additionally, OEMs have stopped production across their manufacturing facilities in different regions, which has resulted in a decline in production as well as sales. Automotive-related high-tech tests that companies were carrying out in the different region have also been suspended.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Brief Overview of the Automotive Power Electronics Market 4.2 Asia Pacific Automotive Power Electronics Market, by Vehicle Type and Country 4.3 Automotive Power Electronics Market, by Country 4.4 Automotive Power Electronics Market, by Application Type 4.5 Automotive Power Electronics Market, by Vehicle Type 4.6 Automotive Power Electronics Market, by Device Type 4.7 Automotive Power Electronics Market for Electric Vehicle, by Device Type
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 18.104.22.168 Increasing Modernization of Vehicles to Impact the Power Electronics Market 22.214.171.124 Increasing Demand for Energy-Efficient, Battery-Powered Devices 126.96.36.199 Rising Trend of Vehicle Electrification 5.2.2 Restraints 188.8.131.52 Increase in the Overall Cost of the Vehicle 184.108.40.206 Complex Design and Integration Process for Advanced Applications 5.2.3 Opportunities 220.127.116.11 Growing Demand for Advanced Safety, Convenience, and Comfort Systems 18.104.22.168 Increasing Use of Sic and Gan Products in Vehicle Applications 5.2.4 Challenges 22.214.171.124 Managing Cost and Quality of Power Electronic Components 126.96.36.199 Demand for Compact Devices with High Efficiency 5.2.5 Impact of Market Dynamics 5.3 Revenue Shift Driving Market Growth 5.4 Value Chain Analysis 5.5 Average Selling Price Trend
6 Industry Trend 6.1 Automotive Power Electronics Life Cycle 6.2 Technology Analysis 6.2.1 Double-Side Cooling of Power Module 6.3 Automotive Power Electronics Market Trends 6.3.1 Use of Gallium Nitride Technology 6.3.2 Use of Modern Inverters for Electric Vehicles 6.3.3 Packaging Trend of Power Modules for Electric Vehicles 6.4 Porter's Five Forces
7 Impact Analysis: COVID-19 7.1 Introduction to COVID-19 7.2 COVID-19 Health Assessment 7.3 COVID-19 Economic Assessment 7.3.1 Scenarios in Terms of Recovery of the Global Economy 7.4 COVID-19 and the Automotive Industry 7.5 OEM Announcements 7.6 Impact on the Global Automotive Industry and Vehicle Production 7.7 Impact of COVID-19 on the Automotive Power Electronics Market 7.8 Automotive Power Electronics Market, Scenarios (2020-2025) 7.8.1 most Likely Scenario 7.8.2 Optimistic Scenario 7.8.3 Pessimistic Scenario
8 Automotive Power Electronics Market, by Material Type 8.1 Introduction 8.2 Silicon (Si) 8.3 Silicon Carbide (Sic) 8.4 Gallium Nitride (Gan) 8.5 Others 8.5.1 Gallium Oxide (Ga2O3) 8.5.2 Diamond (C)
9 Automotive Power Electronics Market, by Device Type 9.1 Introduction 9.1.1 Assumptions 9.1.2 Research Methodology for Device Type 9.2 Device Type 9.2.1 Power IC 9.2.2 Power Module 188.8.131.52 Intelligent Power Module (Ipm) 184.108.40.206 Power Integrated Module (Pim) 9.2.3 Power Discrete 220.127.116.11 Diode 18.104.22.168 Transistor 22.214.171.124 Thyristor 9.3 Key Industry Insights
10 Automotive Power Electronics Market, by Application Type 10.1 Introduction 10.1.1 Assumptions 10.1.2 Research Methodology for Application Type 10.2 Application Type 10.2.1 ADAS & Safety 10.2.1.1 Adas 10.2.1.2 Electric Power Steering (Eps) 10.2.1.3 Anti-Lock Braking System (Abs) 10.2.2 Body Control & Comfort 10.2.2.1 TPMS 10.2.2.2 Lighting 10.2.2.2.1 Exterior Lighting 10.2.2.2.2 Interior Lighting 10.2.2.3 Seat Control 10.2.2.3.1 Heated Seats 10.2.2.3.2 Seat Adjustment 10.2.2.4 HVAC 10.2.2.5 Start-Stop Module 10.2.3 Infotainment 10.2.3.1 Instrument Cluster 10.2.3.2 Audio System 10.2.4 Telematics 10.2.4.1 Vehicle Management 10.2.4.2 V2X 10.2.5 Engine Management & Powertrain 10.2.5.1 Engine Control 10.2.5.2 Transmission Control 10.2.6 Battery Management 10.3 Key Industry Insights
11 Automotive Power Electronics Market, by Component Type 11.1 Introduction 11.1.1 Assumptions 11.1.2 Research Methodology for Component Type 11.2 Sensor 11.3 Microcontroller 11.4 Key Industry Insights
12 Automotive Power Electronics Market, by Vehicle Type 12.1 Introduction 12.1.1 Assumptions 12.1.2 Research Methodology for Vehicle Type 12.2 Vehicle Type 12.2.1 Passenger Vehicle 12.2.2 Light Commercial Vehicle 12.2.3 Heavy Commercial Vehicle 12.3 Key Industry Insights
13 Automotive Power Electronics Market, by Electric Vehicle Type 13.1 Introduction 13.1.1 Battery Management System (Bms) 13.1.2 On-Board Charger (Obc) 13.1.3 Motor 13.1.4 AC-DC, DC-AC & DC-DC Converter 13.1.5 Assumptions 13.1.6 Research Methodology for Electric Vehicle Type 13.2 Battery Electric Vehicles 13.3 Hybrid Electric Vehicles 13.4 Plug-In Hybrid Electric Vehicles 13.5 Key Industry Insights
14 Automotive Power Electronics Market, by Region 14.1 Introduction 14.2 Asia Pacific 14.3 Europe 14.4 North America 14.5 South America 14.6 Rest of the World (Row) 14.7 Key Industry Insights