NEW YORK, Aug. 14, 2017 /PRNewswire/ -- "Rising trend of vehicle electrification is triggering the market of automotive power electronics"
The global automotive power electronics market is estimated to be USD 4.41 billion in 2017 and is projected to reach USD 5.49 billion by 2022, at a CAGR of 4.48%. The electrification of drivetrain, owing to the growth of hybrid electric vehicles (HEV) and fully electric vehicles (EV), is expected to increase the usage of power electronic components in automobiles to a large extent in the near future. The automotive power electronics market has shown steady growth in developing countries such as India, China, and the Middle East. However, despite the high demand for advanced automotive power electrical systems, the market faces challenges of providing integrated and lightweight components along with optimizing cost and maintaining the quality standards.
"Body electronics application is estimated to have the largest share of the automotive power electronics market in 2017"
The body electronics application is estimated to hold the largest share of the power electronics market in 2017. The growth of this segment can be attributed to the wide range of advanced features such as power steering, HVAC system, instrument cluster, and lighting of passenger cars as well as commercial vehicles.
The increased installation rate of high-end electronics in passenger cars increases the complexity in the power electronic modules of the system. This factor drives the cost of components used in body electronics, which accounts for the largest share of the automotive power electronics market.
"Sensors market is estimated to witness the highest growth rate during the forecast period"
The sensors market is estimated to grow at the highest CAGR during the forecast period. The growing installation rate of advanced safety and security features in a vehicle has triggered the growth of the sensors market. OEMs are also focusing on research and development for widening the application of sensors in a vehicle, which is making sensors a lucrative market for Tier I manufacturers and OEMs.
"Asia-Pacific is estimated to be the fastest growing market for the automotive power electronics market"
Asia-Pacific region is estimated to grow at a highest CAGR by value over the projected period from 2017 to 2022. High volume markets with increased demand for high end electronic and safety features in the passenger cars makes Asia-Pacific the largest regional market for automotive power electronics. Also, upcoming legislations for safety technologies in developing countries is the major factor which will drive this market.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type - Tier 1 - 42%, Tier 2 - 26%, Others - 32%
• By Designation - C level - 42%, D level - 26%, Others - 32%
• By Region - North America - 38%, Europe - 22%, Asia-Pacific - 30%, Rest of the World - 10%
Major players profiled in the report are:
• Continental AG (Germany)
• Fuji Electric Co. Ltd. (Tokyo)
• Infineon Technologies AG (Germany)
• NXP Semiconductors N.V. (Netherlands)
• ON Semiconductors Corp. (U.S.)
• Renesas Electronics Corp. (Japan)
• Robert Bosch GmbH (Germany)
• Rohm Co. Ltd. (Japan)
• STMicroelectronics N.V. (Switzerland)
• Texas Instruments Inc. (U.S.)
• Toshiba Corp. (Japan)
• Vishay Inetrtechnlogy Inc. (U.S.)
The report segments the automotive power electronics market and forecasts its size, by volume and value, on the basis of region (Asia-Pacific, Europe, North America, and RoW), By Application (Powertrain and Chassis, Body Electronics, Safety and Security systems, Infotainment and Telematics), By electric vehicle type (BEV,HEV and PHEV), by Vehicle Type (Passenger Cars and Commercial Vehicles).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the global automotive power electronics market. Apart from analyzing the quantitative aspects of these markets, the report also covers qualitative aspects, like Porter's five force analysis for the global automotive power electronics market.
Reasons to Buy the Report:
The report provides insights about the following points:
• Market Penetration: Comprehensive information about the automotive power electronics market offered by the top 13 players in the market
• Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, and new product launches in the power electronics market
• Market Development: Comprehensive information about power electronics. The report analyzes the market for various automotive power electronics market across regions
• Market Diversification: Exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive power electronics market
Read the full report: http://www.reportlinker.com/p05059899/Automotive-Power-Electronics-Market-by-Application-Vehicle-EV-Component-and-Region-Global-Forecast-to.html
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