Automotive Power Electronics Market Size (2024 - 2029)

The automotive power electronics market is anticipated to experience growth over the forecast period, driven by factors such as compliance with new safety and vehicle emission standards, and the increasing demand for vehicle connectivity, infotainment, and powertrain electrification. The market's expansion is further supported by the rising need for electric vehicles. Despite challenges posed by the COVID-19 pandemic, supply chain disruptions, and geopolitical tensions, the market is expected to regain momentum as economic activities normalize. The Asia-Pacific region is projected to lead in market size, with Europe and North America also showing positive growth trends due to the growing demand for electric vehicles.

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Market Size of Automotive Power Electronics Industry

Automotive Power Electronics Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Automotive Power Electronics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Automotive Power Electronics Market Analysis

The Automotive Power Electronics Market was valued at USD 3.12 billion in 2021 and is expected to reach USD 5.20 billion by 2027, registering a CAGR above 4% during the forecast period (2022 - 2027).

The COVID-19 pandemic has severely impacted the automotive industry across the world. The disruptions in supply chain activities, the interruption in large-scale manufacturing, restrictions on travel, and the decreased sales of light vehicles in 2020, are responsible for the declining growth of the market.

Besides, the U.S.-China trade war and halt in exporting raw materials from China have impacted market revenue. However, as economic activities resume in the latter half of 2020, the market is expected to regain momentum during the forecast period.

Compliance with upcoming safety and vehicle emission standards and increasing demand for vehicle connectivity, infotainment, and powertrain electrification will drive the market for automotive power electronics during the forecast period. In addition, the rising need for electric vehicles is likely to drive the market.

Asia-Pacific region is expected to dominate the market, followed by Europe and North America during the forecast period. Europe and North America are expected to witness positive growth during the forecast period, owing to the rising demand for electric vehicles.

Automotive Power Electronics Industry Segmentation

Automotive power electronics is a modern technology that efficiently converts, conditions, and controls the electric power within an automobile.

The automotive power electronics market has been segmented by device, application, drive, vehicle, and geography.

By Device type, the market is segmented into Power IC, Module, and Discrete. The market is segmented by Application Type: Body Electronics, Safety, Security Electronics, and Powertrain. By Drive Type, the market is segmented into IC Engine vehicles and Electric Vehicles. The market is segmented by Vehicle Type: Passenger Cars and Commercial Vehicles. By Geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. For each segment, the market sizing and forecast have been done based on value (USD billion).

The report also covers the market size and forecast for the automotive power electronics market across the regions mentioned. For each segment, the market sizing and forecast have been done based on value (USD billion).

Device Type
Power IC
Module and Discrete
Application Type
Body Electronics
Safety and Security Electronics
Powertrain
Drive Type
IC Engine Vehicle
Electric Vehicle
Vehicle Type
Passenger Cars
Commercial Vehicles
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa
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Automotive Power Electronics Market Size Summary

The automotive power electronics market is poised for significant growth, driven by the increasing demand for vehicle connectivity, infotainment, and powertrain electrification. The market, which faced challenges due to the COVID-19 pandemic and geopolitical tensions like the U.S.-China trade war, is expected to regain momentum as economic activities resume. Compliance with safety and vehicle emission standards, along with the rising need for electric vehicles, is anticipated to further propel market expansion. The Asia-Pacific region is expected to dominate the market, with China, South Korea, and Japan leading due to high vehicle production and advanced electronics adoption. The passenger vehicle segment plays a crucial role in the market's growth, fueled by the demand for safety systems and fuel-efficient technologies.

The automotive power electronics market is moderately consolidated, with major players such as NXP Semiconductors, Infineon Technologies AG, Texas Instruments Incorporated, Renesas Electronics Corporation, and STMicroelectronics leading the industry. These companies are actively expanding their product portfolios and investing in research and development to innovate and meet the evolving demands of the automotive sector. Collaborations and technological advancements, such as the development of gallium nitride technology and vehicle network processors, highlight the industry's focus on enhancing efficiency and power density. The market's growth is further supported by government initiatives in the Asia-Pacific region, encouraging the adoption of advanced electronic components in vehicles.

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Automotive Power Electronics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Device Type

      1. 2.1.1 Power IC

      2. 2.1.2 Module and Discrete

    2. 2.2 Application Type

      1. 2.2.1 Body Electronics

      2. 2.2.2 Safety and Security Electronics

      3. 2.2.3 Powertrain

    3. 2.3 Drive Type

      1. 2.3.1 IC Engine Vehicle

      2. 2.3.2 Electric Vehicle

    4. 2.4 Vehicle Type

      1. 2.4.1 Passenger Cars

      2. 2.4.2 Commercial Vehicles

    5. 2.5 Geography

      1. 2.5.1 North America

        1. 2.5.1.1 United States

        2. 2.5.1.2 Canada

        3. 2.5.1.3 Rest of North America

      2. 2.5.2 Europe

        1. 2.5.2.1 Germany

        2. 2.5.2.2 United Kingdom

        3. 2.5.2.3 France

        4. 2.5.2.4 Italy

        5. 2.5.2.5 Rest of Europe

      3. 2.5.3 Asia-Pacific

        1. 2.5.3.1 India

        2. 2.5.3.2 China

        3. 2.5.3.3 Japan

        4. 2.5.3.4 South Korea

        5. 2.5.3.5 Rest of Asia-Pacific

      4. 2.5.4 Rest of the World

        1. 2.5.4.1 South America

        2. 2.5.4.2 Middle-East and Africa

Automotive Power Electronics Market Size FAQs

The Automotive Power Electronics Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

NXP Semiconductors, Infineon Technologies AG, Texas Instruments Incorporated, Renesas Electronics Corporation and STMicroelectronics are the major companies operating in the Automotive Power Electronics Market.

Automotive Power Electronics Market Report Snapshots

Automotive Power Electronics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)