Published on : Dec 22, 2017
Albany, New York, December 22, 2017: Increasing adoption of power electronics in electric vehicles and aggrandized need for power management devices have led to the higher adoption of power electronics in energy & power, automotive, consumer electronics, and other industries. Automotive industry among these, has higher adoption rate. Integration of advanced driver assistance, safety and convenience systems in almost all automotive vehicles will be the major factor boosting the demand for automotive power electronics. A new study based on the global demand and market scenario of automotive power electronics market has been broadcasted to the wide repository of Market Research Hub (MRH), which is titled as “Automotive Power Electronics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025”. This 211-page study offers a wide-ranging precise analysis and insights that are supported by useful data and vital statistics. In the report, strategic exploration and an in-depth study and information on the development of the global automotive power electronics market for the assessment period from 2017 to 2025 is provided to the readers.
Power electronics is a solid-state circuitry device that converts and controls electric power from the source to the load in an efficient and convenient manner. Presently, there is a growing demand for technologically advanced power solutions for vehicles, which as a result propelling its market growth. According to the study key findings, the global automotive power electronics market will clock a striking 19.0% CAGR between 2017 and 2025, for the market to reach a valuation of US$22,658.4 mn by the end of 2025. Owing to the increasing installations of advanced driver assistance systems, rising preference of vehicle electrifications among power electronics equipment makers and Tier I suppliers, and stringent automotive safety and security regulations introduced by the government in order to reduce environmental pollution are the major driving factors fueling the growth of the market.
The report further categorizes the global market on the basis of major key segments such as by vehicle type, electric vehicle and geography.
- Geography-wise, the global automotive power electronics market is bifurcated into North America, Asia Pacific, Europe, the Middle East and Africa, and South America. Of these, Asia Pacific is anticipated to display the leading growth rate of 20.3% between 2017 and 2025. Early adoption of technologically advanced cars is a prime factor for this regional growth.
- On the basis of electric vehicles, the study covers battery electric vehicles, hybrid electric vehicles and plug-in hybrid electric vehicles. Among these, the growth of HEV segment is high, because of its role in decarbonizing the transport sector and reducing dependence on fossil fuels.
- In terms of vehicle type, the passenger car segment is not only expected to contribute the leading revenue over the forecast period of 2017 to 2025
The final section deals with the competitive landscape which includes the prominent market leaders. The key players profiled in the global automotive power electronics market include Infineon Technologies AG, Renesas Electyronics Cor., Texas Instruments, Inc., Robert Bosch GmbH, ON Semiconductor Corp., Maxim Integrated Products Inc., NXP Semiconductors N.V., Qualcomm, Ins., Mitsubishi Heavy Industries Ltd. and Vishay Intertechnology Inc.
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