Automotive Power Electronics Market Report 2018 – Global Forecast to 2023, is latest Global Automotive Power Electronics Market Analysis Report, published by “Market Research Future”. Global Automotive Power Electronics industry to register 5.12% compound annual growth rate during the forecast period 2018 to 2023.
Key Company in Automotive Power Electronics Market Analyzed Are:
Infineon Technologies AG (Germany), Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Renessa Electronics Corp. (Japan), Mitsubishi Heavy Industries Ltd. (Japan), Maxim Products Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), Qualcomm Ins. (U.S.), Robert Bosch GmbH (Germany), and Vishay Intertechnology Inc. (U.S.).
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Market Highlights:
The global automotive power electronics market has experienced potential growth over the past few years and it has been analyzed that the market will grow at the same pace during the forecast period. Automotive power electronics make use of the solid-state circuit device that coverts the current from the source to the load. They are responsible to control power fluctuation in components such as monitoring diodes, and transistors.
The major application such as Body Electronics, Chassis & Powertrain, Infotainment & Telematics, and Safety & Security System requires energy conservation for the safety of the system. Power electronics, in automotive, consist of various components such as MCU, power IC, and sensor. Power electronics are mostly used in electric vehicles but are also installed in passenger car and commercial vehicles to protect the systems from power failure. Over the past decade, it has been experienced that the prices of crude oil per barrel is increasing very rapidly and its availability is decreasing day by day. Due to these factors, the preference of the population is shifting towards electric vehicles.
In the last three to four years, the demand for electric vehicles in the United States has been rapidly increasing, with year-on-year sales growth of 70%. Along with the United States, Norway has also put a step ahead and has shifted more focus towards electric vehicles. As per the market statistics, every third new car is electric, and the country has the highest proportion of 6.4% worldwide, followed by Sweden i.e. 3.4%.
The growth of electric vehicles is increasing across the globe and since 2014, the sales doubled. As of 2016, near about 777,500 electric vehicles have been sold worldwide. The increase of electric vehicles will be due to increase fuel price, which is expected to result in the growing demand of power electronics. This will result in the growth of the market during the forecast period.
Market Segmentation:
The automotive power electronics market has been segmented based on component, application, vehicle type, and region. Based on component, the market has been segmented as MCU, Power IC, and Sensor. The sensor segment is expected to witness the highest growth during the forecast period because it is the key component in the electric vehicles. Sensors are mainly used in ADAS technology, electronic stability control (ESC), and electronic control unit (ECU), which are the key technologies used in electric vehicles. Based on applications, the market has been segmented as body electronics, chassis & powertrain, infotainment & telematics, and safety & security system. The body electronics segment is expected to dominate the market during the forecast period due to growing government regulations and initiative for the adoption of smart transportation solution with advance safety features. Based on vehicle type, passenger car segment is expected to dominate the market during the forecast period due to rapidly increasing sales of electric cars.
Regional Analysis:
Based on region, the market has been segmented as North America, Asia Pacific, Europe, and Rest of the World. North America region is expected to dominate the market during the forecast period due to increase in use of advance technology in electric vehicle in this region. Asia Pacific region is expected to witness the highest growth during forecast period due to increase in sales of electric vehicle in this region. Because of increasing prosperity in the emerging economies, more and more people can own cars, particularly in emerging Asian economies such as China and India. This will result in increased use of power electronics in this region, which will drive the market during the forecast period.
Major Table of Content:
TABLE 1 GLOBAL POWER ELECTRONICS MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA POWER ELECTRONICS MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE POWER ELECTRONICS MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC POWER ELECTRONICS MARKET: BY COUNTRY, 2017-2023
TABLE 5 MIDDLE EAST & AFRICA POWER ELECTRONICS MARKET: BY COUNTRY, 2017-2023
TABLE 6 LATIN AMERICA POWER ELECTRONICS MARKET: BY COUNTRY, 2017-2023
Continued…
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