Market Overview
The global automotive power electronics market was analyzed by Market Research Future (MRFR) and it was projected that a healthy CAGR of 5.12% will be attained by the market over the forecast period of 2018 to 2023. The valuation of the automotive power electronics market was further stated to surpass its previous figure and reach USD 5.5 billion by 2023.
Market Segmentation
The global automotive power electronics market has been segmented in terms of vehicle type, application, electric vehicle type, and component.
By application, the market segments infotainment & telematics, body electronics, chassis & powertrain, and safety & security system. The body electronics segment holds the dominant positioning in the global automotive power electronics market. This is due to the increasing regulations and initiatives imposed by the government in encouraging the adoption of smart transportation solution with various advanced safety features.
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By component, the market includes power integrated circuit (IC), microcontroller unit (MCU), and sensor. The sensor segment accounts for the maximum share in the global automotive power electronics market and is expected to remain at the top of the market standings by the end of the forecast period. This is because sensors are an integral component in electric vehicles.
By vehicle type, the market divides into commercial vehicle and passenger cars. The market is spearheaded by the passenger car segment and is expected to remain the same in the near future.
By electric vehicle type, the market breaks down into hybrid electric vehicles (HEV), battery electric vehicles (BEV), and plug-in hybrid electric vehicles (PHEV).
Regional Analysis
The global automotive power electronics market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The North American region holds the maximum shares in the global automotive power electronics market. The regional market is further anticipated to continue leading the global landscape over the forecast period. The presence of US is one of the biggest driving factors behind the growth of the North American market. The country spends the highest across the globe in battery-operated electric vehicle. Add to this, the US hosts some of the most established players in the automotive industry. Aside from the US, Canada and Mexico are some of the other important country-specific market in North America.
The Asia Pacific region is slated to enjoy a major share of the global automotive power electronics market in the forthcoming years of the forecast period. The market is experiencing a consistent growth due to the increasing demand herein for power electronics and growing adoption of advanced technologies in EVs. Countries like India, China, and Japan are the major contributors to the Asia Pacific automatic power electronics market.
The European region is spearheaded by countries like Italy, Spain, Germany, the U.K., and France. The region has over the years achieved major technological advancements in the automotive industry. Lastly, the Rest of the World segment includes countries like the Middle East & Africa and Latin America. The Middle East & Africa market is relatively smaller due to the presence of various economically poor countries, lack of proper education, lack of awareness, and lack of technological advancement or development.
Competitive Landscape
The global automotive power electronics market comprises a host of key players. This includes names like NXP Semiconductors N.V. (Netherlands), Infineon Technologies AG (Germany), Maxim Products Inc. (U.S.), Renessa Electronics Corp. (Japan), Texas Instruments Inc. (U.S.), Mitsubishi Heavy Industries Ltd. (Japan), ON Semiconductor Corp. (U.S.), Robert Bosch GmbH (Germany), Qualcomm Ins. (U.S.), and Vishay Intertechnology Inc. (U.S.).
Industry Buzz
June 2019, MAHLE is an unmatched provider when it comes to components for power electronics in EVs, the company announced in a press released. With its power electronics, charging infrastructure, and traction motors solutions, the company offers customers with a broad range of products for e-mobility.
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Key Questions Addressed by the Report
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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