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For depth analysis, Global Automotive Power Electronics Market is segmented by Component (MCU, Power IC, Sensor), Application (Body Electronics, Chassis & Powertrain, Infotainment & Telematics, and Safety & Security System), Electric Vehicle Type (Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicles (PHEV), Vehicle Type (Passenger car and Commercial Vehicle) and region.Global Automotive Power Electronics Market Highlights:
The factors that are responsible for the growth of automotive electronics market are increased demand of the advance technology in vehicles, growing environment concern leading to increased use of electric vehicles, and increase in safety of the electronics control panel in vehicles. The advancement in technology such as advanced driver assistance systems (ADAS), electronic stability control (ESC), and electronic control unit (ECU) have been emerging in the electric vehicles, which require power electronics for the protection of the system. This advancement in the technology have resulted in the increase use of power electronics in the vehicles. The increase in use of power electronics in electric vehicles have resulted in the growth of the market during the forecast period. The growing environmental concern due to the pollution have resulted in growing demand for electric vehicles.
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Automotive Power Electronics Market Key Companies Studied in this report 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.).
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 Segments Analysis:
The automotive power electronics market has been segmented based on component, application, vehicle type, and region.
On the basis of 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.
On the basis of vehicle type, passenger car segment is expected to dominate the market during the forecast period due to rapidly increasing sales of electric cars.
On the basis of 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. As a result of increasing prosperity in the emerging economies, more and more people are able to 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.
Research Methodology:
Market Research Future (MRFR) employs innovative statistical algorithms for gathering impactful market insights that can drive business decisions. An in-depth analysis of constantly evolving market trends combined with a study of historical data is leveraged for providing accurate competitive intelligence. The statistical observations made in our reports are backed by data procured through extensive primary and secondary research which include interviews with stakeholders, SEC filings, whitepaper references, annual reports of key players, etc. Top-down and bottom-up approaches are employed for authenticating the credibility of the market foresight delivered. A multi-layer verification process reaffirms the market size and revenue estimation. MRFR strives to provide reliable and transparent information that helps clients in developing growth strategies.
The report gives the clear picture of current Automotive Power Electronics Market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Table Of Contents:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Stud
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4.1 Introduction
4.2 Forward Collision Warning
4.3 Dynamic Brake Support
4.4 Crash Imminent Braking
Continued…
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