Automotive Power Electronics Market worth 5.49 Billion USD by 2022
The report "Automotive Power Electronics Market by Application (Body Electronics, Chassis & Powertrain, Infotainment & Telematics, Safety & Security), Vehicle (PC, CV), EV (PHEV, BEV, HEV), Component (MCU, Power IC, Sensor), and Region - Global Forecast to 2022"
Browse 78 Market Data Tables and 56 Figures spread through 180 Pages and in-depth TOC on "Automotive Power Electronics Market
Early buyers will receive 10% customization on reports.
The major factors behind the growth of the automotive power electronics market are the increasing installations of advanced driver assistance systems, stringent automotive safety and security norms introduced by the government, and rising preference of vehicle electrifications among OEMs and Tier I suppliers.
Body Electronics Application: To acquire the largest market share in 2017
With the modernization of vehicles, the number of power electronic components employed in a vehicle has increased. The power electronics-driven operations include electric power steering, power windows, electronic brake systems, electric air conditioning, and others which constitute the major components of the body electronics application.
Passenger Car Segment: The largest share of the automotive power electronics market in 2017
In terms of growth rate, the safety and security system segment of the automotive power electronics market is expected to show the highest CAGR during the forecast period. This can be attributed to the increasing installations of safety features and ongoing legal mandates about this application.
The growing complexity of vehicle electronics, coupled with the increasingly stringent emission norms, has been propelling the growth of the passenger car segment of the global automotive power electronics market during the forecast period. The passenger car segment is estimated to acquire the maximum market share for power electronics, owing to the increasing installation of safety features. The government approved safety mandates and regulations across the developed nations have incentivized the OEMs to manufacture passenger cars featuring advanced technologies. These factors have boosted the power electronics market for passenger cars, all over the world.
Asia-Pacific: Rapid vehicle electrification in the Chinese market is propelling the growth of the automotive power electronics market in the Asia-Pacific region
The demand for technologically advanced cars has also witnessed a boost recently in the Asia-Pacific region with the convergence of the ICT sector, the automotive sector, and the transportation sector. This has resulted in the emergence of the advanced vehicle ecosystem. Upcoming safety regulations would increase the installation of automotive safety technologies in passenger cars. The emergence of driving assistance technologies has incentivized the OEMs to opt for efficient power electronic components to satisfy the ongoing market requirement. Thus, the increasing use of technologically advanced cars is expected to push the need for power electronics in cars in the Asia-Pacific market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
About MarketsandMarkets:MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.