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Automotive Power Semiconductors Market Report 2030

The global market for automotive power semiconductors is expected to grow 5.5% during the forecast period of 2022 to 2030. Power semiconductors operate as rectifiers or switches in power electronics modules. Rectifiers convert alternating current to direct current by passing a high-voltage pulse across a one-way circuit. Switches are used in the powertrain, braking systems of passenger and commercial cars, and inverters and battery charging systems of electric vehicles. Power semiconductors are very durable in automotive electronics. Chargers and motors require high voltage capacitance. Increasing car safety systems and technology standards are pushing the automotive power semiconductor market. High price of power semiconductors due to the increasing use of power electronics in EVs is the main factor restricting the automotive power semiconductor industry.

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Strict regulations, rising transportation costs due to supply chain distortion, and reduced output due to Covid 19 slowed the market growth of automotive power semiconductor components. Rising raw material costs are driving up transportation prices. Increasing levies on electronic and electrical components offer a challenge to market dynamics after the outbreak.

The U.S. government approved an investment of $4 billion in electric vehicle infrastructure and $170 billion in highways, bridges, and charging stations. In 2021, the U.S. shipped 7.2% of the world’s electric automobiles. Increasing demand for power modules in electric vehicles should boost the automotive power semiconductor market. Improved vehicle emissions and the need for fuel-efficient systems are expected to create opportunities. Increasing use of power semiconductors in advanced vehicle driving systems and automotive infotainment is expected to boost market demand.

Estimates reveal that 2020 hybrid electric vehicle sales reached $6.5 billion approximately. Electric vehicle (EV) manufacturers are integrating additional power semiconductors due to increased demand for hybrids. This improves customers’ driving experience. Power semiconductors are used in battery charging and powertrain systems, engines, control units, and inverter mechanisms. Due to rising demand for hybrid electric vehicles and manufacturers’ increasing use of power semiconductors, the hybrid electric vehicle market is expected to register a CAGR of 8% during the forecast period of 2022 to 2030.

Plug-in hybrid electric vehicles, battery-powered electric vehicles, and hybrids have increased the market’s requirement for powertrains. Powertrains include crankshafts, clutches, gears, drive shafts, torque converters, and more. The Powertrains segment maintained its market dominance in 2021, and is expected to record a CAGR of 13% during the forecast period.

SiC dominated the material market in 2021. SiC has lower power losses than GaN, GaP, CdS, and PbS. SiC’s power output is four times that of other materials, according to a study. SiC’s current resistance capacity is higher in power semiconductor applications. The necessity for longer range electric vehicles is propelling the silicon carbide sector.

Asia Pacific held 53% of the automotive power semiconductor market revenues in 2021. This is mostly owing to China and Japan’s expanding manufacture of electric automobiles. Growing populations have also boosted demand for cars. Increasing government aid and high local production rates in each country have contributed to the market’s growth. China’s market is the most dominating in terms of volume share, which was 54% in 2021. Due to growing industry investments in the Indian market, it represented 36% of APAC countries in 2021. Europe is the market’s fastest-growing region. Important Automotive Power Semiconductor firms in this region contribute to market growth. Germany accounts approximately 55% of EU revenues in 2021. Well-developed infrastructure for automotive component production and rising disposable income are driving this region. North America has the largest market share due to the number of important companies and government aid offered to electric car manufacturers to strengthen the region’s ability for sustainable growth.

Top-tier companies are focusing on technical innovation as their primary strategy. Key market Players are therefore focusing on technical differentiation and price efficiency to enhance their market presence. Top players in this market include Infineon Technologies, ST Microelectronics, Texas Instruments, NXP Semiconductors and others.

Key Market Trends

  • The global market for automotive power semiconductors is expected to grow 5.5% during the forecast period of 2022 to 2030.
  • Hybrid electric vehicle market held the largest revenues in 2021 and is expected to register a CAGR of 8% during the forecast period of 2022 to 2030.
  • The Powertrains segment maintained its market dominance in 2021, and is expected to record a CAGR of 13% during the forecast period.
  • SiC dominated the material market in 2021.
  • Asia Pacific held 53% of the automotive power semiconductor market revenues in 2021.
  • China’s market is the most dominating in terms of volume share, which was 54% in 2021.
  • Due to growing industry investments in the Indian market, it represented 36% of APAC countries in 2021.
  • Europe is the market’s fastest-growing region.
  • Germany accounts approximately 55% of EU revenues in 2021.
  • Top-tier companies are focusing on technical innovation as their primary strategy.
  • Top players in this market include Infineon Technologies, ST Microelectronics, Texas Instruments, NXP Semiconductors and others.

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