Automotive Power Semiconductor Market: Global Industry Analysis And Forecast (2023-2029)

Global Automotive Power Semiconductor Market size was valued at USD 55.84 Bn. in 2022 and the total Automotive Power Semiconductor revenue is expected to grow at 6.2% from 2023 to 2029, reaching nearly USD 85.08 Bn.
Automotive Power Semiconductor Market Overview:
Semiconductors are materials that have the properties of both a conductor and an insulator. Semiconductors are also used to control the flow of electricity and make it unidirectional. Power semiconductors can withstand high voltages and big currents and have a different structure than semiconductors, allowing them to withstand larger currents and voltages without damage. Automotive power semiconductors are power semiconductors that are used in automotive electronics. Silicon and germanium are the fundamental components of semiconductors used in automobiles, and they are necessary for automotive electronics to function properly.To know about the Research Methodology :- Request Free Sample Report

Rectifiers convert alternating current to direct current by allowing a high voltage pulse to pass through one-way accordance. Switches are utilized in practically all automotive applications, including propulsion, brakes, inverters, and battery charging applications in electric cars. Power semiconductors have distinct nodal and internal circuit architectures from standard semiconductors. As a result, power semiconductors are utilized in high voltage and high current applications. Power semiconductors have an unrivaled capacity to withstand severe damage in automobile electronics, as various instruments, such as power chargers and motor mechanisms, require high voltage capacitance.

Report Scope:

The report investigates the Automotive Power Semiconductor market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Automotive Power Semiconductor market's contemporary competitive scenario. The data provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report provides a detailed overview of the industry including both qualitative and quantitative information.

The reports cover major advancements in the organic and inorganic growth strategies of the Automotive Power Semiconductor Market. Various businesses are concentrating on organic growth tactics such as new launches, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth tactics observed in the industry. These actions have prepared the road for market participants' businesses and client bases to grow.

The report also includes data on the recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and major & localized market players, changes in market regulations, and strategic market growth analysis. Bottom-Up Approach is used to analyze the secondary and primary data. Secondary data is been collected from the nationalized and global data sources, major market players’ annual and financial reports, press releases, etc. The primary data has been collected through interviews, surveys, experienced and skilled professional opinions, etc.
Market Dynamics:
Increasing demand for electric vehicles across the globe.

The beginning motor and lighting loads were the first electrical demands in automobiles. However, since the emergence of electrical systems in automobiles during the last few decades, the need for electric power in automobiles has increased. Indeed, the automobile industry is pursuing the electrification of ancillaries and engine enhancements to cut fuel consumption and emissions while also improving performance and dependability.

As a result, there is a growing need for electrically powered systems to replace traditional mechanical, hydraulic, and pneumatic loads. Additionally, the requirement for improved comfort, convenience, entertainment, safety, communications, maintainability, supportability, survivability, and operating costs demands the development of additional electric vehicle technologies. Due to the semiconductor’s wide range of characteristics, the utilization is increased in the electric vehicle and these are the major driver for the market.

High Technical Properties of Power Semiconductors.

In its most basic form, a power semiconductor is a device that functions as a rectifier or a switch in a power electronics module. The nodal and internal circuit topologies of normal semiconductors and power semiconductors differ significantly. As a result, power semiconductors are used in applications that demand high voltages and power. In automotive electronics, power semiconductors have an exceptional ability to endure considerable damage.

This is required because high voltage capacitance is required by some devices, such as power chargers and motor mechanisms. The rising use of automobile safety systems, as well as specific technical criteria, are thought to have been driving the growth of the automotive power semiconductor industry. During the forecast period, the market is expected to increase largely due to the fast-increasing semiconductor and electronics sectors, as well as global automotive applications.

Integration of power semiconductors in the vehicle may lead to high costs for the vehicle.

Power semiconductors are one of the important technologies that will be utilized in the automotive to improve system efficiency and performance in automotive and energy-saving applications. Silicon has been the primary material for semiconductor switches for decades. Advanced manufacturing technologies and advanced electronic device designs have nearly optimized the performance of silicon electronic devices to their theoretical limit. As a result, to improve system performance, novel materials with physical and chemical characteristics other than silicon must be investigated. These materials are relatively costly and this increases the price of the vehicle. Due to this, the sale might affect and this is the key restrain for the market.
Automotive Power Semiconductor Market Segment Analysis:
By Vehicle Type, the Passenger Cars segment is expected to grow rapidly during the forecast period. The passenger vehicle segment makes a key contribution to the automotive power semiconductor market. The rising need for safety systems and fuel-efficient technologies linked with vehicle power trains in emerging economies is driving the passenger car's dominance. OEMs are also highly engaged in releasing new car variations and models that would meet the needs of customers. Increased population in emerging economies also encourages OEMs to include certain features in new passenger car models. This is done to distinguish one's items from others on the market. OEMs, Tier I and Tier II, are also attempting to incorporate new technologies or features into mass-produced automobiles in the passenger vehicle category. These are some of the factors that contribute to the passenger car segment's dominance in the automotive power semiconductor market.

By Electric Type, the Hybrid Electric Vehicle segment held the largest revenue share of xx% in 2022 and is expected to maintain its dominance at the end of the forecast period. With the increased demand for hybrid cars, manufacturers are incorporating a larger number of power semiconductors into electric vehicles (EVs).

Power semiconductors are a crucial element of many significant parts of automotive equipment, including battery charging and powertrain systems, engines, control units, and inverter mechanisms. The market's increasing need for hybrid electric automobiles and, as a result, the growing number of power semiconductors applications produced by manufacturers are the major driver for the segment growth.

By Material, the Silicon Carbide (SiC) segment is expected to grow rapidly and dominate the market during the forecast period. SiC provides lower power losses than a wide range of other semiconductor materials, including GaN, GaP, CdS, and PbS. SiC's band gap is three times that of silicon (3.26 eV). Silicon loses its semiconductor properties at high temperatures, but SiC retains these properties independent of temperature.

Additionally, its performance at high temperature, high frequency, and high voltage outperforms silicon. Devices 10 times smaller than those of silicon at the same voltage may be made using the breakdown voltage characteristics (miniaturization). In power semiconductor applications, SiC's current resistance capacity is significantly greater. These factors are expected for driving the segment growth during the forecast period.By Application, the Power Trains segment held the largest market share of about xx% in 2022 and is expected to grow rapidly during the forecast period. The growth of plug-in hybrid electric cars, battery-powered electric vehicles, and hybrid vehicles has increased the market's need for power trains. These are the major driving factors for market growth.

Power is generated via clutches, drive shafts, gears, crankshafts, torque converters, as well as other components, and power trains are made up of all of these components. Automobile alternators with high temperature withstanding capability and high power, as well as increased efficiency and high power density, are provided by powertrain electronics in the automotive power generating system. Converters, electric motors, inverters, and battery management systems are among its major components.
Regional Insights:
The Asia-Pacific market held the largest market share of about half of the Automotive Power Semiconductor Market in 2022 and is expected to maintain its dominance at the end of the forecast period. Increasing EV manufacturing in key markets such as China and Japan is a major driver of the market growth. Moreover, the growing population in the regions has increased the demand for automobiles in the market. The market's growth may be associated with a variety of factors, including increased levels of government support as well as high levels of domestic production rates in each country.

China is the largest manufacturer of automotive components, its market has the highest volume share of about 54% in 2022 and is expected to grow significantly during the forecast period. Because of its rapid growth in safety features, infotainment, and cruise control, among other factors, China is a major contributor to the Asia-Pacific market. Government initiatives to increase semiconductor production, as well as the increasing usage of car computer chips, would be major drivers for the china market. The Indian market held around 35% of the market share in 2022 because the major player's investments in this industry have increased.

The European market is expected to grow rapidly during the forecast period. This is because the market held a revenue share of around 35% of the total market in 2022. The presence of major manufacturers of Automotive Power Semiconductors in this country is one of the major factors driving the market growth. The growing popularity of electric vehicles in Europe is anticipated to significantly drive the demand for electric vehicle semiconductors throughout the forecast period. In Europe, the growing usage of semiconductor devices in automobile entertainment and safety systems is going to have a significant impact on automotive semiconductor demand. Germany is expected to be a significant market due to the presence of leading vehicle manufacturing companies in the country.

North American consumption of automotive semiconductors is expected to dominate the global automotive semiconductor market in terms of share. Government initiatives to improve the automotive manufacturing industry, as well as the increasing usage of technologies such as IoT in a variety of cars, are anticipated to be major factors driving the market potential in this country. This region's rapid adoption of innovative technology in the automotive sector would raise sales of vehicle computer chips at the end of the forecast period. Canada and the United States are anticipated to be the region's most important markets.

The objective of the report is to present a comprehensive analysis of the Automotive Power Semiconductor market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Automotive Power Semiconductor market dynamics, and structure by analyzing the market segments and projecting the Automotive Power Semiconductor market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive Power Semiconductor market make the report investor’s guide.
Automotive Power Semiconductor Market Scope: Inquire before buying



Automotive Power Semiconductor Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 55.84 Bn.


Forecast Period 2023 to 2029 CAGR:
6.2%
Market Size in 2029:
US $ 85.08 Bn.


 Segments Covered:
by Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles


by Electric Type
Hybrid EV
Battery Operated EV
Plug-in Hybrid Electric Vehicle (PHEV)


by Component
Voltage Suppressor
Charging Systems
Rectifiers
Switches
IGBT
Power Bipolar
Power MOSFET


by Material
Silicon Carbide
Gallium Nitride
Cadmium Sulphate
Gallium Phosphate
Lead Nitride


by Application
Power Train
Drive Unit
Braking System
Clutch Operation
Battery Components
Inverter Mechanism in EVs



Automotive Power Semiconductor Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina and Rest of South America)
Automotive Power Semiconductor Market Key Players are:
1. NXP Semiconductors
2. Infineon Technologies
3. Texas Instruments
4. ST Microelectronics
5. Freescale Semiconductors
6. Littlefuse Europe GmbH
7. Schunk Sonosystems GmbH
8. Fuji Electric
9. ON Semiconductors
10.TOSHIBA Corporation
11.Rohm Semiconductors
12.Semikron
13.Microchip Technologies Inc.
14.Micrel
15.Dynex Semiconductor
16.Maxim Integrated
17.Mitsubishi Electric Corp.
18.Dallas Semiconductor
19.National Semiconductor

FAQs:

1. Which is the potential market for the Automotive Power Semiconductor in terms of the region?
Ans. The Asia-Pacific is the potential market for Automotive Power semiconductors in terms of region.

2. What are the opportunities for new market entrants?
Ans. Improved vehicle emission levels and the need for fuel-efficient systems are the factors expected to create opportunities in the market.

3. What is expected to drive the growth of the Automotive Power Semiconductor market in the forecast period?
Ans. A major driver in the Automotive Power Semiconductor market is the Increasing demand for electric vehicles across the globe.

4. What is the projected market size & growth rate of the Automotive Power Semiconductor Market?
Ans. Automotive Power Semiconductor Market size was valued at USD 55.84 Bn. in 2022 and the total Automotive Power Semiconductor revenue is expected to grow at 6.2% from 2023 to 2029, reaching nearly USD 85.08 Bn.

5. What segments are covered in the Automotive Power Semiconductor Market report?
Ans. The segments covered are Vehicle Type, Electric Type, Component, Material, Application, and Region.