The advancements in technology in the form of safety and driver assistance systems, infotainment, powertrain advancements and many others, due to the never ending R&D in the automotive and power electronics sector, makes it as one of the prominent segment in the current automotive market scenario. The electrical components in automotive systems have gradually evolved from the basic lighting and battery charging to infotainment, sensors and safety. Integration of advanced driver assistance safety and convenience system in almost all automotive vehicles would be the major factor boosting the demand for automotive power electronics. In addition, the increase in sale of electric and hybrid vehicles would considerably help the market to grow over the forecast period. Hybrid electric vehicles have already gathered a huge momentum globally, especially from the European and North American countries. This popularity for hybrid technology would help the growth of power electronics market to a reasonable extent. The dominance of electrics and electronics in these vehicles, would constitute the bulk of the market share in automotive power electronics market.
Global Automotive Power Electronics Market is expected to grow at a CAGR of 14% during the forecast period and would be valued at $ 7.68 billion by the end of 2020 The advent of high frequency, high power switching devices has brought about a comprehensive application of power electronic converters for energy conversion and motion control. The technological advancements along with the reduction in cost and size of the components and systems would evolve to play a pivotal role in the growth of the market. Switched-mode power supplies (SMPS) is one such advancement in power electronics which helps to efficiently handle high loads that of a powertrain. The market is segmented by device type, by application and by geography (North America, South America, Europe, Asia-Pacific and Rest of the world). Some of the key players in this market are Renesas Electronics Corporation Kongsberg automotive, Infineon Technologies and Vishay Siliconix.
Incorporating electrical components and replacing the conventional mechanical and hydraulic loads in the power train would help to improve efficiency in the vehicle by about 20%. Usage of power electronics in power train systems for better engine propulsion, like that in controlling the engine parts, or for transmission and controls, would be a major trend in the market during the forecast period. The adaption of electronics in power train systems would be more applicable on electric vehicle concepts – hybrid (HEV) and pure (EV) with the increased efforts by the regional governments and environmental agencies to lower emission levels. Among the different types of automotive power electronics application, body electronics accounts for the majority in the, followed by safety and convenience systems. Powertrain, and emission control are some of the other major power electronics application in an automotive. The demand for lightweight, multi portable devices would help to drive the growth of advanced power electronics significantly. Growing demand for passenger and light commercial vehicles from the developing economies such as China, India, and the Latin American countries (Brazil and Mexico) would help to drive the market growth in the forecast period. Global economic uncertainty and a declining growth rate in the automotive production would pose a hindrance in the automotive electronics market.
What The Report Offers
1) Market Definition along with identification of key drivers and restraints for the Automotive Power Electronics market.
2) Market analysis with specific assessments on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the Automotive Power Electronics Industry