Market Overview:
The global power electronics for electric vehicles market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electric vehicles across the globe. Additionally, government initiatives and regulations supporting the adoption of electric vehicles are also fueling the growth of this market. The power IC segment is expected to hold a major share in the global power electronics for electric vehicles market during the forecast period. This can be attributed to their high efficiency and low cost as compared to other types of power electronics devices used in electric vehicles.
Product Definition:
Power electronics is a field of electrical engineering that deals with the conversion of electrical power from one form to another, using semiconductor devices. The main application for power electronics in electric vehicles is in the control and conversion of energy between the battery, the motor, and the drive system. This allows for more efficient use of energy and improved performance.
Power IC:
Power IC is used in power electronics for electric vehicles. It helps to regulate the flow of electricity from battery to various parts of the vehicle and also regulates charging current. The growth factor for this market is increasing demand for Electric Vehicles (EVs) due to rising environmental concerns such as carbon emission, noise pollution, and high energy consumption. Government initiatives towards encouraging EV usage will further propel market growth over the forecast period.
Power Module:
Power module is a device that helps to regulate and control power flow in an electric vehicle. It also provides information related to the charging state of battery. The main function of power module is to protect battery from damage due to overcharging or undercharging conditions.
The global Power Electronics for Electric Vehicles (PEV) market size was valued at USD 4,500 million in 2016.
Application Insights:
Based on the application, the global power electronics for electric vehicles market has been segmented into HEV, EV, and PHEV. The HEV segment dominated the overall market in terms of revenue share in 2017. This is attributed to increasing demand from countries such as China and Japan. In addition, companies such as ABB have developed advanced products for this application that are expected to drive industry growth over the forecast period.
The EV segment is anticipated to witness significant growth over the forecast period owing to technological advancements coupled with increased government funding for research & development activities related to EVs in various regions including North America and Europe. Furthermore, favorable government regulations regarding emission control are also expected to boost product demand over the coming years (see image below).
Regional Analysis:
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. The region accounted for a share of more than 50% in 2016 and is expected to witness significant growth owing to increasing government subsidies on electric vehicles along with rising awareness about environment protection. China, Japan, and South Korea are some of the major countries that have high penetration of electric vehicles in this region.
Europe was estimated as the second-largest regional market in 2016 and is projected to grow at a CAGR close to 4% from 2017 to 2030 owing its large presence of manufacturers such as ABB Ltd., Siemens AG, Alstom SA, General Electric Co., among others.
Growth Factors:
- Increasing demand for electric vehicles from the automotive sector
- Government initiatives and subsidies for electric vehicles
- Rising awareness about the benefits of electric vehicles over traditional petrol or diesel-powered vehicles
- Technological advancements in power electronics that are making electric vehicles more efficient and affordable
- Growing demand for renewable energy sources, such as solar and wind power, which can be used to charge electric vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Power Electronics for Electric Vehicles Market Research Report
By Type
Power IC, Power Module, Power Discrete
By Application
HEV, EV, PHEV
By Companies
Infineon Technologies, Mitsubishi Electric, Fuji Electric, SEMIKRON, ON Semiconductor, Renesas Electronics, Vishay Intertechnology, Texas Instruments, Toshiba, Stmicroelectronics, NXP Semiconductors, Microchip Technology
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Power Electronics for Electric Vehicles Market Report Segments:
The global Power Electronics for Electric Vehicles market is segmented on the basis of:
Types
Power IC, Power Module, Power Discrete
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
HEV, EV, PHEV
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Infineon Technologies
- Mitsubishi Electric
- Fuji Electric
- SEMIKRON
- ON Semiconductor
- Renesas Electronics
- Vishay Intertechnology
- Texas Instruments
- Toshiba
- Stmicroelectronics
- NXP Semiconductors
- Microchip Technology
Highlights of The Power Electronics for Electric Vehicles Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Power IC
- Power Module
- Power Discrete
- By Application:
- HEV
- EV
- PHEV
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Power Electronics for Electric Vehicles Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Power electronics for electric vehicles (PEV) are systems that manage the power and charging of an electric vehicle. They include controllers, inverters, and batteries.
Some of the key players operating in the power electronics for electric vehicles market are Infineon Technologies, Mitsubishi Electric, Fuji Electric, SEMIKRON, ON Semiconductor, Renesas Electronics, Vishay Intertechnology, Texas Instruments, Toshiba, Stmicroelectronics, NXP Semiconductors, Microchip Technology.
The power electronics for electric vehicles market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Power Electronics for Electric Vehicles Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Power Electronics for Electric Vehicles Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Power Electronics for Electric Vehicles Market - Supply Chain
4.5. Global Power Electronics for Electric Vehicles Market Forecast
4.5.1. Power Electronics for Electric Vehicles Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Power Electronics for Electric Vehicles Market Size (000 Units) and Y-o-Y Growth
4.5.3. Power Electronics for Electric Vehicles Market Absolute $ Opportunity
5. Global Power Electronics for Electric Vehicles Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Power Electronics for Electric Vehicles Market Size and Volume Forecast by Type
5.3.1. Power IC
5.3.2. Power Module
5.3.3. Power Discrete
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Power Electronics for Electric Vehicles Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Power Electronics for Electric Vehicles Market Size and Volume Forecast by Application
6.3.1. HEV
6.3.2. EV
6.3.3. PHEV
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Power Electronics for Electric Vehicles Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Power Electronics for Electric Vehicles Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Power Electronics for Electric Vehicles Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Power Electronics for Electric Vehicles Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Power Electronics for Electric Vehicles Demand Share Forecast, 2019-2026
9. North America Power Electronics for Electric Vehicles Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Power Electronics for Electric Vehicles Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Power Electronics for Electric Vehicles Market Size and Volume Forecast by Application
9.4.1. HEV
9.4.2. EV
9.4.3. PHEV
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Power Electronics for Electric Vehicles Market Size and Volume Forecast by Type
9.7.1. Power IC
9.7.2. Power Module
9.7.3. Power Discrete
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Power Electronics for Electric Vehicles Demand Share Forecast, 2019-2026
10. Latin America Power Electronics for Electric Vehicles Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Power Electronics for Electric Vehicles Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Power Electronics for Electric Vehicles Market Size and Volume Forecast by Application
10.4.1. HEV
10.4.2. EV
10.4.3. PHEV
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Power Electronics for Electric Vehicles Market Size and Volume Forecast by Type
10.7.1. Power IC
10.7.2. Power Module
10.7.3. Power Discrete
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Power Electronics for Electric Vehicles Demand Share Forecast, 2019-2026
11. Europe Power Electronics for Electric Vehicles Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Power Electronics for Electric Vehicles Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Power Electronics for Electric Vehicles Market Size and Volume Forecast by Application
11.4.1. HEV
11.4.2. EV
11.4.3. PHEV
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Power Electronics for Electric Vehicles Market Size and Volume Forecast by Type
11.7.1. Power IC
11.7.2. Power Module
11.7.3. Power Discrete
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Power Electronics for Electric Vehicles Demand Share, 2019-2026
12. Asia Pacific Power Electronics for Electric Vehicles Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Power Electronics for Electric Vehicles Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Power Electronics for Electric Vehicles Market Size and Volume Forecast by Application
12.4.1. HEV
12.4.2. EV
12.4.3. PHEV
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Power Electronics for Electric Vehicles Market Size and Volume Forecast by Type
12.7.1. Power IC
12.7.2. Power Module
12.7.3. Power Discrete
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Power Electronics for Electric Vehicles Demand Share, 2019-2026
13. Middle East & Africa Power Electronics for Electric Vehicles Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Power Electronics for Electric Vehicles Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Power Electronics for Electric Vehicles Market Size and Volume Forecast by Application
13.4.1. HEV
13.4.2. EV
13.4.3. PHEV
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Power Electronics for Electric Vehicles Market Size and Volume Forecast by Type
13.7.1. Power IC
13.7.2. Power Module
13.7.3. Power Discrete
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Power Electronics for Electric Vehicles Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Power Electronics for Electric Vehicles Market: Market Share Analysis
14.2. Power Electronics for Electric Vehicles Distributors and Customers
14.3. Power Electronics for Electric Vehicles Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Infineon Technologies
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Mitsubishi Electric
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Fuji Electric
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. SEMIKRON
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. ON Semiconductor
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Renesas Electronics
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Vishay Intertechnology
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Texas Instruments
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Toshiba
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Stmicroelectronics
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. NXP Semiconductors
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Microchip Technology
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
