United States of America – 29-May-2025 The Insight Partners is proud to announce its newest market report: “An In-depth Analysis of the Automotive Power Electronics Market.” The report provides a holistic view of the Automotive Power Electronics market and describes the current scenario as well as growth estimates during the forecast period.
Overview of Automotive Power Electronics Market
There has been significant development in the Automotive Power Electronics Market, including notable growth, shifting market dynamics, and evolving industry trends. This report explores the driving forces behind these changes, including rapid technological advancements in electric vehicles (EVs), Hybrid Electric Vehicle stringent emission regulations, and the increasing preference for energy-efficient automotive systems.
Key Findings and Insights
Market Size and Growth
- Historical Data & Forecast: The Automotive Power Electronics Market is estimated to reach US$ 10,928.29 million by 2031, rising from US$ 4,898.20 million in 2023, growing at a CAGR of 10.7% from 2023 to 2031. These projections offer valuable insights into the sector’s future direction and potential.
Key Factors Affecting the Automotive Power Electronics Market
- Electrification of Vehicles – Increasing production and adoption of EVs and hybrid vehicles.
- Government Regulations – Strict emission norms and energy efficiency standards.
- Technological Advancements – Developments in wide-bandgap semiconductors such as SiC and GaN.
- Growing Demand for Advanced Driver Assistance Systems (ADAS) – Power electronics play a key role in supporting intelligent automotive systems.
- Rising Investment in Smart Mobility – Expansion of charging infrastructure and smart grid technology integration.
Market Segmentation
The Automotive Power Electronics Market is segmented based on:
- Component:
- Power IC
- Power Module
- Power Discrete
- Application:
- ADAS and Safety
- Body Electronics
- Infotainment and Telematics
- Electric Vehicle and Hybrid Electric Vehicle
- Powertrain
- Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
- Propulsion:
- ICE Vehicles
- Electric Vehicles (Battery EV, Plug-in Hybrid EV)
- Geography:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Spotting Emerging Trends
Technological Advancements
New materials like silicon carbide (SiC) and gallium nitride (GaN) are revolutionizing power efficiency, heat management, and compact design in automotive electronics. Integration of AI and machine learning into vehicle control systems is also reshaping power electronics architecture.
Changing Consumer Preferences
Consumers are increasingly favoring EVs for their environmental benefits, leading to surging demand for efficient power modules and controllers that extend vehicle range and performance.
Regulatory Changes
Governments across North America, Europe, and Asia are implementing aggressive zero-emission policies and subsidy programs, which significantly impact market dynamics and drive demand for automotive power electronics components.
Growth Opportunities
The Automotive Power Electronics Market presents multiple growth opportunities:
- Expansion in EV Manufacturing: OEMs are scaling up EV production, generating a strong demand for inverters, converters, and onboard chargers.
- Smart Charging Infrastructure: The rise of V2G (Vehicle-to-Grid) technology will open new avenues for integrated power electronics.
- Innovation in Thermal Management: Demand for systems that improve energy density and thermal performance is encouraging R&D in packaging and materials.
- Localization of Supply Chains: Regional manufacturing hubs are emerging to reduce dependence on global supply chains and to address chip shortages.
- Partnerships and M&A Activity: Collaborations between automakers and semiconductor companies are fostering innovation and fast-tracking commercialization.
Conclusion
The Automotive Power Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023–2031 report provides much-needed insight for companies aiming to establish or expand their presence in this rapidly evolving sector. With an in-depth analysis of competitive dynamics, regulatory frameworks, and growth trajectories, this report serves as a powerful tool for informed decision-making and strategic planning.
About The Insight Partners
The Insight Partners is among the leading market research and consulting firms in the world. We take pride in delivering exclusive reports along with sophisticated strategic and tactical insights into various industries. Our reports are generated through a combination of primary and secondary research to offer knowledge-based insights and actionable strategies. We aim to help our clients make smarter business decisions through a holistic and reliable research methodology.
