According to a new market report published by Lucintel, the future of the global market for power electronics in electric vehicles looks promising with opportunities in the passenger vehicle, light commercial vehicle, and electric vehicle segments. The global market for power electronics in electric vehicles is expected to grow with a CAGR of 5% from 2021 to 2026. The major drivers for this market are increasing demand for energy-efficient battery-powered devices, adoption of electronics in powertrain systems, and increasing demand for connected cars and electric vehicles.
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In this market, power electronics are used in passenger vehicles, light commercial vehicles, and electric vehicles. On the basis of comprehensive research, Lucintel forecasts that passenger vehicles will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to the increased demand for safety systems and fuel efficient technology associated with vehicle power train in emerging markets.
North America is expected to remain the largest market and witness the highest growth over the forecast period due to the high electric vehicle production with increased demand for high-end electronics and safety features in passenger cars.
Emerging trends, which have a direct impact on the dynamics of the industry, include growing vehicle safety standards, rising preference of electric standards, and demand for performance improvement and fuel efficiency. Analog Devices, Continental, Dialog Semiconductor, Fuji Electric, Infineon Technologies, Kongsberg Automotive, Microchip Technology, Mitsubishi Electric, NXP Semiconductors, Qualcomm Technologies, Robert Bosch, Texas Instruments, and Toshiba Corporation are among the major suppliers of power electronics in the global the electric vehicle market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for power electronics in the global electric vehicle market by application, electric vehicle type, vehicle type, component, and region, and has compiled a comprehensive research report titled “Growth Opportunities for Power Electronics in the Global Electric Vehicle Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for power electronics in the global electric vehicle market by application, electric vehicle type, vehicle type, component, and region, as follows:
By Application Type [Value ($ Million) from 2015 to 2026]:
Powertrain and chassis
Body electronics
Safety & security systems
Infotainment & telematics
By Electric Vehicle Type [Value ($ Million) from 2015 to 2026]:
Battery Electric Vehicles
Hybrid Electric Vehicles
Plug-in-Hybrid Electric Vehicles
By Vehicle Type [Value ($ Million) from 2015 to 2026]:
Light Commercial vehicles
Electric Vehicles
By Component [Value ($ Million) from 2015 to 2026]:
Microcontroller Units (MCUs)
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.