Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Electric Vehicle Power Electronics Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Are the Expected Market Growth Rates for the Electric Vehicle Power Electronics Market?
The market size of the electric vehicle power electronics sector has seen significant expansion in the past few years. The size rose from $12.2 billion in 2024 and is projected to increase to $16.52 billion in 2025, with a compound annual growth rate (CAGR) of 35.5%.
What Are the Expected Market Growth Trends for the Electric Vehicle Power Electronics Market Through 2029?
The Electric Vehicle Power Electronics Global Market is anticipated to reach a value of $49.64 billion in 2029, displaying a Compound Annual Growth Rate (CAGR) of 31.7%.
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What Are the Key Business Drivers in the Electric Vehicle Power Electronics Market Landscape?
The key drivers in the electric vehicle power electronics market are:
• Rising population driving the demand for more electric vehicles
• Increase in infotainment features in electric vehicles
• Growing need for cost-effective and eco-friendly transport options
• Technological advancements and product innovations in battery technology for electric vehicles
How Is the Electric Vehicle Power Electronics Market Divided Across Key Categories?
The electric vehicle power electronics market covered in this report is segmented –
1) By Component: Microcontroller, Sensor
2) By Device Type: Power Integrated Circuit (IC), Direct Component, Module
3) By Material: Silicon, Silicon Carbide, Gallium Nitride, Gallium Arsenide, Germanium, Other Materials
4) By Electric Vehicle: Battey Electric Vehicle, Plug In Hybrid Electric Vehicle, Hybrid Electric Vehicle, Fuel Cell Electric Vehicle
5) By Application: Advanced Driver Assistance Systems (ADAS) And Safety, Body Control And Comfort, Infotainment, Telematics, Engine Management And Powertrain, Battey Management
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What Are the Ongoing Trends in the Electric Vehicle Power Electronics Market?
The key trends in the electric vehicle power electronics market are:
• Advancements in battery technology are shaping the future of the market.
• It's noticeable that there are ongoing technological innovations impacting the sector.
• The market is being influenced significantly by product innovations.
• The rise in electric vehicles also portrays an emerging trend in this market.
Which Companies are Expanding in the Electric Vehicle Power Electronics Industry?
Major players in the electric vehicle power electronics market are:
• Robert Bosch GmbH
• Tesla Inc.
• Siemens AG
• Hitachi Automotive Systems Ltd.
• Denso Corporation
• Continental AG
• Hyundai Kefico Corporation
• Mitsubishi Electric Corporation
• Asea Brown Boveri Groups
• Toshiba Corporation
• Toyota Industries Corporation
• Valeo Corporation
• Texas Instruments
• Infineon Technologies AG
• NXP Semi Conductors
• Renesas Electronics
• OnSemi
• Microchip Technology
• Vishay Intertechnology
• Danfoss Corporation
• Fuji Electronic Co. Ltd.
• Delphi Technologies
• Hangzhou Tiecheng Information Technology
• Electrodrive Powertrain Solution Pvt. Ltd.
Which is the Largest Region the Global Electric Vehicle Power Electronics Market?
Asia-Pacific was the largest region in the electric vehicle power electronics market in 2024
