Urja Daily
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
No Result
View All Result
Urja Daily
No Result
View All Result
Home Editor's Pick Market Research

Soaring Demand for Electric Vehicles Worldwide to Increase Usage of Automotive Power Electronics

Urja Daily by Urja Daily
April 22, 2023
in Market Research
Reading Time: 3 mins read
0
Electric Vehicles
Share on FacebookShare on TwitterShare on Linkedin

The global automotive power electronics market is set to achieve a valuation of US$ 6 billion by 2033, advancing at 4.1% CAGR from 2023 to 2033, as per this new industry analysis by Fact.MR, a market research and competitive intelligence provider.

Power electronics is a general term that refers to a category of solid-state devices used for power regulation and conversions, such as silicon-controlled rectifiers (SCRs), diodes, thyristors, power MOSFETs, gate turn-off thyristors, and many others. They have a significant role in the control of automotive electronics. Automotive electronics is a sophisticated term formed from power electronic devices and their applications in modern electric power steering, seat control, braking systems, central body management, HEV main inverters, etc.

RELATED POSTS

Key Growth Drivers of the U.S. Charging-as-a-Service Market

Top 5 Emerging Opportunities in the LDPE Market

Increasing acceptance of electric vehicles (EVs) is the main factors driving the global automotive power electronics market. Electric vehicles are seen as a critical transition toward modern mobility solutions, providing a cleaner and more efficient method of transportation than traditional automotive. Depleting fuel resources and public uproar over rising pollution levels have fueled the demand for electric vehicles worldwide.

Compliance with safety and vehicle emission norms, as well as rising demand for vehicle connectivity, infotainment, and powertrain electrification, is expected to propel the global automotive power electronics market over the forecast period. The usage of electronics in powertrain systems is predicted to expand at a higher rate throughout the forecast period due to growing efforts by regional governments and environmental agencies to reduce emissions levels through the use of environmentally-friendly automobiles (i.e., hybrid and electric vehicles).

Key Takeaways from Market Study

  • The global automotive power electronics market amounted to US$ 4 billion in 2023.
  • Worldwide demand for automotive power electronics is estimated to increase at a CAGR of 4.1% from 2023 to 2033 (forecast period).
  • The market is forecasted to reach a size of US$ 6 billion by 2033.
  • Asia Pacific accounted for 38.7% share of the worldwide market in 2022.
  • The passenger cars segment is predicted to evolve at a CAGR of 3.7% during the forecast period.

“Global automotive power electronics market projected to witness considerable growth due to increasing modernization of vehicles, expanding demand for vehicle electrification, and rising need for connected car devices,” says a Fact.MR analyst.

Regional Analysis

Asia Pacific is leading the global automotive power electronics market. Japan and South Korea are aiding the market growth in Asia Pacific due to the increasing production of automobiles.

The North American market is expanding significantly. The United States is ruling the North American market due to the presence of major electric vehicle makers such as Tesla. Furthermore, Germany is contributing substantially to the European market growth due to the growing adoption of electric vehicles.

These insights are based on a report on Automotive Power Electronics Market by Fact.MR.

Tags: AutomotiveFact.MRpower electronics
ShareTweetShare
Urja Daily

Urja Daily

Related Posts

EV Adoption Accelerates

Key Growth Drivers of the U.S. Charging-as-a-Service Market

by Palak
June 27, 2025
0

The rapid transition towards clean energy and sustainable mobility has placed electric vehicles (EVs) at the forefront of the transportation...

LDPE Market

Top 5 Emerging Opportunities in the LDPE Market

by Palak
June 25, 2025
0

The Low Density Polyethylene Market is witnessing a significant surge in demand across multiple sectors. From flexible packaging to agriculture and...

E-bike

E-bike Market Trends 2025: What Every Investor and Manufacturer Needs to Know

by Palak
June 19, 2025
0

As the world shifts toward sustainable transportation, the electric bike or e-bike industry is gaining remarkable momentum. Investors and manufacturers...

Automotive HMI Market

Top 7 Trends Shaping the Automotive HMI Market in 2025

by Palak
June 17, 2025
0

The Automotive Human Machine Interface (HMI) Market is undergoing a transformative shift as vehicles become more intelligent, connected, and user-centric. In...

Bauxite Market

Top Bauxite Producing Countries and the Factors Driving Their Dominance

by Palak
June 16, 2025
0

The Bauxite Market in Focus The Bauxite Market is witnessing a strong upward trend, supported by the rising demand for aluminum in...

Next Post
Electric Motor for Electric Vehicle

Electric Motors For Electric Vehicle Market Extensive Growth Opportunities

Uneecops Technologies

Uneecops Technologies will set up Green Hydrogen Microgrid Project

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

THDC

THDC Inks Deals for 184.08 MW Green Power Supply from Tehri PSP

June 28, 2025
World Bank

World Bank and IAEA Ink Pact to Promote Safe Nuclear Energy in Developing Nations

June 28, 2025

MOST VIEWED

  • Hydrom

    Hydrom and Thyssenkrupp Nucera Partner for Green Hydrogen Projects in Oman

    0 shares
    Share 0 Tweet 0
  • SFC India Selected Dassault Systèmes for Indigenization and Digital Transformation of Wastewater Treatment Plants

    0 shares
    Share 0 Tweet 0
  • Juniper Green Energy Secures 1 GW Solar Module Deal with First Solar

    0 shares
    Share 0 Tweet 0
  • PGCIL Wins ISTS Project for Renewable Energy Integration in Karnataka

    0 shares
    Share 0 Tweet 0

THDC Inks Deals for 184.08 MW Green Power Supply from Tehri PSP

World Bank and IAEA Ink Pact to Promote Safe Nuclear Energy in Developing Nations

Toyota Kirloskar Motor Partners with Ohmium to Advance Green Hydrogen Solutions in India

NSE Waives Transaction Charges on Electricity Futures Until December 2025

COMAU Unveils Innovative N-WG Welding Gun at Automatica 2025

An Exclusive Interview with Rachna Kango | Delta Electronics India Private Limited

Latest Magazine

© 2016 – 2025 TechZone Print Media | All Rights Reserved

  • About Us
  • Contact Us
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe

© 2016 - 2025 TechZone Print Media | All Rights Reserved