The power electronics for electric vehicle market size was valued at $2.59 billion in 2018, and is projected to reach $30.01 billion by 2026, growing at a CAGR of 35.5% from 2019 to 2026. Power electronic is the key technology for energy saving and high functionalizing in energy usage. Power electronic plays an important role in the electrified vehicle applications, which provides compact and high-efficient solutions to power conversion. Power electronics is an engineering study of converting electrical power from one form to another. The world-wide average rate of 12 billion kilowatts every hour of every day of every year, more than 80% of the power generated, is being reprocessed or recycled through some form of power electronic systems.
The inverters segment secured highest revenue share in power electronics for electric vehicle market in 2018. However, on-board chargers’ market is anticipated to witness higher growth rate during the forecast period, owing to growth in electrification of vehicle. Among the end users, automotive segment dominated the power electronics market in 2018, and is projected to follow same trend during forecast period. The railway segment is expected to grow at a CAGR of 40.7% from 2019 to 2026, owing to surge in demand for electric propulsion systems in the locomotive industry.
Rise in interest of energy efficiency power devices and environmental protection has led to the development of electric vehicle technology. The primary energy sources in these vehicles are batteries or capacitors instead of gasoline or diesel fuel as in the conventional ICE vehicles. The power electronics are key components in propulsion system that effectively drive the adoption of electric motor and control the power converters. The implementation of innovative battery technology in electric vehicle is in progress, which is expected to reduce the cost of these vehicles. Currently, the performance of lithium-ion battery cathodes is being improved, which also reduces battery cost; thereby, reducing the cost of electric vehicle as compared to gas power vehicle in the coming years.
The major factors that drive the power electronics for electric vehicle market include surge in demand for energy-efficient battery-powered devices, stringent emission regulations to reduce vehicle weight and emission, and government initiatives to balance environmental pollution and vehicle emission. However, high cost of vehicle and complexity in designing and integrating advance power electronic components in electric vehicles hinder the power electronics for electric vehicle market growth. Furthermore, technological advancements in vehicle battery and increase in R&D activities are expected to create lucrative growth opportunities for the power electronics for electric vehicle market. In addition, power electronics supports high input impedance and improved parallel current sharing, which increases the adoption of power electronic components in electric vehicles.
The power electronics for electric vehicle market is segmented on the basis of application, end use, and region. The application segment is divided into inverter, converter, and on-board charger. By end use, the market is classified into automotive, railway, marine, and electrically powered airborne vehicles
The key players profiled in the report include Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, Delphi Technologies, and other companies that secured major share in the automotive electronics market. The other key player profiled in this report include Continental AG, Hitachi Automotive Systems, Ltd., Delphi Technologies, Valeo, Mitsubishi Electric Corporation, Denso Corporation, Infineon Technologies, Robert Bosch GmbH, Hella, Panasonic Corporation, Tesla Inc., Toyota Industries Corporation, and Hangzhou Tiecheng Information Technology.
KEY MARKET SEGMENTS
BY APPLICATION
• Inverter
• Converter
• On-board Charger
BY END USE
• Automotive
• Railways
• Marine
• Electrically Powered Airborne Vehicles
KEY PLAYERS
• Denso Corporation
• Robert Bosch GmbH
• Infineon Technologies AG
• Delphi Technologies
• Continental AG
• Hitachi Automotive Systems, Ltd.
• Delphi Technologies
• Valeo
• Mitsubishi Electric Corporation
• Denso Corporation
• Infineon Technologies
• Robert Bosch GmbH
• Hella
• Panasonic Corporation
• Tesla Inc.
• Toyota Industries Corporation
• Hangzhou Tiecheng Information Technology
•
Chapter 1: Introduction
1.1. Report Description
1.1. Key Benefits For Stakeholders
1.2. Key Market Segments
1.3. Research Methodology
1.3.1. Primary Research
1.3.2. Secondary Research
1.3.3. Analyst Tools And Models
Chapter 2: Executive Summary
2.1. Cxo Perspective
Chapter 3: Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top Impacting Factors
3.2.2. Top Investment Pockets
3.3. Porter’S Five Forces Analysis
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Surge In Demand For Energy-Efficient Battery-Powered Devices
3.4.1.2. Stringent Emission Regulations To Reduce Vehicle Weight And Emission
3.4.1.3. Government Initiative To Balance Environmental Pollution
3.4.2. Restraints
3.4.2.1. Increasing Cost of Electric Vehicles
3.4.2.2. Complexity In Designing And Integration of Advance Power Electronic Components In Electric Vehicles
3.4.3. Opportunity
3.4.3.1. Technological Advancements In Vehicle
3.4.3.2. Improvement In Electric Vehicles R&D & Battery Technology
3.5. Power Electronic For Electric Vehicle Market – Value Chain Analysis
3.5.1. Semiconductor Industry-Value Chain Analysis
Chapter 4: Global Power Electronics For Electric Vehicle Market, By Application
4.1. Overview
4.2. Inverter
4.2.1. Key Market Trends, Growth Factors, And Opportunities
4.2.2. Market Share Analysis, By Supplier (Automotive And Non-Automotive)
4.2.3. Company Snapshot For Five Tier 1 Suppliers
4.2.3.1. Continental Ag
4.2.3.2. Hitachi Automotive Systems Ltd.
4.2.3.3. Delphi Technologies Plc
4.2.3.4. Valeo S.A.
4.2.3.5. Mitsubishi Electric Corporation
4.3. Converter
4.3.1. Key Market Trends, Growth Factors, And Opportunities
4.3.1. Market Share Analysis, By Supplier (Automotive And Non-Automotive)
4.3.2. Company Snapshot For Five Tier 1 Suppliers
4.3.2.1. Denso Corporation
4.3.2.2. Robert Bosch Gmbh
4.3.2.3. Infineon Technologies Ag
4.3.2.4. Continental Ag
4.3.2.5. Hella Kgaa Hueck & Co.
4.4. On-Board Charger
4.4.1. Key Market Trends, Growth Factors, And Opportunities
4.4.2. Market Share Analysis, By Supplier (Automotive And Non-Automotive)
4.4.3. Company Snapshot For Five Tier 1 Suppliers
4.4.3.1. Nichicon Corporation
4.4.3.2. Tesla, Inc.
4.4.3.3. Panasonic Corporation
4.4.3.4. Toyota Industries Corp.
4.4.3.5. Hangzhou Tiecheng Information Technology Co., Ltd.
Chapter 5: Power Electronic For Electric Vehicle Market, By End Use
5.1. Overview
5.2. Automotive
5.2.1. Key Market Trends, Growth Factors, And Opportunities
5.3. Railways
5.3.1. Key Market Trends, Growth Factors, And Opportunities
5.4. Marine
5.4.1. Key Market Trends, Growth Factors, And Opportunities
5.5. Electrically Powered Airborne Vehicles
5.5.1. Key Market Trends, Growth Factors, And Opportunities
Research Methodology
It is a well-organized procedure to carry out research. We at Market Growth Insight follow global, all-inclusive & iterative research methodology to develop our research reports. We are using both the top down as well as bottom-up approaches for partitioning and evaluating the significant aspects of the market.
It is a systematic & strategic approach for conducting a market study. Our market research methodology is based on the concept that gives a detailed description of the factors behind an observation. Let us see the detailed market research methodology.
Primary Data Research
It is the very basic stage of research the raw data is obtained and collected on a boarded front.Data is constantly filtered to ensure that only validated and authenticated sources are considered. Moreover,information is also mined from a large group of reports in our vault, as well as various reputed paid databases. It is necessary to understand the entire value chain and in order to facilitate this; we gather information from raw material suppliers, distributors as well as buyers, for extensive knowledge of the market.
The technical issues and trends are acquired from reviews, technical discussion and trade journals. Moreover, the technical data is also accumulated from intellectual property prospective, focusing on a void area and freedom of movement. The industry elements regarding drivers, restraints, pricing trends are also collected. Subsequently, the material developed contains a wide range of original and unique information that is then further cross-validated and authenticated with published sources.
Statistical Model
Simulation models are responsible to estimate and forecast our market, and for each research, a unique model is created and customized. The data accumulated for market dynamics, innovation scene, application improvement, estimating trends is delivered into the model and analyzedsimultaneously. These components are examined on a comparative basis, and their impact on the figure of the frame is measured with the assistance of correlation, regression and time series investigation. Forecasting of the market is performed through the consolidation of economic tools, innovative examination, and industry experience along with domain expertise. Generally, economic models are utilized for short-termforecasting, technological market models are used for long-term forecasting of a market. These are based on an amalgamation of technology innovation, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to the market estimation is preferred, with key regional markets analyzed as separate entities and integration of information to get a worldwide evaluation. This is very critical for a deep knowledge of the business as well as ensuring negligible mistakes. Below mentioned are some of the parameters are considered for forecasting
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory situation and expected developments
Current capacity and expected capacity additions up to 2025
Market driving organizations
The key targets of essential research are as per the following
To approve our information as far as exactness and adequacy
To pick up an understanding of the present market and future desires
We dole out weights to these parameters and evaluate their market effect utilizing weighted normal examination, to infer a normal market development rate.
This is the last advance in assessing and anticipating for our reports. Thorough essential meetings are led, on up close and personal and additionally via telephone to approve our discoveries and suppositions used to get them. Interviewees are drawn closer from driving organizations over the esteem chain including providers, innovation suppliers, area specialists,and purchasers in order to guarantee an all-encompassing and fair photo of the market. Essential meetings help in information approval, as well as give basic bits of knowledge into the market, current business situation and future desires and upgrade the nature of our reports. Every one of our assessments and figure is checked through comprehensive essential research with Key Industry Participants (KIPs) which ordinarily include:
Preliminary Investigation
This is the closing phase in estimating and forecasting for our reports. In this stage face to face and telephonic exhaustive interviews are conducted to validate our conclusion and assumptions used to obtain the final data. The leading companies across the value chain including suppliers, technology providers, domain experts,and purchasers are approaching the interviewees to ensure a holistic and unbiased view of the market. These interviews are led over the world, with language boundaries defeat with the guide of local staff and translators. Primary interviews in information validation as well as give critical insights into the market, current business outline and future expectations upgrade the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants include
Leading market organizations
The key targets of primary research are as per the following:
To validate our data as far as exactness and adequacy
To pick up an understanding into the present market and future desires
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