Pune, India, Jan. 20, 2022 (GLOBE NEWSWIRE) -- According to the report by Fortune Business Insights, the global Automotive Electronics market size to reach USD 144.19 billion by 2026, exhibiting a CAGR of 6.1% during the forecast period. The growing technological advancement in automotive for enhanced safety, entertainment and comfort features will contribute positively to the automotive electronics market growth during the forecast period.
Moreover, the integration of Internet of Things (IoT), artificial intelligence, and cloud computing in automobiles will spur opportunities for the automotive electronics revenue in the forthcoming years, mentioned in a report, titled “Automotive Electronics Market Size, Share & Industry Analysis, By Application Type (Advanced Driver Assistance System [ADAS], Body Electronics, Power Electronics, and Infotainment), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and Electric Vehicle) and Regional Forecasts, 2019-2026” the market size stood at USD 91.06 billion in 2018.
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Rising Adoption of Electric Vehicles to Boost Market Growth
The shift from conventional cars to electric vehicles will subsequently aid the development of the market. The preference towards electric vehicles owing to its capabilities such as high battery life, energy-efficient, advanced electronic systems, zero direct carbon emission. The companies operating in the market are investing vastly in the development of high-end hybrid cars. The growing government regulations to curb carbon emissions will positively promote the automotive electronics market share. Also, the consumer inclination towards electric vehicles equipped with parking assistance, head-up display, and powerful infotainment system will bolster the healthy growth of the market during the forecast period.
COVID-19 Impact:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
What does the Report Offer?
The report for Automotive Electronics aids in understanding the dynamics and structure of the global market by evaluating market segments and projecting the market size. The clear representation of competitive analysis of key competitors in the market by product, price, financial situation, and product portfolio.
Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/automotive-electronics-market-102840
High-Price of Electronic Systems to Diminish Business Potential
The high production cost of electric vehicles will simultaneously escalate the overall cost of hybrid cars, which, in turn, will hamper the growth of the market during the forecast period. The rising popularity of electric vehicles (EV) has led to the development of advanced driver assistance systems (ADAS) and infotainment systems. The massive investment in R&D activities by companies along with the high cost of lithium-ion batteries and software used in vehicles will consequently surge the manufacturing cost, thus, leading to costly EVs. Besides, the complexities of electric vehicles and high maintenance and replacement cost will dampen the automotive electronics market trends.
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Presence of Major Automotive Giants to Augment Growth in Europe
Asia Pacific generated a revenue of USD 43.49 in 2018 and is predicted to grow profoundly during the forecast period owing to the flourishing automobile industry. The presence of various automotive manufacturers in India, China and Japan will aid the expansion of the market in Asia Pacific. The rising production capabilities of manufacturing facilities will propel the growth of the market in the forthcoming years. The increasing awareness about the advantages of EVs will contribute positively to the automotive electronics market growth. Europe is predicted to expand radically in the foreseeable future owing to the existence of automobile giants such as Volkswagen, Skoda, Audi, BMW, Daimler. In addition, the rising focus of the European government to curb carbon emissions and ensure safety features in every vehicle will encourage the healthy growth of the market during the forecast period.
List of the Companies Operating in the Market:
- Continental AG
- Robert Bosch GmbH
- SONY Corporation
- Aptiv PLC
- Hyundai Mobis
- ZF Friedrichshafen AG
- Autoliv Inc.
- Magna International Inc.
- Aisin Seiki Co. Ltd
- Philips N.V.
- Infineon Technologies AG
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Global Automotive Electronics Market Segmentation:
By Application Type:
- Advanced Driver Assistance System (ADAS)
- Body Electronics
- Power Electronics
- Infotainment
By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicle
By Geography:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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Part II - Automotive Powertrain Electronics Market Research Report 2021-2025:
According to the report, the global Automotive Powertrain Electronics market size to reach USD 83.47 Billion at 7.0% CAGR BY 2026; Urgent Need to Curb Emissions will Favor Growth. The global automotive powertrain electronics market is likely to gain impetus from the rising usage of DC fast charging. Nowadays, the electric vehicle (EV) sector is taking the charger out of some vehicles and are storing them off-board for other usage. The report further mentions that the automotive powertrain electronics market size was USD 49.55 billion in 2018 and is projected to reach USD 83.47 billion by 2026, exhibiting a CAGR of 7.0% during the forecast period.
Automotive Powertrain Electronics Market Key Companies Analyzed in this Report Are Continental AG (Germany), Texas Instruments Inc. (U.S.), NXP Semiconductors (Netherlands), Robert Bosch GmbH (Germany), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan).
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Rising Standardization of Core Product Segment to Augment Growth
The standardization of core product segments is one of the major factors driving the automotive powertrain electronics market growth. These consist of 40 to 150 kW inverters or 48V systems. It would help in reducing the obstacles required for the tier-2 suppliers of semiconductors to enter the market. They would eventually increase pressure on the average selling price of the system and hence, surge competition. Apart from that, the automotive powertrain electronics are gaining popularity owing to the adoption of EVs. This is mainly occurring as the auto industry is trying to lower the cost of batteries and satisfy the consumer demand. However, there is a threat to the advancement of EVs as there are shortages of the supply of dysprosium. It may obstruct market growth.
COVID-19 Impact:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Inverter Segment to Grow Steadily Backed by Ongoing Technological Advancements
Based on component type, the inverter segment held 34.83% automotive powertrain electronics component market share in 2018. This growth is attributable to the rising technological innovations in battery and inverter technologies. These are aiding in the improvement of the range of electric vehicles (EVs). Additionally, the price of EVs may reduce because of the development of such novel technologies. It would also upsurge the demand for inverters worldwide.
Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/automotive-powertrain-electronics-market-102856
What does the Report Offer?
The report for Automotive Powertrain Electronics aids in understanding the dynamics and structure of the global market by evaluating market segments and projecting the market size. The clear representation of competitive analysis of key competitors in the market by product, price, financial situation, and product portfolio.
Asia Pacific to Dominate Stoked by Expansion of Automotive Industry
The market is regionally segregated into Asia Pacific, Europe, North America, and the rest of the world. Out of these, Asia Pacific generated USD 23.28 billion revenue in 2018 and is set to lead the market throughout the forecast period. This growth is attributable to the expansion of the automotive industry in the developing countries, such as India and China. Also, the high volume markets, as well as the rising demand for innovative safety and electronic features in passenger cars are likely to contribute to the market growth in this region. Europe is set to remain in the second position backed by the increasing usage of electric vehicles in this region. In addition to that, the governments of various European countries are implementing stringent norms on commercial vehicles and passenger cars to lower the carbon emissions.
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Key Players Focus on Collaboration Strategy to Gain Competitive Edge
The major companies present in the market are striving persistently to invest huge sums in the development of state-of-the-art products. It would help them in strengthening their position and widening their reach in the market. They are also adopting the strategy of collaborations and partnerships to gain a competitive edge. Below is a key industry development:
November 2018: NXP Semiconductors N.V. joined hands with VEPCO Technologies, Inc. to develop a high-voltage, ASIL-D-capable inverter prototype and power control reference platform. The platform consists of a Fuji Electric 800V silicon IGBT power module. It is blended with temperature and current sensing.
List of the Companies Operating in the Market:
- Continental AG (Germany)
- Texas Instruments Inc. (U.S.)
- NXP Semiconductors (Netherlands)
- Robert Bosch GmbH (Germany)
- Renesas Electronics Corporation (Japan)
- Infineon Technologies AG (Germany)
- Mitsubishi Electric Corporation (Japan)
- Toshiba Corporation (Japan)
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Global Automotive Powertrain Electronics Market Segmentation:
By Component Type:
- Electric Motor
- Inverter
- DC/DC Converter
- Battery Management System
- Cell Module Controller
- On-Board Charger
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Geography:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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