Transparency Market Research claims the global automotive power electronics market is likely to grow at a significant rate as new players are investing a large amount in this market. Valuation of this market is likely to reach $22.65 Billion by the end of 2025. The market is projected to rise at a steady CAGR of 19% between 2017 and 2025.
- Companies such as Renesas Electronics Corp., Infineon Technologies AG, ON Semiconductor Corp., Mitsubishi Heavy Industries Ltd., and Texas Instruments Inc., are developing technologically advanced electric vehicles for transportation. Some of the other companies in this market are NXP Semiconductors N.V., Maxim Products Inc., Qualcomm Ins., Vishay Intertechnology Inc., and Robert Bosch GmbH.
- Based on vehicle type, the market is bifurcated into the commercial vehicle and passenger cars. Among these two, the passenger car is likely to lead the market and attain high revenue over the projected tenure.
- Rising demand for advanced vehicles to lead market growth.
- High cost of vehicles to hamper demand for automotive power electronics.
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Transparency Market Research