Global Electric Vehicle Power Electronics Market 2017-2021

Overview of the global electric vehicle power electronics market

According to Technavio's research analysis, the presence of stringent fuel economy standards will be one of the major factors that will have a positive impact on the global electric vehicle (EV) power electronics market in the coming years. The governments around the world are raising the levels of fuel duty to decrease the utilization of motorized vehicles. For instance, in 2014, the fuel consumption tax in China was increased regardless of falling global oil prices as part of measures to control pollution and lessen carbon emissions. This rise in the levels of fuel duty has an adverse effect on the monthly budget of several people compelling them to choose an alternative and effective ways of transportation. Presently, numerous governments globally have changed their focus on making use of environment friendly technology. The engine of BEVs is more efficient and does not emit harmful gases compared to ICE-powered vehicles. Regulations to limit ICE-based vehicle adoption is propelling the growth of EV power electronics market. Also, the strict fuel economy standards are pushing automotive OEMs to implement better technologies for raising the efficiency of passenger cars. This leads to a rise in fuel economy of vehicles. Our market research analysts predict that this market will grow at a CAGR of close to 19% by 2021.

The rising usage of ultra-capacitors in EVs to lower the charging time is one of the latest trends that will gain traction in the electric vehicle power electronics market. An ultra-capacitor is an energy storage device that stores energy through an electric field compared to a conventional battery that stores energy through chemical processes. As an ultra-capacitor conducts electricity through an electric field, it can store higher charge quantities than a battery. Also, an ultra-capacitor has a larger energy density, and cost about 30%-40% lesser than regular Li-ion battery packs. During high power load situations, EVs can pull in more power from these ultra-capacitors for instant electric power steering that reduces the load on the primary energy source such as a Li-ion battery or an ultra-capacitor module.

Competitive landscape and key vendors  

The global EV power electronics market consists of many manufacturers. The electric vehicle (EV) power electronics market is categorized by rapid technological innovations. The market is concentrating and investing in innovative technologies such as WBG during the forecast period. The rising demand for EVs globally is likely to introduce new regional players in the market. This will drive the growth of the electric vehicles market.

The leading vendors in the market are ?

• Continental
• Delphi
• Hitachi
• Infineon Technologies
• ZF

The other prominent vendors in the market are Bosch, BYD, Fairchild Semiconductors, STMicroelectronics, Texas Instruments, and Toyota Motor.

Segmentation by vehicle type and analysis of the EV power electronics market

• Commercial EVs
• Passenger EVs

During 2016, the passenger EVs  segment accounted for the major shares of the corrugated software market. Factors such as the increasing demand for EVs from Japan, the US, and China and its low costs with long battery range will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the EV power electronics market

• APAC
• Europe
• North America

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the EV power electronics market throughout the forecast period. The increased adoption of electric vehicles in countries such as Japan and China and increasing focus of the local authorities to adopt EVs to lower the reliance on fossil fuels and control vehicle pollution will drive the market growth in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global electric vehicle (EV) power electronics market?
• What are the key market trends impacting the growth of the global electric vehicle (EV) power electronics market?
• What are the challenges to market growth?
• Who are the key vendors in the global electric vehicle (EV) power electronics market?
• What are the market opportunities and threats faced by the vendors in the global electric vehicle (EV) power electronics market?
• Trending factors influencing the market shares of the
• What are the key outcomes of the five forces analysis of the global electric vehicle (EV) power electronics market?

Technavio also offers customization on reports based on specific client requirement.

An electric vehicle's power electronics includes an inverter and a DC/DC converter. The inverter converts the direct current of the battery into the three-phase alternating current that is required by the electric motor. As per our market intelligence experts, the increasing demand for vehicle hybridization may influence the growth of the global electric vehicle power electronics market during the next few years. To offer strategic market insights, this report also covers vendors such as Toyota Industries Corporation, Hitachi, and Continental.  

This upcoming research report on the electric vehicle power electronics market offers an in-depth understanding of the trends and drivers influencing the growth of the automotive industry. Our industry experts follow a scrupulous data collection methodology and present an extensive analysis of dynamically changing market segments like automotive electronics. To help clients gain a competitive advantage in niche markets, this report on the electric vehicle power electronics market covers geographies like the Americas, APAC, and EMEA and also focuses on the challenges witnessed by the electric vehicle power electronics market over the coming years.

The research report for the global electric vehicle power electronics market categorizes the drivers, trends, along with the restraints that the automotive electronics sector currently experiences. This upcoming report on the global electric vehicle power electronics market presents insights into the rapidly changing vendor landscape to give clients a holistic outlook of the forthcoming events within the automotive industry. Technavio also presents detailed market outlook into the sectors such as automotive manufacturing and automotive components.