Europe Automotive Power Electronics Market (2024-2030) | Companies, Share, Growth, Outlook, Analysis, Size, Forecast, Industry, Value, Trends & Revenue

Europe Automotive Power Electronics Market Highlights

Report Name	Europe Automotive Power Electronics Market
Forecast Period	2024-2030
Forecast Size	USD 4.32 billion - USD 5.73 billion
CAGR	8.29%
Growing Sector	Automotive Industries

Topics Covered in the Europe Automotive Power Electronics Market Report

Europe Automotive Power Electronics Market report thoroughly covers the By Countries, By Device Type, By Component, By Vehicle Type. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Europe Automotive Power Electronics Market Size & Analysis

Europe Automotive Power Electronics Market was valued at USD 4.32 billion and is projected to reach USD 5.73 billion, growing at a CAGR of 8.29 % during the forecast period. This growth can be attributed to the increasing production and sales of electric and hybrid vehicles in Europe, as well as the growing adoption of advanced vehicle electronics.

Europe Automotive Power Electronics Market Synopsis

Europe Automotive Power Electronics Market is rapidly evolving with the integration of advanced technologies such as power electronics. Power electronics play a crucial role in modern vehicles by converting and controlling electrical energy for efficient operation of various components, including electric motors, sensors, and actuators. In Europe, the automotive power electronics market is experiencing significant growth due to the increasing demand for electric and hybrid vehicles, government initiatives promoting sustainable transportation, and strict emission regulations.

According to 6Wresearch, Europe Automotive Power Electronics Market Size is expected to reach at a significant CAGR of 8.29% during the forecast period 2024-2030. One of the key drivers for the growth of this market is the rising trend towards electric and hybrid vehicles. With governments implementing strict regulations to reduce emissions, automakers are now investing heavily in developing electric and hybrid vehicles, which require advanced power electronics for optimal performance. This is expected to drive the demand for power electronics in the automotive sector.

Despite the Europe Automotive Power Electronics Market Growth, there are also several challenges which includes high cost associated with these electronic components. As technology continues to advance, the cost of developing and manufacturing advanced power electronics increases, making it difficult for smaller players to compete in the market. Another major challenge is the lack of standardization in this industry. With multiple manufacturers producing different types of power electronics, compatibility issues can arise when integrating them into vehicles from different brands. This not only adds complexity but also increases costs for automakers.

Europe Automotive Power Electronics Market Trends

Europe Automotive Power Electronics Industry is experiencing several notable trends that One of the major trends observed in this market is the shift towards high-voltage systems. High-voltage systems are becoming increasingly popular as they offer better efficiency, improved performance, and reduced size and weight compared to traditional low-voltage systems. This trend is expected to continue as automakers strive to meet the stringent emission regulations and improve the overall performance of electric vehicles.

Another trend in the Europe automotive power electronics market is the increasing use of silicon carbide (SiC) and gallium nitride (GaN) based semiconductors. These materials have superior properties such as lower resistance, higher switching frequency, and better thermal conductivity compared to traditional silicon-based semiconductors. This allows for improved efficiency and reduced size and weight of electronic components, making them ideal for use in electric vehicles. Furthermore, government initiatives promoting the use of SiC and GaN based semiconductors in electric vehicles are further driving the adoption of these materials in the market.

Investment Opportunities in the Europe Automotive Power Electronics Market 

Automotive power electronics is a rapidly growing market in Europe, driven by the increasing demand for electric vehicles and advancements in technology. This has created lucrative investment opportunities for companies looking to enter or expand their presence in this region. In this section, we will discuss some of the key areas within the Europe automotive power electronics market that offer promising investment opportunities.

The electric vehicle market in Europe is expected to witness significant growth in the coming years, with countries such as Germany, France, and Norway leading the adoption of electric vehicles. This presents a huge opportunity for companies involved in automotive power electronics, as electric vehicles rely heavily on sophisticated electronic systems for their operation.

Leading Players in the Europe Automotive Power Electronics Market 

Several leading players dominate the Europe Automotive Power Electronics Market Share including both international and local manufacturers. Some of the leading players operating in the Europe automotive power electronics market include Robert Bosch GmbH, Infineon Technologies AG, Texas Instruments Inc., STMicroelectronics NV, NXP Semiconductors NV, ON Semiconductor Corp., Renesas Electronics Corp., Mitsubishi Electric Corp., Toshiba Corporation, and Hitachi Ltd. These companies are constantly innovating and introducing new products to stay ahead in the market.

Government Regulations

The European Union has been at the forefront of promoting sustainable transportation and reducing carbon emissions from vehicles. This has led to stringent regulations being imposed on automakers, encouraging them to incorporate more environmentally friendly technologies in their vehicles. As a result, the demand for power electronics is expected to increase significantly in the coming years.

Future Insights of the Europe Automotive Power Electronics Market 

The future of the Europe automotive power electronics market looks promising, with a growing emphasis on environmentally friendly vehicles and advancements in technology. As electric and hybrid vehicles become more mainstream, the demand for power electronics is expected to increase even further. Moreover, with ongoing research and development, we can expect to see more efficient, reliable, and cost-effective power electronic devices being introduced in the market in the coming years.

This will not only drive the growth of this market but also contribute towards creating a sustainable future for transportation. So, it is essential for automakers to keep up with these developments in order to stay competitive in the market. Overall, the Europe automotive power electronics market is expected to witness steady growth and offer lucrative opportunities for key players in the industry.

Market Segmentation Analysis

The report offers a comprehensive study of the subsequent market segments and their leading categories.

United Kingdom to Dominate the Market- By Countries

The United Kingdom, with its strong presence in luxury car manufacturing, is also expected to contribute significantly to the growth of the European market. France, another major player in the automotive industry, is actively promoting electric and hybrid vehicles through government initiatives and incentives. This is expected to boost the demand for automotive power electronics in the country.

Power electronics to Dominate the Market-By Device Type

According to Nitesh Kumar, Research Manager, 6Wresearch, it is expected that the industrial segment will dominate the European automotive power electronics market by device type. This can be attributed to the increasing use of power integrated circuits (ICs) and modules & discrete components in various applications within this sector.

Sensor to Dominate the Market-By Component Type

One component that is growing in demand in the Europe automotive power electronics market is the sensor. Sensors play a crucial role in modern vehicles by providing real-time data to the vehicle's control system, allowing for efficient functioning and improved safety.

Passenger vehicles to Dominate the Market-By Vehicle Type

According to recent studies, the demand for passenger vehicles in the Europe automotive power electronics market is expected to witness significant growth. This can be attributed to factors such as increasing disposable income, growing urbanization, and government initiatives promoting the adoption of electric vehicles.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Europe Automotive Power Electronics Market Outlook
• Market Size of Europe Automotive Power Electronics Market, 2023
• Forecast of Europe Automotive Power Electronics Market, 2030
• Historical Data and Forecast of Europe Automotive Power Electronics Revenues & Volume for the Period 2020 - 2030
• Europe Automotive Power Electronics Market Trend Evolution
• Europe Automotive Power Electronics Market Drivers and Challenges
• Europe Automotive Power Electronics Price Trends
• Europe Automotive Power Electronics Porter's Five Forces
• Europe Automotive Power Electronics Industry Life Cycle
• Historical Data and Forecast of Europe Automotive Power Electronics Market Revenues & Volume By Device Type for the Period 2020 - 2030
• Historical Data and Forecast of Europe Automotive Power Electronics Market Revenues & Volume By Power IC for the Period 2020 - 2030
• Historical Data and Forecast of Europe Automotive Power Electronics Market Revenues & Volume By Module & Discrete for the Period 2020 - 2030
• Historical Data and Forecast of Germany Automotive Power Electronics Market Revenues & Volume By Device Type for the Period 2020 - 2030
• Historical Data and Forecast of Germany Automotive Power Electronics Market Revenues & Volume By Power IC for the Period 2020 - 2030
• Historical Data and Forecast of Germany Automotive Power Electronics Market Revenues & Volume By Module & Discrete for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Automotive Power Electronics Market Revenues & Volume By Device Type for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Automotive Power Electronics Market Revenues & Volume By Power IC for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Automotive Power Electronics Market Revenues & Volume By Module & Discrete for the Period 2020 - 2030
• Historical Data and Forecast of France Automotive Power Electronics Market Revenues & Volume By Device Type for the Period 2020 - 2030
• Historical Data and Forecast of France Automotive Power Electronics Market Revenues & Volume By Power IC for the Period 2020 - 2030
• Historical Data and Forecast of France Automotive Power Electronics Market Revenues & Volume By Module & Discrete for the Period 2020 - 2030
• Historical Data and Forecast of Italy Automotive Power Electronics Market Revenues & Volume By Device Type for the Period 2020 - 2030
• Historical Data and Forecast of Italy Automotive Power Electronics Market Revenues & Volume By Power IC for the Period 2020 - 2030
• Historical Data and Forecast of Italy Automotive Power Electronics Market Revenues & Volume By Module & Discrete for the Period 2020 - 2030
• Historical Data and Forecast of Russia Automotive Power Electronics Market Revenues & Volume By Device Type for the Period 2020 - 2030
• Historical Data and Forecast of Russia Automotive Power Electronics Market Revenues & Volume By Power IC for the Period 2020 - 2030
• Historical Data and Forecast of Russia Automotive Power Electronics Market Revenues & Volume By Module & Discrete for the Period 2020 - 2030
• Historical Data and Forecast of Spain Automotive Power Electronics Market Revenues & Volume By Device Type for the Period 2020 - 2030
• Historical Data and Forecast of Spain Automotive Power Electronics Market Revenues & Volume By Power IC for the Period 2020 - 2030
• Historical Data and Forecast of Spain Automotive Power Electronics Market Revenues & Volume By Module & Discrete for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Automotive Power Electronics Market Revenues & Volume By Device Type for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Automotive Power Electronics Market Revenues & Volume By Power IC for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Automotive Power Electronics Market Revenues & Volume By Module & Discrete for the Period 2020 - 2030
• Historical Data and Forecast of Europe Automotive Power Electronics Market Revenues & Volume By Component for the Period 2020 - 2030
• Historical Data and Forecast of Europe Automotive Power Electronics Market Revenues & Volume By Sensor & Microcontroller for the Period 2020 - 2030
• Historical Data and Forecast of Germany Automotive Power Electronics Market Revenues & Volume By Component for the Period 2020 - 2030
• Historical Data and Forecast of Germany Automotive Power Electronics Market Revenues & Volume By Sensor & Microcontroller for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Automotive Power Electronics Market Revenues & Volume By Component for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Automotive Power Electronics Market Revenues & Volume By Sensor & Microcontroller for the Period 2020 - 2030
• Historical Data and Forecast of France Automotive Power Electronics Market Revenues & Volume By Component for the Period 2020 - 2030
• Historical Data and Forecast of France Automotive Power Electronics Market Revenues & Volume By Sensor & Microcontroller for the Period 2020 - 2030
• Historical Data and Forecast of Italy Automotive Power Electronics Market Revenues & Volume By Component for the Period 2020 - 2030
• Historical Data and Forecast of Italy Automotive Power Electronics Market Revenues & Volume By Sensor & Microcontroller for the Period 2020 - 2030
• Historical Data and Forecast of Russia Automotive Power Electronics Market Revenues & Volume By Component for the Period 2020 - 2030
• Historical Data and Forecast of Russia Automotive Power Electronics Market Revenues & Volume By Sensor & Microcontroller for the Period 2020 - 2030
• Historical Data and Forecast of Spain Automotive Power Electronics Market Revenues & Volume By Component for the Period 2020 - 2030
• Historical Data and Forecast of Spain Automotive Power Electronics Market Revenues & Volume By Sensor & Microcontroller for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Automotive Power Electronics Market Revenues & Volume By Component for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Automotive Power Electronics Market Revenues & Volume By Sensor & Microcontroller for the Period 2020 - 2030
• Historical Data and Forecast of Europe Automotive Power Electronics Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
• Historical Data and Forecast of Europe Automotive Power Electronics Market Revenues & Volume By Passenger Vehicle for the Period 2020 - 2030
• Historical Data and Forecast of Europe Automotive Power Electronics Market Revenues & Volume By LCV & HCV for the Period 2020 - 2030
• Historical Data and Forecast of Germany Automotive Power Electronics Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
• Historical Data and Forecast of Germany Automotive Power Electronics Market Revenues & Volume By Passenger Vehicle for the Period 2020 - 2030
• Historical Data and Forecast of Germany Automotive Power Electronics Market Revenues & Volume By LCV & HCV for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Automotive Power Electronics Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Automotive Power Electronics Market Revenues & Volume By Passenger Vehicle for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Automotive Power Electronics Market Revenues & Volume By LCV & HCV for the Period 2020 - 2030
• Historical Data and Forecast of France Automotive Power Electronics Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
• Historical Data and Forecast of France Automotive Power Electronics Market Revenues & Volume By Passenger Vehicle for the Period 2020 - 2030
• Historical Data and Forecast of France Automotive Power Electronics Market Revenues & Volume By LCV & HCV for the Period 2020 - 2030
• Historical Data and Forecast of Italy Automotive Power Electronics Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
• Historical Data and Forecast of Italy Automotive Power Electronics Market Revenues & Volume By Passenger Vehicle for the Period 2020 - 2030
• Historical Data and Forecast of Italy Automotive Power Electronics Market Revenues & Volume By LCV & HCV for the Period 2020 - 2030
• Historical Data and Forecast of Russia Automotive Power Electronics Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
• Historical Data and Forecast of Russia Automotive Power Electronics Market Revenues & Volume By Passenger Vehicle for the Period 2020 - 2030
• Historical Data and Forecast of Russia Automotive Power Electronics Market Revenues & Volume By LCV & HCV for the Period 2020 - 2030
• Historical Data and Forecast of Spain Automotive Power Electronics Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
• Historical Data and Forecast of Spain Automotive Power Electronics Market Revenues & Volume By Passenger Vehicle for the Period 2020 - 2030
• Historical Data and Forecast of Spain Automotive Power Electronics Market Revenues & Volume By LCV & HCV for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Automotive Power Electronics Market Revenues & Volume By Vehicle Type for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Automotive Power Electronics Market Revenues & Volume By Passenger Vehicle for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Automotive Power Electronics Market Revenues & Volume By LCV & HCV for the Period 2020 - 2030
• Europe Automotive Power Electronics Market - Key Performance Indicators
• Europe Automotive Power Electronics Market - Import Export Trade Statistics
• Europe Automotive Power Electronics Market - Opportunity Assessment By Countries
• Europe Automotive Power Electronics Market - Opportunity Assessment By Device Type
• Europe Automotive Power Electronics Market - Opportunity Assessment By Component
• Europe Automotive Power Electronics Market - Opportunity Assessment By Vehicle Type
• Europe Automotive Power Electronics Market - Top Companies Market Share
• Europe Automotive Power Electronics Market - Top Companies Profiles
• Europe Automotive Power Electronics Market - Comparison of Players in Technical and Operating Parameters
• Europe Automotive Power Electronics Market - Strategic Recommendations

Market Covered

The market report has been segmented and sub segmented into the following categories: 

By Countries

• Germany
•  United Kingdom
•  France
• Italy
•  Russia
• Spain
•  Rest of Europe

By Device Type

• Power IC
• Module & Discrete

By Component

• Sensor
• Microcontroller

By Vehicle Type

• Passenger Vehicle
•  LCV & HCV