Global Electric Vehicle Semiconductor Growth Opportunities

Description

Future Growth Potential Enhanced by Vehicle Autonomy and Electrification, Stringent Emission Regulations and the Fleet Electrification Milestones of Automakers

The global electric vehicle (EV) semiconductor market is estimated to experience an approximate 32.1% compound annual growth rate (CAGR) from 2021 to 2026. Semiconductors contribute to making EVs efficient, interactive, and safe, supporting various in-vehicle interactivity features, vehicle firmware, and EV batteries and powertrains. The need for longer driving range and faster charging times in EVs has led to the usage of advanced semiconductor technologies, such as silicon carbide (SiC) and gallium nitride (GaN).

With 2021 as the base year, the study provides market size estimates and growth prospects up to 2026. Revenue forecast, pricing trends, competitive analysis, COVID-19 impact discussion, and company profiles of leading manufacturers are included in the study, which follows a specific methodology comprising discussions with senior management of EV semiconductor manufacturers and automotive original equipment manufacturers supported by secondary research.

Research Scope:

The scope of this Frost & Sullivan study is limited to semiconductors used in battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) and excludes aftermarket and semiconductors used in EV supply equipment. The study's main objective is to identify key growth opportunities, drivers, and restraints in the EV semiconductor market. The study includes in-depth market analyses for the forecast period of 2022 to 2026 by vehicle type (BEV and PHEV), component (analog, memory, discrete, logic, and others), application (powertrain, chassis and safety, infotainment and telematics, body and convenience, and advanced driver-assistance systems [ADAS]), and geography (Europe, Middle East, and Africa [EMEA]; Asia-Pacific; and the Americas).

Research Highlights:

Stringent emission regulations, government support, push toward ADAS and vehicle autonomy, miniaturization trend, aggressive EV launches, and the fleet electrification targets of automotive manufacturers would drive the need for efficient and robust semiconductors in EVs.

The post-pandemic chip shortage crisis, increasing competitive intensity, inadequate EV supporting infrastructure, and geopolitical tensions are expected growth restraints to the market during the forecast period.

Robust industry collaborations, microelectromechanical systems (MEMS) technology, adoption of compound semiconductors such as SiC and GaN, and localization of chip manufacturing are future growth opportunities for semiconductor vendors in the market.

EMEA led the market by revenue in 2021 and is forecast to witness a CAGR of 26.7% between 2021 and 2026. However, Asia-Pacific is predicted to be the fastest-growing region with a 37.1% CAGR, regaining its market dominance in the forecast period.

The EV semiconductor market generated $5,428.6 million in revenue in 2021, with a base year growth rate of 99.8%. BEVs are expected to remain the dominant vehicle type segment with a 33.1% CAGR between 2021 and 2026. By component, discrete would be the fastest-growing segment with a projected CAGR of 32.7%. The powertrain segment would continue to dominate the market by application, but ADAS is estimated to witness the highest growth at 38.9% CAGR between 2021 and 2026.

Product Code: K725-30

Strategic Imperatives

Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Electric Vehicle Semiconductor Industry
Growth Opportunities Fuel the Growth Pipeline Engine™

Growth Opportunity Analysis

Scope of Analysis
Market Segmentation by Region
Market Segmentation by Vehicle Type
Market Segmentation by Component
Market Segmentation by Application
Key Competitors
Key Growth Metrics
Distribution Channel
Growth Drivers
Growth Driver Analysis
Growth Driver Analysis (continued)
Growth Driver Analysis (continued)
Growth Driver Analysis (continued)
Growth Driver Analysis (continued)
Growth Driver Analysis (continued)
Growth Driver Analysis (continued)
Growth Restraints
Growth Restraint Analysis
Growth Restraint Analysis (continued)
Growth Restraint Analysis (continued)
Growth Restraint Analysis (continued)
Growth Restraint Analysis (continued)
Forecast Assumptions
Revenue Forecast
Revenue Forecast Analysis
Revenue Forecast Analysis (continued)
Revenue Forecast by Vehicle Type
Revenue Forecast Analysis by Vehicle Type
Revenue Forecast Analysis by Vehicle Type (continued)
Revenue Forecast by Component
Revenue Forecast Analysis by Component
Revenue Forecast Analysis by Component (continued)
Revenue Forecast Analysis by Component (continued)
Revenue Forecast Analysis by Component (continued)
Revenue Forecast Analysis by Component (continued)
Revenue Forecast by Application
Revenue Forecast Analysis by Application
Revenue Forecast Analysis by Application (continued)
Revenue Forecast Analysis by Application (continued)
Revenue Forecast Analysis by Application (continued)
Revenue Forecast Analysis by Application (continued)
Revenue Forecast Analysis by Application (continued)
Comparison between SiC and Si in EV Powertrains
Revenue Forecast by Region
Revenue Forecast Analysis by Region
Pricing Trends and Forecast Analysis
Pricing Trends and Forecast Analysis (continued)
Competitive Environment
Revenue Share
Revenue Share Analysis
Revenue Share Analysis (continued)
Company Profile-Infineon Technologies
Company Profile-STMicroelectronics
Company Profile-NXP Semiconductors
Company Profile-Texas Instruments
Company Profile-Renesas Electronics
Top 5 Participants-SWOT Analysis
Top 5 Participants-SWOT Analysis (continued)
Top 5 Participants-SWOT Analysis (continued)
Top 5 Participants-Product and Application Highlights
Competition Analysis
Competition Analysis (continued)

Growth Opportunity Analysis-EMEA

Key Growth Metrics for EMEA
Revenue Forecast-EMEA
Revenue Forecast Analysis-EMEA
Revenue Forecast Analysis-EMEA (continued)
Revenue Forecast by Vehicle Type-EMEA
Revenue Forecast Analysis by Vehicle Type-EMEA
Revenue Forecast by Component-EMEA
Revenue Forecast by Application-EMEA
Competitive Environment-EMEA

Growth Opportunity Analysis-APAC

Key Growth Metrics for APAC
Revenue Forecast-APAC
Revenue Forecast Analysis-APAC
Revenue Forecast Analysis-APAC (continued)
Revenue Forecast by Vehicle Type-APAC
Revenue Forecast Analysis by Vehicle Type-APAC
Revenue Forecast by Component-APAC
Revenue Forecast by Application-APAC
Competitive Environment-APAC

Growth Opportunity Analysis-Americas

Key Growth Metrics for the Americas
Revenue Forecast-Americas
Revenue Forecast Analysis-Americas
Revenue Forecast Analysis-Americas (continued)
Revenue Forecast by Vehicle Type-Americas
Revenue Forecast Analysis by Vehicle Type-Americas
Revenue Forecast by Component-Americas
Revenue Forecast by Application-Americas
Competitive Environment-Americas

Growth Opportunity Universe

Growth Opportunity 1: Robust Industry Collaborations for Efficient Demand Management Optimization
Growth Opportunity 1: Robust Industry Collaborations for Efficient Demand Management Optimization (continued)
Growth Opportunity 2: MEMS Technology to Aid Safety Parameters in EVs
Growth Opportunity 2: MEMS Technology to Aid Safety Parameters in EVs (continued)
Growth Opportunity 3: Adoption of Compound Semiconductors for EVs with High Energy Density and Longer Driving Range
Growth Opportunity 3: Adoption of Compound Semiconductors for EVs with High Energy Density and Longer Driving Range (continued)
Growth Opportunity 4: Localization of Chip Manufacturing for a Risk-Free Supply Chain
Growth Opportunity 4: Localization of Chip Manufacturing for a Risk-Free Supply Chain (continued)

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