Market Research Report
China New Energy Vehicle Power Electronics Industry Report, 2021
|China New Energy Vehicle Power Electronics Industry Report, 2021|
Published: June 23, 2021
Content info: 270 Pages
Delivery time: 1-2 business days
As the electric vehicle market is developing rapidly, new energy vehicle power electronics see a lucrative development opportunity
According to EV Sales, the global electric vehicle sales volume soared by 249% year-on-year to 392,000 units in April 2021. As the electric vehicle market is developing rapidly, new energy vehicle power electronics see a lucrative development opportunity. New energy vehicle power electronics generally include motor controllers (including inverters) and automotive power supplies (automotive chargers and DC/DC).
Benefiting from the rapid development of China's local new energy vehicle brands, Chinese local motor controller vendors led by BYD have obvious advantages in the motor controller market. In 2020, BYD still ranked first with a market share of 13.6%; among the top 10 companies, 7 are Chinese local vendors, except two foreign companies Tesla and Nidec as well as UAES, a Sino-foreign joint venture.
Motor controllers gradually develop from a single function to multi-functional integration, and the integration of motors and electronic control has become a major trend, among which three-in-one electric drive system will become the mainstream. In 2020, China's passenger car three-in-one electric drive system shipments exceeded 500,000 sets, accounting for about 37% of motor controller shipments.
At present, most companies still focus on two-in-one electric drive system, and companies including Bosch, BYD, Inovance, and JJE have launched three-in-one electric drive system. In 2020, Tesla, BYD, XPT and Nidec together accounted for 82.1% of the total sales volume.
The DriveONE three-in-one electric drive system launched by Huawei has the peak power density of 3kW/kg, marking the highest level in the industry, higher than Bosch eAxle which boasts 1.67 kW/kg. In the future, with the efforts of local vendors represented by Huawei and BYD, the gap between local companies and international vendors will gradually narrow.
Huawei's DriveONE Three-in-one Electric Drive System
As the core components of motor controllers, IGBT modules account for about 45% of the total cost. In 2020, the global new energy vehicle IGBT module market valued approximately USD850 million. However, high-priced automotive IGBT modules have severely compressed the profit margins of electronic control companies and even automakers.
Compared with silicon-based IGBT power devices, SiC power devices feature advantages such as smaller size, lower weight, higher power density, longer cruising range, less controller loss, better thermal conductivity, and higher temperature resistance. Therefore, vendors represented by Delphi and BYD have begun to deploy SiC motor controllers which are expected to replace IGBTs in the future.
In Chinese new energy vehicle power supply market, there are mainly four types of players:
Foreign-funded companies mainly target joint venture automakers, while local companies support independent brands. Thanks to the relatively higher sales volume of local new energy vehicles, local companies have a certain advantage in the automotive power supply market. In 2020, there were 6 local companies among the top 10 companies in Chinese new energy vehicle charger OBC market, with the combined market share of 66%.
At present, automotive power supply products are mainly developing towards integration, high power, and bidirectional style.