Market Research Report
Europe Automotive Semiconductor Market to 2027 - Regional Analysis and Forecasts by Component ; Application ; Vehicle Type
|Published by||The Insight Partners||Product code||834503|
|Published||Content info||187 Pages
Delivery time: 1-2 business days
|Europe Automotive Semiconductor Market to 2027 - Regional Analysis and Forecasts by Component ; Application ; Vehicle Type|
|Published: April 9, 2019||Content info: 187 Pages||
The Europe automotive semiconductor market accounted for US$ 9,257.4 Mn in 2017 and is expected to grow at a CAGR of 6.6% over the forecast period 2018-2027, to account for US$ 17,613.0 Mn in 2027. Factors including a continuous partnership of automotive OEMs with semiconductor manufacturers driving the Europe automotive semiconductor market. However, the adoption of advanced semiconductors increases the overall cost of the vehicle are impeding market growth. Bolstering Demand for Electric Vehicles is opportunistic for the growth of the Europe automotive semiconductor market. The automotive industry has experienced the emergence of several new carmakers over the years. The automotive OEMs are integrating their vehicle's dashboards, seats, heating systems as well as mirrors with advanced semiconductors and embedded computers, which is facilitating the semiconductor industry players to design and develop robust technologies. Semiconductors are also integrated into areas such as braking system, induction motor, and battery system among others. The growth of electric vehicle is foreseen to be exponential due to increasing concerns related to the environment and several stringent laws by Worldwide Harmonized Light Vehicles Test Procedure (WLTP). With the rising electric vehicle production, the requirement for a large number of semiconductors and other electronics is also boosting in the market. The market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the automotive semiconductor market.