The report breaks down the market by the various types of electric drivetrain concepts (battery electric, hybrid electric and plug-in hybrids), vehicle types (passenger cars and commercial vehicles) and applications (powertrain and chassis, body electronics, safety and security systems, infotainment & telematics). Overall, the market is expected to expand at a rapid pace of 19 percent through 2025, in which year the market researchers a volume of $22.7 billion globally.
In terms of revenue, North America dominated the automotive power electronics market in 2016, with majority share. The U.S. spends substantially in battery operated electric vehicles and this fosters adoption of automotive power electronics in this region. Extensive R&D activities in electric vehicles broadens the scope of automotive power electronics market. Asia Pacific is anticipated to witness relatively fast adoption of technologically advanced electric vehicle with the convergence of the automotive sector, the ICT sector and the transportation sector over the forecast period. In Asia Pacific, countries such as China, Japan and Australia are anticipated to drive growth of automotive power electronics market.