Automotive Powertrain Electronics Market to Expand at a CAGR of ~7% | ~ USD 105 Billion

Automotive powertrain electronics market is estimated to garner a revenue of ~USD 105 billion by the end of 2033

NEW YORK, NEW YORK, UNITED STATE, January 27, 2023 /EINPresswire.com/ -- Global Automotive Powertrain Electronics Market Key Insights

During the forecast period of 2023-2033, the global automotive powertrain electronics market is expected to reach an estimated value of ~USD 105 billion by 2033 by expanding at a CAGR of ~7%. The market further generated a revenue of ~USD 55 billion in the year 2022. Major key factors propelling the growth of the automotive powertrain electronics market worldwide are the increasing demand for automotive powertrain electronics and rising research and development.

Market Definition of Automotive Powertrain Electronics

Automotive alternators benefit from high power, high power density, enhanced efficiency, and high-temperature resistance thanks to powertrain electronics in the vehicle’s power generation system. Converters, electric motors, inverters, battery management systems, and others are some of their essential parts. Automotive electronics refers to all electronic components that are utilized in cars, such as the radio, car computers, telematics, in-car entertainment systems, and engine control. Trucks, motorbikes, off-road vehicles, and other internal combustion-powered equipment like forklifts, tractors, and excavators also have ignition, engine, and transmission electronics. Electric and hybrid vehicles both have similar components for controlling pertinent electrical systems.

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Global Automotive Powertrain Electronics Market: Growth Drivers

The market’s expansion can be attributed to an increase in the demand for automotive electronic components as well as an increase in the number of cars on the road globally. For instance, it is predicted that by 2030, electronics would make up nearly 50% of the price of a new car. Further, the demand for automotive powertrain electronics is increasing among manufacturers as a result of recent improvements in engine cooling systems and powertrain designs, which is expected to result in a significant increase in revenue generation opportunities for the key players operating in the global automotive powertrain electronics market during the forecast period. It has been noted that an automobile’s engine cooling system is essential since around 40% of the heat produced while an engine is operating flees through friction and exhaust losses, 25% is used to generate power, and the remaining 30–35% is transferred to engine parts.

The global automotive powertrain electronics market is also estimated to grow majorly on account of the following:

Increasing trend of autonomous vehicles
Growing vehicle fleet
Rising carbon dioxide regulation
High investment in research and development
Increasing investment in technology and innovation
Global Automotive Powertrain Electronics Market: Restraining Factor

Shortage of raw materials, especially chips is hindering the production of automobiles and the pandemic has added on to the disruption of the supply chain. Hence this factor is expected to be the major hindrance for the growth of the global automotive powertrain electronics market during the forecast period.

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Global Automotive Powertrain Electronics Market Segmentation

By Vehicle Type (Passenger Cars and Commercial Vehicles)
The passenger cars segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to the increasing demand for passenger vehicles and a rise in their global production. For example, in 2021, about 55 million passenger cars were created globally. In addition to this, the growing investment by key market players into the development of the latest technology is predicted to drive market growth.

By Component Type (Converters, Electric Motor, Inverter, Battery Management Systems, On-board Chargers, and Cell Module Controllers)
By Region
The Asia Pacific automotive powertrain electronics market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. The robust auto industry in the area, the rising popularity of electric cars (EV), and the rising need for EV batteries are all factors contributing to the market’s expansion. According to the research, China produced almost 70% of all battery cells for EV batteries as of 2022. Moreover, the presence of key market players in the region is predicted to boost market growth.

The market research report on global automotive powertrain electronics also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Key Market Players Featured in the Global Automotive Powertrain Electronics Market

Some of the key players of the global automotive powertrain electronics market are Schaeffler Group, AVL List GmbH, SEG Automotive Germany GmbH, Robert Bosch GmbH, Mitsubishi Electric Corporation, Infineon Technologies AG, NXP Semiconductors N.V., Texas Instruments Incorporated, Renesas Electronics Corporation, STMicroelectronics International N.V., and others.

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