How are Novel Growth Prospects Transforming the Global EV Semiconductor Industry?
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.
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