Semiconductor Devices for Electric Vehicle Market Size, Share and Growth Projections

Semiconductor Devices in Electric Vehicles Market Playbook, Growth Opportunities & Trends

The semiconductor devices for electric vehicle market is set to grow from USD 13.47 billion in 2025 to USD 44.08 billion by 2034, with an expected CAGR of 14.08% over the forecast period from 2025 to 2034.

Unlock Infinite Advantages: Subscribe to Annual Membership

Introduction

The semiconductor devices for electric vehicle market is a crucial branch of the automotive industry. This market deals in manufacturing and development of semiconductor devices for electric vehicles. There are several types of devices manufactured in this sector consisting of power semiconductor devices, analog semiconductor devices, digital semiconductor devices, MEMS sensors, microcontrollers and some others. It finds various application in powertrain, battery management systems, infotainment systems, driver assistance systems, body control systems and some others. This sector uses different types of semiconductors consisting of silicon, silicon carbide, gallium nitride, mixed-signal technology and analog technology. The growing development in the semiconductor industry has boosted the industrial expansion. This market is expected to rise significantly with the growth of the electric vehicles industry around the globe.

• According to the World Semiconductor Trade Statistics, the global semiconductor industry size in 2024 was US$ 626869 million in 2024 that is expected to reach US$ 697184 million in 2025.

Highlights of the Semiconductor Devices for Electric Vehicle Market

• Asia Pacific held the largest share of the semiconductor devices for electric vehicle market due to the growing investment in EV industry across this region.
• North America is expected to grow with a significant CAGR due to the presence of several EV companies in this region.
• The power semiconductor devices segment held the highest share of the market due to its ability to manage and convert electric power used for EVs.
• The silicon segment led the industry due to its affordability and conductivity. 

Key Metrics and Overview

Semiconductor Devices for Electric Vehicle: Stats and Figures

• According to the Semiconductor Industry Association, the global semiconductor sales reached US$ 57.8 billion during November 2024.
• According to the SEMI, the global semiconductor manufacturing equipment by original equipment manufacturers (OEMs) was expected to reach US$113 billion in 2024
• According to the IEA, around 9500000 BEVs were sold globally in 2023.
• According to the Society of Manufacturers of Electric Vehicles (SMEV), around 49306 electric vehicles were sold in India during the 1st quarter of 2025.

Industry Leader Announcement

In September 2024, Steven Reiter, the Corporate Vice President and business unit head of Plasma and Epi at ASM made an announcement stating that,” We are at a critical inflection for silicon carbide power products, as our customers transition from 6” to 8” wafers, delivering a high-quality epitaxy process on larger wafers with defectivity control is critical, and we have been the industry benchmark for process uniformity with our novel chamber design. We have now extended our system capability to improve our process control and our value for customers with lower cost of ownership.”

Geographical Insights

Asia Pacific held the highest share of the semiconductor devices for electric vehicle market. The rising demand for electric vehicles in China and India has boosted the industrial expansion. Also, the government emphasis on adopting electric vehicles along with the presence of several EV manufacturers is contributing to the market growth. Moreover, the availability of semiconductors brands in various countries such as Taiwan, China, South Korea and some others has driven the market expansion.

Competitive Landscape

The semiconductor devices for electric vehicle market is a highly fragmented industry with the presence of several dominating players. Some of the crucial players in this industry consists of Renesas Electronics, Microchip Technology, Texas Instruments, Infineon Technologies, Semtech, ON Semiconductor, Vishay Intertechnology, Broadcom, NXP Semiconductors, Luxshare Precision, Qualcomm, Robert Bosch, STMicroelectronics, Analog Devices, NVIDIA and some others. These companies are constantly engaged in semiconductor devices for EVs and adopting numerous strategies to maintain their dominant position in this industry.

• According to the annual report of Infineon, the revenue of the automotive segment in 2023 was 8242 million euros that increased to 8423 million euros in 2024.

Market Segmentations

By Application

• Powertrain
• Battery Management Systems
• Infotainment Systems
• Driver Assistance Systems
• Body Control Systems

By Device Type

• Power Semiconductor Devices
• Analog Semiconductor Devices
• Digital Semiconductor Devices
• MEMS Sensors
• Microcontrollers

By Packaging Type

• Surface Mount Technology
• Through-Hole Technology
• Chip-on-Board
• Ball Grid Array
• Dual In-line Package

By Technology

• Silicon
• Silicon Carbide
• Gallium Nitride
• Mixed-Signal Technology
• Analog Technology

By Regional

• North America
• Europe
• South America
• Asia Pacific
• Middle East and Africa