March 2025
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.
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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.
Market Size in 2024 | USD 11.81 Billion |
Projected Market Size in 2034 | USD 44.08 Billion |
CAGR (2025- 2034) | 14.08 |
Leading Region | Asia Pacific |
Market Segmentation | By Application, By Device Type, By Packaging Type, By Technology and By Regional |
Top Key Players | Microchip Technology, Texas Instruments, Infineon Technologies, Semtech, ON Semiconductor |
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.”
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.
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.
By Application
By Device Type
By Packaging Type
By Technology
By Regional
March 2025
March 2025
March 2025
March 2025
Dr. Arjun Patel is a distinguished expert in the automotive industry, holding advanced degrees in Automotive Engineering and Mechanical Engineering. His expertise spans automotive market dynamics, technological advancements, and sustainable practices. Dr. Patel excels in conducting in depth research and analysis on market trends, consumer preferences, and the economic implications within the automotive sector. He is renowned for his insightful publications on topics such as electric vehicles, autonomous driving technologies, and the evolution of sustainable transportation solutions. Dr. Patels research contributions have significantly advanced understanding in the field, earning him recognition as a leading authority in automotive research and analysis.
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