Dec 13, 2017   SOURCE: BusinessWire

Top 3 Drivers for the Global Electric Vehicle Power Electronics Market | Technavio

Technavio market research analysts forecast the global electric vehicle power electronics market to grow at a CAGR of close to 19% during the forecast period, according to their latest report.

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Technavio has published a new market research report on the global electric vehicle power electronic ...

Technavio has published a new market research report on the global electric vehicle power electronics market 2017-2021 under their automotive library. (Graphic: Business Wire)

The report further segments the global electric vehicle power electronics market by vehicle type (commercial electric vehicles (EVs) and passenger electric vehicles (EVs)) and by geography (APAC, North America, and Europe).

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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global electric vehicle power electronics market:

  • Rising focus on thermal issue management
  • Growing adoption of DC-DC converters in EVs
  • Growing developments in power devices of EVs

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Rising focus on thermal issue management

Power electronics application is increasing in EVs along with components such as MOSFETs and IGBTs. Basically, power electronics applications have two major objectives, reducing the system size and managing thermal issues. The adoption of wide bandgap (WBG) semiconductors is increasing due to the high-operating temperature capability. Thermal issue management is expected to be a major cost driver for EVs as heavy-duty vehicles will demand inverters specific to them, which will increase the need for more thermal management for long-term fail-safe operation.

According to Keerthi Balu, a lead analyst at Technavio for automotive electronics research, “The power module, which is one of the crucial components of the EV drivetrain, is witnessing development in the form of reduced size. The size of the power module is defined by the power consumption of the power chip and ability to cool these chips for staying below the maximum junction temperature. The latest development in the form of overmolded double-sided cooled module gave better thermal management.”

Growing adoption of DC-DC converters in EVs

EVs form the critical segment of the automotive electronics market and several automotive electronics technologies are popularly applied in various EV applications. In EVs, the electronic application is not only restricted to traction but also expanded to generating new applications for electric power conversion. One such development in automotive electronics is DC-DC converters that are being adopted for various applications in modern EVs.

For instance, modern EV has about nine applications of DC-DC converters. DC-DC converters used in EVs can handle the energy transfer from the 12V DC bus and the high voltage DC bus. The demand for high mile range and reduced pollution is pushing the adoption of power electronic converters and new semiconductor devices in EVs.

Growing developments in power devices of EVs

Power devices form the crucial part of the global EV power electronics market. The increasing number of power devices in EVs can be seen from the fact that BMW i3 has more than 100 power related chips. The global automotive power devices market has a high presence of prominent vendors such as Infineon Technologies, STMicroelectronics, and NXP Semiconductors that leads to continuous developments in the technology adopted.

“Insulated-gate bipolar transistors accounted for the largest segment of the electric vehicle power devices market. IGBT is an ideal motor inverter switch for 20-120KW electric vehicle motors because of its high efficiency and fast switching. IGBT and MOSFET are used for most of the power devices requirement in electric vehicles. For instance, MOSFET is used for DC-DC converters and battery chargers while IGBT is used in inverters, generators, and battery chargers,” says Keerthi.

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