Automotive power device market projected to reach $9.987 billion by 2026

The global automotive power device market is projected to grow significantly, reaching approximately $9.987 billion by 2026 and an estimated $16.429 billion by 2032. This growth is driven by the increasing adoption of electric vehicles (EVs) and hybrid vehicles, alongside the trend toward higher voltage architectures in automotive electronics.

Technological shifts are moving from 400V to 800V power architectures, which reduce charging losses and cable weight. This transition is boosting demand for high-voltage devices. While silicon MOSFETs and IGBTs remain important for low-voltage body controls and cost-sensitive applications, Silicon Carbide (SiC) MOSFETs are seeing expanded use in high-voltage, high-efficiency components like traction inverters, onboard chargers (OBC), and DC-DC converters. Gallium Nitride (GaN) is also emerging for applications requiring high power density.

Competition in the sector is shifting from simple efficiency to enhanced reliability, focusing on thermal resistance, junction temperature, and automotive quality standards. Key industry players include Infineon, STMicroelectronics, onsemi, ROHM, Mitsubishi Electric, Fuji Electric, Toshiba, Bosch, and Wolfspeed, alongside various Chinese manufacturers.