Yole report from its latest finding that the total power electronic system market, made up of main inverters, DC/DC converters, and On-Board Chargers (OBC), will grow to US$26 billion by 2027.
Yole finds penetration of Silicon Carbide SiC MOSFET modules in main inverters has already started and will be remarkable. These modules will reach 28% CAGR2021-2027, with advantages including fast charging capability, high efficiency, and compactness at device and system levels.
Yu Yang, Ph.D., Senior Technology & Market Analyst, Power Electronics at Yole, asserts: “Xev penetration has been booming for a few years. At Yole, we expect a 21% CAGR between 2021 and 2027 for the global Xev market, accelerating across all market segments. Along with fast-growing BEV adoption, hybrid technologies will also grow substantially. Indeed, the different technologies’ penetration depends on the region.”
Silicon Carbide offers benefits such as fast charging, higher efficiency, and space saving at device and system levels.
Transiting electric motor powered drive from conventional internal combustion engines causing a whole new supply chain. The electric powertrain consisting of batteries, e-motors, inverters, and other supportive sub-systems, including OBCs, DC/DC converters, Power Distribution Units (PDUs) , and other auxiliaries. For most of the sub-systems, power electronics components are essential.
This trend creates new suppliers from outside the traditional automotives. This ‘invasion’ is more evident in emerging countries and regions, particularly China.
Other industry trends and market date shared by Yole includes:
More vehicle-making OEMs are vertically integrating. Some merge the responsibility for systems typically produced by Tier 1 component suppliers into OEMs’ in-house facilities. Some even take over device design and manufacturing, normally the realm of Tier 2 suppliers.
The main drivers of this disruptive trend are key product supply chain security and the rather high speed of innovation of BEVs, which is better supported by vertical integration.
The journey towards electrification is exciting. Yet it is still critical for all players to carefully examine their own positions and competencies and work out strategies suitable for the highly dynamic Xev business.
A strong focus is being shifted to efficiency from a holistic view, to which power electronics can greatly contribute.
Gallium Nitride (GaN) HEMT market to grow at CAGR of 100% to reach close to $ 235 million by 2027 from 4 Million in 2021.
SiC discrete device market to grow at CAGR of 50% to reach close to $ 224 Million by 2027 from 20 Million in 2021.
SiC Module market to grow at CAGR of 38% to reach close to $ 4.4 Billion by 2027 from 632 Million 2021.
Silicon Mosfet market to grow at CAGR of 20% to reach close to $ 1 Billion by 2027 from 336 Million in 2021.
IGBT Module market to grow at CAGR of 20% to reach close to $ 3.5 Billion by 2027 from close to 1.2 Billion in 2021.
IGBT Discrete market to grow at CAGR of 16% to reach close to $ 6 million by 2027 from close to 3 Million in 2021.
Below charts provide some more analysis data: