Automotive Power Electronics Market : Analysis and Growth Forecast by 2031
United States of America, July 16, 2025 – The global automotive power electronics market is witnessing dynamic growth driven by the increasing adoption of electric vehicles (EVs), hybrid electric vehicles (HEVs), and advanced driver-assistance systems (ADAS). Power electronics play a critical role in managing electrical energy efficiently in vehicles, Body Electronics enhancing performance, safety, and energy consumption. According to market analysts, the automotive power electronics market is expected to register a CAGR of 5.3% during 2023–2031 . The evolution of advanced technologies and the growing introduction of high-end electric vehicles will likely remain a key trend fueling the market’s expansion. Market Drivers Surge in Electric and Hybrid Vehicles The transition from internal combustion engines to electric powertrains is boosting demand for power electronics components such as inverters, converters, and onboard chargers. S...