Electric Vehicle PMIC Market was valued at USD 2.3 Billion in 2022 and is projected to reach USD 12.5 Billion by 2030, growing at a CAGR of 24.5% from 2024 to 2030.
In comparison, the forecasted demand for Electric Vehicle PMICs from 2023 to 2033 is expected to grow even more robustly. With global efforts to reduce carbon emissions and the expansion of EV infrastructure, the market for PMICs is projected to experience exponential growth over the next decade. Technological innovations, such as improvements in battery technology, power electronics, and semiconductor devices, will significantly increase the need for advanced PMICs that can efficiently handle larger battery capacities and increased power density. The rise in electric vehicle adoption, including both light-duty and heavy-duty vehicles, is expected to drive the demand for EV-specific PMICs, which are essential for managing energy flow between various vehicle subsystems like powertrains, infotainment systems, and charging solutions. As EV manufacturers continue to invest in more affordable and efficient electric vehicle platforms, the demand for innovative PMICs that offer energy efficiency, reliability, and integration will increase.
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The Electric Vehicle (EV) Power Management Integrated Circuit (PMIC) market has experienced remarkable growth from 2018 to 2022, with a surge in demand driven by the rapid adoption of electric vehicles worldwide. From 2018 to 2022, the demand for advanced PMICs, which are critical for efficiently managing the power needs of electric vehicles, soared due to significant technological advancements and increased investment in the EV sector. The adoption of electric vehicles grew rapidly, leading to a heightened demand for energy-efficient components like PMICs that ensure optimal battery performance, motor efficiency, and energy conversion systems in EVs. These years saw an increase in the development of both automotive and commercial electric vehicles, with major players in the automotive industry transitioning to electric platforms to meet sustainability goals. Moreover, the rise in stringent emissions regulations and government incentives for EV adoption further accelerated the adoption of PMICs in electric vehicles.
Infineon
Texas Instruments
ROHM
Renesas
MPS
STMicroelectronics
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Vehicle PMIC Market
Passenger Cars
Commercial Vehicle
Based on Types the Market is categorized into Below types that held the largest Electric Vehicle PMIC market share In 2023.
Battery Monitoring Fuel Gauge IC
Battery Charger IC
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Electric Vehicle PMIC Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electric Vehicle PMIC Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Vehicle PMIC Market, By Type
6. Global Electric Vehicle PMIC Market, By Application
7. Global Electric Vehicle PMIC Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Electric Vehicle PMIC Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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