Us Automotive Power System Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Automotive Power System Market was valued at USD 22 Billion in 2022 and is projected to reach USD 41 Billion by 2030, growing at a CAGR of 8.3% from 2024 to 2030.
The U.S. automotive power system market is undergoing a significant transformation, driven by technological advancements, strategic investments, and evolving consumer preferences. In 2024, the global automotive power system market was valued at approximately $22 billion, with projections estimating it will reach $32 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.9% during this period.
One of the primary catalysts for this growth is the increasing electrification of vehicles. Major automakers are intensifying their efforts to develop electric vehicles (EVs) and hybrid electric vehicles (HEVs). For instance, General Motors (GM) has made substantial strides in this arena, aiming to challenge Tesla's market share by reducing battery costs and expanding its EV lineup. Notably, GM's market share in the U.S. increased from 6% to 9%, while Tesla's share declined to 49%.
Strategic investments in semiconductor manufacturing are also bolstering the market. The U.S. Commerce Department's preliminary agreement to grant up to $225 million to Bosch for producing silicon carbide (SiC) power semiconductors in California exemplifies this trend. This initiative is part of a broader $1.9 billion investment to enhance domestic SiC production, which is crucial for EV efficiency and performance.
Despite these advancements, challenges persist. The U.S. Department of Homeland Security has expressed concerns about the nation's reliance on Chinese lithium batteries, highlighting potential economic and cybersecurity risks. This dependency underscores the need for a robust domestic supply chain to ensure the security and sustainability of the automotive power system market.
Regional disparities in EV infrastructure further complicate the landscape. While states like Delaware have made significant progress, rural areas such as Alaska and Idaho lag in EV infrastructure readiness. Bridging this urban-rural divide is essential for widespread EV adoption and market growth.
Technological innovation remains a cornerstone of market dynamics. Companies like Nvidia are leveraging their expertise in graphics and artificial intelligence to develop advanced automotive semiconductors, enhancing vehicle performance and safety. The automotive semiconductor market is poised for expansion, with the value of chips in cars expected to rise to $1,400 by 2028.
In summary, the U.S. automotive power system market is at a pivotal juncture, characterized by rapid growth and innovation. While opportunities abound, addressing supply chain vulnerabilities and infrastructure disparities is crucial for sustained advancement. Stakeholders must navigate these challenges to capitalize on the evolving market landscape and drive future success.
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ABB
Siemens
Emerson
Delta (Eltek)
Jenoptik
Atlas Marine Systems
Thales Group
Lite-On Technology
Acbel Polytech
Salcomp
Fischer Panda
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 Automotive Power System Market
Conventional Internal Combustion Engines (ICE)
Hybrid Electric Vehicles (HEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Battery Electric Vehicles (BEVs)
Fuel Cell Electric Vehicles (FCEVs)
Passenger Cars
Commercial Vehicles
Two-Wheelers
Light Trucks
Heavy Trucks
Battery Systems
Charging Infrastructure
Electric Motors
Power Electronics
Thermal Management Systems
Conventional Technology
Advanced Driver Assistance Systems (ADAS)
Vehicle-to-Everything (V2X) Communication
Autonomous Driving Technology
Smart Grid Integration
Personal Use
Fleet Management
Ride-Sharing Services
Public Transportation
Logistics and Delivery
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 Automotive Power System 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 Automotive Power System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Power System Market, By Type
6. Global Automotive Power System Market, By Application
7. Global Automotive Power System Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Automotive Power System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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