07 Jun 2022 -

EV power electronics market set for 21% annual growth by 2027

The total EV power electronic system market, made up of main inverters, DC/DC, and OBC, will grow to $26 billion by 2027, researchers Yole Developpement tells Electronics Weekly.

“We expect a 21% CAGR between 2021 and 2027 for the global xEV market, accelerating across all market segments,” says Yole’s Yu Yang, “along with fast-growing BEV adoption, hybrid technologies will also grow substantially. Indeed, the different technologies’ penetration depends on the region.”

The power electronics market is strongly boosted by applications such as inverters, OBC, and DC to DC converters, reports EW.

“The penetration of SiC MOSFET modules in main inverters has already started and will be remarkable,” says Yole. “These modules will reach 28% CAGR2021-2027, with advantages including fast charging capability, high efficiency, and compactness at device and system levels.”

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