Automotive Powertrain and Electrification 2025 - Vol 2 - Focus on Power Electronics

Report objectives

The main objectives of this report are as follows:

• Provide an overview of the primary global drivers for vehicle electrification as well as drivers for each vehicle electrification approach.
• Furnish an analysis of each vehicle electrification approach, along with 2020-2030 market data for power discrete devices and power modules (in $) and semiconductor wafers (in units).
• Give an overview of the xEV supply chain with a focus on manufacturers of semiconductor wafers (Si and SiC wafers), manufacturers of power devices, and device packaging companies.
• Analyze the latest trends in companies’ business strategies.
• Review the latest partnerships, mergers, and acquisitions.
• Give a global overview of technology trends for different power electronic devices and wafers.
  
  

Key Features 

• 2025-2030 forecast for Silicon, SiC, and GaN devices for xEV by packaging type 2025-2030 forecast for silicon and SiC wafers Market trends for xEVs Overview of the supply chain, including power device manufacturers, packagers, and passive component suppliers. Analysis of the latest trends in companies’ business strategies. Overview of main technology trends in wafers, devices and packaging.

• 2025-2030 forecast for Silicon, SiC, and GaN devices for xEV by packaging type
• 2025-2030 forecast for silicon and SiC wafers
• Market trends for xEVs
• Overview of the supply chain, including  power device manufacturers, packagers, and passive component suppliers.
• Analysis of the latest trends in companies’ business strategies.
• Overview of main technology trends in wafers, devices and packaging

What’s new?

The report Automotive Powertrain and Electrification 2025 - Vol 2 - Focus on Power Electronics provides in-depth analyses of the semiconductor wafers and power devices used in xEVs, related technology trends, and the supply chain.

For more information about xEVs and the xEV converter market, the supply chain, and technology trends, please refer to Vol 1 of the Automotive Powertrain and Electrification 2025 report.

New topics covered in this edition:

• Analysis of BEV demand slowdown and SiC device overcapacity impacts on power device market for xEVs
• Power module types with examples of companies involved
• Trends towards higher voltage
• Focus on SiC-MOSFET/Silicon-IGBT solution
• 1,000V car platform from BYD
• Silicon-IGBT vs SiC-MOSFET vs GaN device design wins
  

Power device market for xEV will grow to almost $15B by 2030

Despite ongoing challenges in the xEV industry, the market is poised to grow, driven by long-term sustainability and electrification trends. However, after a period of rapid enthusiasm around full electrification, the xEV market is entering a more complex phase marked by strategic recalibration, especially among legacy automakers shifting focus back to hybrids and plug-in hybrids.
The power device market for xEVs will grow to almost $15B in 2030. The main inverter is the largest market segment, accounting for 84% of the total device market in 2024.
IGBT power modules will be the largest power device market, followed by SiC MOSFET modules. GaN devices will remain a relatively small xEV market segment.
Si-IGBT remains the dominant device in xEV main inverters, while the share of SiC-MOSFET is rapidly growing, especially in the BEV segment, in 800V vehicles, and in high-power vehicles, with power converters over 150 kW.
The continuous increase in 800V and the arrival of 1,000V battery electric vehicles result in a corresponding rise in market value for devices with voltages of 1.2 kV and higher.

xEV power device supply chain is restructuring under intense pressure from Chinese players

The power electronics supply chain for xEVs is undergoing a profound transformation driven by technological innovation, shifting market demands, and geopolitical shifts. The slowdown in battery electric vehicle market expansion hasn’t equated to a decline – just a more competitive and selective landscape. In 2024 and the first half of 2025, market dynamics have varied widely across companies: some, such as Tesla, stagnated, negatively affecting suppliers like STMicroelectronics and onsemi, while others, including some power device suppliers like Infineon, Bosch, and UNT, grew.
Most Western OEMs continue to rely on traditional supplier networks and have shown limited initiative in semiconductor device development. In contrast, Chinese OEMs are rapidly scaling up capabilities, supported by strong government backing, robust domestic demand, and control over raw materials. Although bare die availability remains a challenge, Chinese manufacturers are advancing rapidly, often surpassing Western firms in their adoption of new technologies.
As the xEV industry matures, the supply chain strategy is also shifting. Partnerships and M&As once focused on securing access to SiC wafers and devices. Now, the emphasis is on ensuring future viability, aligning with partners likely to endure market volatility.

High-voltage EV systems drive power electronics evolution, with SiC leading the charge.

The xEV power electronics landscape is undergoing a significant evolution driven by both technological innovation and market dynamics. Central to this shift is the growing adoption of high-voltage platforms, especially 800V and recently introduced 1,000V architectures. Together, 800V and 1,000V platforms are expected to power one out of every three BEVs by 2030.
The move to higher-voltage platforms is paralleled by innovations in power device voltage ratings across vehicle systems. Voltage trends are shifting upward: from 40V to 80–150V for low-voltage devices, from 650V to 750V or even 1.2kV (for 800V battery vehicles) and beyond in main inverters.
BEVs remain the largest and fastest-growing segment for SiC, especially in traction inverters. This shift is driving a growing preference for SiC over silicon IGBTs in high-voltage systems, even as combinations of 400V/800V with IGBT/SiC continue to coexist in the market.

xEV classification and terms used in this report

Report objectives

Report scope

Methodology and definitions

About the authors

Companies cited in this report

What we got right, what we got wrong

Three-page summary

Executive summary

Context

2020–2030 market data

• 2020–2030 xEV market in vehicle units

• Power converter market for xEV in $M in 2024 and in 2030

• 2020–2030 power device market value in $ million for xEV

– by converter type (main inverter, OBC, DC-DC)

– by package type (discrete, modules)

– by device type

– by device semiconductor type (Si, SiC, GaN)

– by device voltage class

• Traction inverter focus of power electronics companies

• Power device market in $ million for xEV main inverters

• Silicon wafer market for xEV power devices in kunits/y

• SiC wafer demand in kWafers/year for xEV

• Silicon wafer market in units for GaN-on-silicon devices for xEV

• 2020–2030 power module packaging components market in $M by packaging component type

• Power module packaging component market evolution, by packaging solution

Market trends

• Different periods of vehicle electrification

• Main issues that dissuade customers from buying a full-electric vehicle

• The “chasm” of BEV adoption

Supply chain

• Supply chain overview (from wafer to vehicle)

• Automotive-grade discrete device manufacturers – geographic location

• Supply chain for Si IGBT-based inverter

• Supply chain SiC MOSFET-based inverter

• Main GaN device players – geographic regions

• xEV power module manufacturers – geographic location

• Worldwide locations of power module packaging facilities

• Many players interested in power module business

• Power module standardization trend and its impact on the supply chain

• OEMs’ and system suppliers’ involvement in power module packaging

• Power module manufacturers and their module designs

• How Chinese OEMs are outpacing global rivals

• The share of Chinese power device makers is poised to grow

• How to compete with Chinese xEV manufacturers?

• How to get access to Chinese customers?

Technology trends

• Impact of xEV system trends on power device technology choice

• Move toward higher battery voltages and impact on device voltage choice

• 4 voltage classes, of it 400V is mainstream, 800V is growing and 1,000V emerging

• 1,000V EV platform and related power devices

• 48V powernet

• Silicon vs SiC and GaN technologies

• Mix of SiC and Si IGBT

• GaN benefits in onboard chargers

• xEV power device packaging trends

• Technology trends in passive components

• Trend toward lower stray inductance modules

Conclusion

Outlook

AAM, ABB, ASE, BMW, BorgWarner, Bosch, BrightDrop, BYD, BYD Semiconductor, Cambridge GaN Devices, Chang’an, Coherent, CR Micro, CRRC, Denso, Dongfeng, EPC, FLH, Fuji Electric, GlobalWafers, Heraeus, Hitachi, Hofer, Huawei, Hyundai, Infineon, Innoscience, Inovance, Jaguar Land Rover, KCC, Leadrive, Leapers Semiconductor, LG Electronics, Li Auto, MacDermid Alpha, Navitas, NGK Insulators, Nio, NSIG, onsemi, Porsche, Renault, Renesas, Rivian, Rogers Corporation, Rohm, San’an, Semikron Danfoss, Schaeffler, Schweizer, SICC, Starpower, STMicroelectronics, ShinEtsu, Siltronic, SK Siltron, Stellantis, Sumco, TankeBlue, TDK, Tesla, Texas Instruments, Toyota, UAES, UNT, USI, Valeo, Vishay, Volkswagen, Volvo, WaferWorks, Wolfspeed, Xiaomi, XPeng, Yageo, ZF, and many more.