IDTechEx Reveals Booming Market of Power Electronics for EVs
June 10, 2015 | Business WireEstimated reading time: 1 minute
The recently updated IDTechEx report “Power Electronics for Electric Vehicles 2015-2025” www.idtechex.com/power reveals a booming market in power electronics for hybrid and pure electric vehicles. More and more types of power electronics are needed per vehicle as new functions need to be performed such as power conditioning for multiple energy harvesting. Another is squeezing better performance from batteries by controlled heating and cooling of them so they maintain optimum temperature at all times. In addition, the trend for more than one traction motor each with an inverter increases the inverter market faster than the growth rate of the EV business itself. IDTechEx now predict the traction inverter market will be valued at a staggering $45 billion by 2025.
The number of major power electronics modules in electric vehicles will have more than doubled over the 2013 figure to around 336 million by 2025. In certain types of vehicle identified by IDTechEx they will have increased much faster than that because the figure includes the power electronics in large numbers of pedelec e-bikes in China, a saturating market with no need for sophisticated electronics.
The main types of power electronics in hybrid and pure electric vehicles by land, water and air include battery management systems BMS which are becoming more sophisticated to increase safety and battery life, for example by monitoring temperature of each cell. Important are inverters and converters and on-board chargers with faster charging, higher current capability.
Inverters are becoming more complex, offsetting cost reduction, but Dr Peter Harrop, Chairman of IDTechEx says, “Those seeking much more than cost reduction will gain leadership. Infineon, Hitachi, Sumitomo Electric and Panasonic address such needs as power electronics integrated into transmissions and in-wheel motors in a uniquely efficient, compact, reliable and safe manner. They try to be first to dispense with water cooling at an ever higher power level thanks to new components and better design. The benefits of using the new components such as supercapacitors and SiC semiconductors intelligently are impressive, including significantly increasing the range of pure electric vehicles. Savvy suppliers are already wrestling with what the even later wave of new components can offer such as lithium-ion capacitors and GaN semiconductors.”
The report gives detailed forecasts and shows the technological and market trends.
Suggested Items
NEPCON ASIA 2025: Innovating Smart Manufacturing Ecosystems and Bridging Global Opportunities
07/11/2025 | PRNewswireTaking place from October 28 to 30, 2025 at the Shenzhen World Exhibition & Convention Center (Bao'an), NEPCON ASIA is the premier platform to discover the latest technologies and market trends, connect with new suppliers and products, and explore potential partnerships and distribution opportunities.
Mycronic Delivers Strong Q2 Performance and Raises 2025 Outlook to SEK 7.5 Billion
07/11/2025 | MycronicMycronic reported a 35% increase in Q2 net sales and a 27% EBIT margin, prompting an upward revision of its full-year 2025 revenue forecast to SEK 7.5 billion.
Kitron Reports Strengthening Momentum in Q2 2025
07/10/2025 | KitronKitron reported solid quarterly sales and profits, particularly driven by the Defence & Aerospace market sector.
Seeing a Future in Mexico
07/09/2025 | Michelle Te, I-Connect007The Global Electronics Association (formerly known as IPC) has been instrumental in fostering a partnership with Guanajuato, a state north of Mexico City with 12 industrial clusters and close to 150 companies involved in electronics. This past spring, Alejandro Hernández, the undersecretary for investment promotion in Guanajuato, attended IPC APEX EXPO 2025 at the invitation of IPC Mexico Director Lorena Villanueva, where he met with several companies to discuss the opportunities available in Mexico. He is inviting electronics-related companies seeking long-term investment in a centrally located area with access to highways, railways, and ports.
Webinar Review: A Global Trade and Economy in Flux
07/09/2025 | I-Connect007 Editorial TeamIn a July 8 webinar, Global Electronics Association Chief Economist Shawn DuBravac provided a comprehensive analysis of the evolving international trade environment, its implications for inflation, monetary policy, and labor dynamics, and a sober assessment of market valuations. In “Navigating a Shifting Landscape” DuBravac painted a picture of a global economy in flux, where shifting trade alliances and tariff structures are redrawing the supply chain map and influencing the broader economic landscape, while also conveying an overall bullish market outlook.