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Market Overview

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The global automotive power management IC market is projected to reach $10,186 million by 2031, with a CAGR of 9.5% during the forecast period of 2022-2031. This growth is primarily driven by technological advancements and the increasing demand for advanced driver assistance systems (ADAS).

Power management integrated circuits (ICs) are solid-state devices that control the flow and direction of electrical power. They are used in various functions such as DC to DC conversion, battery charging, power-source selection, voltage scaling, and power sequencing. These ICs are widely used in portable media players, mobile phones, and automobiles, where they manage the power supply requirements of different modules.

The automotive industry is entering a new era with globally connected vehicles. These vehicles are equipped with sensor platforms that generate large amounts of data from systems like LIDAR and telematics control units. The advancements in 5G technology are also enabling new automotive use cases with low latency and high bandwidth V2X communication.

The implementation of power management ICs is increasing in electric vehicles, driving the growth of the automotive power management IC market. Factors such as the production and sales of electric cars, the implementation of 5G networks, and the demand for PMICs in ADAS contribute to the market’s expansion.

Automobile manufacturers are not only focused on producing vehicles but also see themselves as service providers. They are investing in innovative mobility services and developing connected and autonomous vehicles to enhance traffic flow and safety.

The COVID-19 pandemic had both short-term and long-term effects on the semiconductor industry, which impacted the automotive power management IC market. The complex supply chain and disruptions caused by the pandemic resulted in slow car production and sales worldwide.

The demand drivers for the automotive power management IC market include the increasing sales of electric vehicles and the growing demand for ADAS. However, there are limitations such as thermal challenges in powering high-current rails that need to be addressed in the market.

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Market Segmentation

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The market is segmented based on various factors, including application, vehicle type, input voltage, mounting style, and region.

Segmentation by Application
ADAS and Safety
Battery Management
Telematics
Body Electronics and Infotainment Systems
Powertrain

Segmentation by Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

Segmentation by Input Voltage
<6 V 6 to 32 V >32 V

Segmentation by Mounting Style
Plated Through Hole (PTH)
Surface-Mount (SMT)

Segmentation by Region
North America
Europe
China
Asia-Pacific and Japan
South America
Middle East and Africa

During the forecast period of 2022-2031, the ADAS and safety segment is projected to dominate the automotive power management IC market, primarily driven by the growing demand for electric vehicles. This segment holds a significant share in the market and is expected to witness a CAGR of 8.9% between 2022 and 2031. The adoption of public charging stations in developing countries to facilitate EV adoption is a key factor contributing to this growth. OEMs and EV network operators are investing in and deploying DC fast chargers across various locations such as commercial parking facilities, highways, gas and petrol stations, and retail and hospitality sectors. Collaborations with gas stations are also being made to expedite the deployment of fast chargers. Prominent companies leading in public charging infrastructure plans include IONITY, EVGo, Charge Point, and Tritium. Furthermore, governments at both federal and state levels play a vital role by providing tax rebates and subsidies to companies installing DC fast chargers and EV customers.

In terms of vehicle type, passenger cars are expected to dominate the automotive power management IC market, while the light commercial vehicle segment is projected to lead during the forecast period of 2022-2031. The increasing demand for battery-operated devices, rapid technological advancements, and the proliferation of new semiconductor applications have contributed to the surge in power management integrated circuits (PMICs) usage. PMICs help optimize power management, protect against faults like overvoltage or overcurrent, implement human-machine interfaces, manage battery life and charging, and perform various control functions for mechanical, electromechanical, and electronic devices in light commercial vehicles.

Automotive power management ICs with a power range of 6-32 V are expected to dominate the market during the forecast period, experiencing moderate growth between 2021 and 2031. These ICs find high demand in advanced driver assistance systems (ADAS) applications as they utilize an independent voltage reference and an adjustable independent oscillator for supervisory features.

The surface-mount (SMT) segment is expected to dominate the automotive power management IC market throughout the forecast period due to the increasing demand for surface mount ICs in vehicles. Surface mount technology eliminates the need for costly sockets and custom printed circuit boards in circuits, making it more efficient and cost-effective.

Europe, with its increased sales of electric vehicles, generated the highest revenue of $1.23 billion in 2021. The availability of diverse market segments makes the automotive power management IC market attractive in Europe.

Asia-Pacific and Japan are expected to experience significant growth during the forecast period, with a CAGR of 10.4%, driven by the rising demand for power management IC components. The presence of numerous manufacturers focusing on meeting the requirements of digital signal processor (DSP)-controlled automotive systems like advanced driver assistance systems (ADAS) contributes to the market’s growth in regions such as North America, China, Asia-Pacific and Japan, and Europe.

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Competitive Landscape

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The competitive landscape of the automotive power management IC market is characterized by various strategies implemented by key players in the e-mobility industry to gain traction and increase their market share. These strategies include new product launches, business expansions, mergers, partnerships, and collaborations. Among these strategies, partnerships and collaborations have emerged as the preferred choices in the competitive landscape of automotive PMICs.

However, it is important to note that companies involved in power management face significant lead times of up to a year for production. The shortage of chips has even compelled some car manufacturers to halt order-taking and cease production of certain models. Semiconductor shortages have resulted in factory shutdowns, and automotive chips are primarily being utilized in higher-end vehicles. Nevertheless, automotive power management IC manufacturers are ramping up their production capacity to meet the demand for these essential components. For instance, Texas Instruments is constructing a new facility in Richardson, Texas, scheduled to commence PMIC production in 2023.

The selection of companies profiled in this industry analysis is based on inputs from primary experts, along with an evaluation of their company coverage, product portfolio, and market penetration.

In terms of market share, private companies hold approximately 30% of the automotive power management IC market, while public companies occupy around 70% of the market share.

Key companies profiled in this report include Power Clinic Inc., Silergy Corp., Lion Semiconductor, TOREX USA Corp., Rantle East Electronic Trading Co., Limited, Texas Instruments Incorporated, SMIC, Analog Devices Inc., NXP Semiconductors B.V., Onsemi, Infineon Technologies AG, STMicroelectronics, Sanken Electric Co., Ltd., Allegro MicroSystems, Microchip Technology Incorporated, Renesas Electronics Corporation, Cypress Semiconductor Corporation, Qualcomm Technologies, Inc., Rutronik Elektronische Bauelemente GmbH, Maxim Integrated.

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Recent Industry Developments

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In June 2022, Renesas Electronics Corporation launched the ISL78083, a power management IC (PMIC) that aims to simplify the design of power supply for multiple HD camera modules. This launch is expected to reduce development cycles, lower bill of materials (BOM) costs, and mitigate supply chain risks.

In June 2021, Microchip expanded its wide range of dsPIC33C Digital Signal Controllers (DSCs) by introducing the ISO 26262-compliant dsPIC33CK1024MP7xx family, targeting the large memory segment. With 1 MB Flash, this new family of dsPIC33C DSCs enables the execution of automotive software such as AUTOSAR, OS, MCAL drivers, ISO 26262 functional safety diagnostics, and security libraries. The family also incorporates a high-performance central processing unit (CPU) with a deterministic response and specialized peripherals designed for various automotive applications including general automotive, advanced sensing and control, digital power, and motor control.

In April 2021, STMicroelectronics launched a fully integrated power management IC (PMIC) specifically designed for AMOLED displays. This PMIC offers a combination of low quiescent current and enhanced flexibility, resulting in extended battery runtime for portable devices.

In April 2021, Infineon Technologies AG introduced a new family of battery management ICs, including TLE9012DQU and TLE9015DQU. These ICs provide an optimized solution for battery cell monitoring and balancing. They are suitable for a wide range of industrial, consumer, and automotive applications, including mild hybrid electric vehicles (MHEV), hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV), and battery-powered electric vehicles (BEV).

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Key Questions Answered

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How is the global automotive power management IC market evolving with the introduction of new technologies and products?

What are the significant patents filed by companies operating in the automotive power management IC market?

What are the perspectives of key industry participants from manufacturing companies involved in the automotive power management IC sector?

What are the primary development strategies employed by key players to maintain competitiveness in the market?

Which region and country are the major consumers of automotive power management ICs?