The size of the power semiconductor market in 2023 is expected to reach 2.3 billion U.S. dollars

Battery electric vehicles(BEV) and plug-in hybrid vehicles(PHEV) shipped 1.2 million vehicles in 2017, an increase of 52 % from 2016. Some European car manufacturers also introduced the 48V mild hybrid model in 2017. This cost-effective solution to power the car auxiliary system while reducing carbon dioxide emissions will spread among all European carmakers between 2018 and 2019, followed by Chinese carmakers.

The 48V system will quickly push the market. Yole(Yole), a market regulator, predicts that the combined annual growth rate of light hybrid vehicles will reach 50 % between 2017 and 2023 because these low-cost electric vehicles are attractive. Their approach can be easily applied to any car, from city cars to high-end luxury models.

After assessing the development trends of various electric vehicle markets, Yole estimates that the annual compound annual growth rate from 2018 to 2023 will reach double-digit numbers. By 2020, the market size of the generalized electric vehicle EV/HEV will exceed 10 million vehicles, and by 2023 it will further grow to 18 million vehicles. The development of electric vehicles will also drive the IGBT power component market. In 2017, the related component market will be about US$ 1 billion. It is estimated that by 2023, the IGBT market in the electric vehicles/hybrid vehicle field will be nearly US$ 2.3 billion.

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