Europe Automotive Semiconductor Market By Application (Body Electronics, Powertrain, Safety, Telematics & Infotainment, Chassis, and Others), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), By Component (Discrete Power, Processor, Sensor, Memory, and Others), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
The Europe Automotive Semiconductor Market would witness market growth of 5.9% CAGR during the forecast period (2021-2027).
Semiconductors with varied functionalities find potential application in different automotive products such as collision detection systems, navigation control, and infotainment systems. The demand for semiconductors wafers has been increased with the automation and electrification of automobiles.
Electrification, autonomy, and connected mobility are three major trends that would be indicative for the future growth of the automotive semiconductor market. These new trends are expected to augment the demand for electronic content per car, eventually creating lucrative growth opportunities for semiconductors in the automotive market. For many years, internal combustion engine-driven cars have been driving innovations in the automotive industry. Though, with the surge in adoption of autonomy and electrification in the automotive sector, high-tech cars with advanced features, supported by chips and semiconductors, would witness high demand in the market.
Some of the leading countries of the region include UK, Germany, Poland, Russia, and Belgium. The automotive sector plays a crucial role in the economy of the UK. Additionally, in France, many connected vehicle startups are creating advancements in semiconductors solutions in the automotive industry. Due to this factor, the country and subsequently regional automotive semiconductors would witness bright growth prospects. At the same time, the worldwide semiconductors shortage has influenced industrial production in France.
Belgium is at the forefront in terms of adopting the latest technologies in large fleets. Due to this, various companies are establishing manufacturing units in the country. For instance, ON Semiconductor has increased the capacity at its plants that develops high-voltage technologies for the automotive industry.
Infineon Technology makes, designs, and develops various types of semiconductor solutions. Moreover, it offers wireless control systems, modules, industrial and automotive transceivers, etc. The company is currently catering to the increased demands from various sectors such as communication, security, automotive, and others.
The Germany market dominated the Europe Automotive Semiconductor Heavy Commercial Vehicles Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $640.2 million by 2027. The UK market is exhibiting a CAGR of 7.5% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 9.3% during (2021 - 2027).
Based on Application, the market is segmented into Body Electronics, Powertrain, Safety, Telematics & Infotainment, Chassis, and Others. Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Component, the market is segmented into Discrete Power, Processor, Sensor, Memory, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NXP Semiconductors N.V., Infineon Technologies AG, Robert Bosch GmbH, Texas Instruments, Inc., Toshiba Corporation, Analog Devices, Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Rohm Semiconductors Co., Ltd., and STMicroelectronics N.V.
Scope of the Study
Market Segments covered in the Report:
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