The automotive semiconductor market is experiencing significant growth in Europe, driven largely by the increasing demand for electric vehicles (EVs). According to a recent report by Allied Market Research, the market is expected to reach a value of $59.7 billion in 2022 and is projected to reach $133.9 billion by 2032, growing at a CAGR of 10.1% from 2023 to 2032.
Germany, known for its strong automotive market, is contributing to the expansion of the sector by driving up semiconductor demand. The country offers a wide range of vehicles, from high-end to entry-level, and as the industry shifts toward autonomous capabilities, the need for semiconductors is increasing. In addition, France’s efforts to develop electric vehicles to meet emission limits are fueling the demand for electronic components, especially semiconductors. This demand is further supported by substantial public investments.
The Netherlands and Stellantis, a leading automotive manufacturer, have also made significant contributions to the growth of the automotive semiconductor market in Europe. Contracts between Stellantis and chip makers in Europe have helped stabilize chip supply for advanced computing and electric vehicles, strengthening Europe’s role in the market.
The shift to electric vehicles has also led to an increased demand for parts that can handle higher power consumption in automotive systems. Prominent players in the automotive technology sector have launched discrete power solutions to meet this demand. For example, Toshiba Electronic Devices & Storage Corporation introduced automotive 40V N-channel power MOSFETs with high drain current rating and low On-resistance. Samsung Electronics, on the other hand, has launched a large-scale production of its automotive Universal Flash Storage (UFS) 3.1 memory solution for in-vehicle infotainment systems, setting a new industry benchmark for energy efficiency.
Overall, the growth of the automotive semiconductor market in Europe is driven by the increasing demand for electric vehicles and the development of advanced technologies in the region. With ongoing investments and partnerships, Europe is set to play a crucial role in the future of the automotive semiconductor industry.
The source of the article is from the blog motopaddock.nl