Americas EV Semiconductor Market 2024

Americas EV Semiconductor Market 2024

Within the Americas region, the United States, Canada, Mexico, and Brazil emerge as the primary contributors to the EV semiconductor market. Notably, Canada recently enacted significant regulations mandating that all passenger cars, SUVs, crossovers, and light trucks sold by 2035 must be zero-emission vehicles, aligning with the government's comprehensive strategy to combat climate change. The Americas EV semiconductor market size will reach a value of US$8,296 million by 2029, reflecting a CAGR of 28.9% from 2024 to 2029. BEV was the primary revenue contributor in 2023.

Moreover, the number of EV charging ports in the United States has nearly doubled within the past three years. California's commitment to phasing out gasoline-powered vehicles by 2035 and mandating the sale of PHEV or fully EV by that year has been instrumental in driving this shift.

While the Latin American region has been slower in embracing EV adoption compared to other parts of the Americas, governments in the region are starting to implement ambitious initiatives to promote the use of EV and facilitate the transition to cleaner transportation. The trend in these markets is progressively shifting towards the adoption of BEV.

The Americas market for EV semiconductors is divided into product types, namely discrete, analog, logic, memory, and others. The Americas EV discrete segment is anticipated to attain a remarkable growth rate of 30.1% over the forecast period from 2024 to 2029, ultimately reaching a revenue of USD 2,572 million by 2029. Discrete semiconductors are critical components of EV powertrains and perform essential functions such as regulating voltage, reducing power consumption, and minimizing heat generation.

In terms of end-users, the EV semiconductor market can be classified into five segments: powertrain, chassis & safety, telematics & infotainment, ADAS, and body & others. From 2024 to 2029, the size of the Americas EV ADAS segment is expected to grow at a CAGR of 34.4% to reach USD 1,463 million, at which time the penetration of ADAS segment is expected to reach 17.6%. ADAS encompasses a range of features including automatic emergency braking (AEB), park assist systems (PAS), adaptive front lights, blind spot detection, adaptive cruise control (ACC), forward collision warning system (FCWS), and night vision systems. These features are enabled by various semiconductors such as radar microcontrollers, LiDAR detectors, image sensors, memory ICs, digital signal processors (DSPs), LEDs, and ultrasonic sensors.

The Americas EV semiconductor market is dominated by the top five companies, namely Infineon Technologies AG, NXP Semiconductors N.V., Renesas Electronics Corp., STMicroelectronics N.V., and Texas Instruments Inc. Together, they hold a market share of over 55-60% in 2023.

Additionally, there are several other notable players operating in the Americas EV semiconductor market. These include Allegro MicroSystems Inc., Ambarella, Inc., ams-OSRAM AG, Analog Devices, Inc., Broadcom Inc., BYD Semiconductor Co., Ltd., Cirrus Logic Inc., Diodes, Inc., Elmos Semiconductor SE, Fuji Electric Co., Ltd., Hon Hai Precision Industry Co., Ltd., indie Semiconductor Inc., Intel Corp., Littelfuse, Inc., LX Semicon Co., Ltd., Macronix International Co., Ltd., MaxLinear, Inc., MediaTek Inc., Melexis N.V., Microchip Technology Inc., Micron Technology, Inc., Mitsubishi Electric Corp., Monolithic Power Systems, Inc., Murata Manufacturing Co., Ltd., Nanya Technology Corp., Nuvoton Technology Corporation, NVIDIA Corp., ON Semiconductor Corp., Qorvo Inc., QUALCOMM, Inc., Robert Bosch GmbH, ROHM Co., Ltd., Samsung Electronics Co., Ltd., Semtech Corporation, Silicon Motion Technology Corporation, SK Hynix, Inc., Sony Semiconductor Solutions Corporation, Toshiba Electronic Devices & Storage Corporation, Vishay Intertechnology, Inc., VisIC Technologies Ltd., Western Digital Corp., Wolfspeed Inc., and Wolfspeed, Inc., among others.

This study aims to analyze the Americas market for various segments of EV semiconductor, including:

Product Type: Discrete, Analog, Logic, Memory, and Others.EV Type: PHEV (Plug-in Hybrid Electric Vehicle) and BEV (Battery Electric Vehicle).
End-User: Powertrain, Chassis & Safety, Telematics & Infotainment, ADAS, and Body & Others.
Region: Americas.