Electric Vehicle Power Control Unit: Introduction
- Power control unit is used in motor driven hybrid and electric vehicles. It consists of three components: an inverter to power the motor, a boost converter to increase voltage; and a DCDC converter to lower voltage. The power control unit converts battery electric power from DC to AC during acceleration, and then supplies power to the motor. It converts electric power from AC to DC during deceleration in order to recover the regenerated electric power.
- Generally, the power control unit for electric vehicles is an integrated control unit composed of motor control unit, low voltage DC converter, and vehicle control. It controls and manages the overall operation of the vehicle including the driving condition of the vehicle.
Key Drivers of Global Electric Vehicle Power Control Unit Market:
- The automotive industry is moving toward a new world with growing sustainability, changing consumer behavior, encompassing electric vehicles, connected cars, mobility fleet sharing, and improving lifestyles. Developing countries such as India, China, and Brazil are lucrative markets for the automotive sector. Furthermore, rise in demand for electric vehicles globally is fuelling the demand for power control unit in these vehicles. For instance, China is the leading market for electric vehicles; hence, the development in electric vehicles can be correlated to the increase in the demand for power control units across the globe.
- Moreover, according to European Automobile Manufacturers Association (ACEA), in June 2021, hybrid passenger car registrations in the European Union increased by 10%, as compared to the previous year, owing to their hybrid nature and increased fuel efficiency. Therefore, manufacturers of parts and components only of IC engine vehicles are presently expanding their business into the electric vehicle domain. Thus, an increase in demand for the electric vehicles is anticipated to propel the demand for power control units during the forecast period.
Rise in Demand for Electric and Hybrid Vehicles to Offer Significant Opportunities
- Rise in demand for electric and hybrid vehicles is expected to offer significant opportunities to automotive manufacturers. Major luxury car manufacturers are launching electric variants of their vehicles due to growing concerns about the environment and increase in fuel prices. Additionally, governments are offering attractive incentives and policies to encourage sales of electric vehicles (EVs), which is likely to boost the power control unit (PCU) market.
- Such transformation in the automotive industry is expected to impact automakers, electronic component manufacturers, aftermarkets, and supply chain of the industry itself. Moreover, conventional diagnostic systems are anticipated to be replaced entirely by onboard diagnostic systems that continually monitor the health of all the electric and mechanical components of the vehicle. Hence, an increase in the sales of electric & hybrid vehicles is anticipated to offer considerable opportunities for the electric vehicle power control unit market.
Technical Failures and Expensive Repairs Hinder Reliability of Power Control Unit
- Failure of the vehicle power control unit may invalidate the engine fuel setting and timing, thereby negatively affecting vehicle performance. This may cause intermittent faults in the vehicle, such as fire. Failure of the Power control unit may also reduce fuel-efficiency, acceleration, and power. The control units are highly complex, and most interrelated controls influence each other. Therefore, a complete failure of tampering of the control unit may stop the operation of the vehicle entirely.
- A vehicle with power control unit function has no addition cost burden, to a large extent, and there is no auxiliary backup to compensate for human error. Therefore, a malfunctioning power control unit may cause fatal problems such as triggering airbags when not needed. Such unit failures lead to extra cost burden to consumers. Therefore, this is expected to hamper the market during the forecast period.
Asia Pacific to Hold Significant Share of Global Electric Vehicle Power Control Unit Market:
- Asia Pacific is projected to dominate the global electric vehicle power control unit market due to a rise in the demand for autonomous driving functions in BEVs, HEVs, and PHEVs. Moreover, Asia Pacific is home to numerous OEMs that are focusing on vehicle electronics technologies through research & development, especially in Japan and China. Japan plays a vital role in automotive technologies in Asia Pacific. It is a prominent market for technologically advanced vehicles with advanced automotive electronics.
- China is witnessing a rapid increase in electric vehicle sales, and strong research & development in the automotive sector is driving the electric vehicle power control unit market in the country. Favorable government regulations for electric vehicles in India is estimated to boost the market for power control unit in the country. Presently, very few electric vehicles have been introduced in the market in India; however, electric vehicle sales in India are likely to increase in the near future, which is anticipated to propel the power control unit market in the country.
Key Players Operating in Global Market:
The global electric vehicle power control unit market is highly fragmented with top manufacturers across the global market. A few of the key players operating and potential in the global electric vehicle power control unit market are:
- Aptiv LLC.
- BOLAB Systems
- Continental AG
- Denso Corporation
- EHFCV
- Electrodrive Powertrain Solutions Pvt. Ltd.
- Hitachi Astemo Indiana, Inc.
- HYUNDAI KEFICO Corporation
- Marelli Holdings Co., Ltd.
- Pektron
- Robert Bosch GmbH
- TE Connectivity
- Vitesco Technologies
- Wacker Chemie AG
Global Electric Vehicle Power Control Unit Market: Research Scope
Global Electric Vehicle Power Control Unit Market, by Component
- Inverter
- Boost Converter
- DCDC Converter
Global Electric Vehicle Power Control Unit Market, by Propulsion Type
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Hybrid Electric Vehicle
Global Electric Vehicle Power Control Unit Market, by Vehicle Type
- Passenger Vehicle
- Hatchback
- Sedan
- Utility Vehicles
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Electric Vehicle Power Control Unit Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
