Automotive Uninterruptible Power Supply (UPS) Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

The Business Research Company’s Automotive Uninterruptible Power Supply (UPS) Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 28, 2024 /EINPresswire.com/ -- The global automotive UPS market is projected to grow from $2.9 billion in 2023 to $3.1 billion in 2024, representing a compound annual growth rate (CAGR) of 6%. It will grow to $4.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The automotive UPS market growth reflects the increasing demand for reliable backup power in automotive applications, driven by the growing electric vehicle (EV) market, rising adoption of EVs and hybrid vehicles, and enhanced focus on vehicle safety and reliability.

Increasing Demand for Electric Vehicles Fuels Market Expansion
The increasing demand for electric vehicles is a key driver of the automotive UPS market growth. Electric vehicles (EVs), powered by electric motors using energy stored in batteries, offer a cleaner alternative to traditional internal combustion engine vehicles. Factors such as growing environmental concerns, government incentives for cleaner transportation, advancements in battery technology, and a desire for energy independence have significantly boosted the demand for electric cars.

For instance, according to the International Energy Agency, over 2.3 million electric cars were sold in the first quarter of 2023, marking a 25% increase from the same period in 2022. By the end of 2023, sales are expected to reach 14 million, representing a 35% year-on-year increase. The continuous growth in electric vehicle sales underscores the rising need for automotive UPS solutions that ensure continuous power delivery, enhancing reliability and protecting sensitive onboard electronics.

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Key Players and Technological Advancements
Major companies in the automotive UPS market, such as Siemens AG, General Electric Company, Panasonic Corporation, Schneider Electric, ABB Ltd, and Fujitsu Limited, are focusing on technological advancements to gain a competitive edge. One such advancement is the silicon carbide (SiC) MOSFET trench technology, which creates vertical trenches in the SiC substrate to achieve lower on-resistance and higher efficiency in power switching applications.

For example, Infineon Technologies AG, a leading semiconductor manufacturer, launched the 750V G1 discrete CoolSiC MOSFET family in February 2024. This product line is designed to meet the rising demand for greater efficiency and power density in industrial and automotive power applications, highlighting the ongoing innovation in the automotive UPS market.

Trends: Expansion of Autonomous and Connected Vehicles
The automotive UPS market is also experiencing several notable trends, including the expansion of autonomous and connected vehicles, government regulations and incentives for energy-efficient technologies, and increased investment in research and development for innovative UPS solutions. Additionally, there is a growing focus on reducing the size and weight of UPS units and integrating electronics and infotainment systems in vehicles. These trends are expected to shape the future of the automotive UPS market significantly.

Segments:
• By Power Supply: Static, Dynamic, Hybrid
• By Input Power Range: High Voltage (More Than 48V), Mid Voltage (9V To 48V), Low Voltage (Up To 9V)
• By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles

Geographical Insights: Asia-Pacific Leads the Market
Asia-Pacific was the largest region in the automotive UPS market in 2023, and it is expected to maintain its leading position due to the region's rapid industrialization, increasing automotive production, and rising adoption of electric vehicles. The report provides detailed insights into regional dynamics, market trends, and growth opportunities in this expanding market.

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Automotive Uninterruptible Power Supply (UPS) Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Automotive Uninterruptible Power Supply (UPS) (In Vehicle UPS) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive uninterruptible power supply (UPS) (In Vehicle UPS) market size, automotive uninterruptible power supply (UPS) (In Vehicle UPS) market drivers and trends, automotive uninterruptible power supply (UPS) (In Vehicle UPS) market major players, competitors' revenues, market positioning, and market growth across geographies. The automotive uninterruptible power supply (UPS) (In Vehicle UPS) market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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