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Europe Automotive Semiconductor Market Forecast 2021-2028

KEY FINDINGS

The Europe automotive semiconductor market growth is anticipated to progress at a CAGR of 7.72% during the forecast period, 2021-2028. According to industry sources, semiconductor manufacturing is spread across almost 100 companies that run 285 production fabs.

MARKET INSIGHTS

Poland, Belgium, the United Kingdom, Italy, France, Russia, Germany, and Rest of Europe are assessed for the Europe automotive semiconductor market growth evaluation. Germany has the highest revenue share in the European market with regard to automotive semiconductors. Also, automotive manufacturers are gaining traction in the connected cars market. For example, Audi and Mercedes are establishing research & development facilities in Silicon Valley.

In Italy, automotive is a major industry. Its supply chain entailed 5500 companies in 2019, as per industry sources. The automobile industry ranked sixth in Europe in 2019 in terms of vehicle production. In addition, the country is the fourth largest with regard to the highest number of vehicle sales. Whereas in Russia, the automotive industry has gained momentum post the economic crisis (2014-2016), as per the industry sources. Also, the foreign OEMs (Original Equipment Manufacturers) and local OEMs are contributing to the adoption of advanced driver assistance systems (ADAS) and connected services. However, the electronics manufacturers for the automotive industry in Russia face a shortage of microchips.

Poland is estimated to be a hub for both automotive and electronics. As per the Polish Investment and Trade Agency, out of 40 car and engine plants in CEE (Central Eastern Europe), 16 are based in Poland. This accounts for almost 11% of the total exports in 2013, with vehicles, parts, and accessories sales.

COMPETITIVE INSIGHTS

Some of the key market players include Micron Technology Inc, Renesas Electronics Corporation, Infineon Technologies AG, Intel Corporation, Robert Bosch GmbH, etc.

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Europe Automotive Semiconductor Market Forecast 2021-2028
Published By :Inkwood Research
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