Forecast: 2025 Q4 Global xEV Demand Outlook 2023 to 2032

Track global xEV semiconductor and sensor demand, forecast to grow 13% annually from 2024–2029 as electrification continues to accelerate.

This TechInsights data model presents the global and regional outlook for xEV systems and associated semiconductor and sensor demand. Despite the uncertainties and challenges posed by a slowing domestic and global economy, the push toward electrification and battery electric vehicles is not slowing down, with volume demand continuing to grow. This will help to sustain demand for xEV semiconductor and sensor components, and the market will grow at a CAAGR of 13% over 2024–2029, from $12.0 billion to $21.6 billion. The continued momentum will push market demand to $25.2 billion by 2032.