xEV Semiconductor Demand Outlook 2021-2030
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TechInsights forecasts xEV production to grow at a CAAGR of 18%, with volumes reaching 57.8 million units by 2030. Semiconductor demand from xEV powertrain systems is forecast to grow at a CAAGR of 24% from $8.3 billion in 2022 to $24.2 billion in 2027 and reaching $30.5 billion by 2030. The accompanied push towards increasing use of wide bandgap technologies will mean that by 2030, we will be approaching a tipping point when SiC semiconductor demand will exceed that of Si power semiconductors.
