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xEV power chip market to more than double to $14.5bn by 2031
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Fusion42 · 17 August 2026 · Fusion42 review
The xEV power chip market is projected to grow at a 14% CAGR to reach $14.5 billion by 2031, driven by rapid adoption of higher-voltage architectures and accelerating regional supply chain consolidation, especially in China. Key growth areas include silicon carbide MOSFETs and gallium nitride HEMTs despite overcapacity challenges faced by major players like Bosch and Renesas.
This Wire brief sits within Fusion42's coverage of Semiconductors.
◆ ◆ The Wire takeaway
You are facing a market shift where higher-voltage chips and advanced silicon carbide devices will dominate xEV power electronics. Realign your supply chain partnerships now or risk being sidelined by China's swift vertical integration and the rising dominance of SiC and GaN technologies.
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1 source · 17 Aug 2026
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