China xEV System, Semiconductor and Sensor Demand Forecast 2021 to 2030 - January 2024
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This TechInsights data model presents a view of the China outlook for xEV systems and associated semiconductor and sensor demand. Despite the uncertainties and challenges posed by the Ukraine conflict, semiconductor shortages, and a slowing domestic and global economy, the push towards electrification and battery electric vehicles in particular 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 18% over 2022–2027, from $4.0 billion to $9.3 billion. The continued momentum will push market demand to $10.9 billion by 2030.
