The global transition toward sustainable transportation is accelerating the adoption of electrified vehicles (xEV), creating significant opportunities in the power electronics sector. Despite challenges such as high vehicle costs, geopolitical dependencies, and charging infrastructure constraints, the xEV market continues to grow, driven by long-term trends in decarbonization and electrification. This presentation will provide an in-depth analysis of the power semiconductor market for xEV applications, with a focus on Silicon, Silicon Carbide (SiC), and emerging Gallium Nitride (GaN) devices. The complex dynamics of IGBT vs. SiC choices in automotive designs will be explored, alongside the implications of cost-performance tradeoffs and supply chain dependencies. Beyond passenger EVs, the electrification of rail transport and electric aircraft also presents promising markets for power devices. Key market figures, technical innovations, and strategic collaborations—including with Chinese players—will be discussed to provide a comprehensive overview of the evolving power electronics landscape in mobility.