Automotive Power Modules Market Overview:
The global United States of America Automotive
Power Modules Market is expected to
register a CAGR of ~21% from 2023 to 2032 and hold a value of over USD 12.2 million by 2032.
The Automotive Power Modules Market is expected to witness
steady growth as the sales of vehicles have been low from the preceding year.
The power module plays an energetic role in the minimization of power losses,
enhancement of battery efficiency, upsurge in power density, and extension of mileage.
It is observed as an integral part of the automotive industry.
Manufacturers of power module components and automotive original
equipment manufacturers (OEM) have combined hands to recover vehicle
performance, safety, and efficiency. They are working together to come up with
power electronics for electric supplementary components. The usage of
semiconductors in power modules is vital for attaining cost
competitiveness in electric vehicle applications.
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Key Players
·
Mitsubishi Electric Corporation (Japan)
·
Toshiba Corporation (Japan)
·
NXP Semiconductors (Netherlands)
·
Continental AG (Germany)
·
Renesas Electronics Corporation (Japan)
·
Infineon Technologies (Germany)
·
Fuji Electric Co. (Japan)
·
Robert Bosch GmbH (Germany)
Regional Analysis
Being the fastest-emerging nation, the largest market share in
the global market is held by the Asia-Pacific region due to growing sales of
electric vehicles coupled with growing development in automotive infrastructure
drives the market demand. Moreover, the rising demand for electrification in
vehicles is another factor that generates growth opportunities in this region.
The second-largest market share in the global market is held by
the North American region due to the existence of countries like the US,
Canada, and Mexico that drive the market demand in this region. Moreover,
growing competition among various major key players coupled with the growing
investment made by the public and private sectors are some factors that
generate more market demand in this region.
The third-largest market share in the global market is held by
the European region due to the existence of a well-established technologically
advanced infrastructure that generates more market demand for automotive
vehicles in this region. Growing investment done by several major key players
is yet another factor that drives the market demand in this region.
Market Segmentation
The Global Automotive Power Modules
Market has been segmented into type and end-user
Based on the Module Type, The Global Automotive Power Modules Market has been segmented
into the power-integrated module and intelligent power module
Based on the Vehicle Type, The Global Automotive Power Modules
Market has been segmented into commercial vehicles and passenger cars.
Based on the Propulsion, The Global Automotive Power Modules
Market has been segmented into electric vehicles and ICE vehicles. Electric vehicles are
further sub-segmented into hybrid electric vehicles, plug-in electric vehicles,
and battery electric vehicles.
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