Automotive Power Modules Market By Share, Growth Analysis, Type, Statistics, Regions and Forecast to 2030

Automotive Power Modules Market is projected to reach USD 6.34 Billion by 2030, The rising demand for electric vehicles in developed and emerging countries.     

The automotive power modules market is expected to continue to grow in the coming years, driven by the increasing demand for EVs and HEVs, the growing popularity of ADAS and infotainment systems, and the need for more efficient and powerful powertrains. The development of new technologies is also expected to support the growth of the market.     

Market Size:     

The Automotive Power Module market was estimated to be worth USD 4.29 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5% from 2023 to 2030, when it is expected to reach USD 6.34 billion.      

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Market Scope:    

Automotive Smart Antennas play a pivotal role in enhancing vehicle connectivity by enabling efficient reception and transmission of signals. The increasing integration of smart technologies, such as IoT (Internet of Things), within automobiles has further bolstered the market's growth. Automotive manufacturers are strategically adopting smart antennas to enhance vehicle-to-everything (V2X) communication, enabling improved safety, navigation, and entertainment experiences.          

Opportunity Analysis:

The increasing demand for EVs is the main driver of growth in the automotive power modules market. EVs are expected to account for over 50% of all new car sales by 2030. This is creating a strong demand for power modules, as EVs require more powerful and efficient powertrains than traditional gasoline-powered vehicles. The growing popularity of HEVs is also driving growth in the automotive power modules market. HEVs use a combination of an electric motor and a gasoline engine to power the vehicle. Power modules are used to control the flow of electricity between the battery, the motor, and the engine in HEVs.

Key Players

ON Semiconductor (US), Mitsubishi Electric Corporation (Japan), Robert Bosch GmbH (Germany), Renesas Electronics Corporation (Japan), Continental AG (Germany), STMicroelectronics (Switzerland), Fuji Electric Co. (Japan), Infineon Technologies (Germany), NXP Semiconductors (Netherlands), Toshiba Corporation (Japan), and Rohm Semiconductor (Japan) are some of the leading key players in the Automotive Power Modules Market.

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Segment Analysis:

The automotive power module (PM) market is expected to grow significantly in the coming years, driven by the increasing demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs). PMs are key components in electric powertrains, as they integrate multiple power electronics components into a single, compact package. This integration improves the efficiency and reliability of the powertrain, while also reducing weight and cost. PMs convert direct current (DC) from one voltage level to another. They are typically used to provide the correct voltage to the various components of the powertrain, such as the electric motor and the battery charger.  

Regional Analysis:  

The increasing demand for electric vehicles (EVs) in major APAC economies, coupled with the region's commitment to sustainable mobility solutions, has fueled the adoption of advanced power modules within the automotive sector. Moreover, strategic collaborations and partnerships between regional governments and industry players are driving innovation and technology advancements, contributing to the overall expansion of the automotive power modules market in APAC. The region's dynamic economic landscape and a burgeoning middle-class population further amplify the market potential, making APAC a focal point for industry stakeholders navigating the transformative landscape of automotive power solutions.     

Key Takeaways:

The key drivers behind this upward trajectory include the increasing integration of smart technologies, rising consumer expectations for seamless connectivity, and the evolving landscape of autonomous and electric vehicles.   
The market's momentum is further propelled by the rising popularity of connected cars, emphasizing the need for robust and efficient communication systems.    

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Recent Industry Development:  

In December 2022, Infineon Technologies announced that it has developed a new 650V SiC MOSFET that is designed to be more efficient and reliable than traditional silicon MOSFETs. This new MOSFET is expected to be used in a variety of automotive applications, including powertrains, inverters, and chargers.

In October 2022, Mitsubishi Electric announced that it has developed a new SiC power module that is designed to be more compact and efficient than traditional silicon power modules. This new power module is expected to be used in a variety of automotive applications, including inverters and chargers.

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