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Electric Vehicle (EV) Charger Converter Module Market Segments, Analysis, Trends, Opportunities, and Strategies 2024-2033
Electric Vehicle (EV) Charger Converter Module Market Segments
As per the report, the electric vehicle (EV) charger converter module market size has grown exponentially in recent years. It will grow from $2.99 billion in 2023 to $3.68 billion in 2024 at a compound annual growth rate (CAGR) of 23%. The electric vehicle (EV) charger converter module market size is expected to see exponential growth in the next few years. It will grow to $8.46 billion in 2028 at a compound annual growth rate (CAGR) of 23.1%.
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Driving Forces Behind The EV Charger Converter Module Market Growth
A surge in demand for charging infrastructure is expected to propel the growth of the electric vehicle (EV) charger converter module market going forward. Charging infrastructure refers to the network of charging stations and associated equipment that support the charging of electric vehicles (EVs). The rising demand for charging infrastructure is driven by the increasing adoption of electric vehicles, supportive government policies, advancements in EV technology, and heightened environmental awareness. EV charger converter modules are essential components within charging infrastructure, converting. For instance, in June 2022, according to the Edison Electric Institute (EEI), a US-based association representing all investor-owned electric companies, the number of electric vehicles (EVs) on U.S. roads is forecast to increase significantly, from 2.4 million in 2021 to 26.4 million by 2030, necessitating approximately 12.9 million charging ports to accommodate this growth. Therefore, a surge in demand for charging infrastructure will drive the growth of the electric vehicle (EV) charger converter module market.
Advancements In Power Semiconductor Modules For Sustainable Transportation
Major companies operating in the EV charger converter module market are focusing on innovations in converter module technology, such as power semiconductor modules, to enhance the efficiency and performance of EV charging systems. A power semiconductor module is a compact, integrated assembly of power semiconductor devices designed to manage and convert electrical energy in various high-power applications efficiently. For instance, in May 2022, Hitachi Energy, a Switzerland-based company that specializes in sustainable energy management, launched RoadPak, a pioneering power semiconductor module for electric vehicles featuring advanced silicon carbide (SiC) technology for faster charging, enhanced reliability, and improved energy efficiency, essential for sustainable transportation and global grid integration solutions. RoadPak is designed to enable faster charging, longer driving ranges, and enhanced performance for all types of electric vehicles - from regular cars to heavy-duty trucks and high-performance racing cars
The electric vehicle (EV) charger converter module market covered in this report is segmented -
1) By Product Type: Direct Current to Direct Current Converter (DC/DC), Alternating Current to Direct Current Converter (AC/DC)
2) By Power Rating: 30 to 60 kW, 60 to 120 kW, 120 to 240 kW, 240 to 400 kW
3) By End-user: Residential, Commercial, Public
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Major companies operating in the electric vehicle (EV) charger converter module market are Robert Bosch GmbH, Siemens AG, Denso Corporation, Schneider Electric SE, ABB Ltd., Toyota Industries Corporation, Eaton Corporation, TE Connectivity Ltd., TDK Corporation, Infineon Technologies AG, Delta Electronics Inc., BorgWarner Inc., PHOENIX Contact GmbH & Co. KG, Bharat Heavy Electricals Limited, Leviton Manufacturing Co. Inc., Vicor Corporation, Kempower Oy, Tritium Pty Ltd, Axiom Energy Conversion Pvt. Ltd., IES Synergy, BRUSA Elektronik AG, Nuteck Power Solutions Private Limited, Mida EV Power Co. Ltd., Dana TM4 Inc., Mass-Tech Controls Pvt. Ltd.
Contents of the report:
1. Executive Summary
2. Electric Vehicle (EV) Charger Converter Module Market Report Structure
3. Electric Vehicle (EV) Charger Converter Module Market Trends And Strategies
4. Electric Vehicle (EV) Charger Converter Module Market - Macro Economic Scenario
5. Electric Vehicle (EV) Charger Converter Module Market Size And Growth
…..
27. Electric Vehicle (EV) Charger Converter Module Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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