Electric Vehicle (EV) Charger Converter Module Market Expansion Continues, with Forecast Valuation of $9.68 Billion by 2029

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Electric Vehicle (EV) Charger Converter Module Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of the electric vehicle (EV) charger converter module has seen remarkable growth in recent years. The projections show it escalating from $3.68 billion in 2024 to $4.48 billion in 2025, with a compound annual growth rate (CAGR) of 21.6%. This substantial growth during the historic period is due to increased demand for electric vehicles, enhancement of charging facilities, favorable government schemes and policies, increased consumer consciousness towards environmental preservation, and the expansion of charging station networks.

Electric Vehicle (EV) Charger Converter Module Market Size Forecast: What's the Projected Valuation by 2029?
Anticipations are high for the electric vehicle (ev) charger converter module market as it is predicted to undergo significant expansion in the coming years. It is estimated to reach $9.68 billion in 2029, marking an impressive compound annual growth rate (CAGR) of 21.3%. Factors such as ongoing advancements in EV batteries, development of fast charging networks, increased investments in green energy, a surge in electric vehicle sales, and proliferation of commercial electric vehicle fleets, have been identified as catalysts of this growth during the forecasted period. Key trends forecasted include the growing adoption of electric vehicles, breakthroughs in power semiconductor modules, the advent of silicon carbide (SiC) technology, alignment with smart grids, and the incorporation of intelligent charging solutions.

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What Are the Drivers Transforming the Electric Vehicle (EV) Charger Converter Module Market?
Expectations are high for the significant growth of the electric vehicle (EV) charger converter module market due to an anticipated increase in the need for charging infrastructure. This term refers to a charging stations network and the connected equipment that facilitates the charging of electric vehicles (EVs). The mounting demands for this infrastructure are due to the growing popularity of electric vehicles, progressive government policies, advancements in EV technology, and increased environmental consciousness. The crucial role EV charger converter modules play in this infrastructure is undeniable as they are essential for conversion. By way of example, the Edison Electric Institute (EEI), representing all investor-owned electric companies in the U.S., predicted in June 2022 that the number of electric vehicles (EVs) on U.S. roads would dramatically rise from 2.4 million in 2021 to an impressive 26.4 million by 2030. This would require around 12.9 million charging ports to support this expansion. Therefore, the predicted increase in demand for charging infrastructure is expected to boost the electric vehicle (EV) charger converter module market.

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Which Fast-Growing Trends Are Poised to Disrupt the Electric Vehicle (EV) Charger Converter Module Market?
Leading businesses in the EV charger converter module market are prioritizing innovative advancements in converter module technology such as power semiconductor modules to boost the effectiveness and productivity of EV charging systems. A power semiconductor module is a compactly designed assembly of power semiconductor devices tailored for controlling and efficiently converting electrical energy in a range of high-power uses. For example, Hitachi Energy, a sustainable energy management company based in Switzerland, in May 2022, introduced RoadPak. It is a trailblazing power semiconductor module specifically for electric vehicles, which incorporates advanced silicon carbide (SiC) technology. This technology enables quicker charging, increased dependability, and enhanced energy efficiency, which are vital for sustainable transportation and global grid solutions. RoadPak is structured to facilitate faster charging, extend driving ranges, and improve performance for all forms of electric vehicles, ranging from regular cars to heavy-duty trucks and high-speed racing cars.

Which Segments in the Electric Vehicle (EV) Charger Converter Module Market Offer the Most Profit Potential?
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

Subsegments:
1) By Direct Current To Direct Current Converter (DC/DC): On-Board DC/DC Converters, Off-Board DC/DC Converters, High-Power DC/DC Converters For Fast Charging, Low-Power DC/DC Converters For Auxiliary Systems
2) By Alternating Current to Direct Current Converter (AC/DC): Level 1 AC/DC Converters (Slow Charging), Level 2 AC/DC Converters (Residential and Commercial Use), Level 3 AC/DC Converters (Fast Charging), Bidirectional AC/DC Converters (for Vehicle-to-Grid Applications)

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Which Firms Dominate the Electric Vehicle (EV) Charger Converter Module Market by Market Share and Revenue in 2025?
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.

Which Regions Offer the Highest Growth Potential in the Electric Vehicle (EV) Charger Converter Module Market?
Asia-Pacific was the largest region in the electric vehicle (EV) charger converter module market in 2024. The regions covered in the electric vehicle (EV) charger converter module market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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