Press release
Emerging Growth Patterns Driving Rapid Expansion in the Electric Vehicle (EV) Charger Converter Module Market
Electric Vehicle (EV) Charger Converter Module Market
Electric Vehicle Charger Converter Module Market Size and Growth Outlook
The market for electric vehicle charger converter modules is expected to experience substantial growth, reaching a valuation of $11.4 billion by 2030. This represents a robust compound annual growth rate (CAGR) of 20.1% during the forecast period. The surge in market value is largely fueled by the rapid development of fast charging corridors, increasing electric vehicle penetration, expansion of vehicle-to-grid (V2G) applications, greater investments in smart grid infrastructure, and technological innovations related to silicon carbide and gallium nitride semiconductors. Key trends anticipated to drive this market include heightened adoption of high-power fast charging converter modules, growing demand for bidirectional converters suited for V2G systems, increased use of modular and scalable charger designs, advancement in wide bandgap semiconductor-based converter technology, and a stronger focus on improving efficiency and thermal management.
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Key Factors Accelerating Demand for EV Charger Converter Modules
One major factor propelling the electric vehicle charger converter module market is the rapid expansion of fast charging infrastructure. This development aims to reduce charging times and improve convenience for EV users, thereby encouraging broader adoption of electric vehicles globally.
Additionally, the increasing integration of vehicle-to-grid applications is enhancing the functionality of EV charging systems. These bidirectional conversion capabilities allow electric vehicles to not only draw power from the grid but also supply energy back, supporting grid stability and energy optimization.
Prominent Companies Leading the Electric Vehicle Charger Converter Module Market
Several industry leaders are actively shaping the EV charger converter module market landscape. These include 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., and Mass-Tech Controls Pvt. Ltd.
View the full electric vehicle (ev) charger converter module market report:
https://www.thebusinessresearchcompany.com/report/electric-vehicle-ev-charger-converter-module-global-market-report
Strategic Expansion Moves Highlighted by Siemens AG Acquisition
In a significant move, Siemens AG acquired Heliox Energy in January 2024. This Germany-based technology company enhanced its eMobility charging portfolio by integrating Heliox's rapid charging solutions, which cover power electronic modules ranging from 40 kW to megawatt-level charging. This acquisition not only strengthens Siemens' product range for depot and en-route charging but also broadens its market presence across Europe and North America while boosting its capabilities in power electronics. Heliox Energy, a US-based provider, specializes in fast charging modules tailored for electric vehicles.
Technological Innovations Shaping the EV Charger Converter Module Market
Leading companies in the EV charger converter module arena are focusing on developing scalable, high-efficiency AC-DC converter stacks to support the growing demand for high-power DC fast charging infrastructure. These AC-DC converter modules convert electrical grid power into the voltage and current levels required by EV batteries, ensuring efficient and safe charging.
For example, in October 2025, Ador Powertron Ltd., a power electronics firm based in India, introduced a 30 kW AC-DC power module designed for EV fast chargers. This module features approximately 96% peak efficiency, a power factor of 0.99 or higher, and a stackable design that allows multiple units to be combined for chargers with higher capacity. This innovation promotes local manufacturing, reduces reliance on imports, and supports the growing need for modular and dependable fast charging solutions.
Comprehensive Market Segmentation for the Electric Vehicle Charger Converter Module Industry
The global electric vehicle charger converter module market is segmented into several key categories:
1) By Product Type:
- Direct Current to Direct Current Converters (DC/DC)
- Alternating Current to Direct Current Converters (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
Further detailed subsegments include types of DC/DC converters such as on-board, off-board, high-power for fast charging, and low-power for auxiliary systems. For AC/DC converters, the classification includes Level 1 (slow charging), Level 2 (residential and commercial use), Level 3 (fast charging), and bidirectional converters designed for vehicle-to-grid applications. This thorough segmentation provides valuable insights into the diverse product offerings and application areas in this rapidly evolving market.
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