According to a new report, published by KBV research, The Global Automotive Power Modules Market size is expected to reach $16.1 billion by 2030, rising at a market growth of 18.6% CAGR during the forecast period.
The Si IGBTs segment is generating highest revenue in the Global Automotive Power Modules Market, By Type in 2022; thereby, achieving a market value of $11.7 Billion by 2030. Si IGBTs are renowned for their efficient power conversion and high-voltage capability. Efficiency in power management is of utmost importance in automotive applications, particularly in electric and hybrid vehicles, as it maximizes energy utilization and extends driving range. By their ability to manage high voltages while maintaining a low on-state voltage loss, Si IGBTs are well-suited for use in automotive power electronics. Consequently, the segment's demand is propelled by the ideal equilibrium between high voltage and voltage drop exhibited by Si IGBTs.
The Commercial Vehicles segment is experiencing a CAGR of 19.8% during (2023 - 2030). The shift toward electric and hybrid commercial vehicles is a major driver for the application of power modules. As the commercial sector embraces cleaner and more sustainable transportation solutions, power modules become integral in managing the electrical systems in these vehicles. Commercial vehicles benefit from regenerative braking systems, especially those in urban delivery fleets. Power modules facilitate the effective implementation of regenerative braking, converting kinetic energy during braking into electrical energy for storage and reuse.
The Battery Electric Vehicle (BEV) segment is registering maximum revenue in the Global Automotive Power Modules Market, By Propulsion Type in 2022; thereby, achieving a market value of $10.5 Billion by 2030. Power inverter modules are a fundamental component in BEVs, converting the electric motor's direct current (DC) from the battery into alternating current (AC). These modules play a critical role in controlling the speed and torque of the motor. Automotive power modules are integral in motor control units, managing the performance and efficiency of the electric motor in a BEV. The precise control of the motor is crucial for optimizing energy consumption and overall vehicle dynamics.
The Traction Inverter segment would exhibit a CAGR of 18.2% during (2023 - 2030). Traction inverters play a central role in powering the electric drivetrains of electric and hybrid vehicles. They control the speed and torque of the electric motor, allowing for efficient and precise modulation of power delivery to the wheels. Therefore, the demand for high-performance traction inverters is driven by the need for enhanced efficiency, reliability, and overall drivetrain performance.
Full Report: https://www.kbvresearch.com/automotive-power-modules-market/
The Asia Pacific region dominated the Global Automotive Power Modules Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.3 Billion by 2030. The Europe region is poised to grow at a CAGR of 17.8% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 18.1% during (2023 - 2030).
By Type
By Vehicle Type
By Propulsion Type
By Application
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