The Global Automotive Power Modules Market Size is valued at 2.06 billion in 2022 and is predicted to reach 11.18 billion by the year 2031 at a 20.9% CAGR during the forecast period for 2023-2031.
Automotive power modules are electronic components that regulate and control the flow of electrical power within a vehicle. For efficient power management, these modules often combine diverse components, such as power semiconductors, control circuits, and cooling systems, into a single unit. Several factors drive the growth of the automotive power modules market, including technological advancements, government restrictions, industry trends, and consumer preferences.
With the cumulative use of electric vehicles (EVs) and hybrid electric vehicles (HEVs), the global automotive industry is dramatically changing towards electrification. As a result of this trend, there is an increasing demand for automotive power modules, which are utilized in electric powertrains, motor control units, and high-voltage battery management systems.
However, The pandemic caused disruptions in worldwide supply chains, affecting the availability of raw materials, components, and electronic parts to produce vehicle power modules. Lockdowns, plant closures, and transportation restrictions hampered the free movement of products, causing production and delivery delays.
The Automotive Power Modules Market is segmented based on module and vehicle types. Based on the module type, the market is segmented as Intelligent Power Module (IPM) and Power Integrated Module (PIM). The vehicle type segment includes passenger cars and commercial vehicles.
The passenger cars category will hold a major share of the global Automotive Power Modules Market in 2022. The increasing need for safety systems and fuel-efficient technology linked with vehicle power trains is the primary factor driving the market segment's growth. In addition, a growing number of passenger vehicle safety, entertainment, comfort, and vehicle control options are also available for deployment. This is attributed to various factors, one of which is the altering tastes of automobile purchasers, bolstered by government regulations.
The Intelligent Power Module (IPM) segment is projected to grow at a rapid rate in the global Automotive Power Modules Market. IPM is a high-performance module that includes a dedicated driving circuit to get more performance out of an IGBT chip, as well as a proprietary IC for self-protection (short circuit, supply under voltage, and over temperature). They are continuing to advance each IPM series in tandem with the rise of IGBT chips. The lineup includes the principal items "L1 series," "V1 series," and "S1 series," with low power loss, outstanding performance, and small size, to which the "G1 series" has just been added.
Asia Pacific Automotive Power Modules Market is expected to register the highest market share in terms of revenue in the near future. Increasing pollution standards around the world are expected to cause an increase in electric car sales during the forecast period. To meet the rising demand for EVs, manufacturers of automotive power modules are expanding their production capacity, primarily in Asia-Pacific, which has the highest sales and large exports of vehicles worldwide, as well as non-tariff on EV parts among ASEAN countries. Furthermore, North America is predicted to expand significantly during the forecast period. North America is a technical innovation hotspot, including advances in power semiconductor technology.
The region's power module producers concentrate on researching and implementing innovative power semiconductor materials and packaging methods. These developments help the expansion of the automotive power modules industry by providing performance, reliability, and higher efficiency.
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Report Attribute |
Specifications |
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Market Size Value In 2022 |
USD 2.06 Bn |
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Revenue Forecast In 2031 |
USD 11.18 Bn |
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Growth Rate CAGR |
CAGR of 20.9% from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Product, Vehicle Type, Sales Channel |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan), NXP Semiconductors (Netherlands), Continental AG (Germany), Renesas Electronics Corporation (Japan), Infineon Technologies (Germany), Fuji Electric Co. (Japan), Robert Bosch GmbH (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Rohm Semiconductor (Japan) |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Automotive Power Modules Market Snapshot
Chapter 4. Global Automotive Power Modules Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis of Metaverse Industry
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. COVID-19 Impact on Metaverse Industry
Chapter 5. Market Segmentation 1: By Modules Type Estimates & Trend Analysis
5.1. By Modules Type & Market Share, 2019-2031
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Modules Type:
5.2.1. Intelligent Power Module (IPM)
5.2.2. Power Integrated Module (PIM)
Chapter 6. Market Segmentation 2: By Vehicle Type Estimates & Trend Analysis
6.1. By Modules Type & Market Share, 2019-2031
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Vehicle Type:
6.2.1. Passenger Cars
6.2.2. Commercial Vehicle
Chapter 7. Automotive Power Modules Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Automotive Power Modules Market revenue (US$ Million) estimates and forecasts By Modules Type, 2023-2031
7.1.2. North America Automotive Power Modules Market revenue (US$ Million) estimates and forecasts By Vehicle Type, 2023-2031
7.1.3. North America Automotive Power Modules Market revenue (US$ Million) estimates and forecasts by country, 2023-2031
7.1.3.1. U.S.
7.1.3.2. Canada
7.2. Europe
7.2.1. Europe Automotive Power Modules Market revenue (US$ Million) By Modules Type, 2023-2031
7.2.2. Europe Automotive Power Modules Market revenue (US$ Million) estimates and forecasts By Vehicle Type, 2023-2031
7.2.3. Europe Automotive Power Modules Market revenue (US$ Million) by country, 2023-2031
7.2.3.1. Germany
7.2.3.2. Poland
7.2.3.3. France
7.2.3.4. Italy
7.2.3.5. Spain
7.2.3.6. UK
7.2.3.7. Rest of Europe
7.3. Asia Pacific
7.3.1. Asia Pacific Automotive Power Modules Market revenue (US$ Million) By Modules Type, 2023-2031
7.3.2. Asia Pacific Automotive Power Modules Market revenue (US$ Million) estimates and forecasts By Vehicle Type, 2023-2031
7.3.3. Asia Pacific Automotive Power Modules Market revenue (US$ Million) by country, 2023-2031
7.3.3.1. China
7.3.3.2. India
7.3.3.3. Japan
7.3.3.4. Australia
7.3.3.5. Rest of Asia Pacific
7.4. Latin America
7.4.1. Latin America Automotive Power Modules Market revenue (US$ Million) By Modules Type, 2023-2031
7.4.2. Latin America Automotive Power Modules Market revenue (US$ Million) estimates and forecasts By Vehicle Type, 2023-2031
7.4.3. Latin America Automotive Power Modules Market revenue (US$ Million) by country, 2023-2031
7.4.3.1. Brazil
7.4.3.2. Rest of Latin America
7.5. Middle East & Africa
7.5.1. Middle East & Africa Automotive Power Modules Market revenue (US$ Million) By Modules Type, (US$ Million)
7.5.2. Middle East & Africa Automotive Power Modules Market revenue (US$ Million) estimates and forecasts By Vehicle Type, 2023-2031
7.5.3. Middle East & Africa Automotive Power Modules Market revenue (US$ Million) by country, 2023-2031
7.5.3.1. South Africa
7.5.3.2. GCC Countries
7.5.3.3. Rest of MEA
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Mitsubishi Electric Corporation (Japan)
8.2.2. Toshiba Corporation (Japan)
8.2.3. NXP Semiconductors (Netherlands)
8.2.4. Continental AG (Germany)
8.2.5. Renesas Electronics Corporation (Japan)
8.2.6. Infineon Technologies (Germany)
8.2.7. Fuji Electric Co. (Japan)
8.2.8. Robert Bosch GmbH (Germany)
8.2.9. ON Semiconductor (US)
8.2.10. TMicroelectronics (Switzerland)
8.2.11. Rohm Semiconductor (Japan)
Automotive Power Modules Market By Module Type-
Automotive Power Modules Market By Vehicle Type-
Automotive Power Modules Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
