Austin, Aug. 09, 2024 (GLOBE NEWSWIRE) -- The Automotive Power Module Market Share is projected to reach USD 28.02 billion by 2032 and grow at a CAGR of 18.88% over 2024-2032.
Get a Sample Report of Automotive Power Module Market @ https://www.snsinsider.com/sample-request/2112
Market Scope:
Given the continuous attention to improved vehicle efficiency, performance, and reduced emissions, sophisticated power electronics integration is inevitable. High-power and efficient power modules are required for the increasing adoption of advanced driver-assistance systems and autonomous vehicles. As electrical architectures in modern vehicles continue to grow in complexity, stringent government regulations over fuel economy and emissions call for ever more of these components.
Growth Opportunities: Highlighting untapped areas promoting key revenue pockets.
One of the key areas pertains to the development of highly integrated and miniaturized power modules, which could turn out to be compatible with the emerging scene of electric and hybrid vehicles.
Further, the use of advanced cooling technologies and materials in module design can contribute to substantial improvements in module performance and life an issue of serious concern in high-power Propulsions. The junction of power electronics with artificial intelligence opens a very promising avenue for predictive maintenance, optimized energy management, and improved vehicle performance.
Automotive Power Module Market Report Scope & Overview:
| Report Attributes | Details |
| Market Size in 2023 | USD 5.92 billion |
| Market Size in 2032 | USD 28.02 billion |
| CAGR (2024-2032) | 18.88% |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Market Driver |
|
Do you need any customization research on Automotive Power Module Market, Speak to Our Analyst @ https://www.snsinsider.com/enquiry/2112
Key Segment Analysis:
The automotive power modules market is growing rapidly, largely driven by the increasing demand from electric and hybrid vehicles.
The two most prominent segments governing the market shape are module type and vehicle type. IPMs are dominating the present market with a 65% share, due to advanced features and higher efficiency. However, Power Integrated Modules are expected to grow with a CAGR of 22 % because these are cost-effective and their Propulsion is gaining traction in entry-level vehicles.
By vehicle type, passenger cars have the highest share of 70% of the market, while commercial vehicles are expected to grow faster at a CAGR of 21.05% because this segment also trends toward electrification.
The APAC region holding a significant market share of 45% in 2023 is the growth engine of the automotive power modules market.
The growth in the automotive industry here and key manufacturing centers based in China and Japan are providing fodder to this leadership. The rapid surge in electric and hybrid vehicle adoption, coupled with stringent emission norms, is creating a huge demand for efficient power modules. Furthermore, the availability of a strong supply chain for semiconductor components and a cost-competitive landscape for manufacturing act to make APAC a preferred destination to invest in by global players in the automotive power module market.
The automotive power module market is captured by 65% of Tier-1 suppliers, which partners with OEMs and extensive R&D expertise.
However, as we speak, software companies and specialized power electronics oligopolies have been gaining ground and hence, holding 20%, and 10% of market each. The smaller regional players, scattered across the world, own the last 5% of the market. The major arenas of battle are the concepts of technological innovation, cost reduction, and supply chain resilience. Despite these trends, Asia Pacific remains the key center of electric power modules production accounting for 45%.
Key Trends:
- At this moment, one of the fast-changing markets is that of automotive power modules, impelled by the expanding electric vehicle industry. Trends in this domain include the incrementing adoption of WBG semiconductors, especially silicon carbide.
- It would, therefore, increase power density, efficiency, and thermal performance by about 30% compared to traditional silicon-based types.
- Also, other advanced packaging technologies are to be integrated in order to shrink the size of power modules and improve their reliability.
- Yet another need emerging fast in the market is that of high-voltage power modules, primarily driven by higher battery voltage in EVs, with a foreseen increase of around 45% in the next five years.
Buy an Enterprise User PDF of Automotive Power Module Market Outlook Report 2024-2032 @ https://www.snsinsider.com/checkout/2112
Key Takeaways:
- The e-mobility transfiguration gives a powerful propulsion for the automotive power modules market. Despite being small, these elements that regulate power are becoming the foundation of smart power distribution systems.
- The market is showcased by a significant rise in demand, which has been stimulated by higher power density, fuel efficiency enhancement, and emission reduction mandates. Silicon carbide (SiC) technology is becoming more popular among the market players owing to its better than the silicon figures.
- The role of advanced thermal management systems integration is regarded as one of the technologies to enable module performance and decrease a lifespan.
- As the automotive industry shifts to EV's propulsion segment, the automotive power modules market is all set to bring about a major expansion not just for current developments but also for innovation and technological advancement.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Automotive Power Module Market Segmentation, By Module Type
- Intelligent Power module
- Power Integrated module
8. Automotive Power Module Market Segmentation, By Propulsion
- Electric vehicles
- ICE vehicles
9. Automotive Power Module Market Segmentation, By Vehicle Type
- Passenger cars
- Commercial vehicles
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
Access Complete Report Details @ https://www.snsinsider.com/reports/automotive-power-modules-market-2112
About SNS Insider
At SNS Insider, we believe that businesses should have access to the best market intelligence and insights, regardless of their size or industry. That's why we offer a range of solutions tailored to meet the unique needs of each client, from startups to big corporations. With a passion for our work and an unwavering commitment to delivering value, we are dedicated to helping our clients achieve their full potential.
