Market Research Future Insights:
The three most important power modules utilised in the automotive sector are inverters, converters, and battery management systems. When a power module is used, performance, safety, mileage, battery economy, and driving enjoyment are all improved. New standards for electrical components and systems that can operate in unusual environments and outside of unusual temperature ranges are being imposed by the expanding uses and advancements in electric and hybrid vehicles. High reliability, low power loss, a compact and lightweight package, and high efficiency are the main characteristics of automotive power modules. Vehicles' electric drive systems use a variety of power module semiconductor switches, including insulated gate bipolar transistors, DC to DC converters, and DC to AC inverters.
The main factors influencing the growth of this market are thought to be the rising demand for connected vehicles, rising driver and vehicle safety concerns, rising demand for environmentally friendly vehicles, and the rising adoption of power modules in passenger and commercial vehicles from developing nations like China, India, and Africa.
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The market for automotive power modules is expanding as a result of rising production of electric vehicles in nations like China, Germany, Norway, and Japan, as well as rising use of power module components in automobiles. Additionally, the increasing purchasing power of people, changing lifestyles, and support from governments of various nations for the establishment of power module infrastructure for electric vehicles are expected to accelerate the growth of this market during the study period.
Regional Analysis:
The Automotive Power Modules global market is divided into four geographic segments: North America, Europe, Asia-Pacific, and the Rest of the World. Due to rising auto production in China, India, Korea, and Japan, the Asia-Pacific region is anticipated to hold the biggest market share over the projection period. Additionally, it is anticipated that the region's need for Automotive Power Modules would increase due to the growing population and increased purchasing power of the local populace. Additionally, the region's expanding industrialization and infrastructure expansion speed up market expansion.
The presence of major players like Infineon Technologies (Germany) and Continental AG (Germany) are expected to contribute to the growth of the global Automotive Power Modules market during the forecast period, and Europe is expected to hold a sizeable share of this market.
Market Segmentation:
In this analysis, four market categories across four geographical areas are tracked to provide an overview of the global market for automotive power modules. The study of key competitors includes a five-year trend analysis of annual trends that emphasises market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The research also includes a prediction, concentrating on the market prospects for each region over the following five years. The global market for automotive power modules is segmented in this study's scope according to solutions, systems, vehicle types, propulsion, and geographic locations.
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By Module Type it is further divided as:
- Intelligent Power Module (IPM)
- Power Integrated Module (PIM)
By Vehicle Type it is further divided as:
- Passenger Cars
- Commercial Vehicles
By Propulsion it is further divided as:
- ICE Vehicle
- Electric Vehicle
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in electric vehicle
By Regions it is further divided as:
- North America
- Asia-Pacific
- Europe
- Rest of the World
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