How big is the Automotive Power Modules Market?

The Automotive Power Modules Market size is expected to reach USD 9.71 billion in 2024 and grow at a CAGR of 13.5% to reach USD 18.42 billion by 2029. Read More

What is the current Automotive Power Modules Market size?

In 2024, the Automotive Power Modules Market size is expected to reach USD 9.71 billion. Read More

Who are the key players in Automotive Power Modules Market?

Continental AG, Robert Bosch GmbH, Denso Corporation, Hitachi Automotive Systems Ltd, Mitsubishi Electric Corporation and Valeo are the major companies operating in the Automotive Power Modules Market. Read More

Which is the fastest growing region in Automotive Power Modules Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Automotive Power Modules Market?

In 2024, the Asia Pacific accounts for the largest market share in Automotive Power Modules Market. Read More

What years does this Automotive Power Modules Market cover, and what was the market size in 2023?

In 2023, the Automotive Power Modules Market size was estimated at USD 8.40 billion. The report covers the Automotive Power Modules Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Power Modules Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Automotive Power Modules Market Size & Share Analysis - Industry Research Report

Automotive Power Modules Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)

The Automotive Power Modules Market Report is Segmented by Electric Propulsion Type (full Hybrid Vehicle, Plug-In Hybrid Vehicle, and Battery Electric Vehicle), Vehicle Type (passenger Cars and Commercial Vehicles), and Geography (North America, Europe, Asia-Pacific, South America, Middle-East and Africa). The Report Offers Market Size and Forecast in Value in USD.

Automotive Power Modules Industry Overview

The automotive power modules market is majorly led by Continental AG, Robert Bosch GmbH, Denso Corporation, Hitachi Automotive Systems Ltd, and Mitsubishi Electric Corporation, Valeo, among others.

The companies are expanding their presence in the market by engaging in mergers and acquisitions and opening new plants to suffice the power module demand. For instance-

In July 2023, the German automotive supplier Bosch announced to allocate an investment of approximately USD 2.8 billion into hydrogen fuel cell technology between 2021 and 2026. It anticipates generating around USD 5 billion in sales from this technology by the year 2030.
In May 2023, Renault Group and Valeo announced a collaborative venture aimed at enhancing the electrical and electronic architecture for the Group's upcoming vehicle models. This joint effort will focus on implementing the Software Defined Vehicle (SDV) architecture, which will empower vehicles to consistently stay current throughout their lifespan and seamlessly integrate new features without requiring hardware modifications.
In February 2023, Onsemi signed an agreement with Volkswagen to provide high-voltage silicon carbide chips and modules. These components will serve as the driving force behind the traction inverters utilized in Volkswagen's versatile platform for electric vehicles.