Global Power Module for Electric Vehicle Market Growth 2024-2030

Global Power Module for Electric Vehicle Market Growth 2024-2030

According to our LPI (LP Information) latest study, the global Power Module for Electric Vehicle market size was valued at US$ 1349.6 million in 2023. With growing demand in downstream market, the Power Module for Electric Vehicle is forecast to a readjusted size of US$ 1831.8 million by 2030 with a CAGR of 4.5% during review period.

The research report highlights the growth potential of the global Power Module for Electric Vehicle market. Power Module for Electric Vehicle are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Power Module for Electric Vehicle. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Power Module for Electric Vehicle market.

To control the flow of energy, the switching electronic circuits are used. These switching electronic circuits are called power electronics. Power electronics are also considered for the conversion of electric power. Such conversions are performed by semiconductor devices like diodes, transistors and thyristors etc. Power electronics devices have several advantages including optimum forward and reverse backing capabilities, simplified circuits, compact designs etc. Moreover, power electronics find its applications in connection of renewable energy resources to power grids, transportation in electric trains, motor drives and lighting. The major use of power electronics devices is heat sinking as well as soft starting of equipment deploying power electronic devices. This report only covers electric vehicles segment.

Global EV sales continued strong. A total of 10,5 million new BEVs and PHEVs were delivered during 2022, an increase of +55 % compared to 2021. China and Europe emerged as the main drivers of strong growth in global EV sales. In 2022, the production and sales of new energy vehicles in China reach 7.0 million and 6.8 million respectively, a year-on-year increase of 96.9% and 93.4%, with a market share of 25.6%. The production and sales of new energy vehicles have ranked first in the world for eight consecutive years. Among them, the sales volume of pure electric vehicles was 5.365 million, a year-on-year increase of 81.6%. In 2022, sales of pure electric vehicles in Europe will increase by 29% year-on-year to 1.58 million.

Key Features:

The report on Power Module for Electric Vehicle market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Power Module for Electric Vehicle market. It may include historical data, market segmentation by Type (e.g., GaN, SiC), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Power Module for Electric Vehicle market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Power Module for Electric Vehicle market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Power Module for Electric Vehicle industry. This include advancements in Power Module for Electric Vehicle technology, Power Module for Electric Vehicle new entrants, Power Module for Electric Vehicle new investment, and other innovations that are shaping the future of Power Module for Electric Vehicle.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Power Module for Electric Vehicle market. It includes factors influencing customer ' purchasing decisions, preferences for Power Module for Electric Vehicle product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Power Module for Electric Vehicle market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Power Module for Electric Vehicle market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Power Module for Electric Vehicle market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Power Module for Electric Vehicle industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Power Module for Electric Vehicle market.

Market Segmentation:

Power Module for Electric Vehicle market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
GaN
SiC
Others

Segmentation by application
HEV
EV
PHEV

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Mitsubishi Electric
Fuji Electric
SEMIKRON
ON Semiconductor
Renesas Electronics
Vishay Intertechnology
Texas Instruments
Toshiba
Stmicroelectronics
NXP Semiconductors
Microsemi Corporation

Key Questions Addressed in this Report

What is the 10-year outlook for the global Power Module for Electric Vehicle market?

What factors are driving Power Module for Electric Vehicle market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Power Module for Electric Vehicle market opportunities vary by end market size?

How does Power Module for Electric Vehicle break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.