Pune, India, January 30, 2018 /MRFR Press Release/- Market Research Future published a half-cooked research report on Global Automotive Power Modules Market. The global Automotive Power Modules Market is expected to witness ~21% CAGR during the period, 2018 to 2023.
The inverter, converter and battery management systems are the essential power modules used in the automotive industry. The use of power module helps to enhance performance, safety, increase mileage, improve battery efficiency and driving experience. The growing uses and the advancement in electric and hybrid electric vehicles are imposing new standards in electrical component and systems, which have the ability to work in non-conventional environments and outside non-conventional temperature range. The main features of automotive power modules are high reliability, low power loss, compact and light weight package. The electric drive systems of vehicles contain various power module semiconductor switches such as DC to DC converters, DC to AC inverters and insulated gate bipolar transistors (IGBTs).
The increasing demand for connected vehicles, increasing concern over driver and vehicle safety, growing demand for environment friendly vehicles, and the increasing adoption of power modules in passenger and commercial vehicles from developing countries like Africa, China and India are considered as the key driving factors for the growth of this market.
The increasing uses of power modules component in automobiles and increasing production of electric vehicle in countries such as China, Germany, Norway, and Japan drive the growth of Automotive Power Modules market. In addition, the support from governments of various countries for the setup of power modules infrastructure for electric vehicles, increasing purchasing power of people and changing lifestyle are set to accelerate the growth of this market during the study period.
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Drivers: Automotive Power Modules
Market Research Analysis
In terms of region, the global market for the Automotive Power Modules is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is estimated to hold the largest market share during the forecast period owing to growing production of automobiles from China, India, Kores, and Japan. Moreover, growing population and rising purchasing power of people are expected to boost the demand for Automotive Power Modules market in this region. Furthermore, the growing industrilization and infrastructure development across the region accelerate the growth of this market.
Europe is estimated to account for a considerable share in the global Automotive Power Modules market during forecast period owing to the presence of key playes such as Infineon Technologies (Germany), and Continental AG (Germany) are contributing in the growth of this market.
Scope of the Report
This study provides an overview of the global Automotive Power Modules market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Automotive Power Modules market by solutions, system, vehicle type, propulsion, and region.
The prominent players in the global Automotive Power Modules Market include STMicroelectronics (Switzerland), ON Semiconductor (US), Robert Bosch GmbH (Germany), Fuji Electric Co. (Japan), Infineon Technologies (Germany), Renesas Electronics Corporation (Japan), Continental AG (Germany), NXP Semiconductors (Netherlands), Toshiba Corporation (Japan), Mitsubishi Electric Corporation (Japan), and Rohm Semiconductor (Japan)