Automotive Power Modules Market Research Report – Global Forecast till 2027

Automotive Power Modules Market Research Report: Information by Module Type (Intelligent Power Module (IPM) and Power Integrated Module (PIM), Vehicle Type (Passenger Cars and Commercial Vehicle), Propulsion, and Region - Global Forecast till 2027

ID: MRFR/AM/5833-HCR | February 2021 | Region: Global | 100 pages

Automotive Power Modules Market Overview


During the ongoing forecast period of 2021-2028, the automotive power modules market value is expected to rise and attain a good market value by the end of the forecast period. During the period, the market is likely to expand at a CAGR of 21%.


COVID 19 Analysis


Since the novel coronavirus disease has come into the picture and been recognized for the adversity and havoc that it is creating, the markets, businesses, corporate world, and individuals have been facing a lot of issues that are hampering their ability to function and produce as per the best of their capability. Owing to the ability of the pandemic to bring major changes in the lives of the common man followed by the changing lifestyle choices and preferences of the consumers, the pandemic has accelerated diversity like never before.


The global governments are taking various steps that will help meet the vibrant needs of the target audience that is a part of various global locations across the globe. The rising investments in research and development are rendering great benefits that will help in the market reviving its trends and take a step forward towards growth during the forecast period. Also, the prominent market players are opening their doors for opportunities like mergers, acquisitions, collaborations, and joint ventures that will be recognized as impactful steps for the markets in the domestic and international markets.


Competitive Landscape


The most prominent major key players in the automotive power modules market all across the globe are mentioned below:



  • Mitsubishi Electric Corporation (Japan)

  • Toshiba Corporation (Japan)

  • NXP Semiconductors (Netherlands)

  • Continental AG (Germany)

  • Renesas Electronics Corporation (Japan)

  • Infineon Technologies (Germany)

  • Fuji Electric Co. (Japan)

  • Robert Bosch GmbH (Germany)

  • ON Semiconductor (US)

  • STMicroelectronics (Switzerland)

  • Rohm Semiconductor (Japan)


These major key players use various strategies to sustain their market position in the automotive power modules market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the automotive power modules market all across the globe.


Recent Developments



  • The most prominent major key players are highly investing in mergers and acquisitions, joint ventures, and new products.

  • Mitsubishi Electric Corporation (Japan) is spending a considerable sum of money on research and development to get an upper edge over its competitors. This will help the company on enhancing its sales revenue.

  • In 2018, for constructing automobile energy modules like built-in twin chargers and electricity inventors, Toledo Machining Plant in Ohio has been introduced by FCA. These products will contain a DC-DC converter and onboard charger for Jeep Wrangler PHEV.

  • In 2019, an industrial guidance enterprise of a Japan-based company called Hitachi Automotive Systems Ltd. has been acquired by a German producer of braking systems called Knorr-Bremse AG. This acquisition will benefit the company in terms of more sales revenue.


Market Dynamics


Drivers


The automotive power modules market size is expecting a huge rise in the growth rate followed by excessive growth during the forecast period. Automotive power modules are being recognized for their splendid use in electric and hybrid vehicles. These help in providing the vehicles with safety measures for the physical containment of various power components. These include power semiconductors as devices amongst others. These are also called dies as are typically soldered on any electronic substrate that helps in carrying the power semiconductors. These help in providing both electrical and thermal contact followed by ensuring availability of electric insulation on the requirement.


Restraints


The market is witnessing a lack of preferred protocols that are important for the crucial improvements of strength modules. Also, the rising degree of complexity in the formatting consequences in the upward thrust of the standard vehicle pricing is being regarded as one of the key market restraints that are likely to pose challenges for the market while on its way of growth especially during the forecast period that will be ending in 2028. The market players are on the way to developing methods for a crucial adoption of the strength modules likewise strength modules in the automotive areas across various global regions.


Technology Analysis


The energy module of the market is emerging as a necessary function that is largely helping in minimizing the electricity losses followed by the enhancement of battery efficiency. Also, the growth in electricity density and mileage extension are some of the added technological factors that are all set to benefit the market for growth and expansion during the forecast period. This is being viewed as an essential inclusion of the automobile industry. The makers of these modules and producers of unique automobile gears issue arms that are imperative for the enhancement of automobile performance and further, promise a higher degree of safety and efficiency.


Study Objectives



  • Understanding the basis of the market functioning and dynamics during the forecast period will help in analyzing the reason behind the predicted figures regarding the CAGR and possible attainable revenue of the market.

  • To study the functions of the market and the basis on which the global market has been segmented to meet the growing needs of the global target audience. Also, to understand the potential held by the market segments to maintain a balance between the developing demand and supply.

  • To draw a competitive graph amongst the prominent market players based on their investment in the research and development activities and the recent developments that were undertaken by them during the forecast period.


Market Segmentation


The automotive power modules market has been divided all across the globe based on the module type, vehicle type, propulsion, and region.


Based on the Module Type


The market has been divided all across the globe based on the module type into power integrated module (PIM) and intelligent power module (IPM).


Based on the Vehicle Type


The market has been divided all across the globe based on the vehicle type into commercial vehicles and passenger cars.


Based on the Propulsion


The market has been divided all across the globe based on the propulsion into electric vehicles and ICE vehicles. The electric vehicles are further sub-divided into a hybrid electric vehicle, plug-in electric vehicle, and battery electric vehicle.


Based on the Region


The market has been divided worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.


Regional Analysis


The automotive power modules market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-emerging nation, the largest market share in the global market is held by the Asia-Pacific region owing to increasing sales of electric vehicles coupled with increasing development in automotive infrastructure drives the market demand in this region. Moreover, increasing demand for electrification in vehicles is another factor that creates growth opportunities in this region.


The second-largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico that drive the market demand in this region. Moreover, increasing competition among various major key players coupled with an increasing investment made by the public and private sector are some factors that create more market demand in this region.


The third-largest market share in the global market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that creates more market demand for automotive vehicles in this region. Increasing investment done by various major key players is yet another factor that drives the market demand in this region.


The Latin American region and the Middle East and African region show the least market share due to the presence of low infrastructure in both these regions. Low per capita income is another contributing factor that restricts the market growth in these regions.


Report Overview


The report aims to highlight the important market factors that will be responsible for the global growth during the forecast period of 2021-2028. The report aims to cover the performance of the market segments that will help in catering to the needs of the global target audience and further, discuss the rising competition in the market by the efforts of the prominent players of the market.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   21% CAGR (2020 to 2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Module Type, Vehicle Type and Propulsion
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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)
  Key Market Opportunities

  • Increasing stringency of emission standards
  • Growing demand energy efficient battery powered devices
  •   Key Market Drivers   Demand for connected vehicles and need for eco-friendly vehicles


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    Frequently Asked Questions (FAQ) :


    The global automotive power modules market is predicted to grow at a 21% CAGR between 2018- 2023.

    Asia Pacific will lead the global automotive power modules market.

    Demand for connected vehicles and need for eco-friendly vehicles are the key factors driving the global automotive power modules market.

    High cost and lack of standard protocol may limit the global automotive power modules market growth.

    Key players profiled in the 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).