Another report released by QY Research in the domain of automobile and transportation titled, “Global Automotive Power Modules Market Report, History and Forecast 2014-2025,” which highlights the detailed analysis of the key market drivers, opportunities, trends, and restraints. The report also predicts the present and future market scenario of the global automotive power modules market.
The analysts at the QY Research predict that the global automotive power modules market will touch the valuation at US$2814.92 mn by 2025 from US$942.06 mn in the year 2018. The market is estimated to register a CAGR of 16.93% between 2019 and 2025.
Global Automotive Power Modules Market: Drivers and Restraints
The growing demand for connected vehicles, rising concern over vehicle and driver safety, increasing demand for eco-friendly vehicles, and escalating adoption of power modules in commercial and passenger vehicles are aiding the growth of the market. The mounting production of electric vehicles and the growing usage of power modules components in automobiles are the factors boosting the growth of the market.
In addition, the increasing severity of fuel-efficiency norms and elevating concerns about the negative impact of mechanical systems within vehicles have resulted in uptake of electrical alternatives, which is substantially driving the market growth.
However, power modules have increased the cost of vehicles, which could hamper the growth of the market during the forecast period.
Global Automotive Power Modules Market: Forecast by Segments
The global automotive power modules market is segmented into applications and product type. The product type segment includes SiC Modules and IGBT Modules. The application segment includes plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV).
Global Automotive Power Modules Market: Regional Outlook
Asia Pacific is likely to grab remarkable market share during the forecast period due to increasing automotive infrastructure and growing sales of electric vehicles around the world. In addition, the growing demand for safety feature in vehicles and rising investment by private and public players to develop automotive modules such as integrated dual charger and power inverter in this region will enhance the growth of the market in this region. Europe is also expected to gain significant market share due to the presence of numerous players in this region.
Global Automotive Power Modules Market: Key Players
Some of the global leading manufactures operating in the automotive power modules market are Starpower Semiconductor, Infineon, BYD, Mitsubishi Electric, ROHM, Fuji Electric, Danfoss, ON Semiconductor, Semikron, STMicroelectronics, and Hitachi Power Semiconductor Device.
Global Automotive Power Modules Market: Competitive Landscape
Infineon Technologies introduced the new 80 V DC-DC buck LED driver IC ILD8150/E on July 3, 2019 that provides excellent dimming performance. Companies are focusing on innovative technologies to develop their product and gain consumer attraction to remain competitive in the market.
Full Report Overview@ https://www.qyresearch.com/index/detail/1113516/global-automotive-power-modules-market