(MENAFN- Market Press Release) October 15, 2025 3:25 am - The automotive power modules market was valued at USD 8.54 Billion in 2024 and is expected to register a revenue CAGR of 17.4%.

October 15, 2025 - Rising need for longer driving range and higher energy efficiency is a major driver of revenue growth of the market as automakers increasingly adopt advanced power electronics to enhance overall vehicle performance. Electric and hybrid vehicles demand efficient power conversion systems to optimize battery usage and extend driving range, leading to greater adoption of compact, high-efficiency power modules. These modules minimize energy loss, reduce heat generation, and improve power density. It helps manufacturers to achieve better mileage without increasing battery size or weight.

Additionally, growing consumer expectations for energy-efficient vehicles and stricter government regulations on emissions are compelling automakers to integrate more sophisticated power modules, further accelerating market growth. In March 2025, onsemi has launched its first-generation 1200V silicon carbide (SiC) metal-oxide semiconductor field-effect transistor (MOSFET)-based SPM 31 intelligent power modules (IPMs). The EliteSiC SPM 31 IPMs offer superior energy efficiency and power density within a compact design, outperforming Field Stop 7 IGBT technology. This innovation enables reduced overall system costs, making it one of the most cost-effective and high-performing solutions currently available in the market.

However, high cost of wide-bandgap semiconductors, such as silicon carbide (SiC) and gallium nitride (GaN), is restraining revenue growth of the automotive power modules market by limiting their widespread adoption, particularly in mid-range and economy vehicles. These materials offer superior efficiency, higher temperature tolerance, and improved power density compared to traditional silicon-based semiconductors, but their complex manufacturing processes and lower production yields make them significantly more expensive. The high cost of raw materials, advanced fabrication equipment, and packaging technologies further adds to overall production expenses and limits the revenue growth of the market.

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Segments Market Overview and Growth Insights:
Based on the semiconductor material, the automotive power modules market is segmented into silicon IGBT, silicon MOSFET, Silicon Carbide (SiC) MOSFET, GaN HEMT, and others.

The Silicon IGBT segment accounted for the largest market share in 2024, driven by increasing demand for these semiconductors in automotive power modules due to their established efficiency, cost-effectiveness, and reliability in high-power applications. Silicon IGBTs have remained the benchmark technology for power conversion and switching in electric and hybrid vehicles, leading to their extensive adoption among OEMs and Tier 1 suppliers. In August 2022, Renesas Electronics Corporation, a leading semiconductor solutions provider, launched a new generation of Silicon IGBTs featuring a compact design and lower power losses. These AE5-generation IGBTs, produced at the company's Naka facility in Japan, are optimized for use in next-generation electric vehicle (EV) inverters.

Regional Market Overview And Growth Insights:
The Asia Pacific market held the largest revenue share in 2024, supported by a robust automotive manufacturing ecosystem, rapid electrification of vehicles, and favorable government initiatives encouraging clean mobility. Countries such as China, Japan, South Korea, and India are at the forefront of EV production and investments in advanced semiconductor technologies. According to the International Energy Agency (IEA), China sold over 11 million electric cars in 2024-exceeding the global sales recorded just two years earlier-with one in every ten cars on its roads now electric. This surge in EV adoption is driving significant demand for power modules used in traction inverters, battery management, and charging systems, thereby fueling revenue growth of the market.

Competitive Landscape and Key Competitors:
The Automotive Power Modules market is characterized by a fragmented structure, with many competitors holding a significant share of the market. List of major players included in the market report are:

oInfineon Technologies AG
oMitsubishi Electric Corporation
oFuji Electric Co., Ltd.
oHitachi Energy
oROHM Semiconductor
oSTMicroelectronics N.V
oON Semiconductor
oWolfspeed, Inc.
oSEMIKRON Danfoss
oDynex Semiconductor Ltd
oMACMIC
oBosch Mobility Solutions
oDENSO Corporation
oContinental AG
oValeo Group
oVicor Corporation

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Major Strategic Developments By Leading Competitors:
Wolfspeed, Inc: On 22 January 2025, Wolfspeed, Inc., a global leader in silicon carbide technology, unveiled its new Gen 4 technology platform, designed to enhance durability and efficiency while lowering system costs and reducing development time. This platform is engineered to simplify switching behaviour and overcome design challenges typically faced in high-power applications. Gen 4 also establishes a long-term roadmap across Wolfspeed's product portfolio, encompassing power modules, discrete devices, and bare die solutions. The new products are available in 750V, 1200V, and 2300V voltage classes.

Vicor Corporation: On October 16, 2024, Vicor Corporation launched three automotive-grade power modules designed to offer exceptional power density and facilitate the transition to 48V zonal electrical architectures. The BCM6135, DCM3735, and PRM3735 modules enable efficient 48V power distribution within vehicles, supporting 800V-to-48V conversion, 48V voltage regulation, and 48V-to-12V conversion for conventional 12V subsystems. These modules can be integrated to increase total power output, resulting in significant reductions in overall power system weight and improved vehicle efficiency.
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Navistrat Analytics has segmented global Automotive Power Modules market on the basis of semiconductor type, integration level, propulsion type, vehicle type, application and region:
.Semiconductor Type (Revenue, USD Billion; 2022-2032)
oSilicon IGBT
oSilicon MOSFET
oSilicon Carbide (SiC) MOSFET
oGaN HEMT
oOthers

.Integration Level Outlook (Revenue, USD Billion; 2022-2032)
oNormal Power Module
oIntelligent Power Module (IPM)
oHighly Integrated E-Power Stage

.Propulsion Type (Revenue, USD Billion; 2022-2032)
oBattery Electric Vehicles (BEV)
oPlug-in Hybrid Electric Vehicles (PHEV)
oHybrid Electric Vehicles (HEV)
oFuel Cell Electric Vehicles (FCEV)

.Application (Revenue, USD Billion; 2022-2032)
oTraction Inverter
oOn-Board Charger (OBC)
oDC-DC Converters
oThermal & Comfort Loads
oOthers

.Vehicle Type (Revenue, USD Billion; 2022-2032)
oPassenger Vehicles
oCommercial Vehicles
a commercial (LCV)
b trucks & buses
c trucks & coaches
oOff-highway

.Regional Outlook (Revenue, USD Billion; 2022-2032)
oNorth America
oAsia Pacific
oLatin America
oMiddle East & Africa

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