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Automotive Power Module Packaging Market Size (2024 - 2029)

The automotive power module packaging market is experiencing growth driven by the increasing demand for hybrid electric and electric vehicles, which necessitate advanced power electronics solutions to enhance efficiency and reduce costs. This market expansion is influenced by environmental, economic, and social factors that shape vehicle designs and powertrain choices. However, the lack of standard protocols and the complexity of design and packaging pose challenges, potentially increasing vehicle costs and acting as a constraint on market growth.

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Market Size of Automotive Power Module Packaging Industry

Automotive Power Module Packaging Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 7.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Automotive Power Module Packaging Market Key Players

*Disclaimer: Major Players sorted in no particular order

Automotive Power Module Packaging Market Analysis

The automotive power module packaging market is expected to grow with a CAGR of 7.5%, over the forecast period (2021 - 2026). The demand for sustainable energy is increasing with people exploiting sustainable and clean energy to mitigate the global crisis of fossil energy. The automotive module has seen a steep growth with efforts to popularize hybrid electric vehicle (HEV) and electric vehicle (EV), thus driving the automotive power module packaging market.

  • A number of environmental, economic and social factors are influencing future vehicle designs and powertrain choices. Power semiconductors are the key components in the powertrain systems of electric vehicles (EVs), hybrid electric vehicles (HEVs) and plug-in hybrid vehicles (PHEVs). As the number of electric and electrified vehicles (HEV and PHEV) increases, demand for sophisticated power electronics solutions reducing electrical losses, system weight and total cost of ownership will increase.
  • For instance, in January 2018, Mitsubishi Electric Corporation announced that it has developed a 6.5 kV full silicon carbide (SiC) power semiconductor module that is believed to offer the highest power density among other power semiconductors modules rated from 1.7 kV to 6.5 kV. It is expected that the module to lead to smaller and more energy-efficient power equipment for high-voltage railcars and electric power systems.
  • Moreover, growing focus by consumers and OEMs on minimizing power losses, increasing power density, and maximizing power savings are driving the growth of this market.
  • A lack of standard protocols for the development of power modules and the rising complexity in the design and packaging results in the rise of the overall cost of the vehicle, which is considered as the key restraining factor for the growth of this market.

Automotive Power Module Packaging Industry Segmentation

Packaging of automotive power modules needs to meet high-reliability standards like harsh operating environment (which includes high ambient temperature range, high operating temperature, temperature excursion, and thermal shock), mechanical vibration and shock, and frequent power surging. To ensure reliable operation of the power module, packaging of the power modules has been intensively modified in terms of packaging materials and processing as well as in terms of reliability design. The Electric Vehicle and Hybrid Electric Vehicle (EV/HEV) industry’s demand for high power density and mechatronics integration is the main driver for automotive power module packaging market.

By Type
Intelligent Power Module (IPM)
SiC Module
GaN Module
Others (IGBT,FET)
Geography
North America
Europe
Asia-Pacific
Rest of the World
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Automotive Power Module Packaging Market Size Summary

The automotive power module packaging market is experiencing significant growth, driven by the increasing demand for sustainable energy solutions and the rise of hybrid and electric vehicles. As the automotive industry shifts towards electrification, power semiconductors have become crucial components in the powertrain systems of electric vehicles (EVs), hybrid electric vehicles (HEVs), and plug-in hybrid vehicles (PHEVs). This shift is fueled by the need for sophisticated power electronics solutions that minimize electrical losses, reduce system weight, and lower the total cost of ownership. Despite the advancements, challenges such as the lack of standard protocols and the complexity of design and packaging continue to impact the market's growth trajectory.

The Asia-Pacific region is poised to dominate the automotive power module packaging market, supported by robust automotive infrastructure and a surge in electric vehicle sales. The region's growth is further bolstered by increased investment in developing automotive power modules and a rising demand for safety features in vehicles. Governments in countries like China and India are actively promoting alternative fuel engines and green vehicles to combat pollution, which in turn drives the demand for advanced power module packaging. The market is highly competitive, with major players like Amkor Technology, Kulicke & Soffa, and Infineon Technologies leading the charge in innovation and development to meet the evolving needs of the automotive industry.

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Automotive Power Module Packaging Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Introduction to Market Drivers and Restraints

    3. 1.3 Market Drivers

      1. 1.3.1 Electric Vehicle and Hybrid Electric Vehicle to Drive the Automotive Power Module Packaging

      2. 1.3.2 Growing Demand Energy Efficient Battery Powered Devices.

      3. 1.3.3 Increasing Stringency of Emission Standards

    4. 1.4 Market Restraints

      1. 1.4.1 Lack of Standard Protocols for the Development of Power Modules

      2. 1.4.2 Slow Adoption of New Technologies Derailing Innovation

    5. 1.5 Industry Value Chain Analysis

    6. 1.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.6.1 Bargaining Power of Buyers/Consumers

      2. 1.6.2 Bargaining Power of Suppliers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Technology Snapshot

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Intelligent Power Module (IPM)

      2. 2.1.2 SiC Module

      3. 2.1.3 GaN Module

      4. 2.1.4 Others (IGBT,FET)

    2. 2.2 Geography

      1. 2.2.1 North America

      2. 2.2.2 Europe

      3. 2.2.3 Asia-Pacific

      4. 2.2.4 Rest of the World

Automotive Power Module Packaging Market Size FAQs

The Automotive Power Module Packaging Market is projected to register a CAGR of 7.5% during the forecast period (2024-2029)

Amkor Technologies, Infineon Technologies, STMicroelectronics, Fuji Electric Co. Ltd. and Toshiba Electronics Device & Storage Corporation are the major companies operating in the Automotive Power Module Packaging Market.

Automotive Power Module Packaging Report Snapshots

Automotive Power Module Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)