Market Share of Automotive Power Modules Industry
The automotive power modules market is majorly led by Continental AG, Robert Bosch GmbH, Denso Corporation, Hitachi Automotive Systems Ltd, and Mitsubishi Electric Corporation, Valeo, among others.
The companies are expanding their presence in the market by engaging in mergers and acquisitions and opening new plants to suffice the power module demand. For instance-
- In July 2023, the German automotive supplier Bosch announced to allocate an investment of approximately USD 2.8 billion into hydrogen fuel cell technology between 2021 and 2026. It anticipates generating around USD 5 billion in sales from this technology by the year 2030.
- In May 2023, Renault Group and Valeo announced a collaborative venture aimed at enhancing the electrical and electronic architecture for the Group's upcoming vehicle models. This joint effort will focus on implementing the Software Defined Vehicle (SDV) architecture, which will empower vehicles to consistently stay current throughout their lifespan and seamlessly integrate new features without requiring hardware modifications.
- In February 2023, Onsemi signed an agreement with Volkswagen to provide high-voltage silicon carbide chips and modules. These components will serve as the driving force behind the traction inverters utilized in Volkswagen's versatile platform for electric vehicles.
Automotive Power Modules Market Leaders
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Continental AG
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Robert Bosch GmbH
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Denso Corporation
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Hitachi Automotive Systems Ltd
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Mitsubishi Electric Corporation
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Valeo
*Disclaimer: Major Players sorted in no particular order
