According to the report recently release by researchandmarkets, the car power module business is going to have CAGR 7.5% during the 2021-2026, leading by the demand in sustainable energy, which is increasing with people exploiting sustainable and clean energy to mitigate the global crisis of fossil energy.
The key market trends include: Electric Vehicle and Hybrid Electric Vehicle to Drive the Automotive Power Module Packaging, Asia-Pacific is Expected to Register Highest Growth Rate
Further more, many 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.
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.
But, because of lacking 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.