The electric vehicle (ev) charger converter module global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electric Vehicle (EV) Charger Converter Module Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The electric vehicle (EV) charger converter module market size has grown exponentially in recent years. It will grow from $2.99 billion in 2023 to $3.68 billion in 2024 at a compound annual growth rate (CAGR) of 23%. The growth in the historic period can be attributed to growing demand for electric vehicles, expansion of charging infrastructure, government incentives and policies, increasing consumer awareness about environmental sustainability, growing network of charging stations.
The electric vehicle (EV) charger converter module market size is expected to see exponential growth in the next few years. It will grow to $8.46 billion in 2028 at a compound annual growth rate (CAGR) of 23.1%. The growth in the forecast period can be attributed to continued improvements in EV battery, expansion of fast charging networks, rising investments in renewable energy, rapid growth in electric vehicle sales, expansion of electric vehicle fleets in commercial. Major trends in the forecast period include adoption of electric vehicles, innovation in power semiconductor modules, silicon carbide (SiC) technology, integration with smart grids, integration of smart charging solutions.
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Scope Of Electric Vehicle (EV) Charger Converter Module Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electric Vehicle (EV) Charger Converter Module Market Overview
Market Drivers –
A surge in demand for charging infrastructure is expected to propel the growth of the electric vehicle (EV) charger converter module market going forward. Charging infrastructure refers to the network of charging stations and associated equipment that support the charging of electric vehicles (EVs). The rising demand for charging infrastructure is driven by the increasing adoption of electric vehicles, supportive government policies, advancements in EV technology, and heightened environmental awareness. EV charger converter modules are essential components within charging infrastructure, converting. For instance, in June 2022, according to the Edison Electric Institute (EEI), a US-based association representing all investor-owned electric companies, the number of electric vehicles (EVs) on U.S. roads is forecast to increase significantly, from 2.4 million in 2021 to 26.4 million by 2030, necessitating approximately 12.9 million charging ports to accommodate this growth. Therefore, a surge in demand for charging infrastructure will drive the growth of the electric vehicle (EV) charger converter module market.
Market Trends –
Major companies operating in the EV charger converter module market are focusing on innovations in converter module technology, such as power semiconductor modules, to enhance the efficiency and performance of EV charging systems. A power semiconductor module is a compact, integrated assembly of power semiconductor devices designed to manage and convert electrical energy in various high-power applications efficiently. For instance, in May 2022, Hitachi Energy, a Switzerland-based company that specializes in sustainable energy management, launched RoadPak, a pioneering power semiconductor module for electric vehicles featuring advanced silicon carbide (SiC) technology for faster charging, enhanced reliability, and improved energy efficiency, essential for sustainable transportation and global grid integration solutions. RoadPak is designed to enable faster charging, longer driving ranges, and enhanced performance for all types of electric vehicles – from regular cars to heavy-duty trucks and high-performance racing cars
The electric vehicle (EV) charger converter module market covered in this report is segmented –
1) By Product Type: Direct Current to Direct Current Converter (DC/DC), Alternating Current to Direct Current Converter (AC/DC)
2) By Power Rating: 30 to 60 kW, 60 to 120 kW, 120 to 240 kW, 240 to 400 kW
3) By End-user: Residential, Commercial, Public
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Regional Insights –
Asia-Pacific was the largest region in the electric vehicle (EV) charger converter module market in 2023. The regions covered in the electric vehicle (EV) charger converter module market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the electric vehicle (EV) charger converter module market are Robert Bosch GmbH, Siemens AG, Denso Corporation, Schneider Electric SE, ABB Ltd., Toyota Industries Corporation, Eaton Corporation, TE Connectivity Ltd., TDK Corporation, Infineon Technologies AG, Delta Electronics Inc., BorgWarner Inc., PHOENIX Contact GmbH & Co. KG, Bharat Heavy Electricals Limited, Leviton Manufacturing Co. Inc., Vicor Corporation, Kempower Oy, Tritium Pty Ltd, Axiom Energy Conversion Pvt. Ltd., IES Synergy, BRUSA Elektronik AG, Nuteck Power Solutions Private Limited, Mida EV Power Co. Ltd., Dana TM4 Inc., Mass-Tech Controls Pvt. Ltd.
Table of Contents
1. Executive Summary
2. Electric Vehicle (EV) Charger Converter Module Market Report Structure
3. Electric Vehicle (EV) Charger Converter Module Market Trends And Strategies
4. Electric Vehicle (EV) Charger Converter Module Market – Macro Economic Scenario
5. Global Electric Vehicle (EV) Charger Converter Module Market Size and Growth
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32. Global Electric Vehicle (EV) Charger Converter Module Market Competitive Benchmarking
33. Global Electric Vehicle (EV) Charger Converter Module Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electric Vehicle (EV) Charger Converter Module Market
35. Electric Vehicle (EV) Charger Converter Module Market Future Outlook and Potential Analysis
36. Appendix
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