Market overview
The global automotive power module market is worth USD 7.0 bn in 2026 and is forecast to reach USD 28.2 bn by 2036, growing at a 15.0% CAGR. China is the largest country market and IGBT modules is the largest by technology segment.
| Scope | Power modules for vehicles, including SiC and IGBT inverter modules, DC-DC converter modules and on-board charger modules for electric and hybrid vehicles. |
|---|---|
| Industry | Automotive |
| Value 2025 | USD 6.0 bn |
| Value 2026 | USD 7.0 bn |
| Value 2036 | USD 28.2 bn |
| CAGR 2026-2036 | 15.0% |
| Volume 2026 | 65.8 million units |
| Volume 2036 | 361 million units |
| Average price 2026 | USD 106 per unit |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Automotive Power Module market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 7.0 bn |
| 2027 | USD 8.0 bn |
| 2028 | USD 9.2 bn |
| 2029 | USD 10.6 bn |
| 2030 | USD 12.2 bn |
| 2031 | USD 14.0 bn |
| 2032 | USD 16.1 bn |
| 2033 | USD 18.5 bn |
| 2034 | USD 21.3 bn |
| 2035 | USD 24.5 bn |
| 2036 | USD 28.2 bn |
Automotive Power Module market segmentation
By technology
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| IGBT modules | 56.0% | 25.0% | USD 3.9 bn | 6.1% |
| Silicon carbide modules | 38.0% | 61.6% | USD 2.6 bn | 20.7% |
| GaN and other | 6.0% | 13.4% | USD 418 mn | 24.6% |
By vehicle
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Battery electric | 58.0% | 68.2% | USD 4.0 bn | 16.9% |
| Plug-in and full hybrid | 32.0% | 26.6% | USD 2.2 bn | 12.9% |
| Mild hybrid and other | 10.0% | 5.3% | USD 696 mn | 7.9% |
By voltage class
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Up to 400 V | 34.0% | 22.0% | USD 2.4 bn | 10.1% |
| 650 to 750 V | 38.0% | 34.0% | USD 2.6 bn | 13.7% |
| 1200 V and above | 28.0% | 44.0% | USD 1.9 bn | 20.3% |
By application
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Traction inverter | 62.0% | 60.0% | USD 4.3 bn | 14.6% |
| On-board charger | 21.0% | 20.0% | USD 1.5 bn | 14.4% |
| DC-DC and auxiliary drives | 17.0% | 20.0% | USD 1.2 bn | 16.9% |
By packaging
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Transfer-molded | 44.0% | 38.0% | USD 3.1 bn | 13.3% |
| Direct-liquid-cooled | 38.0% | 43.0% | USD 2.6 bn | 16.4% |
| Other advanced packages | 18.0% | 19.0% | USD 1.3 bn | 15.6% |
Top 25 countries for automotive power module by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 94.0% of 2026 revenue and the 25 countries below together hold 98.2%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 3.1 bn | 44.0% | USD 13.5 bn | 16.0% |
| 2 | United States | USD 835 mn | 12.0% | USD 3.1 bn | 14.0% |
| 3 | Germany | USD 696 mn | 10.0% | USD 2.2 bn | 12.0% |
| 4 | South Korea | USD 348 mn | 5.0% | USD 1.3 bn | 14.1% |
| 5 | Japan | USD 348 mn | 5.0% | USD 986 mn | 11.0% |
| 6 | France | USD 278 mn | 4.0% | USD 957 mn | 13.2% |
| 7 | India | USD 278 mn | 4.0% | USD 2.0 bn | 22.0% |
| 8 | United Kingdom | USD 278 mn | 4.0% | USD 957 mn | 13.2% |
| 9 | Italy | USD 209 mn | 3.0% | USD 704 mn | 12.9% |
| 10 | Sweden | USD 209 mn | 3.0% | USD 788 mn | 14.2% |
| 11 | Spain | USD 54 mn | 0.8% | USD 197 mn | 13.9% |
| 12 | Norway | USD 45 mn | 0.6% | USD 163 mn | 13.9% |
| 13 | Netherlands | USD 37 mn | 0.5% | USD 135 mn | 13.9% |
| 14 | Canada | USD 31 mn | 0.4% | USD 110 mn | 13.6% |
| 15 | Czech Republic | USD 25 mn | 0.4% | USD 115 mn | 16.5% |
| 16 | Poland | USD 21 mn | 0.3% | USD 96 mn | 16.4% |
| 17 | Thailand | USD 17 mn | 0.2% | USD 79 mn | 16.3% |
| 18 | Turkey | USD 14 mn | 0.2% | USD 65 mn | 16.6% |
| 19 | Mexico | USD 12 mn | 0.2% | USD 54 mn | 16.3% |
| 20 | Brazil | USD 9.7 mn | 0.1% | USD 45 mn | 16.6% |
| 21 | Belgium | USD 8.3 mn | 0.1% | USD 28 mn | 12.9% |
| 22 | Switzerland | USD 7.0 mn | 0.1% | USD 25 mn | 13.8% |
| 23 | Austria | USD 5.6 mn | 0.08% | USD 20 mn | 13.5% |
| 24 | Hungary | USD 4.9 mn | 0.07% | USD 23 mn | 16.6% |
| 25 | Australia | USD 3.5 mn | 0.05% | USD 17 mn | 17.1% |
| Rest of world | USD 124 mn | 1.8% | USD 490 mn | 14.7% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Infineon Technologies
- onsemi
- STMicroelectronics
- Mitsubishi Electric
- Fuji Electric
- Semikron Danfoss
Group 2: Regional and specialist players
- BYD Semiconductor
- Wolfspeed
- ROHM
- Bosch
- Denso
- Toshiba
- Microchip Technology
Group 3: Emerging and niche players
- StarPower Semiconductor
- Hitachi Power Semiconductor
- Zhuzhou CRRC Times
- Silan Microelectronics
- Cissoid
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the automotive power module market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 15.0% is calculated from the resulting values.
The market is divided by technology, by vehicle, by voltage class, by application, by packaging. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the automotive power module market?
The global automotive power module market is estimated at USD 6.0 bn in 2025 and USD 7.0 bn in 2026.
How fast will the automotive power module market grow?
It is forecast to reach USD 28.2 bn by 2036, a compound annual growth rate of 15.0% from 2026, an increase of USD 21.2 bn.
Which country is the largest market for automotive power module?
China is the largest market by revenue at USD 3.1 bn in 2026, 44.0% of the global total. The three largest countries together hold 66.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 22.0% a year from 2026 to 2036.
Which automotive power module segment is largest?
In the by technology split, IGBT modules is the largest segment with 56.0% of 2026 revenue.
Who are the leading automotive power module companies?
Global leaders include Infineon Technologies, onsemi, STMicroelectronics, Mitsubishi Electric.
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