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 observed in the historic period can be attributed to several factors, including the increasing demand for electric vehicles, expansion of charging infrastructure, government incentives and policies supporting electric vehicle adoption, rising consumer awareness regarding environmental sustainability, and the 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 anticipated growth in the forecast period can be attributed to ongoing improvements in EV battery technology, the expansion of fast charging networks, increased investments in renewable energy sources, rapid growth in electric vehicle sales, and the expansion of electric vehicle fleets in commercial sectors. Major trends expected during this period include the widespread adoption of electric vehicles, advancements in power semiconductor modules, the adoption of silicon carbide (SiC) technology for enhanced efficiency, integration with smart grids to optimize charging, and the implementation of smart charging solutions for improved efficiency and grid management.
The electric vehicle (EV) charger converter module market is poised for growth, driven by a surge in demand for charging infrastructure. Charging infrastructure encompasses the network of stations and equipment facilitating the charging of electric vehicles (EVs). This demand is fueled by increasing EV adoption, supportive government policies, technological advancements in EVs, and heightened environmental consciousness. EV charger converter modules play a crucial role within this infrastructure, converting electrical energy to enable efficient charging. For example, the Edison Electric Institute (EEI) projected a substantial rise in U.S. EVs on the road, from 2.4 million in 2021 to 26.4 million by 2030, necessitating about 12.9 million charging ports to accommodate this growth. Therefore, the escalating demand for charging infrastructure is set to propel the electric vehicle (EV) charger converter module market forward.
Leading companies in the EV charger converter module market are concentrating on advancing converter module technologies, particularly in power semiconductor modules, to enhance EV charging system efficiency and performance. These modules integrate power semiconductor devices in compact assemblies designed to efficiently manage and convert electrical energy in high-power applications. For instance, Hitachi Energy introduced RoadPak in May 2022, a cutting-edge power semiconductor module for EVs utilizing advanced silicon carbide (SiC) technology. RoadPak facilitates faster charging, improved reliability, and enhanced energy efficiency, crucial for sustainable transportation and global grid integration solutions. It supports faster charging times, extended driving ranges, and optimized performance across various EV categories, from everyday cars to heavy-duty trucks and high-performance vehicles.
In January 2024, Siemens AG, a German technology conglomerate, completed the acquisition of Heliox Energy for an undisclosed sum. This acquisition strategically enhances Siemens' eMobility charging portfolio by integrating a comprehensive range of products and solutions, spanning from 40 kilowatts (kW) to megawatt-level charging capabilities. These offerings cater to the evolving needs of depot and en-route charging infrastructure. Moreover, Heliox Energy's portfolio extends Siemens' market reach, particularly strengthening its presence in Europe and North America, while bolstering its expertise in power electronics. Heliox Energy, headquartered in the United States, specializes in providing rapid charging solutions, including advanced power electronic modules tailored for electric vehicles.
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.
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.
The countries covered in the electric vehicle (EV) charger converter module market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The Electric Vehicle (EV) charger converter module is a critical component within the electric vehicle charging infrastructure. It functions by converting electrical power from the charging station into a format suitable for charging the EV's battery, ensuring efficient and safe energy transfer. This module plays a pivotal role in the EV charging ecosystem, overseeing the conversion, regulation, and effective transmission of power from the grid to the vehicle's battery.
The primary types of EV charger converter modules include Direct Current to Direct Current converters (DC/DC) and Alternating Current to Direct Current converters (AC/DC). DC/DC converters transform one DC voltage level to another, crucial in EV charging to adapt high-voltage battery power to lower voltages required by various vehicle components. These modules are categorized by power rating, 30 to 60 kW, 60 to 120 kW, 120 to 240 kW, and 240 to 400 kW. End-users span residential, commercial, and public sectors, encompassing diverse applications within the EV charging infrastructure.
The electric vehicle (EV) charger converter module market research report is one of a series of new reports that provides electric vehicle (EV) charger converter module market statistics, including electric vehicle (EV) charger converter module industry global market size, regional shares, competitors with an electric vehicle (EV) charger converter module market share, detailed electric vehicle (EV) charger converter module market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle (EV) charger converter module industry. This electric vehicle (EV) charger converter module market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electric vehicle (EV) charger converter module market consists of sales of converter modules, power semiconductor modules, and control units. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
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 anticipated growth in the forecast period can be attributed to ongoing improvements in EV battery technology, the expansion of fast charging networks, increased investments in renewable energy sources, rapid growth in electric vehicle sales, and the expansion of electric vehicle fleets in commercial sectors. Major trends expected during this period include the widespread adoption of electric vehicles, advancements in power semiconductor modules, the adoption of silicon carbide (SiC) technology for enhanced efficiency, integration with smart grids to optimize charging, and the implementation of smart charging solutions for improved efficiency and grid management.
The electric vehicle (EV) charger converter module market is poised for growth, driven by a surge in demand for charging infrastructure. Charging infrastructure encompasses the network of stations and equipment facilitating the charging of electric vehicles (EVs). This demand is fueled by increasing EV adoption, supportive government policies, technological advancements in EVs, and heightened environmental consciousness. EV charger converter modules play a crucial role within this infrastructure, converting electrical energy to enable efficient charging. For example, the Edison Electric Institute (EEI) projected a substantial rise in U.S. EVs on the road, from 2.4 million in 2021 to 26.4 million by 2030, necessitating about 12.9 million charging ports to accommodate this growth. Therefore, the escalating demand for charging infrastructure is set to propel the electric vehicle (EV) charger converter module market forward.
Leading companies in the EV charger converter module market are concentrating on advancing converter module technologies, particularly in power semiconductor modules, to enhance EV charging system efficiency and performance. These modules integrate power semiconductor devices in compact assemblies designed to efficiently manage and convert electrical energy in high-power applications. For instance, Hitachi Energy introduced RoadPak in May 2022, a cutting-edge power semiconductor module for EVs utilizing advanced silicon carbide (SiC) technology. RoadPak facilitates faster charging, improved reliability, and enhanced energy efficiency, crucial for sustainable transportation and global grid integration solutions. It supports faster charging times, extended driving ranges, and optimized performance across various EV categories, from everyday cars to heavy-duty trucks and high-performance vehicles.
In January 2024, Siemens AG, a German technology conglomerate, completed the acquisition of Heliox Energy for an undisclosed sum. This acquisition strategically enhances Siemens' eMobility charging portfolio by integrating a comprehensive range of products and solutions, spanning from 40 kilowatts (kW) to megawatt-level charging capabilities. These offerings cater to the evolving needs of depot and en-route charging infrastructure. Moreover, Heliox Energy's portfolio extends Siemens' market reach, particularly strengthening its presence in Europe and North America, while bolstering its expertise in power electronics. Heliox Energy, headquartered in the United States, specializes in providing rapid charging solutions, including advanced power electronic modules tailored for electric vehicles.
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.
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.
The countries covered in the electric vehicle (EV) charger converter module market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The Electric Vehicle (EV) charger converter module is a critical component within the electric vehicle charging infrastructure. It functions by converting electrical power from the charging station into a format suitable for charging the EV's battery, ensuring efficient and safe energy transfer. This module plays a pivotal role in the EV charging ecosystem, overseeing the conversion, regulation, and effective transmission of power from the grid to the vehicle's battery.
The primary types of EV charger converter modules include Direct Current to Direct Current converters (DC/DC) and Alternating Current to Direct Current converters (AC/DC). DC/DC converters transform one DC voltage level to another, crucial in EV charging to adapt high-voltage battery power to lower voltages required by various vehicle components. These modules are categorized by power rating, 30 to 60 kW, 60 to 120 kW, 120 to 240 kW, and 240 to 400 kW. End-users span residential, commercial, and public sectors, encompassing diverse applications within the EV charging infrastructure.
The electric vehicle (EV) charger converter module market research report is one of a series of new reports that provides electric vehicle (EV) charger converter module market statistics, including electric vehicle (EV) charger converter module industry global market size, regional shares, competitors with an electric vehicle (EV) charger converter module market share, detailed electric vehicle (EV) charger converter module market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle (EV) charger converter module industry. This electric vehicle (EV) charger converter module market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electric vehicle (EV) charger converter module market consists of sales of converter modules, power semiconductor modules, and control units. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Electric Vehicle (EV) Charger Converter Module Market Characteristics3. Electric Vehicle (EV) Charger Converter Module Market Trends and Strategies30 to 60 kW60 to 120 kW120 to 240 kW32. Global Electric Vehicle (EV) Charger Converter Module Market Competitive Benchmarking33. Global Electric Vehicle (EV) Charger Converter Module Market Competitive Dashboard34. Key Mergers and Acquisitions in the Electric Vehicle (EV) Charger Converter Module Market
4. Electric Vehicle (EV) Charger Converter Module Market - Macro Economic Scenario
5. Global Electric Vehicle (EV) Charger Converter Module Market Size and Growth
6. Electric Vehicle (EV) Charger Converter Module Market Segmentation
240 to 400 kW
7. Electric Vehicle (EV) Charger Converter Module Market Regional and Country Analysis
8. Asia-Pacific Electric Vehicle (EV) Charger Converter Module Market
9. China Electric Vehicle (EV) Charger Converter Module Market
10. India Electric Vehicle (EV) Charger Converter Module Market
11. Japan Electric Vehicle (EV) Charger Converter Module Market
12. Australia Electric Vehicle (EV) Charger Converter Module Market
13. Indonesia Electric Vehicle (EV) Charger Converter Module Market
14. South Korea Electric Vehicle (EV) Charger Converter Module Market
15. Western Europe Electric Vehicle (EV) Charger Converter Module Market
16. UK Electric Vehicle (EV) Charger Converter Module Market
17. Germany Electric Vehicle (EV) Charger Converter Module Market
18. France Electric Vehicle (EV) Charger Converter Module Market
19. Italy Electric Vehicle (EV) Charger Converter Module Market
20. Spain Electric Vehicle (EV) Charger Converter Module Market
21. Eastern Europe Electric Vehicle (EV) Charger Converter Module Market
22. Russia Electric Vehicle (EV) Charger Converter Module Market
23. North America Electric Vehicle (EV) Charger Converter Module Market
24. USA Electric Vehicle (EV) Charger Converter Module Market
25. Canada Electric Vehicle (EV) Charger Converter Module Market
26. South America Electric Vehicle (EV) Charger Converter Module Market
27. Brazil Electric Vehicle (EV) Charger Converter Module Market
28. Middle East Electric Vehicle (EV) Charger Converter Module Market
29. Africa Electric Vehicle (EV) Charger Converter Module Market
30. Electric Vehicle (EV) Charger Converter Module Market Competitive Landscape and Company Profiles
31. Electric Vehicle (EV) Charger Converter Module Market Other Major and Innovative Companies
35. Electric Vehicle (EV) Charger Converter Module Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Electric Vehicle (EV) Charger Converter Module Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on electric vehicle (EV) charger converter module market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for electric vehicle (EV) charger converter module? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric vehicle (EV) charger converter module market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
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
Key Companies Mentioned: Robert Bosch GmbH; Siemens AG; Denso Corporation; Schneider Electric SE; ABB Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- 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.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | August 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 3.68 Billion |
| Forecasted Market Value ( USD | $ 8.46 Billion |
| Compound Annual Growth Rate | 23.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
