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Global power module market to grow at 12.92% CAGR, reaching $47.34B by 2036 driven by EVs and renewable energy.

Market News
13 Oct 2026
Globe News Wire
View Source
Bullish
Global power module market to grow at 12.92% CAGR, reaching $47.34B by 2036 driven by EVs and renewable energy.

The global power module market is projected to expand from $12.13 billion in 2025 to $47.34 billion by 2036, growing at a compound annual growth rate (CAGR) of 12.92%. This growth is fueled by increasing electric vehicle adoption, investments in charging infrastructure, industrial automation, renewable energy capacity, battery storage, and grid modernization. Silicon carbide (SiC) and insulated-gate bipolar transistor (IGBT) technologies are key drivers, with SiC modules gaining market share due to superior performance. Asia-Pacific, led by China, Japan, South Korea, and India, is expected to remain the dominant region. Advanced packaging and strategic partnerships with OEMs and energy sectors will be crucial for suppliers to capitalize on emerging opportunities in high-voltage grid equipment, data centers, and industrial applications.

The global power module market is forecasted to grow at a 12.92% CAGR to reach $47.34 billion by 2036. For readers following technology stocks, here is Pluang's market snapshot as of Oct 13, 2026 15:11 WIB: out of 150 priced US technology stocks, 46 rose and 92 fell today. Notable movers include DOCN at USD 127.05 with a 1-day change of -3.32% and a typical hold time on Pluang of 43 days, DLB at USD 59.84 up 3.05% with a typical hold time of 99 days, and ASX at USD 46.15 down 2.90% with 97% sell order activity.

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