According to FMI's study of the global EV power module market demand, the industries are anticipated to expand at a healthy CAGR of 24% on average. Consequently, by the end of the forecast period, the EV module market share's entire worth might reach up to US$ 16,805.4 million. Back in the year 2022, the overall value of all EV power modules was around US$ 1,570.6 million. For this year 2023, FMI predicts the value to be around US$ 1,955.4 million.

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EV Power Module market is expected to reach US$ 16,805.4 million in 2033, growing at a CAGR of 24% during the forecast period 2023 to 2033 | Report by FMI

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