A semiconductor module comprising: a plurality of first circuit components (25a1, 25b1), each of the first circuit components (25a1, 25b1) including: an insulating first substrate; a first conductive layer (P1, P2) provided on the first substrate; a first switching device (19A1, 19B1) provided on the first conductive layer (P1, P2) and including a first element part (19e1, 19e2), a first electrode (19ce1, 19ce2) provided on an upper surface (19s1, 19s3) of the first element part (19e1, 19e2), and a second electrode (19me1, 19me2) and a third electrode (19ge1, 19ge2) provided on a lower surface (19s2, 19s4) of the first element part (19e1, 19e2); and a first diode (20A1, 20B1) provided on the first conductive layer (P1, P2), spaced from the first switching device (19A1, 19B1) in a first direction parallel to an upper surface of the first substrate, and including a second element part (20e1, 20e2), a fourth electrode (20ke1, 20ke2) provided on an upper surface (20s1, 20s3) of the second element part (20e1, 20e2), and a fifth electrode (20ae1, 20ae2) provided on a lower surface (20s2, 20s4) of the second element part (20e1, 20e2); a conductive first connection member (50a1) provided on the first electrode (19ce1, 19ce2) and the fourth electrode (20ke1, 20ke2); and a first wire connecting the first conductive layer (P1, P2) and the first connection member (50a1), the first circuit components (25a1, 25b1) being placed in a second direction, the second direction being parallel to the upper surface of the insulating first substrate and the second direction crossing the first direction, and the first circuit components (25a1, 25b1) being mounted in a downward direction. a plurality of first circuit components (25a1, 25b1), each of the first circuit components (25a1, 25b1) including: an insulating first substrate; a first conductive layer (P1, P2) provided on the first substrate; a first switching device (19A1, 19B1) provided on the first conductive layer (P1, P2) and including a first element part (19e1, 19e2), a first electrode (19ce1, 19ce2) provided on an upper surface (19s1, 19s3) of the first element part (19e1, 19e2), and a second electrode (19me1, 19me2) and a third electrode (19ge1, 19ge2) provided on a lower surface (19s2, 19s4) of the first element part (19e1, 19e2); and a first diode (20A1, 20B1) provided on the first conductive layer (P1, P2), spaced from the first switching device (19A1, 19B1) in a first direction parallel to an upper surface of the first substrate, and including a second element part (20e1, 20e2), a fourth electrode (20ke1, 20ke2) provided on an upper surface (20s1, 20s3) of the second element part (20e1, 20e2), and a fifth electrode (20ae1, 20ae2) provided on a lower surface (20s2, 20s4) of the second element part (20e1, 20e2); an insulating first substrate; a first conductive layer (P1, P2) provided on the first substrate; a first switching device (19A1, 19B1) provided on the first conductive layer (P1, P2) and including a first element part (19e1, 19e2), a first electrode (19ce1, 19ce2) provided on an upper surface (19s1, 19s3) of the first element part (19e1, 19e2), and a second electrode (19me1, 19me2) and a third electrode (19ge1, 19ge2) provided on a lower surface (19s2, 19s4) of the first element part (19e1, 19e2); and a first diode (20A1, 20B1) provided on the first conductive layer (P1, P2), spaced from the first switching device (19A1, 19B1) in a first direction parallel to an upper surface of the first substrate, and including a second element part (20e1, 20e2), a fourth electrode (20ke1, 20ke2) provided on an upper surface (20s1, 20s3) of the second element part (20e1, 20e2), and a fifth electrode (20ae1, 20ae2) provided on a lower surface (20s2, 20s4) of the second element part (20e1, 20e2); a conductive first connection member (50a1) provided on the first electrode (19ce1, 19ce2) and the fourth electrode (20ke1, 20ke2); and a first wire connecting the first conductive layer (P1, P2) and the first connection member (50a1), the first circuit components (25a1, 25b1) being placed in a second direction, the second direction being parallel to the upper surface of the insulating first substrate and the second direction crossing the first direction, and the first circuit components (25a1, 25b1) being mounted in a downward direction.