Global Power Discrete and Modules Market is valued approximately USD 27.59 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.41% over the forecast period 2023-2030. Power discrete and power modules are electronic components used in power management and control applications. They are designed to handle high power levels and provide efficient power conversion and switching capabilities. The power discrete and power modules are essential components in various industries where high-power applications require efficient power conversion, control, and protection.
These components play a crucial role in optimizing power efficiency, reducing losses, and improving overall system performance. The key factor driving the market growth is rising demand of electric vehicles, plug-in electric vehicles, and hybrid electric vehicles, growing emphasis on power saving, and rising demand of power electronics modules across various industry verticals that anticipated to create the lucrative demand for the market.
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Moreover, the growing demand for electric vehicles (EVs) has a positive impact on the growth of the Power Discrete and Modules Market. Electric vehicles rely heavily on power electronics components such as power discrete and modules. These components play a crucial role in managing power conversion, motor control, battery charging, and energy efficiency in EVs. As the demand for electric vehicles increases, there is a corresponding increase in the demand for power discretes and modules used in these vehicles. According to Statista, globally the number of electric vehicles sold in 2020 was 3.18 million; in 2022 the number reached 10.24 million and it is anticipated to reach 12.97 million by 2025.
As a result, the growing demand for EVs is anticipated to create lucrative demand for the market. Additionally, cohesive government initiatives in HVDC and smart grid and technological advancement in power MOSFET is anticipated to create lucrative opportunities for the market during the forecast period. However, the lack of availability of GaN material stifles market growth throughout the forecast period of 2023-2030.
By Type, the market is studied under Power Discrete and Power Module. Power Module dominates the market due to its integration benefits, offering higher efficiency and reliability compared to discrete components. With advanced packaging technologies and rising demand for high-power applications, Power Modules continue to drive innovation in power electronics for diverse industries.
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By Component, the market is studied under Thyristor, Diode, Rectifier, MOSFET, IGBT and Others. MOSFETs stand as the dominant segment within components, leveraging their efficient switching capabilities and low power consumption. Their widespread adoption across electronics industries, coupled with advancements in MOSFET technology, solidifies their position as the leading choice for power management solutions.
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Global Power Discrete and Module Market is studied under 5 major regions, namely, Asia Pacific, Latin America, Europe, North America, and Middle East & Africa. Asia Pacific stands out as both the dominating and fastest-growing region in the Global Power Discrete and Module Market. Rapid industrialization, urbanization, and the expansion of electronics manufacturing in countries such as China, Japan, and South Korea contribute to this dominance. The region is a major consumer and producer of power electronics components, with a strong presence in applications such as consumer electronics and automotive. The growth is propelled by the rising demand for energy-efficient solutions, the robust adoption of electric vehicles, and the continuous development of smart cities. The integration of wide-bandgap technologies and government initiatives supporting renewable energy also drive the market’s rapid expansion in Asia Pacific.
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North America plays a significant role in the Global Power Discrete and Module Market, driven by a mature electronics industry, technological innovation, and a focus on energy efficiency. The region is a hub for semiconductor manufacturing, and the demand for power discrete modules is fueled by applications in the automotive, telecommunications, and industrial sectors. Key drivers include the increasing adoption of electric vehicles, stringent environmental regulations promoting energy efficiency, and a robust emphasis on smart grid technologies.
Major market player included in this report are:
Texas Instruments
Renesas Electronics
Semtech Corporation
ROHM Semiconductors
Toshiba Corporation
Mitsubishi Electric Corporation
Semiconductor Components Industries, LLC
NXP Semiconductor
Infineon Technologies AG
STMicroelectronics
Recent Developments in the Market:
Ø In December 2022, STMicroelectronics, a semiconductor company that serves customers in a variety of electronics applications, developed high-power modules for electric vehicles that improve performance and range. The new silicon-carbide (SiC) power modules from ST have been designated for Hyundai’s E-GMP electric-vehicle platform, which is shared by the KIA EV6 and numerous other cars.
Global Power Discrete and Modules Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Component, Material, Industry Vertical, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Power Discrete
Power Module
By Component:
Thyristor
Diode
Rectifier
MOSFET
IGBT
Others
By Material:
SiC
GaN
Others
By Industry Vertical:
Telecommunication
Industrial
Automotive
Renewable
Consumer Electronics
Military & Defense
Medical
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa