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Power Discretes Devices & Modules Market Size 2020-2025 | Growth Forecasts

According to trusted estimates, global power discretes devices & modules market to display strong growth trends during 2020-2025. Extensive use in consumer electronics such as smartphones, wearables, and IoT devices, in tandem with growing trend of miniaturization of electronic components is fueling the growth of power discretes devices & modules market. Upgradation of existing grid infrastructure in tandem with rising adoption of renewable energy sources such as solar and wind energy will enhance the demand for power discretes devices & modules in the years to come.

Power discretes devices is a single semiconductor unit such as diodes and transistors, whereas power modules comprise of several power semiconductor units. Key characteristics including lightweight, energy efficiency, high performance, and enhanced portability are favoring the product use. Additionally, growing focus towards efficient energy consumption, use of distributed cooling systems, and focus to design equipment with increased power density in smaller footprints are supporting the development of advanced power discretes devices and modules. For instance, the use of new technologies such as wide bandgap (WBG) semiconductors including gallum nitride (GaN) and silicon carbide (SiC) over conventional silicon technology offers cost-saving benefits and reliable energy supply from renewable energy sources. Recently, IEEE Power Electronics Society launched ITRW (International Technology Roadmap for Wide Bandgap Power Semiconductors) which aims to encourage the use of WBG technology. Such initiatives and technological advancements will foster the market growth in the coming years.

Based on the type, MOSFETs segment is anticipated to see modest growth over the forecast timeline. MOSFET is a power semiconductor device used as an electronic switch. Its various advantages over bipolar junction transistor such as cost-effectiveness, operational efficiency at high voltage and current, alongside the compact size and extended lifespan are encouraging the product adoption. Increasing use of MOSFET in renewable energy power generation and electric vehicles for enhanced switching speed and power loss minimization is driving the segment growth. However, high initial cost and leakage issues may hinder the product demand to some extent.  

Speaking of the application spectrum, power discretes devices & modules market share from automotive & transportation segment is expected to multiply decently over the forecast duration. Power semiconductors such as silicon carbide devices are being increasingly used as onboard battery charger in electric vehicles (EV). This factor coupled with growing adoption of electric vehicles & hybrid vehicles on account of stringent government regulations regarding emission mitigation is aiding the business scenario. Advancements in vehicle technology such as autonomous vehicles will further propel the demand for semiconductors and power modules in automobiles.

Considering the geographical landscape, United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Russia, China, Japan, Korea, India, Southeast Asia, Australia, Argentina, Brazil, Saudi Arabia, and Egypt are the main revenue generators for global power discretes devices & modules market.

Asia Pacific power discretes & modules market is projected to grow rapidly over the next five years. Booming manufacturing sector in APAC, owing to cheap labor cost and availability of raw materials is boosting the energy demand, thereby supporting the expansion of power industry. Increasing deployment of HDVC grids in emerging economies like India and China along with commencement of numerous Greenfield projects for renewable energy generation are expected to impel the growth of power discretes devices & modules industry in APAC.

Infineon Technologies, Toshiba, Renesas Electronics, ON Semiconductor, Mitsubishi Electric Company, Fuji Electric, Nexperia, STMicroelectroniccs, Vishay Intertechnology, ROHM Semiconductor, IXYS Corporation, Microchip Technology, and Semikron Inc. are the prominent players of global power discretes devices & modules market.

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