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Power Discrete and Modules Market to hit $ 36,716.68 million, Globally, by 2028 at 6.5% CAGR: The Insight Partners

Power Discrete and Modules Market is expected to reach US$ 36,716.68 million by 2028

Increasing Investments in HVDC Power Systems to Provide Growth Opportunities for Power Discrete and Modules Market During 2021–2028

According to our latest market study on “Power Discrete and Modules Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, Material, and Wafer Size,” the market was valued at US$ 23,572.48 million in 2021 and is projected to reach US$ 36,716.68 million by 2028; it is expected to grow at a CAGR of 6.5% from 2021 to 2028.

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In 2021, Bharat Heavy Electricals Limited (BHEL) played a significant role in the implementation of the +800 kV, 6,000 MW Ultra High Voltage Direct Current (UHVDC) link between the Southern Region Grid (Pugalur, Tamil Nadu) and the Western Region Grid (Raigarh, Chhattisgarh). In 2020, the state government of Maharashtra in India unveiled its plans to build a 1GW underground high-voltage direct current (HVDC) power transmission network by investing almost US$ 1.08 billion. Thus, the increasing investments in the HVDC system are anticipated to create lucrative opportunities for respective power discrete and modules market growth in the future.

An intelligent power module (IPM) is a high-performance module that mounts a dedicated drive circuit to draw superior performance from an IGBT chip. The IPM offers a custom IC to execute self-protection functions, such as short circuits and supply under-voltage. These modules are commonly associated with motor control, but they are also utilized in inverters, uninterruptible power supplies, and renewable energy systems. IPM also finds use in compressors, pumps, HVAC, and elevators in the industrial sector. These modules can be used for air purifiers, fans, air conditioners, washing machines, vacuum cleaners, and refrigerators in home appliances. IPM finds application in oil pumps, AC compressors, and onboard charging in electric vehicles in the automotive sector. The rapidly growing electric vehicles and home appliances market is driving the demand for the latest intelligent power modules worldwide. In addition, rising government initiatives for preserving the environment and increasing demand for MOSFETs in the automotive industry are driving the adoption of intelligent power modules. Therefore, the intelligent power modules would become a key trend in the power discrete and modules market in the coming years.

Impact of COVID-19 Pandemic on Power discrete and modules Market

During the COVID-19 pandemic, the North American countries have faced many challenges during their day-to-day operations due to the restrictions imposed by respective governments. The demand for electronic components increased as several companies started operating remotely. Therefore, to operate under an automated environment, increased deployment of electronic systems and power electronics has been witnessed during FY 2020. This has driven the demand for power discrete & modules across the countries such as the US, Canada, and Mexico.

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Growing Requirement for SiC-Based Power Devices AC

Power modules used for handling large currents are particularly IGBT types. The IGBT-type power modules combine Si IGBT with fast recovery diodes (FRDs). Many manufacturers have started providing market-leading modules that integrate SiC MOSFETs with SiC Schottky barrier diode (SBDs). These modules minimize switching losses caused by IGBT tail current and FRD recovery loss. SiC models feature improved power supply efficiency and simple cooling measures, and small peripheral components because of high-frequency operation. In comparison with Si-IGBT used for current power modules, SiC-MOSFET is more capable of switching at high speeds relatively.
The need for SiC power modules is growing in the aerospace sector. To meet the needs of Urban Air Mobility (UAM) and More Electric Aircraft (MEA), Thales Group has developed dedicated power modules. The company’s COTS Aero power module is a type of full SiC leg power module that is highly suitable for all DC/AC power conversion applications up to the limit of 260 kW at altitudes of up to 44,000 feet and in non-pressurized zones. The need for SiC MOSFET-BASED power modules is increasing due to high-frequency and ultra-efficient operations in a 3-phase solar inverter, battery, and UPS management applications.

Type-Based Market Insights

Based on type, the power discrete and modules market is segmented into power discrete and power module. In 2020, the power discrete segment accounted for a larger market share.

The List of Companies – Power Discrete and Modules Market

Infineon Technologies AG, Mitsubishi Electric Corporation, Toshiba Corporation, ON Semiconductor, STMicroelectronics, NXP Semiconductors, Renesas Electronics Corporation, Texas Instruments, ROHM Semiconductors, and Semtech Corporation are among the key market players profiled during this market study. In addition to these players, several other important power discrete and modules market players were studied and analyzed during this market research study to get a holistic view of the global power discrete and modules market and its ecosystem.

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The players operating in the power discrete and modules market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In November 2021, ROHM developed dual-MOSFET products (Nch+Pch) featuring ±40V/±60V withstand voltages, QH8Mx5/SH8Mx5 series. The devices are ideal for driving motors in base stations (cooling fans) and industrial applications such as factory automation equipment requiring 24V input.
  • In April 2021, Renesas Electronics Corporationlaunched the RX23W module with Bluetooth for system control and wireless communication on IoT devices.

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