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Power Discrete and Modules Market Outlook - 2026

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The global power discrete and modules market size was valued at $20.75 billion in 2018, and is projected to reach $35.92 billion by 2026, growing at a CAGR of 6.4% from 2019 to 2026. Power module, also known as power electronic module, offers physical containment for several power components, usually power semiconductor devices, while discrete power supply allows more customization to the application. As compared to discrete power, the power packages offer higher power density and are more reliable in many cases.

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Power MOSFET is an acronym for “Metal Oxide Semiconductor Field Effect Transistor” and can be defined as a power semiconductor that is used as an electronic switch device to control the loads as per requirement. Power devices can attain extremely low resistance and high-frequency switching. These properties are exploited in high-efficiency power supplies, electric vehicle (EV), hybrid electric vehicle (HEV), photovoltaic inverters, and RF switching. These devices are applicable in power supplies for server, IT equipment, high efficiency & stable power supplies, and EV & HEV devices.

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The prominent factor that drive the power discrete and modules market growth include increase in demand for power electronics modules across various industry verticals such as aerospace, medical, and defense; plays a crucial role in increasing adoption of SiC power devices. Furthermore, increase in emphasis on power saving; and growth in demand for electric vehicles, plug-in electric vehicles, and hybrid electric vehicles also contribute to the power discrete and modules market growth across the globe. Power electronics provide control and conversion of electrical power effectively and efficiently.

Moreover, growth in demand for SiC-based photovoltaic cells in developing countries, including China, Brazil, and India, fuels the growth of SiC-based power devices. One of the major restraints associated with this market is the lack of availability of GaN material. Nonetheless, the government in developing economies is investing in HVDC and smart grid and technological advancement in power MOSFET, which is anticipated to provide lucrative opportunities for the power discrete and modules market.

Segment Overview

The power discrete and modules market is segmented on the basis of type, component, material, industry vertical, and region. Based on type, it is classified into power discrete and power module, among which power modules dominated the market in terms of revenue in 2018, and is anticipated to follow same trend during forecast period, owing to its unmatched efficiency and durability.

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Power Discrete segment is projected to grow at a significant CAGR of 8.2% during 2019 - 2026

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By component, the market is categorized into thyristor, diode, rectifier, MOSFET, IGBT, and other. The IGBT segment is projected to grow at highest CAGR during forecast period.

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IGBT segment holds a dominant position in 2018 and would continue to maintain the lead with a highest rate during the forecast period

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By material, it is classified into SiC, GaN, and others, the GaN material segment dominated the market share in 2018. However, the SiC based components are expected to witness noteworthy growth in coming years.

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SiC segment would exhibit the highest CAGR of 11.1% during 2019 - 2026

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By industry vertical, the market is divided into telecommunication; industrial; automotive; renewable; consumer & enterprise; military, defense, and aerospace; and medical. The telecommunication segment dominated the market in 2018, owing to increase in demand for high speed internet, which has led to development of an entirely new wireless infrastructure called 5G, which provides lucrative opportunity for the adoption of SiC power devices in telecommunication industry.

Power Discrete and Modules Market By Industry Vertical

Automotive segment would exhibit the highest CAGR of 9.5% during 2019 - 2026

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The power discrete and modules market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2018, Asia-Pacific region secured highest revenue share in the market, owing to availability of huge power stations for high voltage power, increase in demand for power modules, and growth in population.

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Asia-pacific
North America
Lamea

Asia-Pacific segment holds a dominant position in 2018 and is expected to grow at a highest CAGR of 7.4% during the 2019 - 2026

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Top Impacting Factors

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The significant impacting factors for the power discrete and modules market include increase in demand of power electronics modules across various industry verticals, rise in emphasis on power saving, and growth in demand for electric vehicles, plug-in electric vehicles, and hybrid electric vehicles. However, lack of availability of GaN material restrains the market growth. Moreover, advent of government initiatives in HVDC and smart grid and technological advancement in power MOSFET is expected to provide power discrete and modules opportunities for during the forecast period.

Competitive Analysis

The key players operating in the power discrete and modules market include Infineon Technologies AG, Mitsubishi Electric Corporation, Toshiba Corporation, ON Semiconductor, STMicroelectronics, NXP Semiconductors, Renesas Electronics Corporation, Texas Instruments, ROHM Semiconductors, and Semtech Corporation. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their position in the market.

For instance, Mitsubishi Electric Corporation, one the prominent player in power discrete and modules market launched high-performance intelligent power module (IPM) in 2019. This product enables the air conditioners, washing machines, and various small-capacity motor drives to reduce motor noise and consume less power. Furthermore, NXP Semiconductor launched RF power multi-chip module (MCM) for 5G Massive MIMO applications and i.MX RT1170 family of crossover MCUs to enhance its business capabilities in power discrete and modules market.

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Key Benefits for Stakeholders:

  • This study comprises analytical depiction of the global power discrete and modules market size along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall power discrete and modules market analysis is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current power discrete and modules market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the power discrete and modules industry.
  • The report includes the power discrete and modules market share of key vendors and market trends.

Key Market Segments

  • By Type
    • Power Discrete
    • Power Module
  • By Component
    • Thyristor
    • Diode
    • Rectifier
    • MOSFET
    • IGBT
    • Others
  • By Industry Vertical
    • Telecommunication
    • Industrial
    • Automotive
    • Renewable
    • Consumer Electronics
    • Military & Defense
    • Medical
  • By Material
    • SiC
    • GaN
    • Others
  • By Region
    • North America
      • U.S.
      • Mexico
      • Canada
    • Europe
      • Germany
      • France
      • UK
      • Rest of Europe
    • Asia-Pacific
      • Japan
      • China
      • India
      • South Korea
      • Rest of Asia-Pacific
    • LAMEA
      • Latin America
      • Middle East
      • Africa

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Key Market Players

  • Infineon Technologies AG
  • Mitsubishi Electric Corporation
  • NXP Semiconductor
  • ON Semiconductor
  • ROHM Semiconductors
  • Renesas Electronics
  • STMicroelectronics
  • Semtech Corporation
  • Texas Instruments
  • Toshiba Corporation