Power Discrete and Modules Market Revenue Projections | Major Players are: Infineon Technologies AG, Mitsubishi Electric Corporation, Toshiba Corporation, ON Semiconductor, STMicroelectronics

According to a new report published by Allied Market Research, titled, "Power Discrete and Modules Market by Type, Component, Material, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026," 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. The power modules segment contributed nearly 65% of the share in 2018.

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Increase in demand for silicon carbide power devices plays a revolutionary role in the power discrete and module market. The current business scenario has been witnessing an increase in demand for power electronics modules across various industry verticals, particularly in the developed regions such as the U.S., Europe, and China. Companies in this industry have been launching a variety of products, such as silicon carbide Schottky barrier diodes and power MOSFETs, owing to their growing usage in photovoltaic inverters, industrial motor drives, and electro-mobility.

In 2017, there were more than 3.1 million electric cars globally, 50% more than the previous year, thus, rising the demand for power electronics components. This growing demand for power electronics components is expected to boost the growth of market share. Power discrete and modules are widely used in electric vehicles and charging stations for electric motors, controller unit, voltage converters, and inverters.

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In 2018, IGBT product type of power modules contributed over 40% share in the power discrete and modules market, and is expected to maintain its dominant position throughout the power discrete and modules market analysis period, owing to its capability to handle large collector-emitter currents with virtually zero gate current drive and high switching speeds. The growing demand for IGBT for various consumer electronics and industrial applications is propelling the growth of the power discrete and modules market.

Power module type segment dominated with over 65% share in 2018. A power module consists of multiple semiconductor chips mounted on an isolated substrate, which is mounted on a heat sinking copper base plate. It is gaining popularity globally, owing to unmatched efficiency and durability.

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Low-power consumption and light-weight design of power electronics boost the adoption of power modules in applications such as welding systems and other industrial systems. Asia-Pacific is the leading region, owing to the high adoption of power modules in energy and power sector for faster switching. However, the escalation of consumer electronics products is anticipated to fuel the adoption of power discrete and modules.

Based on region, the global power discrete and modules market trends are analyzed across North America Europe, Asia-Pacific, and LAMEA. In 2018, in terms of revenue, Asia-Pacific accounted for more than half of the market, and is expected to retain its dominant position, owing to the presence of well-established companies, government initiatives, and rise in demand for power electronics devices.

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The key players operating in the 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.

Key Findings of the Study:

In terms of revenue, IGBT contributed the maximum market share in 2018, and is expected to maintain its lead throughout the forecast period.
SiC is expected to grow at the highest CAGR during the forecast period.

In 2018, the power modules type segment held nearly two-third of the power discrete and modules market share, which was the highest among all the types.

In 2018, Asia-Pacific accounted for more than half of the total power discrete and modules market growth globally and is expected to dominate the market in the future.

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