Indian Discrete Power Semiconductor Devices Market To Generate $2,834.2 Million Value by 2030

The Indian discrete power semiconductor devices market is on the track to hitting $2,834.2 million by 2030. The fast adoption of EVs and the increase in the need for power electronic modules all over a variety of industries, including aerospace, medicine, and military, are the main drivers of the industry's expansion.

For example, in line with the Aatmanirbhar Bharat plan and to establish India as a center for the design and manufacture of electronic systems. The Indian government has pledged a total of $30 billion (INR 2,30,000 crore) to make India a center for the production of electronics, with semiconductors serving as the fundamental component.

The Indian government has also implemented several initiatives to promote the use of EVs. For instance, the Ministry of Road Transport and Highways published a notification in August 2021 exempting EVs from fees for the issuance or renewal of registration certificates.

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Additionally, the Govt has exempted the very first 200,000 electrical two-wheelers from tax and registration costs. Moreover, the Gujarati government is providing subsidies to students buying electric two-wheelers as well as e-rickshaw operators and self-employed individuals purchasing electric three-wheelers.

The consumer electronics industry's growing need for IPMs to increase energy efficiency results in a significant potential for expansion of the Indian discrete power semiconductor devices industry. Engineers who design AC units, fans, compressors, and other equipment work to minimize energy expenses and usage.

The Indian discrete power semiconductor devices market will grow as a consumer and connected gadget usage increases. Many home appliances, including AC power supply, dishwashers, washing machines, and induction heaters, utilize power electronic items.

The majority of power electronics utilized today are switching power sources found in the majority of consumer electronics or variable-speed controllers for motors that operate fans, pumps, and compressors.

The SiC material type controlled the most share in the Indian discrete power semiconductor devices sector in past, and it is expected that this category will continue to hold this position in this decade. SiC offers great heat resistance, low electricity consumption, stiffness, and support for smaller, slimmer designs that semiconductors and electronics require, which may be the major reason for this.

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The TO-247 package type has had a significant share of the Indian discrete power semiconductor devices industry in recent years, and it is predicted that it will continue to dominate in the coming years.

Additionally, the Indian government has implemented several measures to promote the use of EVs. For instance, the Delhi government introduced the Delhi EV Policy in August 2020 to promote the switch to battery EVs and to encourage 25% of all vehicle registrations in the state by 2024.

Phase 1 will see the construction of 100 EV charging bays and power storage stations across the city, most of them on DMRC-owned property, each having the ability to charge five vehicles.

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This release was published on openPR.