Power Semiconductor Module Market Size, Revenue Share, Insights & Future Outlook

Power Semiconductor Module Market Size

The global market for Power Semiconductor Module was valued at US$ 6790 million in the year 2024 and is projected to reach a revised size of US$ 13390 million by 2031, growing at a CAGR of 10.3% during the forecast period.

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The global key players of IGBT Power Module include Infineon, Mitsubishi Electric (Vincotech), Fuji Electric, Semikron Danfoss, StarPower Semiconductor, BYD, and Zhuzhou CRRC Times Electric, etc. The global six biggest players hold a share of 77 % in 2022.

In terms of product, currently the 600V, 650V, 1200V IGBT modules are the key segments. In terms of application, the Automotive & EV/HEV is the key driver of global IGBT modules market, will grow at a CAGR of 20.1% during the 2023 and 2029.

Currently the global IGBT modules are dominated by few players from Germany, Japan, and US, especially in the high-end fields. China is the largest and the fastest growing market, holds a share about 40 percent in 2022, and will be close to 50 percent by 2029. Key players in China include StarPower Semiconductor, BYD, Zhuzhou CRRC Times Electric, Hangzhou Silan Microelectronics, MacMic Science & Technology, and China Resources Microelectronics Limited, etc. There are also dozens of new entrants are developing the IGBT modules in China. It is predicted that Chinese players will play more important roles in future.

By Type
• IGBT Power Module
• SIC Power Module

By Application
• Automotive & EV/HEV
• Industrial Control
• Consumer Appliances
• Wind power, PV, Energy Storage
• Traction
• Military & Avionics

Key Companies
Infineon, STMicroelectronics, Mitsubishi Electric (Vincotech), Fuji Electric, Semikron Danfoss, Hitachi Power Semiconductor Device, Bosch, onsemi, Toshiba, Littelfuse (IXYS), Microchip (Microsemi), Wolfspeed, Vishay, Denso, Rohm, SanRex Corporation, Cissoid, StarPower Semiconductor, BYD, Zhuzhou CRRC Times Electric, Hangzhou Silan Microelectronics, MacMic Science & Technology, China Resources Microelectronics Limited, Yangzhou Yangjie Electronic Technology, EcoSemitek, Guangdong AccoPower Semiconductor, Grecon Semiconductor (Shanghai), United Nova Technology, ANHI Semiconductor, HAIMOSIC (SHANGHAI), Suzhou Sko Semiconductor

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This release was published on openPR.