Global Power Discrete And Module Market Size Forecast 2024 - 2033
17 Dec, 2024
How Is The Global Power Discrete And Module Market Defined?
Power discrete and modules are electronic devices utilized in power management and control applications to handle high-power levels with precision. They play a vital role in facilitating efficient power management and control, contributing to the functionality and performance of numerous electronic and electrical systems.
Power Discrete And Module Global Market Report 2024 provides data on the global power discrete and module market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Power Discrete And Module market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Market Size And Growth Rate Of The Global Power Discrete And Module Market Projected?
The power discrete and module market has experienced strong growth, increasing from $26.86 billion in 2023 to $28.82 billion in 2024, at a CAGR of 7.3%. This growth is attributed to the miniaturization of electronic devices, higher efficiency requirements, increased demand for power management systems, and the growing use of power electronics in aerospace and defense, as well as manufacturing. In the forecast period, the market is expected to see continued strong growth, reaching $38.66 billion by 2028 at a CAGR of 7.6%. This growth is supported by factors such as the increasing need for electronics with low energy consumption, the rise of electric cars (EVs), the expansion of consumer electronics, telecommunications infrastructure, and growing demand for power sources. Major trends likely to influence the market include the integration of renewable energy, technological progress, the adoption of power semiconductor devices, advancements in power semiconductor manufacturing, and the adoption of smart grid technology.
What Are The Primary Growth Drivers In The Power Discrete And Module Market?
The increasing demand for electric vehicles is expected to propel the growth of the power discrete and module market going forward. Electric vehicles (EVs), powered entirely or partially by electricity, are gaining popularity due to environmental concerns, energy efficiency, and government initiatives aimed at reducing greenhouse gas emissions. Power discrete components and modules are essential for EV technology, providing necessary power management and control for efficient operation. For instance, in 2024, the International Energy Agency, a France-based government agency, reported that electric car sales in 2023 were 3.5 million higher than in 2022, representing a 35% year-on-year increase. Therefore, the increasing demand for electric vehicles is expected to drive the growth of the power discrete and module market, which is projected to reach $Y billion in 2023, $Z billion in 2024, and $AA billion in 2028.
Get Your Free Sample of the Global Power Discrete And Module Market ReportWhat Is The Segmentation Of The Global Power Discrete And Module Market?
The power discrete and module market covered in this report is segmented –
1) By Type: Power Discrete, Power Module
2) By Component: Thyristor, Diode, Rectifier, MOSFET, IGBT, Other Components
3) By Material : Silicon Carbide (SiC), Gallium Nitride (GaN), Silicon (Si)
4) By Industry Vertical: Telecommunication, Industrial, Automotive, Renewable, Consumer And Enterprise, Military, Defense And Aerospace, Medical
What Emerging Trends Are Shaping The Power Discrete And Module Market Landscape?
Major players in the power discrete and module market are innovating with products like dual-phase power modules to address the increasing need for energy-efficient and high-performance solutions across different industries. Dual-phase power modules are advanced electronic components designed to manage power efficiently and reliably. These modules consolidate various power elements, such as transistors, diodes, and control circuits, into a single unit. For example, in February 2024, Infineon Technologies, a German semiconductor company, introduced the TDM2254xD series dual-phase power modules. These modules are engineered to improve power supply efficiency for AI applications in data centers, featuring OptiMOS MOSFETs, a unique packaging design, and a proprietary magnetic structure that enhances heat dissipation through an optimized inductor design.
Which Region Has The Fastest Expansion In The Power Discrete And Module Market?
North America was the largest region in the power discrete and module market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the power discrete and module market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.