Discrete Power Electronics Market Size by Material, Voltage, End User, Region, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2030
Overview
The Discrete Power Electronics Market size was USD 1.42 billion in 2023 and is expected to grow to USD 2.49 billion by 2030 at a CAGR of 8.3%.
Discrete power electronics refers to the electronic components that are used to control or manage the power flow in various applications. These components are called "discrete" because they are individual electronic devices that can be combined to create more complex electronic systems. Thus, the discrete power electronics market includes electronic components which have a variety of applications in aspects like regulate voltages, reduce heat generation, help lower power consumption, motor control, lighting, and renewable energy systems. It was also observed that the growth rate for the Market was around 7% for the year 2021-2022 due to the influence of COVID-19 and Russia-Ukraine war. This growth is being driven by the increasing demand for energy-efficient electronic devices, the growing adoption of renewable energy sources, and the need for improved power management and control in various industries. Additionally, the increasing adoption of electric vehicles and the growing trend of automation in industrial processes are expected to boost the demand for discrete power electronics components. Also, the Discrete Power Electronics industry is majorly focussed in the Asia-Pacific region for manufacturing because of reduced raw material and labour costs as well as cost effective production methodology. However, North America and Europe are also expected to witness significant growth in the market due to the presence of major players and the increasing adoption of renewable energy sources in these regions.
To know about the Research Methodology :- Request Free Sample Report
Discrete Power Electronics Market Dynamics
Increasing demand for discrete power electronics in consumer electronics for domestic uses as well as aerospace and defence propels the Discrete Power Electronics Market growth during the forecast period. In the aerospace and defence sector, discrete power electronics products are adopted for various applications such as landing gear, defensive aids systems (DAS), power drive controls, engine systems and controls, cabin lighting, avionics, flight control, navigation, communications etc. The rapid expansion of electric vehicle manufacturing is considerably contributing to the growth of the Discrete Power Electronics industry. Discrete Power Electronics is utilised in numerous parts of electric vehicles to govern electric energy flow and play a vital role in energy management. Surveys conducted by International Energy Agency (IEA) represents, there were more than 10 million electric automobiles manufactured worldwide in 2020 with a 43 percent increase from 2019, which represents that any growth in the electric vehicles market eventually leads to an rise in the market demand for Discrete Power Electronics.
The primary trends that are gaining prominence in the Discrete Power Electronics Industry include technological improvements. Major companies in the Discrete Power Electronics Sector are focused on developing advanced technologies to meet the consumer demand. STMicroelectronics, for example, introduced STi2GaN, a smart power component in its ST Intelligent and Integrated Gallium Nitride solutions family, in 2021. The STi2GaN uses bond-wire-free packaging technology, which provides exceptional durability, reliability, and performance. As a result, this technical innovation will most certainly produce several market growth chances in the upcoming years. Also, the innovations in the Power semiconductor devices have opened multiple ways for newer devices such as gallium nitride field effect transistors (FETs), silicon carbide, and power diodes, which will create multiple prospects for market expansion. These devices make use of discrete power electronics, allowing for high-voltage operation, thermal management, and efficiency. Furthermore, even in noise-sensitive areas, the widespread use of discrete power electronics has replaced linear power supplies and voltage regulators.
During the forecasted period, the complex design of Discrete Power Electronics is expected to hinder the market growth. Similarly, assembling and connecting all separate components in discrete power electronics devices takes longer and takes up more space. As a result, these factors obstruct the pace at which then market is growing. The impact on the influencing market, the current market scenario of raw material shortages, shipping delays, as well as the expected impact of economic slowdown on the pricing and availability of products are also some other factors that may slowdown the growth of the Discrete Power Electronics Market.
Discrete Power Electronics Market Segment Analysis
By Material: Some of the common materials used to manufacture Discrete Power Electronics components are Silicon (Si), Silicon Carbide (SiC), and Gallium Nitride (GaN). The use of SiC and GaN types has increased over the last few years, due to the advancement in technology. Highest CAGR is recorded to be in the Gallium Nitride segment. While, Silicon based components are still used in a large number due to their low cost, high reliability, and wide availability.
By Voltage: The Discrete Power Electronics Market comprises of three voltage segments which are Low (0V-100V), Medium (100V-1000V) and High (>1000V). In general, the market demand for Low Voltage Discrete Power Electronics components is very high in accordance to the rise in demand for consumer electronics.
By End-User: Some of the common end-user industries of discrete power electronics components include Information Communications Technology (ICT), Consumer Electronics, Energy and Power, Industrial, Automotive, Aerospace and Defence etc.
Discrete Power Electronics Markets Regional Insights
Asia-Pacific: The strong demand for Discrete Power Electronics from numerous end-user sectors, Asia-Pacific dominates the market. Furthermore, the region's strong market base for the automotive sector is expected to propel the growth in the market. China, Japan, South Korea and India are the regional leaders.
North America: This region will continue to have the greatest growth rate during the projection period of 2024-2030, owing to the rise in the use of discrete power electronics in automotive, ICT, and industrial applications in this region. Furthermore, the presence of large market players and the increasing adoption of IoT-based technologies drive the market growth. USA and Canada are the key players in this region.
The Discrete Power Electronics Market in the other three regions i.e. Europe, South America and Middle-East & Africa are influenced by the market growth in the above two regions.
Discrete Power Electronics Market Scope: Inquire before buying
| Discrete Power Electronics Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018to 2023 | Market Size in 2023: | USD 1.42 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 8.3 % | Market Size in 2030: | USD 2.49 Bn. |
| Segments Covered: | by Material | 1.Silicon 2.Silicon Carbide 3.Gallium Nitride |
|
| by Voltage | 1.Low 2.Medium 3.High |
||
| by End User | 1.Information Communications Technology (ICT) 2.Consumer Electronics 3.Energy and Power 4.Industrial 5.Automotive 6.Aerospace and Defence |
||
Discrete Power Electronics Market By Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Competitive Landscape in Discrete Power Electronics Industry
The discrete power electronics industry is highly competitive, with numerous players offering a wide range of products and services. The industry is driven by factors such as the increasing demand for energy-efficient power electronics, the growth of renewable energy sources, and the rising trend of electric vehicles. Smaller players in the industry are leveraging their agility and flexibility to introduce innovative products and gain a foothold in the market. They are also partnering with other players to expand their reach and offer more comprehensive solutions. Additionally, some companies are focusing on specific niche markets or applications to differentiate themselves from larger players.
Key Players: Discrete Power Electronics Industry
1.Infineon Technologies
2. ON Semiconductor
3.STMicroelectronics
4. Vishay Intertechnology
5. Toshiba Electronic Devices & Storage Corporation
6. Renesas Electronics Corporation
7. Mitsubishi Electric Corporation
8. Nexperia
9. Toshiba Corporation
10. ROHM Semiconductor
11. Diodes Incorporated
12. NXP Semiconductors
13. Texas Instruments
14.Fairchild Semiconductor
15. Semtech Corporation
16. Microsemi Corporation Toshiba Corporation
17.NXP Semiconductors LLC
18.SEMIKRON
19. Mitsubishi Electric Corporation
20.Texas Instruments Incorporated
21. Fuji Electric Co. Ltd.
22.ABB
23.Hitachi Ltd
24. Analog Devices Inc.
25.DENSO Corporation
26. Mitsubishi Electric Corporation
27.Vishay Intertechnology Inc.
28. Qualcomm Technologies Inc.
29.ROHM CO LTD
30. GaN Systems
FAQs:
1. What are the growth drivers for the Discrete Power Electronics Market?
Ans. The growth drivers for the discrete power electronics market include increasing demand for energy-efficient and high-power applications, growing adoption of WBG (Wide Band-Gap) materials, rising demand for consumer electronics, increasing demand for power management solutions, and growing investment in renewable energy.
2. What is the major restraint for the Discrete Power Electronics Market growth?
Ans. The major restraints in the discrete power electronics market include high manufacturing costs, complex design and testing procedures, and increasing competition from integrated power electronics solutions.
3. Which region is expected to lead the global Discrete Power Electronics Market during the forecast period?
Ans. Asia Pacific is expected to lead the global Discrete Power Electronics Market during the forecast period, with a CAGR of 7%.
4. What is the projected market size & growth rate of the Discrete Power Electronics Market?
Ans. The Discrete Power Electronics Market size was valued at USD 1.42 Billion in 2023 and the total revenue is expected to grow at a CAGR of 8.3% from 2024 to 2030, reaching nearly USD 2.49 Billion.
5. What segments are covered in the Discrete Power Electronics Market report?
Ans. The segments covered in the Discrete Power Electronics Market report are by Material, by Voltage, by End-user, and by Region.