Allied Market Research

2024

Power Electronics Module Market

Power Electronics Module Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Material, by Voltage and by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2023-2032

SE : Electronic Systems and Devices

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Author's: | Sonia Mutreja
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Power Electronics Module Market Outlook – 2027 

Power electronics module is an electronic device that provides physical containment for power semiconductor devices properly interconnected to form high voltage drive circuit to draw high power performance from either IGBT or MOSFET power device. Power electronic modules find large-scale applications in consumer electronic devices such as laptops, smartphones, LCDs, and DVDs to maintain stable power supply and allow devices to operate at high speeds, voltage, and temperature. 

These intelligent modules are preferably used in powertrains, infotainment devices, and safety systems of electric vehicles as they exhibit faster switching rate at higher efficiency, offer high power density, hence enhancing system efficiency and saving energy in automotive applications. 

These are further used in industrial motor drives, smart electric grid stabilization, photovoltaic inverters, and modular data centres as they are reliable and can attain very low resistance with high power efficiency. Enhancing power infrastructure and increase in dependence on renewable energy sources imply that the power electronics module market share would undergo steady growth in coming years.

The global power electronics module market is segmented on the basis of type, material, voltage, industry vertical, and region. Based on type, the power electronics module market is categorized into intelligent power module, standard power integrated module, and others. The standard power integrated module segment is further bifurcated into MOSFET and IGBT. In terms of material, the market is categorized into silicon (Si), silicon carbide (SiC), gallium nitride (GaN), sapphire, and others. 

On the basis of voltage, the market is divided into high, medium, and low. In terms of industry vertical, the market is segregated into consumer electronics, IT & telecommunication, aerospace & defense, industrial, automotive, healthcare, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Top Impacting Factors

Increase in demand for battery-powered devices such as inverters, converters, LED systems, and growth in applications in smart grid using digital communication and control systems to monitor power flaws primarily drive the power electronics module market growth. 

In addition, inclination toward renewable energy generation and necessity of high-power density in electric rail traction drives, wind, and solar power generators proliferates sales. However, high product cost, complex nature, and limitations to operate in low-voltage motor control and welding tends to hamper the power electronics module market growth.

On the other hand, rise in application of power electronic modules in RADAR systems, electronic warfare, and wireless satellite communication to perform securely and reliably in harsh environments with broad operational envelope further boosts the market revenue. Concerns regarding environmental pollution and increasing investment by the government to develop energy-efficient infrastructure aims to present new avenues to power electronics module industry.

New Product Launches to Flourish the Market

Key power electronics module market players are adopting necessary steps to improve features and performance of stacked modular solutions with a view to enhance system efficiency, hence paving way for grid parity with growing technological innovations.

In March 2020, Sungrow, high-tech enterprise specializing in sales and service of new energy power supply devices, launched SG250HX PV string inverter that comprises EasyPACK 3B Power modules equipped with TRENCHSTOP and CoolSiC chip technologies by Infineon Technologies AG. Sungrow SG250HX weighs 99kg with dimension of 1051*660*363mm3 and leading power density of 1000W/ltr. 

The on-board EasyPACK 3B power modules feature a high capacity of 250KW and enable the string inverter support high voltage of 1500VDC, 800VAC thereby offering maximum 99% efficiency. Heat sink can be reduced in size and weight by reducing passive components through increasing switching frequency. EasyPACK power modules enhance efficiency of systems through reduced cooling effort, enabling higher frequency operations to provide energy-efficient charging solutions. 

These modules features NTC temperature sensor to facilitate monitoring of devices and PressFIT technology reduces assembly time for mounting a device. These features alongwith smart-forced air cooling technology enables SG250HX to be used in photovoltaic applications and in extremely high temperatures.

Surge in Use in Industrial and Automotive Application

Power electronic modules with high power density are used in body electronics, telematics, infotainment, safety & security systems and powertrain & chassis system of electric and hybrid vehicles, hence curbing environmental pollution.

In June 2020, STMicroelectronics, a global semiconductor leader, introduced a web-based ecosystem named STM32 D-Power website to help build digital power solutions using STM32 MCUs (microcontrollers). The power website comprises STM32 digital power discovery kits, embedded software components, and dedicated power supply boards that demonstrates design and different power ratings. 

The D-power ecosystem supports entry-level STM32F334, advanced STM32G474, high-performance STM32H7 series MCUs comprising high-resolution timer to generate accurate PWM signals for stable control of switched-mode power circuits for digital-power applications. Digital control enables designers optimize energy efficiency, capture data for safety and increase power density to enhance size savings in data centre infrastructure, smart lighting, and advanced mobile devices.

Key Benefits of the Stakeholders

  • The study gives an analytical overview of power electronics module market forecast with current trends and future estimations to determine imminent investment pockets.
  • The report provides information related to key drivers, restraints, and opportunities along with detailed power electronics module market analysis.
  • The current power electronics module market trends quantitatively analyzed.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

COVID-19 Scenario Analysis

  • In response to COVID-19, the global electronics devices market is expected to be abruptly impacted as China is one of the major suppliers of raw materials and finished products. There is a short-term demand lapse, which has led the market share to fall, owing to the lockdown of operations and travel restrictions on a global basis.
  • The scarcity of raw materials is expected to cause price fluctuations, which are anticipated to cause dip in the power electronics module market share. It is expected to face unprecedented demand loss, owing to halt in automotive operations in industries, power plants as well as in automobile sector, owing to lockdown restrictions and ban on transportation. The market is anticipated to make steady rebound with commencement of production and operations. 

Questions Answered in the Power Electronics Module Market Research Report

  • Who are the leading market players active in the power electronics module market?
  • What would be the detailed impact of COVID-19 on the power electronics module market size?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the power electronics module market?
  • What are the projections for the future that would help in taking further strategic steps? 

Power Electronics Module Market Report Highlights

Aspects Details
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By Type
  • Intelligent Power Module
  • Standard Power Integrated Module
    • MOSFET
    • IGBT
  • Others
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By Material
  • Silicon (Si)
  • Silicon Carbide (SiC)
  • Gallium Nitride (GaN)
  • Sapphire
  • Others
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By Voltage
  • High
  • Medium
  • Low
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By Industry Vertical
  • Consumer Electronics
  • IT and Telecommunication
  • Aerospace and Defence
  • Industrial
  • Automotive
  • Healthcare
  • Others
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By Region
  • North America  (US, Canada)
  • Europe  (Germany, UK, France, Russia, rest of Europe)
  • Asia Pacific  (India, Japan, rest of Asia Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

NXP Semiconductors, Maxim Integrated., Vishay Intertechnology, Mitsubishi Electric, STMicroelectronics, ON Semiconductors, Texas Instruments, Infineon Technologies, Fuji Electric, ABB Ltd.

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Power Electronics Module Market

Global Opportunity Analysis and Industry Forecast, 2023-2032