Research Nester has released a report titled “Power Modules Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global power modules market in terms of market segmentation by voltage, technology, vertical and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global power module market is segmented by voltage into 200V to 600V, 601V to 1200V, 1201V to 3kV and more than 3kV, out of which, the 200V to 600V segment, which held the largest market share of 52.12% in the year 2019 is anticipated to register the highest CAGR of 9.06% throughout the forecast period, i.e. 2020-2028, and further attain a market value of USD 5582.2 million by the end of 2028. Moreover, the segment is anticipated to gain an incremental $ opportunity of USD 183.8 million in the year 2020 as compared to the previous year.
The global power module market is anticipated to register a CAGR of 8.74% across the globe over the forecast period. The market is thriving on account of factors such as growing demand for communication infrastructure, rising focus on IoT, new innovations in power packaging, rising demand for power modules in consumer electronics sector, increasing product launches by several key players globally, increasing demand for electric vehicles and hybrid-electric vehicles and the growth of silicon-carbide (SiC) and gallium nitride (GaN) are expected to contribute towards the growth of the global power modules market.
Regionally, the global power module market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market of Asia Pacific power module market is anticipated to register the highest CAGR of 9.39% throughout the forecast period. Additionally, the region, which held the largest market share of 40.08% in the year 2019 is anticipated to gain an incremental $ opportunity of USD 148.1 million in the year 2020 as compared to the previous year.
Increasing Miniaturization of Electronic Products
Over the years, technological advancements in electronic products has led to the miniaturization of electronic products. As a result, the demand for integrated power modules across major industry verticals such as automotive, manufacturing, industrial and others, where these power modules are used massively, have grown significantly. Moreover, the increasing miniaturization of the electronic products has also raised the necessity to develop power modules with greater functionality and performance. On the other hand, the manufacturers of electronic goods have also observed significant challenges to develop power modules that can operate without a heat sink and yet deliver greater efficiency with lesser thermal output. Such factors are anticipated to drive the growth of the global power modules market.
However, high cost of power modules along with the constrained supply chain for products such as rectifiers and MOSFETs that are faced by manufacturers globally are some of the factors anticipated to hamper the growth of the global power modules market.
This report also provides the existing competitive scenario of some of the key players of the global power modules market, which includes company profiling of Fuji Electric Co., Ltd. (TYO: 6504), Mitsubishi Electric Corporation (TYO: 6503), Semikron Group, Infineon Technologies AG (ETR: IFX), Texas Instruments Incorporated (NASDAQ: TXN), Dynex Semiconductor Ltd., Semiconductor Components Industries, LLC (ON Semiconductor Corporation) (NASDAQ: ON), ABB (NYSE: ABB) and NXP Semiconductors (NASDAQ: NXPI). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global power modules market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.