Power Discrete and Modules Market Size - By Type, By Component, By Material, and By Application - Global Forecast, 2025 - 2034

Power Discrete and Modules Market Size

The global power discrete and modules market was valued at USD 29.8 billion in 2024, with a volume of 5,668.6 million units and is estimated to grow at a CAGR of 6.1% to reach USD 53.4 billion by 2034, with a volume of 9,951.2 million units. The growth of the market is attributed to factors such as the expansion of 5G infrastructure & data centres coupled with the rapid growth of consumer electronics industry.
 

The Trump administration applied tariffs to Chinese electronics and semiconductor imports through Section 301, which substantially affected the power discrete and modules market operations. Manufacturers operating in the United States experienced increased component expenses, as they obtained MOSFETs and IGBTs from Asian suppliers through silicon materials. The new tariff policy drove companies to look for suppliers in their geographic area and invest in semiconductor fabrication facilities at home as well as seek domestic component suppliers. Calculation of SiC/GaN materials accelerated through Chinese firm R&D initiatives because they wanted to decrease their dependence on U.S. suppliers. The tariffs caused international trade disruptions which resulted in market price instability and product hoarding behaviour while simultaneously changing how companies in the automotive and industrial sectors obtained materials and determined innovation periods and renewable product development.
 

The expansion of 5G infrastructure & data centres serves as a primary factor behind the growth of the power discrete and modules market. 5G base stations and network edge device handles massive data volume at ultra-low latency, which require high switching frequency, efficient heat dissipation, and low power loss where power discrete components such as MOSFETs, IGBTs, and SiC or GaN based modules are used to enhance signal processing, reduce energy consumption, and increasing reliability in network uptime. In addition, modern hyperscale and edge data centres such as Google, Amazon, and Microsoft require stable, thermally managed and energy converted power supply, where power modules are used to ensure low power loss and energy efficiency, which further reduces carbon footprint and operational costs. For instance, the Indian data center capacity is anticipated to grow over 66% by the year 2026 with an investment of over USD 3.9 billion, as stated by IBEF.
 

The rapid growth of consumer electronics industry is another major growth driver for the growth of power discrete and modules market. The proliferation of battery operated devices, which require battery management systems along with the surge in demand for smart home & IoT devices such as smart speakers, smart TVs, home automation, and Wi-Fi routers is pushing the growth in the market. Furthermore, the rapid adoption of USB-C power delivery (PD) and quick charging protocols further fuels the demand for high performance power discrete and modules to ensure fast and safe charging with real time power regulation.
 

Manufacturers can focus on enhancing thermal and voltage regulation. Players can focus on development of advanced voltage control features and incorporate intelligent thermal management to ensure safe charging across devices. This is expected to help players strengthen their product offering.
 

Power Discrete and Modules Market Trends

• The development of dual phase power modules, that integrates multiple power components such as transistors, diode, and control circuitry into a single package while ensuring efficient and reliable power delivery, is a significant trend in the market. These advanced modules are particularly effective for high power demand such as AI operations in data centres and enhances power supply efficiency and thermal management.
   
• This trend is expected to create new opportunities for players as they can focus on incorporating new advanced features that aid in flexible current distribution, enabling efficient load handling under varying AI workloads. This introduction of new product is expected to create new opportunities for players.
   
• Another significant trend in the market is the rapid adoption of wide bandgap semiconductor materials such as silicon carbide & gallium nitride  due to their superior electrical properties compared to traditional silicon. These advanced semiconductors enable high voltage operation, greater energy efficiency, and reduced heat generation, which makes them popular among electric vehicles, renewable energy systems, and industrial applications.
   
• The advancement in thermal management technology such as improved heat sinks and optimized inductor design are further being implemented to handle increased power density of modern modules. Thermal management systems are crucial to ensure performance and reliability in high power applications such as EVs and data centres.
   

Power Discrete and Modules Market Analysis

Based on the type, the market is segmented into power module and power discrete.
 

• The power module market was valued at USD 12.4 billion in 2024. The power module segment experiences strong market growth because of its superior integration capabilities along with excellent thermal performance and high efficiency, which serves multiple industries requiring high-power requirements. Furthermore, the surging demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs) has greatly boosted the market for high-voltage SiC power modules, which is used in traction inverters and onboard chargers. Also, the development of renewable energy frameworks in solar and wind such as high efficiency inverter solar systems relies on advanced module powered system to operate, which further contribute to the growth of this segment.
   
• The power discrete market is witnessing fastest growth and is projected to grow with a CAGR of 6.4% during the forecast period. The power discrete segment continues to expand steadily, driven by its critical role in compact, low-to-medium power applications requiring flexible, cost-efficient power control solutions. In the consumer electronics sector, devices such as smartphones, laptops, and wearables are further propelling the demand for precise power regulation, fast charging, and energy-efficient thermal management, all of which is supported by discrete components such as MOSFETs and diodes. Additionally, the rapid expansion of 5G infrastructure and data centers has further fuelled the demand for high-speed and low-loss switching devices, which further contributes to the growth of this segment.
   

Based on the component, the power discrete and modules market is categorized into thyristor, diode, rectifier, MOSFET, IGBT, and others.
 

• The MOSFET market was valued at USD 8.7 billion in 2024. This component are witnessing sustained demand growth owing to their efficiency in low to medium power applications, particularly within consumer electronics, automotive systems, and power supply units. Their fast switching speed, high input impedance, and superior thermal performance make them indispensable in compact, high-frequency circuits such as mobile devices, laptops, gaming systems, and power adapters. Furthermore, the increasing adoption of GaN-enhanced MOSFETs in fast-charging applications, particularly in smartphones and electric vehicle (EV) chargers has further expanded their commercial relevance, all of which is driving the growth of this segment in the market.
   
• The IGBT market is the fastest growing market and is projected to grow with a CAGR of 8.4% during the forecast period. IGBTs are cornerstone of high-power applications where energy efficiency, voltage tolerance, and thermal robustness are essential. The exponential growth of electric vehicles (EVs), rail traction systems, and industrial motor drives has led to heightened demand for IGBT modules, that can handle high currents while reducing switching losses. Their ability to operate at high voltages, while maintaining control efficiency makes them ideal for inverter systems in renewable energy, especially in wind and solar farms. Furthermore, advancements in packaging and thermal management technologies have extended IGBT application into aerospace, HVAC systems, and large-scale uninterruptible power supplies.
   

Based on the material, the market is bifurcated into Si, SiC, GaN, and others.
 

• The Si material market was valued at USD 11.3 billion in 2024. Silicon remains the dominant material in the power discrete and modules market due to its cost-effectiveness, mature fabrication ecosystem, and well-established integration in a wide range of applications. Its versatility and proven reliability make it the material of choice in consumer electronics, industrial control systems, lighting, and low-to-medium voltage power supplies. The scalability of silicon components, including MOSFETs and IGBTs, continues to support their widespread use in price-sensitive markets and legacy systems. Additionally, ongoing innovations in silicon trench technology and packaging techniques are extending the performance envelope of traditional Si devices, enabling improved switching efficiency and thermal stability.
   
• The SiC material market is the fastest growing and is projected to grow with a CAGR of 7.1% during the forecast period. The growth of this material arises from its advantage of achieving higher breakdown voltage along with faster switching speed and superior thermal conductivity, when compared to silicon materials. SiC materials are gaining rapid adoption in electric vehicle drivetrains as well as high-frequency equipment including onboard chargers and fast DC charging stations and renewable energy inverters. Its higher temperature and voltage capabilities lead to more efficient systems while requiring less cooling and occupying reduced space which is essential for automotive and aerospace applications.
   

Based on the application, the power discrete and modules market is divided into telecom & data centres, industrial, automotive, renewable energy, consumer electronics, and others.
 

• The industrial market was valued at USD 7.9 billion in 2024. This segment growth is supported by the rapid adoption of automation, robotics, and energy efficient motor control systems. In addition, the global implementation of smart manufacturing along with Industry 4.0 requires advanced power management systems for industrial automation and industrial robots, augmenting the growth of this segment.
   
• The automotive market is the fastest growing and is projected to grow with a CAGR of 8.7% during the forecast period. The automotive segment is one of the highest potential verticals in the power discrete and modules market due to the global shift towards electric vehicles (EV) and advanced driver-assistance systems (ADAS). In addition, the widespread use of automotive infotainment systems, as well as lighting and active safety systems, drives greater demand for power discrete.
   

• The U.S. dominated the power discrete and modules market, accounting for USD 7.9 billion in the year 2024. This growth is significantly driven by rising adoption of EV coupled with the rapid expansion of renewable energy infrastructure, particularly in solar and wind power, which is propelling the demand for power discrete and modules. Additionally, the increasing investment from government towards aerospace and defense sector further fuels the demand for power modules in radar, avionics, and energy dense defense systems. Also, the surge in adoption of industrial automation and smart factories relies on robust power discrete and modules, which is expected to drive market expansion in the region. For instance, there were over 365,800 battery electric vehicles were sold in the fourth quarter of 2024, which is a significant increase of 15.2% compared to previous years, as stated by Statista.
   
• The Germany power discrete and modules market accounted for USD 1.7 billion in the year 2024. The growth in the country is driven by the aggressive shift towards renewable sources from fossil fuels, which has led to an increasing demand for efficient power components. Also, Germany is a leader in automotive manufacturing with presence of several companies such as BMW, VW, and Mercedes, which are further driving the demand for SiC and GaN based modules to cater the surge in demand for EVs. Moreover, the rapid deployment of smart grids coupled with electrification of rail and manufacturing system further contributes to growth of market.
   
• The power discrete and modules market in China is projected to reach USD 7.7 billion by the year 2034.  The increasing production and adoption of electric vehicles coupled with the nationwide infrastructure development and 5G roll out are the major growth driver pushing the growth of market in the region. Furthermore, the government in China has introduced heavy subsidies and local incentives for renewable energy and semiconductor production.
   
• The Japan power discrete and modules market accounted for USD 1.6 billion in 2024. The aging infrastructure modernization is pushing the demand for power efficient modules to ensure earthquake resilient infrastructure, backed by smart and modular energy systems. Furthermore, the advancement in technology has led to deployment of high tech & robotics in semiconductor industry, which relies on power modules for motor drives and control circuits.
   
• The India power discrete and modules market is anticipated to grow at a CAGR of over 7.4% during the forecast period. The growth in the region is driven by the implementation of several initiatives such as Make in India, and India Semiconductor Mission – 2022, which encourages manufacturers for power module manufacturing. Moreover, the rural electrification, massive urban development, and metro rail projects, which require efficient power solutions. Also, the rapid expansion of data centres and industrial automation which further propels the demand for power discrete components, which are critical in UPS, SMPS, and high efficiency power delivery.
   

Power Discrete and Modules Market Share

The power discrete and modules industry is highly competitive and fragmented with the presence of established global players as well as local players and startups. The top 3 companies in the global market are Infineon Technologies AG, ON Semiconductor (onsemi), and STMicroelectronics, collectively accounting for a share of 26.8% market share. Leading companies in the market are investing in the next-generation power solutions which prioritizes wide bandgap semiconductor integration (SiC & GaN), enhanced thermal management, miniaturized packaging, and automotive grade reliability.
 

The innovation in the market such as SiC MOSFETs modules for electric vehicles, GaN based low voltage discrete for consumer electronics, and advanced packaging techniques such as double sided cooling and chip scale packaging,  are gaining rapid popularity among manufacturers. Additionally, the advancement in technological advancement has further enabled higher power density, reduced switching losses, and superior thermal efficiency, which are critical for compact and energy demanding applications such as EVs, industrial drives, and renewable energy systems.
 

Power Discrete and Modules Market Companies

The power discrete and modules industry features several prominent players, including:

• Danfoss
• Fuji Electric
• Infineon Technologies
• Littelfuse
• Microchip Technology
• Mitsubishi Electric
• ON Semiconductor
• Powerex
• Renesas Electronics
• ROHM Semiconductor
• Sanken Electric
• Semikron
• STMicroelectronics
• Texas Instruments
• Toshiba
• Vishay Intertechnology
• Wolfspeed
   

Infineon Technologies differentiates itself through its comprehensive portfolio of power semiconductors and system solutions, as well as its focus on energy efficiency and electromobility. Their strength lies in their wide range of products, including MOSFETs, IGBTs, diodes, and power modules, designed for applications such as automotive, industrial, and consumer electronics. Infineon's commitment to innovation is evident in its advanced technologies, such as silicon carbide (SiC) and gallium nitride (GaN), which offer superior performance in terms of power density, efficiency, and thermal management.
 

ON Semiconductor extends power solution offering to diverse energy-saving products, which prioritize both big-volume demands and affordable pricing approaches. ON Semiconductor produces MOSFETs, IGBTs, diodes, rectifiers, and power management ICs, for their automotive industrial and communications market targets. The company offers complex integrated solutions, due to its expertise in analog and mixed-signal technologies which helps customers simplify their designs and minimize component requirements.
 

Power Discrete and Modules Industry News

• In January 2025, Wolfspeed introduced their Gen 4 technology platform, which offers design capabilities based on efficiency and durability along with lower system cost and shorter development periods. Gen 4 exists to simplify design challenges and switching behaviours that designers face in high-power applications while creating a multi-year development framework for Wolfspeed's power module and discrete component.
   
• In September 2024, Wolfspeed introduced their silicon carbide module which serves to revolutionize renewable energy technology and energy storage and high-capacity fast-charging systems through enhanced reliability and efficiency and durability and scalability. Wolfspeed launched the baseplate-less 2300V silicon carbide power modules by utilizing their advanced 200mm silicon carbide wafers.
   
• In October 2022, ON Semiconductor (onsemi) has launched a new line of power modules in transfer molded technology designed for onboard charging applications and HV DCDC conversion in all electric vehicle (xEV) types. The APM32 series is the first module to integrate SiC technology into a transfer molded package, enhancing xEV efficiency, reducing charge time, and meeting the demands of 11 to 22kW OBCs.
   

The power discrete and modules market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and volume (Million Units) from 2021 to 2034, for the following segments:

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By Type       

• Power discrete        
• Power module

By Component      

• Thyristor      
• Diode 
• Rectifier       
• MOSFET       
• IGBT  
• Others

By Material 

• Si      
• SiC    
• GaN   
• Others

By Application      

• Telecom & data centers      
• Industrial     
• Automotive   
• Renewable energy   
• Consumer electronics         
• Others
• Military & defense
• Medical

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific 
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America 
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa 
  • Saudi Arabia
  • South Africa
  • UAE