According to a new market report published by Lucintel, the future of the
power module market looks attractive with opportunities in the transportation, industrial, wind energy, and solar PV industries. The global power module market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $12.4 billion by 2025 with a CAGR of 15% to 17% from 2020 to 2025.. The major drivers for this market are high growth of electric vehicles, increasing focus of consumers for minimizing power losses, and maximizing power savings.
In this market, various power module, such as insulated gate bipolar transistors (IGBTs), field effect transistor (FET), and silicon carbide (SiC) are used in industrial devices, wind turbines, automobiles, etc. Lucintel forecasts that IGBT will remain the largest product type and it is also expected to witness the highest growth over the forecast period due to its increasing demand in various power electronics applications, such as inverters, converters and power supplies.
Within the power module market, transportation will remain the largest end use industry and it is also expected to witness the highest growth over the forecast period supported by growth of the electric vehicles.
APAC will remain the largest region and it is also expected to witness highest growth over the forecast period due to growth of the electric vehicles and solar photovoltaic industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include the emergence of IGBT high power modules and development of high temperature SiC power module. Infineon, Fuji Electronics, Semikron, STMicroelectronics, and Mitsubishi Electric Corporation are among the major power module providers.
Lucintel, a leading global strategic consulting and
market research firm, has analyzed the global power module market by product type, voltage range, end use industry, and region and has come up with a comprehensive research report entitled “
Growth Opportunities in the Global Power Module Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global power module market by product type, application, end use industry, and the region as follows:
By Product Type [$M shipment analysis from 2014 to 2025]:
By Voltage Range [$M shipment analysis from 2014 to 2025]:
By End Use Industry [$M shipment analysis from 2014 to 2025]:
Transportation
Industrial
Wind Energy
Solar PV
Others
By Region [$M shipment analysis for 2014 to 2025]:
North America
United States
Canada
Mexico
Europe
Norway
United Kingdom
France
Germany
Asia Pacific
Japan
China
South Korea
The Rest of the World
About Lucintel