The India discrete power semiconductor devices market will generate USD 2,834.2 million, propelling at a 12.2% compound annual growth rate, by 2030.
The growth of the industry is mainly attributed to the swift deployment of e-vehicles and the rising requirement for power electronic modules in the medical, defense, and aerospace industries.
As an instance of aligning with the Aatmanirbhar Bharat initiative and aiming to establish India as a prominent global center for electronic system design and manufacturing, the Indian government has given its approval to an extensive program.
This program is designed to foster a sustainable semiconductor and display ecosystem within the country. To achieve this goal, the Government of India has pledged a substantial investment of USD 30 billion (INR 2,30,000 crore) to strengthen India's position as a worldwide electronics manufacturing hub, with semiconductors serving as the fundamental cornerstone.
The EV category held the largest India discrete power semiconductor devices market industry share, and it will remain the largest in the years to come. This is mainly because of the rapid e-vehicles deployment, along with the growing concerns concerning the environmental impact and mounting emission guidelines in the nation.
The industry is witnessing a surge in demand for intelligent power modules (IPMs) driven by the consumer electronics sector's need to enhance energy efficiency, presenting a significant growth opportunity. Design engineers are actively working on reducing energy consumption and cutting down energy costs in various devices, including compressors, fans, and air conditioning (AC) units.
The two-wheeler vehicle category will observe the fastest growth in the years to come. This is primarily because of the growing need for high-speed electric two-wheelers vehicles.
In the past few years, the SiC material category accounted for the largest share of the industry, and it will remain the largest in the years to come. This is primarily because SiC offers rigidity, low consumption of power, high-temperature resistance, and support for thinner and smaller designs that electronics and semiconductor devices required.
In recent years, the TO-247 package category held the major industry, and it will retain its position in the years to come as well. This category will further advance at a healthy compound annual growth rate throughout this decade.
This is attributed to the fact that this packaging type offers large die size accommodation for higher current and lower on-resistance devices, negligible stress in mounting activities, and good conduction of thermal directly to a heat sink.
It is because of the increasing need for power electronic modules across numerous industries, and the rapid deployment of e-vehicles, the India discrete power semiconductor devices industry will continue to grow in the years to come.
