India Discrete Power Semiconductor Devices Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

India Discrete Power Semiconductor Devices Market Analysis

The Indian discrete power semiconductor devices market generated revenue of USD 1,310.3 million in 2023, which is expected to witness a CAGR of 12.5% during 2024–2030, to reach USD 2,967.0 million by 2030. The key factors responsible for the growth of the industry include the rapid deployment of EVs and the increase in demand for power electronic modules across various industries, such as aerospace, medical, and defense.

For instance, in tune with the Aatmanirbhar Bharat initiative and in order to position India as a global hub for electronic system design and manufacturing, the Indian government has approved a comprehensive program for the development of a sustainable semiconductor and display ecosystem in the country. In total, the Government of India has committed USD 30 billion (INR 2,30,000 crore) to position India as a global hub for electronics manufacturing, with semiconductors as the foundational building block.

Additionally, the Indian government has adopted several policies to encourage the deployment of EVs. For instance, in August 2021, the Ministry of Road Transport and Highways issued a notification exempting EVs from charges for the issue or renewal of registration certificates. Moreover, the Telangana government has exempted the first 200,000 electric two-wheelers from road tax and registration fees, while the Gujarat government is offering subsidies to students purchasing electric two-wheelers, e-rickshaw drivers, and self-employed people buying electric three-wheelers.

India Discrete Power Semiconductor Devices Market Trends & Drivers

Miniaturization in Semiconductors and Electronics

• The trend of the miniaturization of discrete power semiconductors has grown significantly in the recent past due to the various advantages miniaturized discrete power semiconductors offer, such as greater density and, thus, shorter signal paths. With the increase in the density of transistors, the chip size and board size for an electronic device decrease. Owing to the smaller size of discrete devices, the circuits containing them are rather compact. For instance, AC adapters for computers are much smaller than they were 10 to 20 years ago.
• Several companies are expanding their miniaturized discrete product portfolios to cater to the changing consumer preferences. For instance, in May 2021, ON Semiconductor launched automotive AECQ101 and industrial-grade qualified next-generation 1,200-V SiC diode, suitable for high-power applications, such as EV charging stations and solar inverters, EV on-board chargers (OBC), and EV DC–DC converters. The products are an improvement on first-generation SiC diodes, with a smaller die size and lower capacitance. The smaller die size returns a 20% lower thermal resistance in an electrical device. This product will result in improved efficiency, higher power density, lower electromagnetic interference (EMI), and reduced system size and weight. The 1,200-V and 900-V N-channels feature a small chip size, which not only reduces the device capacitance, but also the gate charge, in turn, reducing switching losses when operating at the high frequencies required by EV chargers. The high thermal conductivity of SiC allows for better heat dissipation, thereby offering smaller form factors than silicon. This results in cost-effective electrical devices with smaller packaging.

Rapid Deployment of EVs Is Major Factor Driving Market

• Nowadays, semiconductor companies are launching newer devices that can help improve the specifications of EVs, which make them more popular among the masses. For instance, in May 2021, Infineon Technologies launched a power module with the SiC MOSFET technology for automotive applications. The use of SiC instead of Si ensures higher efficiency in the converters of EVs.
• Moreover, the Indian government has adopted several policies to encourage the deployment of EVs. For instance, in August 2020, the Delhi government launched the Delhi EV Policy to drive the transition to battery EVs, to contribute to 25% of the total new vehicle registrations in the city by 2024. In phase 1, 100 EV charging bays and battery swapping stations, each with the capacity to charge five vehicles, came up in 100 locations in the city, most of them on land owned by the Delhi Metro Rail Corporation (DMRC).

Rising demand for ICs

• A key factor restraining the market growth is the rising demand for ICs and a small scope for further innovation in the discrete semiconductor technology. The ability to fit hundreds of millions of transistors on a single chip has been enabled by the reduction of transistors to diameters below 100 nanometers (nm).
• Furthermore, the increasing activity among manufacturers in terms of chip size reduction has resulted in a surge in the demand for ICs in electrical and electronic devices, particularly smartphones, TVs, and wearable devices. End users and the semiconductor industry have benefited from the greater functionality and lower costs of a wide range of ICs and systems. The low manufacturing costs, higher data transfer speeds, computer processing power, and the ability to handle several tasks at once are a few of the benefits of transistor scaling.
• Additionally, the assembling and wiring of separate components in discrete power semiconductor devices takes time, and it usually leads to the occupation of space, which makes the circuit larger. Moreover, the wires and components are usually connected with the soldering process. Soldering by hand affects reliability due to unfavorable solder joint behavior, component damage, and dirt. Additionally, it can add resistance on the circuit, as the soldering process can generate heat of up to 400 degrees Celsius, which can damage the component.

Major Opportunity Areas

• The increasing demand for intelligent power modules (IPMs) from the consumer electronics sector to improve energy efficiency, which is a major opportunity for the growth of the market.
• Design engineers are making efforts to reduce energy consumption and limit energy costs in air conditioning (AC) units, compressors, fans, and other devices. However, demanding electromagnetic compatibility (EMC) specifications, limited space, and harsh operating environments pose tough design challenges for engineers.
• IPMs offer design engineers a smart solution by integrating all the necessary power semiconductors and the driver circuit in a single integrated package. They help engineers simplify product design and meet their energy efficiency goals.
• The rising adoption of connected consumer devices drives the growth of the market. Power electronics are used in many home appliances, such as AC power supplies, dishwashers, washing machines, and induction heaters. Most power electronics used today have improved load controls, such as variable-speed drives for motors that drive fans, pumps, and compressors, or switching power supplies found in most consumer electronics.

In-Depth Segmentation Analysis

Application Analysis

• In 2023, the EV category accounted for the major market share of 35%, and it is expected to maintain its lead during the forecast period (2024–2030) as well. This can be mainly attributed to the rapid deployment of EVs, coupled with the increasing concerns over the environmental impact and surging emission regulations in the country.
• The two-wheeler vehicle type is expected to be the faster-growing category in the market in the coming years. This can be majorly driven by the increasing demand for high-speed electric two-wheelers. For instance, 728,054 units of electric two-wheelers were sold in fiscal year 2022–23, which was more than double the figures from the previous year, which recorded 252,641 units.
• The SiC material type held the dominating share of the market in 2023, and the category is also expected to retain its position during the forecast period. This can be mainly because SiC provides high-temperature resistance, low power consumption, rigidity, and support for smaller, thinner designs that semiconductor devices and electronics need.
• The TO-247 package type accounted for the major market share over the past few years, and it is expected to maintain the lead during the forecast period as well. This category is further expected to grow at a healthy CAGR during the forecast period. This can be primarily because this type of packaging provides good thermal conduction directly to a heat sink, accommodation of large die size for higher current and lower on-resistance devices, and minimal stress in mounting activities.

Below are the major applications in which discrete power semiconductor devices play an important role:

• Electric Vehicle (EV) (Largest and Fastest-Growing Category)
  • Two-wheeler
  • Three-wheeler
• Solar Power Generation
• Domestic Power Inverter
• Power Sector
  • Solid-state circuit breaker
  • Micro-grid application

Below are the major applications in which discrete power module semiconductor devices play an important role:

• Electric Vehicle (EV) (Largest and Fastest-Growing Category)
• Solar Power Generation
• Domestic Power Inverter
• Power Sector

Competitive Analysis

The Indian discrete power semiconductor devices market has a large number of players, which has increased the competition in the industry. In recent years, players in the market have been involved in product launches in order to attain a significant position.

Discrete Power Semiconductor Devices Industry News

• In March 2022, Infineon Technologies AG launched the new EDT2 IGBTs in a TO247PLUS package. These IGBTs have an automotive micro-pattern trench-field-stop cell design, and the technology they are based on is used in many inverter modules, such as the HybridPACK and EasyPACK 2B EDT2. The EDT2 technology is optimized for traction inverters and has a breakdown voltage of 750 V, supporting battery voltages up to 470 V DC, and majorly helping in reducing switching and conduction losses.
• In January 2022, Nexperia B.V. introduced the 50 µA Zener diode range in three different surface-mount device package options and an ultra-small discrete flat no-leads package, along with AEC-Q101 qualified parts. 40 new types in every package option range from 1.8 to 75 V in nominal working voltages and are available in SMD SOT23 (BZX8450), SOD323 (BZX38450), leadless DFN1006BD-2 (BZX8850S) package, and SOD523 packages (BZX58550), which are all the ultra-low-profiles. The diodes’ non-repetitive peak reverse power dissipation is ≤40 W, while the total power dissipation is ≤300 mW; they also feature low dynamic resistance.
• In February 2022, Littelfuse Inc. announced the SP33R6 series of four-channel TVS diode arrays with low capacitance (0.2 pF). These diodes have a low breakdown/turn-on voltage, which enables them to effectively protect low-voltage (–0.3 to +0.3 V) high-speed data lines. Without degrading the performance, they absorb repetitive electrostatic discharge strikes above the maximum threshold specified in the IEC 61000-4-2 international standard (level 4, ±8 kV contact discharge).
• Vishay Intertechnology Inc. has introduced two new n-channel TrenchFET MOSFETs, which enhance power density, efficiency, and board-level reliability in telecom and industrial applications. The 60-V SiJH600E and 80-V SiJH800E combine ultra-low on-resistance with a high-temperature operation to +175 °C and high continuous drain current handling. Their space-saving PowerPAK 8x8L package promotes board-level reliability with its bond wireless construction and gullwing leads for mechanical stress relief.