Published: March 2022 | Report Code: 12277 | Available Format: PDF | Pages: 203
The Indian discrete power semiconductor devices market size is estimated to have stood at $1,007.7 million in 2021, and it is expected to grow at a CAGR of 12.2% during 2021–2030. 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 $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 Gujarati government is offering subsidies to students purchasing electric two-wheelers, and e-rickshaw drivers and self-employed people buying electric three-wheelers.
During the COVID-19 pandemic, manufacturing companies, including discrete power semiconductor devices producers, were severely affected. Since factory workers remain in close contact, the lockdown and social distancing measures hampered the production of semiconductor components across the world during the pandemic. This led to the shortage of power semiconductor devices and disrupted the supply chain globally. In addition, most of the automotive plants in India were shut down for several weeks.
At the same time, the demand for new vehicles had fallen, as there was a shift in behavior and working culture of people. Most of the people were working from home, rather than going to the office, and focused on necessary items rather than luxurious products. Due to the weak demand for automobiles and consumer electronics, manufacturers of discrete power semiconductor devices registered a declined growth in the pandemic time.
In 2021, the EV category accounted for the major market share, and it is expected to maintain its lead during the forecast period (2022–2030) 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.
Report Attribute | Details |
Historical Years |
2017–2021 |
Forecast Years |
2022-2030 |
Market Size in 2021 |
$1,007.7 Million |
Revenue Forecast in 2030 |
$2,834.2 Million |
Growth Rate |
12.2% CAGR |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Company Profiling |
Segments Covered |
By Application; By Vehicle Type; By Material Type; By Package Type |
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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, 233,971 units of electric two-wheelers were sold in 2021, which was more than double the number of electric two-wheelers sold in 2020, i.e., 100,736 units.
The SiC material type held the dominating share of the market in 2021, 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.
Nowadays, semiconductor companies are launching newer variants of 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 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, are set to come up in 100 locations in the city, most of them on land owned by the Delhi Metro Rail Corporation (DMRC).
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. For instance:
Market Size Breakdown by Segment
The India discrete power semiconductor devices market report offers comprehensive market segmentation analysis along with market estimation for the period 2017–2030.
Semiconductor Devices Market Segmentation by Application
Power Module Market Segmentation by Application
In 2030, the value of the Indian discrete power semiconductor devices market will be $2,834.2 million.
The Indian discrete power semiconductor devices market is expected to witness a CAGR of 12.2% during 2021–2030.
EV is the largest category under the application segment of the Indian discrete power semiconductor devices industry.
The Indian discrete power semiconductor devices market drivers are the increasing deployment of EVs and the rising demand for power electronic modules across various industries, such as aerospace, medical, and defense.
Most Indian discrete power semiconductor devices market players are adopting product launches strategy to sustain their business growth.
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