Modular multi-level converter (MMC) with press-packing IGBT devices is the popular and key equipment of VSC-HVDC system, its reliability is directly related to the equipment safe operation. However, it is difficult to analyse the reliability using the failure statistical approach due to less fault data. In order to improve the reliability analyses accuracy, it is necessary to use the physical failure method by considering the main components fatigue failure mode. The reliability analysis models are presented for the MMC sub-module with the press-packing IGBT device and metallised film capacitors. First, based on the MMC-HVDC simulation model, the losses and the junction temperatures of the IGBT devices were derived by the temperature field ...