Bring water to a rolling boil in a large saucepan. Add pasta and carrot shreds and boil for 10 minutes. Drain using a strainer and rinse the pasta and carrots with cold water. Shake the strainer to remove excess water from the pasta.
In a medium-sized bowl, mix together the peas, the entire packet of ranch dressing mix, bacon bits, onion powder, and mayonnaise.
Add the cooked pasta and carrots. Stir until the pasta is coated with the mayonnaise mixture.