Power Semiconductor Market Overview
The power semiconductor market is expected to grow at a CAGR of 4.8% over the forecast period (2021-2026). The power semiconductor market is growing due to the incorporation of advanced technologies in consumer electronics, such as smartwatches, smartphones, and IoT devices. The enhanced features of power electronics, such as lightweight, power efficiency, high speed, and enhanced portability are some of the drivers which will further augment the growth of the power semiconductor market, over the forecast period. Power semiconductors are trending due to increasing consumer interest in electric vehicles (EVs).
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Power Semiconductor Market – Geographical Overview
Asia Pacific region is expected to have a significant market share in the Power Semiconductor market
Asia-Pacific is expected to dominate the global power semiconductor market, as the region dominates the global semiconductor market, which is further supported by government policies. The region’s semiconductor industry is driven by China, Japan, Taiwan, and South Korea, which account for around 65% of the global discrete semiconductor market, while others like Vietnam, Thailand, Malaysia, and Singapore contribute significantly to the region’s dominance in the market. According to the Indian Electronics and Semiconductor Association, the country’s semiconductor component market is expected to be worth USD 32.35 billion by 2025, registering a CAGR of 10.1% (2018-2025).
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Key Highlights of the Power Semiconductor Market
- The power semiconductor market is a consolidated market dominated by a few significant players. Various acquisitions and collaborations of large companies are expected to take place shortly, which focuses on innovation.
- In September 2020, Mitsubishi Electric Corporation announced its coming launch of second-generation full-SiC (silicon carbide) power modules featuring a newly developed SiC chip for industrial use. The modules’ low power loss characteristics and high carrier frequency operation of the SiC-MOSFET (metal oxide semiconductor field-effect transistor) and SiC-SBD (Schottky barrier diode) chips are expected to facilitate the development of more efficient, smaller, and lighter weight power equipment in various industrial fields.
- The rising adoption of 5G technology and growing advancement in wireless communication will be a significant market for power semiconductors. The increasing adoption of GaN power transistors could be helpful for telecom vendors.
Recent Developments in the Power Semiconductor Market
- April 2021- Nexperia announced the availability of its second-generation 650 V GaN FETs which enable 80 PLUS Titanium-class power supplies operating at 2 kW and above. It offers significant performance and advantages over previous technologies and competitive devices.
- April 2021- ROHM developed four new 600V IGBT Intelligent Power Modules (IPMs), BM6437x series, that deliver low noise characteristics together with the low loss ideal for power conversion in inverters. The devices are used in compact industrial equipment, such as small capacity motors for robots and home appliances, including air conditioners and washing machines.
- March 2021- Nexperia announced a comprehensive partnership covering gallium nitride (GaN) power semiconductor devices with United Automotive Electronic Systems Co., Ltd. (UAES). This partnership will focus on power systems for EVs and the development of automotive applications using GaN technology.
Related reports and links
- RF Power Semiconductor Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
- Semiconductor Materials Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
List of Key Players in the Power Semiconductor Market
- Infineon Technologies AG
- Texas Instruments Inc.
- United Silicon Carbide Inc.
- ST Microelectronics N.V
- NXP semiconductor Inc.
- ON Semiconductor Corporation
- Renesas Electronic Corporation
- Broadcom Inc.
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Fuji Electric Co. Ltd
- Semikron International
- Cree Inc.
*List Not Exhaustive
Mordor Intelligence has segmented the global power semiconductor market on the basis of component, material, end-user industry, and geography:
- Component (Market Size & Forecast (2018-2026) in USD billion)
- Power Integrated Circuits
- Material (Market Size & Forecast (2018-2026) in USD billion)
- Silicon Carbide
- Gallium Nitride
- End-user Type (Market Size & Forecast (2018-2026) in USD billion)
- Consumer Electronics
- IT & Telecommunication
- Military & Aerospace
- Other End-user Industries
- Geography (Market Size & Forecast (2018-2026) in USD billion)
- North America
- Latin America
- Middle East & Africa
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