Power Semiconductor Global Market to 2028: Players Include Infineon Technology, ON Semiconductor, STMicroelectronics, Mitsubishi Electric and Toshiba
PR Newswire
DUBLIN, March 24, 2023
DUBLIN, March 24, 2023 /PRNewswire/ -- The "Global Power Semiconductor Market: Analysis By Type (Power IC, MOSFET, IGBT, Diode, Thyristor, and BJT), By Application (Automotive, Consumer Electronics, Industrial, Telecommunication, and Other), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
The global power semiconductor market was valued at US$46.72 billion in 2022. The market value is expected to reach US$62.26 billion by 2028.
Power semiconductors are used to rectify and amplify electrical signals or turn the flow of electricity on and off. Unlike regular semiconductors, however, these devices are designed to handle high electrical currents and high voltages of up to several gigawatts, which is their main difference from other semiconductor devices.
Based on operating features, power devices are used in power transmission and distribution, automotive and transport, renewable energy, consumer electronics, and other industrial applications. They play a key role in the sustainable and efficient use of energy, and can be used to transport energy over long distances with minimal losses.
Moreover, the demand for power management devices such as voltage regulators, power switches, and power drivers is increasing due to the growing complexity of electronic systems, which is further contributing to the power semiconductor market growth. The market is expected to grow at a CAGR of approx. 5% during the forecasted period of 2023-2028.
Market Dynamics:
- Growth Drivers: The global power semiconductor market growth is predicted to be supported by numerous growth drivers such as increasing demand for electric vehicles (EVs), rising adoption of industrial automation, rising demand for consumer electronics, increasing demand for renewable energy, increasing disposable income, rising smart grid market, increasing role of power semiconductor in rail transportation, and many other factors. In EVs, due to the transition of the power system from an internal combustion engine to an electric drive system, the power system of the traditional mechanical structure is replaced by an electric motor and electronic control system. The electronic control system requires large amounts of power devices such as IGBT, a DC/AC converter, and an isolator. This has greatly increased the value of power semiconductors in EVs.
- Challenges: However, the market growth would be negatively impacted by various challenges such as high development cost, supply chain disruptions, power failure, etc.
- Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as like increasing auto electrification, the advent of 5G networks, rising inverterization rate of home appliance, rising demand for wide bandgap (WBG) semiconductors, increasing demand for miniaturized power semiconductors, etc. With the deployment of 5G networks, there would be a significant increase in the amount of data that needs to be processed and stored. This would lead to a surge in demand for data centers, which would require high-power and high-efficiency power semiconductors for their power conversion and distribution systems.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic has had a significant impact on the power semiconductor industry's growth. The pandemic has caused disruptions in global supply chains, making it more difficult to source raw materials and manufacturing equipment.
However, as lockdown restrictions were normalized in the second half of 2020, the demand for power semiconductors like IGBT and MOSFET returned to the pre-pandemic level.
The pandemic has highlighted the importance of energy efficiency, and there may be an increased demand for power semiconductor products that can help reduce energy consumption and costs.
On the hand, the pandemic has accelerated the adoption of digital technologies, and there may be an increased demand for power semiconductor products that can support these technologies, such as wide bandgap semiconductors (e.g. SiC and GaN).
Competitive Landscape:
The global power semiconductor market is concentrated. The key players in the global power semiconductor market are:
- Infineon Technology
- ON Semiconductor Corporation
- STMicroelectronics N.V.
- Mitsubishi Electric Corporation
- Toshiba Corporation
- Fuji Electric Co., Ltd.
- Vishay Intertechnology, Inc.
- Renesas Electronics Corporation
- ROHM Semiconductor
- Texas Instruments Incorporated
- Nexperia
- StarPower Semiconductor
The power semiconductor industry is relatively centralized, with the top 10 companies taking up nearly 65% market share. Most power semiconductor industry players, including companies such as Infineon, Fuji Electric, and Mitsubishi, have adopted the IDM production model, handling design, manufacturing, assembly, and testing in-house.
An IDM model allows for vertical integration, facilitating supply management. Thus, companies are moving to an IDM model to improve production efficiency and technological know-how. This would further help the companies to grow in the coming years.
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
3.1 Global Power Semiconductor Market: An Analysis
3.1.1 Global Power Semiconductor Market: An Overview
3.1.2 Global Power Semiconductor Market by Value
3.1.3 Global Power Semiconductor Market by Type (Power IC, MOSFET, IGBT, Diode, Thyristor, and BJT)
3.1.4 Global Power Semiconductor Market by Application (Automotive, Consumer Electronics, Industrial, Telecommunication, and Others)
3.1.5 Global Power Semiconductor Market by Region (Asia Pacific, Europe, North America, and the Rest of the World)
3.2 Global Power Semiconductor Market: Type Analysis
3.2.1 Global Power Semiconductor Market by Type: An Overview
3.2.2 Global Power IC Semiconductor Market by Value
3.2.3 Global MOSFET Power Semiconductor Market by Value
3.2.4 Global IGBT Power Semiconductor Market by Value
3.2.5 Global IGBT Power Semiconductor Market by Application (Industrial Control, New Energy Vehicles, New Energy Power Generation, Home Appliance, Railways, Power Systems, and Others)
3.2.6 Global IGBT Power Semiconductor Market by Component (Discrete IGBT, IGBT Module, and IPM)
3.2.7 Global Diode Power Semiconductor Market by Value
3.2.8 Global Thyristor Power Semiconductor Market by Value
3.2.9 Global BJT Power Semiconductor Market by Value
3.3 Global Power Semiconductor Market: Application Analysis
3.3.1 Global Power Semiconductor Market by Application: An Overview
3.3.2 Global Automotive Power Semiconductor Market by Value
3.3.3 Global Consumer Electronics Power Semiconductor Market by Value
3.3.4 Global Industrial Power Semiconductor Market by Value
3.3.5 Global Telecommunication Power Semiconductor Market by Value
3.3.6 Global Others Power Semiconductor Market by Value
4. Regional Market Analysis
4.1 Asia Pacific Power Semiconductor Market: An Analysis
4.1.1 Asia Pacific Power Semiconductor Market: An Overview
4.1.2 Asia Pacific Power Semiconductor Market by Value
4.1.3 Asia Pacific Power Semiconductor Market by Region (China, Japan, and the Rest of the Asia Pacific)
4.1.4 China Power Semiconductor Market by Value
4.1.5 Japan Power Semiconductor Market by Value
4.1.6 Rest of Asia Pacific Power Semiconductor Market by Value
4.2 Europe Power Semiconductor Market: An Analysis
4.2.1 Europe Power Semiconductor Market: An Overview
4.2.2 Europe Power Semiconductor Market by Value
4.2.3 Europe Power Semiconductor Market by Region (Germany, Italy, UK, France, and Rest of the Europe)
4.2.4 Germany Power Semiconductor Market by Value
4.2.5 Italy Power Semiconductor Market by Value
4.2.6 The UK Power Semiconductor Market by Value
4.2.7 France Power Semiconductor Market by Value
4.2.8 Rest of Europe Power Semiconductor Market by Value
4.3 North America Power Semiconductor Market: An Analysis
4.3.1 North America Power Semiconductor Market: An Overview
4.3.2 North America Power Semiconductor Market by Value
4.3.3 North America Power Semiconductor Market by Region (The US, Canada, and Mexico)
4.3.4 The US Power Semiconductor Market by Value
4.3.5 Canada Power Semiconductor Market by Value
4.3.6 Mexico Power Semiconductor Market by Value
4.4 Rest of World Power Semiconductor Market: An Analysis
4.4.1 Rest of World Power Semiconductor Market: An Overview
4.4.2 Rest of World Power Semiconductor Market by Value
5. Impact of COVID-19
5.1 Impact of COVID-19 on Global Power Semiconductor Market
5.2 Post COVID-19 Impact on Global Power Semiconductor Market
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Increasing Demand for Electric Vehicles (EVs)
6.1.2 Escalating Adoption of Industrial Automation
6.1.3 Growing Demand for Consumer Electronics
6.1.4 Increasing Demand for Renewable Energy
6.1.5 Increasing Disposable Income
6.1.6 Surging Smart Grid Market
6.1.7 Increasing Role of Power Semiconductor in Rail Transportation
6.2 Challenges
6.2.1 High Development Cost
6.2.2 Supply Chain Disruptions
6.2.3 Power Failure
6.3 Market Trends
6.3.1 Growing Automotive Electronics Market
6.3.2 The Advent of 5G Networks
6.3.3 Rising Inverterization Rate of Home Appliance
6.3.4 Increasing Demand for Wide Bandgap (WBG) Semiconductors
6.3.5 Growing Demand for Miniaturized Power Semiconductors
7. Competitive Landscape
7.1 Global Power Semiconductor Players by Market Share
7.2 China IGBT Players by Market Share
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/7bsd32
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