USD 59.70 billion
Report ID:
SQMIG45O2036 |
Region:
Global |
Published Date: February, 2024
Pages:
197
|
Tables:
63 |
Figures:
75
Global Power Semiconductor Market size was valued at USD 59.70 billion in 2021 and is poised to grow from USD 63.46 billion in 2022 to USD 103.46 billion by 2030, growing at a CAGR of 6.30% in the forecast period (2023-2030).
The hasty growth of the power semiconductor industry is driven by the surge in vehicle electrification, carbon emission reduction goals, and the growing stress on clean energy production.
This tendency is anticipated to drive a considerable rise in demand in the coming years, encouraging technological advancements and investments in production capacity. Power devices, whether in the form of discrete devices, power modules, or integrated with IC functionalities, play an essential role in diverse applications.
Power transistors, counting MOSFETs and IGBTs, contribute meaningfully to the swift degeneracy of heat, anticipation of overheating, and the decrease of Co2 emissions and electricity costs.
Their vital role in numerous electronic products highlights their importance. The rising population and continued reliance on fossil fuels further amplify the demand for electronic devices that are not only efficient but also ecologically aware.
Furthermore, intricate systems containing surround and application processors, along with various components, require multiple power rails and domains.
The operation of discrete devices for power management in these systems can lead to substantial expenses. Power Management Integrated Circuits, which merge numerous voltage regulators and control circuits into a singular chip, demonstrate to be advantageous for executing inclusive power supply solutions. They efficiently reduce both component count and board space, contributing a cost-efficient approach to managing system power.
However, Silicon Carbide devices meet challenges associated with their driving requirements. While the primary objective of SiC-based devices is to substitute IGBT, it is crucial to note that the driving requirements decidedly differ between these two types of devices. Most transistors incorporate driving requirements using symmetric rails.
In disparity, SiC devices require asymmetric rails, ranging from -1V to -20V, due to the need for a small negative voltage to confirm complete defusing. This unique condition may posture challenges in applications involving portable equipment, as it demands additional DC-DC drivers or specialized batteries with three connections. These factors have the potential to bound market growth in this domain.
Global Market Size
USD 59.70 billion
Largest Segment
Power Integrated Circuits
Fastest Growth
Power Integrated Circuits
Growth Rate
6.30% CAGR
To get more reports on the above market click here to Buy The Report
The global power semiconductor market is segmented on the basis of component, material, end-user and region. By component, the market is segmented into discrete, module and power integrated circuits. By material, the market is segmented into silicon/germanium, silicon carbide (sic) and gallium nitride (gann). By end-user, the market is segmented into automotive, consumer electronics, it and telecommunication, military and aerospace and power. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Component
The power integrated circuits segment dominates the market share and is anticipated to exhibit a Compound Annual Growth Rate of 1.9% during the forecast period. Power integrated circuits (ICs) serve as rectifiers or switches in high-voltage applications, encompassing power supply systems, automobiles, solar panels, and trains. The on-state of these ICs facilitates the flow of electricity, while the off-state halts it, contributing to enhanced system efficiencies and reduced energy losses. Their compact physical size, compared to discrete circuits, makes power ICs favorable in various power supply applications, leading to increased demand and lower power consumption.
The discrete segment, the second largest, involves power semiconductors utilized in power management systems, comprising power switches and rectifiers (diodes). Power switches, including MOSFETs, IGBTs, and BJTs (bipolar junction transistors), are available in discrete forms, each housed in a single package. An essential trend in discrete semiconductors is efficient power management, particularly evident in smartphones, major consumers of discrete semiconductors. These semiconductors, present in adapters, play a crucial role in maintaining the required current and voltage levels. With companies developing smartphone chargers capable of significantly reducing charging durations, the current rating for these semiconductors has substantially increased. This trend is anticipated to drive the development of more robust discrete power semiconductors. Analysis By Material
The silicon/germanium segment holds the largest market share and is projected to grow at a CAGR of 1% during the forecast period, driven by numerous product innovations within the segment. An example of this innovation is evident in Nexperia's announcement in May 2020, introducing a range of new silicon-germanium (SiGe) rectifiers featuring reverse voltages of 120 V, 150 V, and 200 V. These rectifiers combine the high efficiency of Schottky counterparts with the thermal stability of fast recovery diodes. Tailored for automotive, communications infrastructure, and server markets, these 1-3 A SiGe rectifiers prove particularly advantageous in high-temperature applications such as LED lighting, engine control units, or fuel injection.
The silicon carbide (SiC) segment, the second largest, is characterized by semiconductors that set stringent standards for heat loss, switching speed, and size. SiC power electronics contribute to a 50% reduction in energy loss in the form of heat, resulting in more energy for the electric motor and enhanced efficiency in power electronics, thereby extending the battery range. SiC, with its wide-bandgap technologies, competes with and surpasses the performance of silicon-based devices like IGBTs and MOSFETs in various applications. These factors collectively contribute to the evident growth within the SiC segment.
To get detailed analysis on other segments, Request For Free Sample Report
The Asia-Pacific is the largest market share and is projected to experience a CAGR of 3.6% during the forecast period. This dominance is credited to the region's reputation in the semiconductor industry. The Indian Electronics and Semiconductor Association suggests that India, with its conducive environment for international R&D facilities, is poised to attract investments in the semiconductor industry, aligning with the government's Make in India initiative. The region also serves as a manufacturing powerhouse for electronics, producing millions of electrical products annually for local consumption and export. The augmented production of electronic goods and components influences the market share of the industry under examination.
North America is the second-largest region, expected to reach a value of USD 8.5 billion by 2030, with a projected CAGR of 2.6%. North America is an initial adopter of new technology in semiconductor manufacturing, design, and research. The growth of the market in this region is closely tied to advancements in end-user industrie. According to the Semiconductor Industry Association, sales in the semiconductor industry in January 2021 reached USD 40.0 billion, marking a 13.2% increase compared to January 2020. The SIA, representing 98% of the US semiconductor industry by revenue and nearly two-thirds of non-US chip firms, indicates that a semiconductor supply shortage in the region, coupled with US policy adjustments, is expected to stimulate domestic manufacturing and equipment investments.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Drivers
Increasing Demand for Energy-Efficient Devices
Rising Adoption of Electric Vehicles (EVs)
Restraints
Complex Design and Integration Challenges
Request Free Customization of this report to help us to meet your business objectives.
The market exhibitions a moderate level of merging, with a handful of major players imposing a significant share of the revenue. These key industry participants are advantageously intent on the introduction of innovative products to support their market positioning. Additionally, their focus extends to performing strategic initiatives, including partnerships, product launches, and collaborations, enhancing their overall market presence.
Top Player’s Company Profiles
Recent Developments
Increased Demand for Electric Vehicles (EVs)
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Co-relates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the power semiconductor market is a rapidly evolving sector, driven by the growing demand for energy-efficient electronic devices and the extensive adoption of electric vehicles and renewable energy sources. These semiconductors play a pivotal role in power management, conversion, and control across various industries. As technological advancements continue to push the boundaries of power electronics, innovations such as wide-bandgap semiconductors are gaining prominence for their improved efficiency and performance characteristics. The market is characterized by intense competition, with key players investing in research and development to familiarize cutting-edge solutions. Moreover, the growing focus on smart grids, IoT-enabled devices, and the electrification of transportation is expected to further drive the power semiconductor market's growth in the coming years.
Report Metric | Details |
---|---|
Market size value in 2021 | USD 59.70 billion |
Market size value in 2030 | USD 103.46 billion |
Growth Rate | 6.30% |
Base year | 2023 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Power Semiconductor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Power Semiconductor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Power Semiconductor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Power Semiconductor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQMIG45O2036