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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 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. 'Infineon Technologies AG', 'Texas Instruments Incorporated', 'STMicroelectronics N.V.', 'ON Semiconductor Corporation', 'Toshiba Corporation', 'Mitsubishi Electric Corporation', 'NXP Semiconductors N.V.', 'Renesas Electronics Corporation', 'Vishay Intertechnology, Inc.', 'Fairchild Semiconductor International, Inc.', 'Fuji Electric Co., Ltd.', 'Maxim Integrated Products, Inc.', 'ROHM Co., Ltd.', 'Microchip Technology Inc.', 'Analog Devices, Inc.', 'Semikron International GmbH', 'IXYS Corporation', 'Littelfuse, Inc.', 'Silicon Laboratories Inc.', 'Power Integrations, Inc.'

The power semiconductor market is viewing a considerable rush in demand determined by the increasing emphasis on energy efficiency in electronic devices. With a rising awareness of environmental sustainability and the need to decrease power consumption, there is a sensitive focus on developing and adopting energy-efficient devices across various industries. Power semiconductors play an essential role in ornamental efficiency of electronic systems by managing power consumption, reducing energy losses, and cultivating overall performance. This surge in demand is chiefly obvious in sectors, where energy-efficient devices are becoming a key priority. As manufacturers struggle to meet stringent energy efficiency standards and consumer preferences, the power semiconductor market is undergoing a distinguished expansion to meet the evolving needs of a more sustainable and mechanically advanced future.

The power semiconductor market has knowledgeable a significant surge, driven mainly by the exponential growth in demand for electric vehicles. As the automotive industry shifts working toward electrification, there's an extraordinary need for power semiconductors to enable the efficient conversion and management of electrical energy within EVs. These semiconductors play a pivotal role in allowing crucial functionalities contributing to the improved performance and range of electric vehicles. This increased demand for power semiconductors is not only reforming the automotive landscape but also urging innovation and investments in semiconductor technologies to meet the evolving requirements of the growing EV market.

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.

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Global Power Semiconductor Market

Product ID: SQMIG45O2036

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