Global Power Semiconductor Market: Driving Technological Advancements in Electronics and Energy Efficiency; says TNR
Global Power Semiconductor Market to Witness CAGR of 3.67% (2023 – 2031), Expected to Reach US$ 51.52 Billion by 2031
WILMINGTON, DELAWARE, UNITED STATES, December 1, 2023 /EINPresswire.com/ -- Global Power Semiconductor Market Synopsis
Power semiconductors are vital electronic components that regulate and manage the distribution of electrical energy within devices and systems. These components, like transistors and diodes, facilitate effective energy conversion, enabling optimized performance in applications such as motors, voltage regulators, and power converters.
Pre-COVID-19, the power semiconductor market was on an upward trajectory, buoyed by energy-efficient technologies and automotive advancements. With COVID-19, supply chain disruptions and reduced economic activity impacted growth. Post-pandemic, a renewed focus on digitalization, electric vehicles, and renewable energy solutions revitalized the market, emphasizing power semiconductors' role in shaping a sustainable future.
Global Power Semiconductor Market Analysis & Insights:
The power semiconductor market is constantly evolving, with new technologies being developed all the time. Some of the recent developments in the power semiconductor market include the rise of silicon carbide (SiC) and gallium nitride (GaN) power devices, the development of new packaging technologies, the increasing use of smart power modules, the growth of the automotive market, and the adoption of renewable energy technologies.
The North America region exhibits highest growth rate in the power semiconductor market. The region's emphasis on electric vehicles, renewable energy, and 5G infrastructure drives demand for advanced power semiconductors. The region's commitment to clean energy technologies contributes to the adoption of power semiconductors for efficient energy conversion and management.
Electric Vehicles (EVs) and Renewable Energy Integration
The surge in electric vehicle adoption and renewable energy integration fuels the Power Semiconductor Market. A report by McKinsey projects EVs to represent 10-35% of new vehicle sales by 2030. Power semiconductors are vital for EV powertrains and charging infrastructure, optimizing energy conversion and management. Additionally, as the transition to renewable energy sources accelerates, power semiconductors enable efficient energy conversion, grid stability, and energy storage systems.
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5G and IoT Expansion:
The rollout of 5G networks and the expansion of the Internet of Things (IoT) are significant drivers. Ericsson's Mobility Report forecasts 5G to cover 60% of the world's population by 2026. Power semiconductors support the increased data processing demands of 5G infrastructure, base stations, and IoT devices. The growth of interconnected devices across industries amplifies the need for efficient power management solutions, propelling demand for power semiconductors.
Industry 4.0 and Industrial Automation:
The adoption of Industry 4.0 principles and industrial automation drives power semiconductor demand. A Deloitte survey indicates that 86% of companies consider digital transformation as a top strategic priority. Power semiconductors are integral to smart manufacturing, robotics, and advanced control systems. Their role in improving process efficiency, predictive maintenance, and real-time monitoring positions them as enablers of productivity gains in various industries.
Global Power Semiconductor Market: Competitive Landscape and Key Developments
o Broadcom
o Danfoss
o Fuji Electric Co., Ltd.
o Infineon Technologies AG
o Mitsubishi Electric Corporation
o NXP Semiconductors
o Qorvo, Inc
o Renesas Electronics Corporation
o ROHM Co., Ltd.
o Semiconductor Components Industries, LLC
o STMicroelectronics
o Texas Instruments Incorporated
o Toshiba Corporation
o Wolfspeed, Inc.
o Other Industry Participants
In May 2023, Infineon Technologies AG introduced the OptiMOS7 40V MOSFET family, representing its most recent iteration of power MOSFETs engineered for automotive applications across a range of durable and lead-free power packaging options. This fresh line merges 300 mm thin-wafer technology with inventive packaging techniques to yield notable enhancements in performance within compact formats. As a result, these MOSFETs are exceptionally well-suited for current and upcoming automotive 40V MOSFET requisites, encompassing functions like electric power steering, braking systems, disconnect switches, and emerging zone architectures.
In May 2023, Toshiba Electronics Europe unveiled a fresh 150V N-channel power MOSFET derived from their most recent U-MOS X-H Trench process iteration. The TPH9R00CQ5 model is meticulously crafted to cater to demanding requirements of high-performance switching power supplies, particularly in sectors like communication base stations and various industrial applications.
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Global Power Semiconductor Market:
By Component
o Discrete
• Rectifier
• Bipolar
• MOSFET
• IGBT
• Other Discrete Components (SiC and GaN)
o Modules
• Thyristor
• Others
o Power IC
• Multichannel Pmics
• DC/DC Switching Regulators
• Linear Regulators
• BMICs
• Other Components
By Material
o Silicon
o Silicon Carbide (SiC)
o Gallium Nitride (GaN)
By End-user Industry
o Automotive
o Consumer Electronics
o IT and Telecommunication
o Military and Aerospace
o Power
o Industrial
o Other End-user Industries
By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)
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