Power Semiconductor Market:
Growth opportunities in the power semiconductor market look promising over the next six years. This is mainly due to their rising implementation in efficient power management and rapid adoption of power semiconductors in the telecommunication and electronics industry sectors.
Power Semiconductor Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The surging acquisition of consumer electronics, increasing vehicle electrification, growing demand for power-saving devices, along the swift adoption of power semiconductors in electronic, automotive, telecommunication, rail, and pharmaceutical sectors are some of the prominent drivers contributing to the growth of the power semiconductor market. Also, the fuelling energy sector and augmenting demand for sources of energy which include tidal, photovoltaic, and solar, power transfer to the grid, growing use of these semiconductors for effective power management, the transformation of energy into a wind turbine, and hydropower are other factors strengthening the market size.
In accordance with the World Semiconductor Trade Statistics (WSTS), yearly sales of semiconductors in 2020 are anticipated to fuel by 5.1, accompanied by a growth of 8.4 percent in 2021, which is likely to promote market growth. However, the high cost associated with production, complicated design, and integration process will obstruct the market growth. Moreover, the widespread outbreak of coronavirus pandemic resulted in the disturbance of supply chain and production activities involved with manufacturing these semiconductor components, fabrication plants, and chips curbing the power semiconductor market size.
Component Segment Drivers
Based on the component, power integrated circuits are projected to expand with a higher CAGR over the forecast period. This is primarily because of less power consumption, small size availability, fast operating speed, the larger capability of operating at intense temperature, elimination of soldered joints, and low production cost on semiconductor wafers.
Regional Drivers
Based on regional coverage, Asia Pacific is expected to witness a faster CAGR during the forecast period. This is owing to the boost in the automotive and consumer electronics sectors and growing preference towards the development of renewable energy power plants. As per the Semiconductor Industry Association (SIA), China is one of the leading markets for semiconductors throughout the world and the annual sales fuelled by 5.3% in 2020. This will supplement the power semiconductor market share.
Power Semiconductor Market’s leading Manufacturers:
- Cree Inc.
- Broadcom Inc.
- ON Semiconductor Corporation
- Robert Bosch GmbH
- Infineon Technologies AG
- Toshiba Corporation
- Renesas Electronics Corporation
- Texas Instruments Incorporated
- NXP Semiconductors N.V.
- STMicroelectronics N.V.
Power Semiconductor Market Segmentation:
Segmentation by Component
- Discrete
- Module
- Power Integrated Circuits
Segmentation by Type
- Silicon/Germanium
- Silicon Carbide
- Gallium Nitride
Segmentation by End-Use Industry
- Automotive
- Consumer Electronics
- IT & Telecommunication
- Military & Aerospace
- Energy & Power
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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