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Power Semiconductor Market Size, Industry Analysis Report By Component (Discrete, Module, Power Integrated Circuits), By Material (Silicon/Germanium, Silicon Carbide (SiC), Gallium Nitride (GaN), By End Use (Automotive, Consumer Electronics, Industrial, Power and Energy, IT and Telecommunication, Military and Aerospace) & Region - Forecasts By 2033

  • PUBLISHED ON
  • 2024-10-08
  • NO OF PAGES
  • 244
  • CATEGORY
  • Electronics & Communication

Market Overview

The global power semiconductor market was worth USD 36,050 million in 2022 and is poised to amplify with a CAGR of 2.37% over 2023-2033, thereby amassing a valuation of USD 43,300 million by end of the assessment timeline.

Report Scope

Report Attributes

Description

Market Forecast in 2022

USD 36,050 Million

Market Forecast in 2033

USD 43,300 Million

CAGR % 2023-2033

2.37%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Product type, end-user industry, company share, company heatmap, company Material Technology type capacity, growth factors and more

Segments Covered

component, material, end use

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Key Companies

Infineon technologies AG, Texas instruments Inc., United Silicon Carbide Inc., ST Microelectronics NV, NXP semiconductor Inc., ON Semiconductor Corporation, Renesas Electronic Corporation, Broadcom Inc., Toshiba Corporation, Mitsubishi Electric Corporation, Fuji Electric Co. Ltd., Semikron International, Cree Inc., ROHM Co Ltd., Vishay Intertechnology Inc.Nexperia BV, Alpha & Omega Semiconductor, Magnachip Semiconductor Corp, Microchip Technology Inc., and Littlefuse Inc.

Power Semiconductor Market: Description

Power semiconductor is referred to as a type of device that is utilized as a rectifier or switch in electronic circuits. These devices are predominantly used to convert and control electrical power in electric equipment by using the electronic properties of semiconductors such as silicon, germanium, gallium, and arsenide. Power semiconductor devices are equipped with the ability to handle large currents and high voltages.

The escalating demand for continuous power supply across the major economies coupled with widespread industrialization worldwide are the major factors augmenting the outlook of this marketplace. Furthermore, rising disposable income of the masses which in turn is improving their living standards is increasing the adoption of power semiconductor devices across the globe. Besides, the growing adoption of smart devices such as mobile phones and laptops along with widespread technological advancements in the field are creating lucrative opportunities for the industry sphere to prosper.

Also, surging R&D activities in the field, rapid adoption of electric vehicles, and the booming consumer electronics sector are positively swaying the dynamics of this business vertical. Moreover, the surging focus of industry players to develop and launch innovative and efficient products in the field are adding momentum to the market progression. On the contrary, fluctuating prices of raw materials and the availability of counterfeit products in the field are hindering the remuneration scope of this business vertical.

There has been an escalating demand for sustainable energy sources across the globe. This is powered by the growing instances of fossil fuel depletion and increasing emission levels. Moreover, various governments have also taken favorable initiatives to promote the adoption of non-conventional energy resources such as solar and wind powers. The power semiconductor is one of the key components in electric equipment, which in turn is augmenting the outlook of this industry vertical.

The major regions across the globe are undergoing a wave of industrialization powered by widespread economic developments. It is evident that most of the industries need continuous power supply to facilitate their overall operational process. These factors in turn are adding traction to the development of this business sphere.

Power Semiconductor Market- Segmental Analysis:

Component Insights

The Discrete segment is anticipated to grow considerably over the forecast period ascribing to their affordable nature.

Material Insights

The silicon carbide segment is expected to generate significant returns by 2030 owing to their energy efficient nature

End Use Insights

The automotive segment is poised to amass notable gains over estimated timeframe due to the rising adoption of electric vehicles across the globe.

Regional Insights

The primary regions constituting the geographical ambit of this business vertical are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, Asia Pacific is projected to expand with a substantial CAGR over the forecast period. This is attributable to the widespread industrialization, favorable government policies to encourage the use of sustainable power sources along with the growing adoption of electric vehicles.

Competitive Analysis

The prominent players characterizing the competitive terrain of this marketplace are Infineon technologies AG, Texas instruments Inc., United Silicon Carbide Inc., ST Microelectronics NV, NXP semiconductor Inc., ON Semiconductor Corporation, Renesas Electronic Corporation, Broadcom Inc., Toshiba Corporation, Mitsubishi Electric Corporation, Fuji Electric Co. Ltd., Semikron International, Cree Inc., ROHM Co Ltd., Vishay Intertechnology Inc.Nexperia BV, Alpha & Omega Semiconductor, Magnachip Semiconductor Corp, Microchip Technology Inc., and Littlefuse Inc.

·         Notably, in February 2022, Mitsubishi Electric Corporation launched its power semiconductor module range named SLIMDIP-X. This range is equipped with the ability to offer low thermal resistance and noise reduction for home inverter systems.

Power Semiconductor Market- Segmental Analysis

By Component

·         Discrete

·         Module

·         Power Integrated Circuits 

By Material

·         Silicon/Germanium

·         Silicon Carbide (SiC)

·         Gallium Nitride (GaN)

By End Use

·         Automotive

·         Consumer Electronics

·         Industrial

·         Power and Energy

·         IT and Telecommunication

·         Military and Aerospace

·         Others

 

 

1.       Global Power Semiconductor Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Power Semiconductor Market Scope and Market Estimation

1.2.1.Global Power Semiconductor Overall Market Size, Revenue (US$ Mn) and Volume (Units), Market CAGR (%), Market forecast (2023 - 2033)

1.2.2.Global Power Semiconductor Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033

1.3.    Market Segmentation

1.3.1.component of Global Power Semiconductor Market

1.3.2.material of Global Power Semiconductor Market

1.3.3.End Use of Global Power Semiconductor Market

1.3.4.Region of Global Power Semiconductor Market

2.       Executive Summary

3.       Market Factor Analysis

3.1.   Global Power Semiconductor Market Application Trends under COVID-19 Outbreak

3.1.1.Global COVID-19 Status Overview

3.1.2.Influence of COVID-19 Outbreak on Global Power Semiconductor Market Application Development

3.2.   Market Dynamics

3.2.1.Drivers

3.2.2.Limitations

3.2.3.Opportunities

3.2.4.Impact Analysis of Drivers and Restraints

3.3.   Value Chain/ Ecosystem Analysis

3.3.1.Manufacturers / Vendors

3.3.2.Distributors

3.3.3.Buyers / End-users

3.3.4.Forward Integration & Backward Integration of Key Stakeholders

3.4.   Global Power Semiconductor Market - Pricing Trends Analysis & Average Selling Prices (ASPs)

3.5.   Porter’s Five Forces Analysis

3.5.1.Bargaining Power of Suppliers

3.5.2.Bargaining Power of Buyers

3.5.3.Threat of Substitutes

3.5.4.Threat of New Entrants

3.5.5.Competitive Rivalry

3.6.   PEST Analysis

3.6.1.Political Factors

3.6.2.Economic Factors

3.6.3.Social Factors

3.6.4.Technological Factors

3.7.   Impact of Russia Ukraine War on Power Semiconductor Market

3.8.   Impact of Economic Downturn on Power Semiconductor Market

3.9.   Power Semiconductor Production Capacity, by Major Countries

3.10.  Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Regions

4.       Global Power Semiconductor Market Estimates & Forecast Trend Analysis, by Component

4.1.    Global Power Semiconductor Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Component, 2019 to 2033

4.1.1.Discrete

4.1.2.Module

4.1.3.Power Integrated Circuits 

5.       Global Power Semiconductor Market Estimates & Forecast Trend Analysis, by Material

5.1.    Global Power Semiconductor Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Material, 2019 to 2033

5.1.1.    Silicon/Germanium

5.1.2. Silicon Carbide (SiC)

5.1.3.Gallium Nitride (GaN)

6.       Global Power Semiconductor Market Estimates & Forecast Trend Analysis, by Product Type

6.1.    Global Power Semiconductor Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Product Type, 2019 to 2033

6.1.1.Memory

6.1.2.Processor

6.1.3.Analog

6.1.4.Others

7.       Global Power Semiconductor Market Estimates & Forecast Trend Analysis, by End User

7.1.    Global Power Semiconductor Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by End User, 2019 to 2033

7.1.1.Automotive

7.1.2.Consumer Electronics

7.1.3.Industrial

7.1.4.Power and Energy

7.1.5.IT and Telecommunication

7.1.6.Military and Aerospace

7.1.7.        Others

8.       Global Power Semiconductor Market Estimates & Forecast Trend Analysis, by Region

8.1.    Global Power Semiconductor Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Region, 2019 to 2033

8.1.1.North America

8.1.2.Europe

8.1.3.Asia Pacific

8.1.4.Middle East & Africa

8.1.5.South America

9.       North America Power Semiconductor Market: Estimates & Forecast Trend Analysis

9.1.    North America Power Semiconductor Market Assessments & Key Findings

9.1.1.Power Semiconductor Market Introduction

9.1.2.Power Semiconductor Market Size Estimates and Forecast (US$ Million & Units) (2019 – 2033)

9.1.2.1.   By Wafer Size

9.1.2.2.   By Component

9.1.2.3.   By Material

9.1.2.4.   By End User

9.1.2.5.   By Country

9.1.2.5.1.     The U.S.

9.1.2.5.2.     Canada

9.1.2.5.3.     Mexico

10.   Europe Power Semiconductor Market: Estimates & Forecast Trend Analysis

10.1.  Europe Power Semiconductor Market Assessments & Key Findings

10.1.1.   Power Semiconductor Market Introduction

10.1.2.   Power Semiconductor Market Size Estimates and Forecast (US$ Million & Units) (2019 – 2033)

10.1.2.1.    By Component

10.1.2.2.    By Material

10.1.2.3.    By End User

10.1.2.4.    By Country

10.1.2.4.1. Italy

10.1.2.4.2. Germany

10.1.2.4.3. U.K.

10.1.2.4.4. France

10.1.2.4.5. Spain

10.1.2.4.6. Rest of Europe

11.   Asia Pacific Power Semiconductor Market: Estimates & Forecast Trend Analysis

11.1.  Asia Pacific Market Assessments & Key Findings

11.1.1.    Power Semiconductor Market Introduction

11.1.2.    Power Semiconductor Market Size and Volume Estimates and Forecast (US$ Million & Units) (2019 – 2033)

11.1.2.1.    By Component

11.1.2.2.    By Material

11.1.2.3.    By End User

11.1.2.4.    By Country

11.1.2.4.1. China

11.1.2.4.2. Japan

11.1.2.4.3. India

11.1.2.4.4. Australia

11.1.2.4.5. South Korea

11.1.2.4.6. ASEAN

11.1.2.4.7. Rest of Asia Pacific

12.   Middle East & Africa Power Semiconductor Market: Estimates & Forecast Trend Analysis

12.1.  Middle East & Africa Market Assessments & Key Findings

12.1.1.   Power Semiconductor Market Introduction

12.1.2.   Power Semiconductor Market Size and Volume Estimates and Forecast (US$ Million & Units) (2019 – 2033)

12.1.2.1.    By Wafer Size

12.1.2.2.    By Component

12.1.2.3.    By Material

12.1.2.4.    By End User

12.1.2.5.    By Country

12.1.2.5.1. U.A.E.

12.1.2.5.2. Saudi Arabia

12.1.2.5.3. Egypt

12.1.2.5.4. South Africa

12.1.2.5.5. Rest of Middle East & Africa

13.   South America Power Semiconductor Market: Estimates & Forecast Trend Analysis

13.1.  South America Market Assessments & Key Findings

13.1.1.   Power Semiconductor Market Introduction

13.1.2.   Power Semiconductor Market Size and Volume Estimates and Forecast (US$ Million & Units) (2019 – 2033)

13.1.2.1.    By Component

13.1.2.2.    By Material

13.1.2.3.    By End User

13.1.2.4.    By Country

13.1.2.4.1. Brazil

13.1.2.4.2. Argentina

13.1.2.4.3. Colombia

13.1.2.4.4. Rest of South America

14.   Competition Landscape

14.1.  Power Semiconductor Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

14.2.  Power Semiconductor Market Competition White Space Analysis, By End-user

14.3.  Power Semiconductor Market Competition Regional Intensity Map Analysis, By Geographies Served

14.4.  Power Semiconductor Market Concentration & Company Market Shares (%) Analysis, 2022

15.   Company Profiles

15.1.Infineon technologies AG,

15.1.1.    Company Overview & Key Stats

15.1.2.    Financial Performance & KPIs

15.1.3.    Product Portfolio

15.1.4.    Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

15.2.Applied Materials Inc

15.3.ASM International

15.4.Nikon Corporation

15.5.Hitachi High-Technologies Corporation,

15.6.Tokyo Electron Limited

15.7.ASML Holding N.V.

15.8.Lam Research Corporation

15.9.Others**

16.   Research Methodology

16.1.      External Power Outputs / Databases

16.2.      Internal Proprietary Database

16.3.      Primary Research

16.4.      Secondary Research

16.5.      Assumptions

16.6.      Limitations

16.7.      Report FAQs

17.   Research Findings & Conclusion

 

 

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size and growth projections?

The global power semiconductor market was worth USD 36,050 million in 2022 and is poised to amplify with a CAGR of 2.37% over 2023-2033, thereby amassing a valuation of USD 43,300 million by end of the assessment timeline.

What are the drivers shaping various markets?

Trends in Electrification Power semiconductor demand has been significantly influenced by the increasing focus on electrification across a range of industries, including automotive (electric vehicles), renewable energy (solar and wind power), and industrial automation. Power management and conversion systems that are effective for these applications must significantly rely on power semiconductors.

Who are the key competitors of market Players?

Some of the major players operating within the market are Infineon technologies AG, Texas instruments Inc., United Silicon Carbide Inc., ST Microelectronics NV, NXP semiconductor Inc., ON Semiconductor Corporation, Renesas Electronic Corporation, Broadcom Inc., Toshiba Corporation, Mitsubishi Electric Corporation, Fuji Electric Co. Ltd., Semikron International, Cree Inc., ROHM Co Ltd., Vishay Intertechnology Inc.Nexperia BV, Alpha & Omega Semiconductor, Magnachip Semiconductor Corp, Microchip Technology Inc., and Littlefuse Inc.

What are the top performing segments, and countries / regions of each of the markets?

The primary regions constituting the geographical ambit of this business vertical are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, Asia Pacific is projected to expand with a substantial CAGR over the forecast period. This is attributable to the widespread industrialization, favorable government policies to encourage the use of sustainable power sources along with the growing adoption of electric vehicles.

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