Global Power Semiconductor Market is valued approximately at USD 51.30 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 4.9% over the forecast period 2024-2032. Power semiconductors are critical components in power electronics, essential for controlling and converting electric power in various applications. Comprising devices such as diodes, transistors, and thyristors, these semiconductors are pivotal in ensuring efficient energy conversion and management. Made from materials like silicon and silicon carbide, power semiconductors are integral in handling high voltages and currents with minimal power loss. They find extensive use in sectors ranging from automotive to consumer electronics, driven by the need for efficient energy management and conversion. The increasing adoption of renewable energy sources like solar photovoltaic panels is significantly driving the market. As more industries and governments shift towards sustainable energy solutions, the demand for efficient power semiconductors is rising.
The market growth is further propelled by advancements in power electronics and the surge in demand across various industry verticals, including IT, telecommunication, and automotive. The transition towards electric vehicles (EVs) and hybrid electric vehicles (HEVs) is a major driver, as these vehicles rely heavily on power semiconductors for their battery management systems and powertrain components. According to the International Energy Agency (IEA), the global electric car stock reached 10 million in 2020, with a 43% increase from 2019. However, the complexity in the production network and high costs associated with the development of silicon carbide (SiC) semiconductor technology pose significant challenges to market growth. Despite these challenges, government initiatives focusing on high-voltage direct current (HVDC) systems and smart grids present lucrative opportunities for market expansion. The integration of power semiconductors in these advanced power distribution systems is expected to enhance grid reliability and efficiency, driving future growth.
The key regions considered for the global Power Semiconductor Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Power Semiconductor Market in terms of revenue. The market growth in the region is being attributed to factors including strong automotive industry, increasing demand for power semiconductors in various applications, and government support for technological advancements. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by large market size and growing popularity of power semiconductors in consumer electronics and IT and telecommunications.
Major market player included in this report are:
- ON Semiconductor Corporation
- Texas Instruments Incorporated
- Infineon Technologies AG
- STMicroelectronics
- Mitsubishi Electric Corporation
- Fuji Electric Co., Ltd.
- Toshiba Corporation
- ROHM Co., Ltd.
- Vishay Intertechnology, Inc.
- Renesas Electronics Corporation
- ABB Ltd.
- Microchip Technology Inc.
- NXP Semiconductors N.V.
- Analog Devices, Inc.
- Cree, Inc.
The detailed segments and sub-segment of the market are explained below:
By Product:
- Silicon Carbide (SiC)
- Gallium Nitride (GaN)
- Others
By Component:
- Discrete
- Module
- Power Integrated Circuits
By Application:
- IT and Telecommunication
- Consumer Electronics
- Automotive
- Aerospace and Defense
- Transportation
- Medical
- Energy and Power
- Others
By Region:
- North America
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Power Semiconductor Market Executive Summary
- 1.1. Global Power Semiconductor Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Product
- 1.3.2. By Component
- 1.3.3. By Application
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Power Semiconductor Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Power Semiconductor Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Increase in Use of Solar Photovoltaic Panels
- 3.1.2. Surge in Demand for Power Electronics Modules
- 3.2. Market Challenges
- 3.2.1. Intricacy in Production Network and Planning Cycle of SiC Semiconductor Innovation
- 3.3. Market Opportunities
- 3.3.1. HVDC and Smart Grid Initiatives by Government
Chapter 4. Global Power Semiconductor Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top Investment Opportunity
- 4.4. Top Winning Strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Power Semiconductor Market Size & Forecasts by Product (2022-2032)
- 5.1. Segment Dashboard
- 5.2. Global Power Semiconductor Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Silicon Carbide (SiC)
- 5.2.2. Gallium Nitride (GaN)
- 5.2.3. Others
Chapter 6. Global Power Semiconductor Market Size & Forecasts by Component (2022-2032)
- 6.1. Segment Dashboard
- 6.2. Global Power Semiconductor Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Discrete
- 6.2.2. Module
- 6.2.3. Power Integrated Circuits
Chapter 7. Global Power Semiconductor Market Size & Forecasts by Application (2022-2032)
- 7.1. Segment Dashboard
- 7.2. Global Power Semiconductor Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. IT and Telecommunication
- 7.2.2. Consumer Electronics
- 7.2.3. Automotive
- 7.2.4. Aerospace and Defense
- 7.2.5. Transportation
- 7.2.6. Medical
- 7.2.7. Energy and Power
- 7.2.8. Others
Chapter 8. Global Power Semiconductor Market Size & Forecasts by Region (2022-2032)
- 8.1. North America Power Semiconductor Market
- 8.1.1. U.S. Power Semiconductor Market
- 8.1.1.1. Product breakdown size & forecasts, 2022-2032
- 8.1.1.2. Component breakdown size & forecasts, 2022-2032
- 8.1.1.3. Application breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Power Semiconductor Market
- 8.2. Europe Power Semiconductor Market
- 8.2.1. UK Power Semiconductor Market
- 8.2.2. Germany Power Semiconductor Market
- 8.2.3. France Power Semiconductor Market
- 8.2.4. Spain Power Semiconductor Market
- 8.2.5. Italy Power Semiconductor Market
- 8.2.6. Rest of Europe Power Semiconductor Market
- 8.3. Asia-Pacific Power Semiconductor Market
- 8.3.1. China Power Semiconductor Market
- 8.3.2. India Power Semiconductor Market
- 8.3.3. Japan Power Semiconductor Market
- 8.3.4. Australia Power Semiconductor Market
- 8.3.5. South Korea Power Semiconductor Market
- 8.3.6. Rest of Asia Pacific Power Semiconductor Market
- 8.4. Latin America Power Semiconductor Market
- 8.4.1. Brazil Power Semiconductor Market
- 8.4.2. Mexico Power Semiconductor Market
- 8.4.3. Rest of Latin America Power Semiconductor Market
- 8.5. Middle East & Africa Power Semiconductor Market
- 8.5.1. Saudi Arabia Power Semiconductor Market
- 8.5.2. South Africa Power Semiconductor Market
- 8.5.3. Rest of Middle East & Africa Power Semiconductor Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. ON Semiconductor Corporation
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. Texas Instruments Incorporated
- 9.3.3. Infineon Technologies AG
- 9.3.4. STMicroelectronics
- 9.3.5. Mitsubishi Electric Corporation
- 9.3.6. Fuji Electric Co., Ltd.
- 9.3.7. Toshiba Corporation
- 9.3.8. ROHM Co., Ltd.
- 9.3.9. Vishay Intertechnology, Inc.
- 9.3.10. Renesas Electronics Corporation
- 9.3.11. ABB Ltd.
- 9.3.12. Microchip Technology Inc.
- 9.3.13. NXP Semiconductors N.V.
- 9.3.14. Analog Devices, Inc.
- 9.3.15. Cree, Inc.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes