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Global Power Semiconductor Market: Analysis By Type (Power IC, MOSFET, IGBT, Diode, Thyristor, and BJT), By Application (Automotive, Consumer Electronics, Industrial, Telecommunication, and Other), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028

Publisher Name :
Date: 23-Mar-2023
No. of pages: 150

The global power semiconductor market was valued at US$46.72 billion in 2022. The market value is expected to reach US$62.26 billion by 2028. Power semiconductors are used to rectify and amplify electrical signals or turn the flow of electricity on and off. Unlike regular semiconductors, however, these devices are designed to handle high electrical currents and high voltages of up to several gigawatts, which is their main difference from other semiconductor devices.

Based on operating features, power devices are used in power transmission and distribution, automotive and transport, renewable energy, consumer electronics, and other industrial applications. They play a key role in the sustainable and efficient use of energy, and can be used to transport energy over long distances with minimal losses. Moreover, the demand for power management devices such as voltage regulators, power switches, and power drivers is increasing due to the growing complexity of electronic systems, which is further contributing to the power semiconductor market growth. The market is expected to grow at a CAGR of approx. 5% during the forecasted period of 2023-2028.

Market Segmentation Analysis:

By Type: The report provides the bifurcation of the market into six types: Power IC, MOSFET, IGBT, Diode, Thyristor, and BJT. Power integrated circuits (ICs) held the highest share of the market, whereas MOSFET is expected to be the fastest-growing segment in the forthcoming years. The use of renewable energy sources such as solar and wind power is increasing, and it requires power ICs to convert and control the energy generated by these sources. Hence, with the increasing use of renewable energy, the demand for power ICs is increasing.

By Application: The report further provides the analysis based on applications: Automotive, Consumer Electronics, Industrial, Telecommunication, and Others. Automotive held the highest share in the market and is also expected to be the fastest-growing segment in the forecasted period. Electrification has been a major factor in driving technological developments in the automotive industry. The growing use of automotive electronics in modern vehicles necessitates the adoption of power semiconductors in the automotive segment during the forecast period.

By Region: The report provides insight into the power semiconductor market based on the regions namely, Asia Pacific, Europe, North America, and the Rest of the World. Asia Pacific held the major share of the market in 2022. China is the world's largest automotive market, and its growth potential remains high. In particular, high rates of growth for electric-powered vehicles make China one of the largest markets for electromobility. With the increasing electrification, the demand for power semiconductors would rise in China in the forthcoming years. Germany has strong semiconductor industries with established research centers and leading semiconductor companies. For example, Germany is known for its expertise in power electronics and semiconductor manufacturing, with companies like Infineon Technologies and Siemens leading the way.

The existing power grid infrastructure in the US is aging and in need of modernization. Smart grids are an upgrade to the traditional power grid, enabling better monitoring and control of the power system, and improved efficiency and reliability. Therefore, the demand for smart grids is increasing in the US which is significantly contributing to the demand for power semiconductors.

Market Dynamics:

Growth Drivers: The global power semiconductor market growth is predicted to be supported by numerous growth drivers such as increasing demand for electric vehicles (EVs), rising adoption of industrial automation, rising demand for consumer electronics, increasing demand for renewable energy, increasing disposable income, rising smart grid market, increasing role of power semiconductor in rail transportation, and many other factors. In EVs, due to the transition of the power system from an internal combustion engine to an electric drive system, the power system of the traditional mechanical structure is replaced by an electric motor and electronic control system. The electronic control system requires large amounts of power devices such as IGBT, a DC/AC converter, and an isolator. This has greatly increased the value of power semiconductors in EVs.

Challenges: However, the market growth would be negatively impacted by various challenges such as high development cost, supply chain disruptions, power failure, etc.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as like increasing auto electrification, the advent of 5G networks, rising inverterization rate of home appliance, rising demand for wide bandgap (WBG) semiconductors, increasing demand for miniaturized power semiconductors, etc. With the deployment of 5G networks, there would be a significant increase in the amount of data that needs to be processed and stored. This would lead to a surge in demand for data centers, which would require high-power and high-efficiency power semiconductors for their power conversion and distribution systems.

Impact Analysis of COVID-19 and Way Forward:

The COVID-19 pandemic has had a significant impact on the power semiconductor industry's growth. The pandemic has caused disruptions in global supply chains, making it more difficult to source raw materials and manufacturing equipment. However, as lockdown restrictions were normalized in the second half of 2020, the demand for power semiconductors like IGBT and MOSFET returned to the pre-pandemic level. The pandemic has highlighted the importance of energy efficiency, and there may be an increased demand for power semiconductor products that can help reduce energy consumption and costs. On the hand, the pandemic has accelerated the adoption of digital technologies, and there may be an increased demand for power semiconductor products that can support these technologies, such as wide bandgap semiconductors (e.g. SiC and GaN).

Competitive Landscape:

The global power semiconductor market is concentrated. The key players in the global power semiconductor market are:

Infineon Technology

ON Semiconductor Corporation

STMicroelectronics N.V.

Mitsubishi Electric Corporation

Toshiba Corporation

Fuji Electric Co., Ltd.

Vishay Intertechnology, Inc.

Renesas Electronics Corporation

ROHM Semiconductor

Texas Instruments Incorporated

Nexperia

StarPower Semiconductor

The power semiconductor industry is relatively centralized, with the top 10 companies taking up nearly 65% market share. Most power semiconductor industry players, including companies such as Infineon, Fuji Electric, and Mitsubishi, have adopted the IDM production model, handling design, manufacturing, assembly, and testing in-house. An IDM model allows for vertical integration, facilitating supply management. Thus, companies are moving to an IDM model to improve production efficiency and technological know-how. This would further help the companies to grow in the coming years.

Global Power Semiconductor Market: Analysis By Type (Power IC, MOSFET, IGBT, Diode, Thyristor, and BJT), By Application (Automotive, Consumer Electronics, Industrial, Telecommunication, and Other), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028

Table of Contents

1. Executive Summary
2. Introduction
2.1 Power Semiconductor: An Overview
2.2 Power Semiconductor Segmentation: An Overview
2.2.1 Power Semiconductor Segmentation
3. Global Market Analysis
3.1 Global Power Semiconductor Market: An Analysis
3.1.1 Global Power Semiconductor Market: An Overview
3.1.2 Global Power Semiconductor Market by Value
3.1.3 Global Power Semiconductor Market by Type (Power IC, MOSFET, IGBT, Diode, Thyristor, and BJT)
3.1.4 Global Power Semiconductor Market by Application (Automotive, Consumer Electronics, Industrial, Telecommunication, and Others)
3.1.5 Global Power Semiconductor Market by Region (Asia Pacific, Europe, North America, and the Rest of the World)
3.2 Global Power Semiconductor Market: Type Analysis
3.2.1 Global Power Semiconductor Market by Type: An Overview
3.2.2 Global Power IC Semiconductor Market by Value
3.2.3 Global MOSFET Power Semiconductor Market by Value
3.2.4 Global IGBT Power Semiconductor Market by Value
3.2.5 Global IGBT Power Semiconductor Market by Application (Industrial Control, New Energy Vehicles, New Energy Power Generation, Home Appliance, Railways, Power Systems, and Others)
3.2.6 Global IGBT Power Semiconductor Market by Component (Discrete IGBT, IGBT Module, and IPM)
3.2.7 Global Diode Power Semiconductor Market by Value
3.2.8 Global Thyristor Power Semiconductor Market by Value
3.2.9 Global BJT Power Semiconductor Market by Value
3.3 Global Power Semiconductor Market: Application Analysis
3.3.1 Global Power Semiconductor Market by Application: An Overview
3.3.2 Global Automotive Power Semiconductor Market by Value
3.3.3 Global Consumer Electronics Power Semiconductor Market by Value
3.3.4 Global Industrial Power Semiconductor Market by Value
3.3.5 Global Telecommunication Power Semiconductor Market by Value
3.3.6 Global Others Power Semiconductor Market by Value
4. Regional Market Analysis
4.1 Asia Pacific Power Semiconductor Market: An Analysis
4.1.1 Asia Pacific Power Semiconductor Market: An Overview
4.1.2 Asia Pacific Power Semiconductor Market by Value
4.1.3 Asia Pacific Power Semiconductor Market by Region (China, Japan, and the Rest of the Asia Pacific)
4.1.4 China Power Semiconductor Market by Value
4.1.5 Japan Power Semiconductor Market by Value
4.1.6 Rest of Asia Pacific Power Semiconductor Market by Value
4.2 Europe Power Semiconductor Market: An Analysis
4.2.1 Europe Power Semiconductor Market: An Overview
4.2.2 Europe Power Semiconductor Market by Value
4.2.3 Europe Power Semiconductor Market by Region (Germany, Italy, UK, France, and Rest of the Europe)
4.2.4 Germany Power Semiconductor Market by Value
4.2.5 Italy Power Semiconductor Market by Value
4.2.6 The UK Power Semiconductor Market by Value
4.2.7 France Power Semiconductor Market by Value
4.2.8 Rest of Europe Power Semiconductor Market by Value
4.3 North America Power Semiconductor Market: An Analysis
4.3.1 North America Power Semiconductor Market: An Overview
4.3.2 North America Power Semiconductor Market by Value
4.3.3 North America Power Semiconductor Market by Region (The US, Canada, and Mexico)
4.3.4 The US Power Semiconductor Market by Value
4.3.5 Canada Power Semiconductor Market by Value
4.3.6 Mexico Power Semiconductor Market by Value
4.4 Rest of World Power Semiconductor Market: An Analysis
4.4.1 Rest of World Power Semiconductor Market: An Overview
4.4.2 Rest of World Power Semiconductor Market by Value
5. Impact of COVID-19
5.1 Impact of COVID-19 on Global Power Semiconductor Market
5.2 Post COVID-19 Impact on Global Power Semiconductor Market
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Increasing Demand for Electric Vehicles (EVs)
6.1.2 Escalating Adoption of Industrial Automation
6.1.3 Growing Demand for Consumer Electronics
6.1.4 Increasing Demand for Renewable Energy
6.1.5 Increasing Disposable Income
6.1.6 Surging Smart Grid Market
6.1.7 Increasing Role of Power Semiconductor in Rail Transportation
6.2 Challenges
6.2.1 High Development Cost
6.2.2 Supply Chain Disruptions
6.2.3 Power Failure
6.3 Market Trends
6.3.1 Growing Automotive Electronics Market
6.3.2 The Advent of 5G Networks
6.3.3 Rising Inverterization Rate of Home Appliance
6.3.4 Increasing Demand for Wide Bandgap (WBG) Semiconductors
6.3.5 Growing Demand for Miniaturized Power Semiconductors
7. Competitive Landscape
7.1 Global Power Semiconductor Players by Market Share
7.2 China IGBT Players by Market Share
8. Company Profiles
8.1 Infineon Technology
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Business Strategy
8.2 ON Semiconductor Corporation
8.2.1 Business Overview
8.2.2 Operating Segments
8.2.3 Business Strategy
8.3 STMicroelectronics N.V.
8.3.1 Business Overview
8.3.2 Net Revenues by Product
8.3.3 Business Strategy
8.4 Mitsubishi Electric Corporation
8.4.1 Business Overview
8.4.2 Operating Segments
8.4.3 Business Strategy
8.5 Toshiba Corporation
8.5.1 Business Overview
8.5.2 Operating Segments
8.5.3 Business Strategy
8.6 Fuji Electric Co., Ltd.
8.6.1 Business Overview
8.6.2 Operating Segments
8.6.3 Business Strategy
8.7 Vishay Intertechnology, Inc.
8.7.1 Business Overview
8.7.2 Operating Segments
8.7.3 Business Strategy
8.8 Renesas Electronics Corporation
8.8.1 Business Overview
8.8.2 Operating Segments
8.8.3 Business Strategy
8.9 ROHM Semiconductor
8.9.1 Business Overview
8.9.2 Operating Segments
8.9.3 Business Strategy
8.10 Texas Instruments Incorporated
8.10.1 Business Overview
8.10.2 Operating Segments
8.10.3 Business Strategy
8.11 Nexperia
8.11.1 Business Overview
8.11.2 Business Strategy
8.12 StarPower Semiconductor
8.12.1 Business Overview
8.12.2 Business Strategy

List of Figures
Figure 1: Classification of Power Semiconductor
Figure 2: Power Semiconductor Segmentation
Figure 3: Global Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 4: Global Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 5: Global Power Semiconductor Market by Type; 2022 (Percentage, %)
Figure 6: Global Power Semiconductor Market by Application; 2022 (Percentage, %)
Figure 7: Global Power Semiconductor Market by Region; 2022 (Percentage, %)
Figure 8: Global Power IC Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 9: Global Power IC Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 10: Global MOSFET Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 11: Global MOSFET Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 12: Global IGBT Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 13: Global IGBT Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 14: Global IGBT Power Semiconductor Market by Application; 2022 (Percentage, %)
Figure 15: Global IGBT Power Semiconductor Market by Component; 2022 (Percentage, %)
Figure 16: Global Diode Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 17: Global Diode Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 18: Global Thyristor Power Semiconductor Market by Value; 2018-2022 (US$ Million)
Figure 19: Global Thyristor Power Semiconductor Market by Value; 2023-2028 (US$ Million)
Figure 20: Global BJT Power Semiconductor Market by Value; 2018-2022 (US$ Million)
Figure 21: Global BJT Power Semiconductor Market by Value; 2023-2028 (US$ Million)
Figure 22: Global Automotive Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 23: Global Automotive Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 24: Global Consumer Electronics Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 25: Global Consumer Electronics Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 26: Global Industrial Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 27: Global Industrial Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 28: Global Telecommunication Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 29: Global Telecommunication Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 30: Global Others Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 31: Global Others Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 32: Asia Pacific Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 33: Asia Pacific Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 34: Asia Pacific Power Semiconductor Market by Region; 2022 (Percentage, %)
Figure 35: China Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 36: China Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 37: Japan Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 38: Japan Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 39: Rest of Asia Pacific Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 40: Rest of Asia Pacific Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 41: Europe Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 42: Europe Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 43: Europe Power Semiconductor Market by Region; 2022 (Percentage, %)
Figure 44: Germany Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 45: Germany Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 46: Italy Power Semiconductor Market by Value; 2018-2022 (US$ Million)
Figure 47: Italy Power Semiconductor Market by Value; 2023-2028 (US$ Million)
Figure 48: The UK Power Semiconductor Market by Value; 2018-2022 (US$ Million)
Figure 49: The UK Power Semiconductor Market by Value; 2023-2028 (US$ Million)
Figure 50: France Power Semiconductor Market by Value; 2018-2022 (US$ Million)
Figure 51: France Power Semiconductor Market by Value; 2023-2028 (US$ Million)
Figure 52: Rest of Europe Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 53: Rest of Europe Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 54: North America Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 55: North America Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 56: North America Power Semiconductor Market by Region; 2022 (Percentage, %)
Figure 57: The US Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 58: The US Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 59: Canada Power Semiconductor Market by Value; 2018-2022 (US$ Million)
Figure 60: Canada Power Semiconductor Market by Value; 2023-2028 (US$ Million)
Figure 61: Mexico Power Semiconductor Market by Value; 2018-2022 (US$ Million)
Figure 62: Mexico Power Semiconductor Market by Value; 2023-2028 (US$ Million)
Figure 63: Rest of World Power Semiconductor Market by Value; 2018-2022 (US$ Billion)
Figure 64: Rest of World Power Semiconductor Market by Value; 2023-2028 (US$ Billion)
Figure 65: Global EV Sales Market Share; 2017-2022 (Percentage, %)
Figure 66: Global Industrial Automation Market Size; 2020-2025 (US$ Billion)
Figure 67: Global Consumer Electronics Market Revenue; 2017-2027 (US$ Billion)
Figure 68: Global Renewable Net Capacity Additions; 2020-2027 (GW)
Figure 69: Advanced Economies and Emerging Market & Developing Economies GDP Per Capita; 2018-2027 (US$ Thousand)
Figure 70: Global Smart grid technology market size; 2021-2026 (US$ Billion)
Figure 71: Global Automotive Electronics Market Size; 2021-2027 (US$ Billion)
Figure 72: Global 5G Smartphone Subscriptions; 2022-2028 (Billion)
Figure 73: Global Power Semiconductor Players by Market Share; 2022 (Percentage, %)
Figure 74: China IGBT Players by Market Share; 2022 (Percentage, %)
Figure 75: Infineon Technology Revenue by Segment; 2022 (Percentage, %)
Figure 76: ON Semiconductor Corporation Revenue by Segment; 2022 (Percentage, %)
Figure 77: STMicroelectronics N.V. Net Revenues by Product ; 2022 (Percentage, %)
Figure 78: Mitsubishi Electric Corporation Revenue by Segment; 2022 (Percentage, %)
Figure 79: Toshiba Corporation Net Sales by Segment; 2022 (Percentage, %)
Figure 80: Fuji Electric Co., Ltd. Net Sales by Segment; 2022 (Percentage, %)
Figure 81: Vishay Intertechnology, Inc. Net Revenues by Segment; 2022 (Percentage, %)
Figure 82: Renesas Electronic Corporation Revenue by Segment; 2022 (Percentage, %)
Figure 83: ROHM Semiconductor Net Sales by Segment; 2022 (Percentage, %)
Figure 84: Texas Instruments Incorporated Revenue by Segment; 2022 (Percentage, %)
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