Regardless of a company’s size or income, the most recent research study offers an exhaustive analysis of the Power Semiconductor market for 2023–2032. This survey study discusses the key market trends and the industry’s outlook for the forecast years.
Global Power Semiconductor Market presents a variety of new trends that have a significant impact on market growth dynamics as well as the most recent industry knowledge. According to the most recent projection, global growth will reach its lowest point this year at 2.8% before edging up to 3.0% in 2024. Although more slowly than expected, the rate of global inflation will drop from 8.7% in 2022 to 7.0% this year and 4.9% by 2024. Notably, growth rates for emerging markets and developing economies have increased significantly in many cases, from 2.8 percent in 2022 to 4.5% this year.
The global power semiconductor market size was US$ 18.9 billion in 2021. The global power semiconductor market is forecast to grow to US$ 24.9 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
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A power semiconductor is used in power electronics as a rectifier or switch. Power semiconductors carry out comparable functions to conventional semiconductor technology. Extreme voltages, large electrical currents, and frequencies up to several gigawatts can all be handled by these high-performance components.
Factors Influencing the Market
The global power semiconductor market is driven by the rising demand for consumer electronics and wireless communication technologies. In addition, the demand for energy-efficient battery-powered portable devices is growing steadily, which is expected to bring lucrative growth opportunities for the power semiconductor market during the forecast period.
Lithium-ion technology is considered one of the best power sources. However, the technology has some limitations, such as low battery life, which is forecast to drive the demand for superior solutions. Thus, it will be opportunistic for the manufacturers. Apart from that, rising innovations by the manufacturers, such as the new era of fast charging adapters by OPPO, one plus, Motorola, Samsung, Apple, etc., will boost the growth of the power semiconductor market.
On the flip side, a shortage of silicon wafers may limit the growth of the market during the study period.
COVID-19 Impact Analysis
The COVID-19 disease outbreak hampered the growth of the global power semiconductors market as the industry has experienced a dramatic reduction in demand and sales. Business strategists reduced production in order to adhere to the guidelines. Apart from that, the consumer electronics and automotive sectors witnessed a sharp decline in terms of revenue, which, in turn, halted the demand for power semiconductors.
Regional Analysis
Asia Pacific is predicted to experience the greatest CAGR in the power semiconductor market over the projected period. China is among the largest producers of electronic products around the globe. Apart from that, energy output will certainly increase as a result of the nation’s anticipated rise in energy demand. For instance, China unveiled the second-biggest solar power plant in the world in October 2020. Thus, it will significantly contribute to the growth of the power semiconductor market during the study period.
North America holds second place in the power semiconductor market, owing to the growing economic developments and increasing living standards of the people. Apart from that, the growing trend of autonomous vehicles will bring untapped growth opportunities for this power semiconductor market during the study period.
Competitors in the Market
• Mitsubishi Electric
• NXP Semiconductor Inc.
• Fuji Electric
• Infineon
• ABB
• Semikron
• Hitachi
• Renesas Electronics
• Toshiba
• Broadcom Inc.
• Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Power Semiconductor industry experienced notable growth in its workforce. Starting in January, employment within the Power Semiconductor sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Power Semiconductor output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Power Semiconductor output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Power Semiconductor market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Power Semiconductor market.
Market Segmentation
The global power semiconductor market segmentation focuses on Component, Material, End-Users, and Region.
By Component Outlook
• Discrete
• Module
• Power Integrated Circuits
By Material Outlook
• Silicon/Germanium
• Silicon Carbide (Sic)
• Gallium Nitride (Gann)
By End-Users Outlook
• Automotive
• Consumer Electronics
• IT and Telecommunication
• Military and Aerospace
• Power
• Industrial
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
Table of Contents:
Chapter 1: Introduction to the Global Power Semiconductor Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Power Semiconductor Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Power Semiconductor Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Power Semiconductor Market Size (2023-2032)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Power Semiconductor market revenues, extending projections until 2032. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Power Semiconductor market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Power Semiconductor business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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