Power Semiconductor Market Size, Share, Growth Trends, Opportunities and Market Forecast 2023 – 2030

May 16 22:51 2023
Power Semiconductor Market Size, Share, Growth Trends, Opportunities and Market Forecast 2023 - 2030
Power Semiconductor Market – DataM Intelligence
The Global Power Semiconductor Market is estimated to grow at a CAGR of 15.0% during the forecast period 2023-2030

Power Semiconductor Market Overview:

According to the DataM report, the global power semiconductor market is expected to grow at a CAGR of 15.0% during the forecast period (2023-2030). One of the primary market drivers producing a good outlook for market growth is the automobile industry’s rapid global expansion. Additionally, a number of technological developments, like the use of x-by-wire or drive-by-wire technologies that help reduce vehicle weight, improve fuel efficiency, and reduce emissions, are boosting market growth.

Power semiconductors are used to correct and amplify electrical signals and turn the flow of electricity on and off, like all semiconductor devices. The transmission and distribution of power across great distances are two common uses. Regular semiconductors carry out the same functions, albeit much smaller than power semiconductors. These high-performance components can handle several gigawatts of electrical current, voltage, and frequency.

Semiconductors use SiC (Silicon Carbide) in solar and wind energy power converters to reduce energy loss and extend their lifespan. SiC is used for high-power applications because of the wide bandgap offered. While a variety of polytypes (polymorphs) of SIC exists, 4H-SIC is the most ideal for power devices. The increase in R&D activities that target enhanced material capabilities is expected to provide a strong impetus for market growth.

Power Semiconductor Market Drivers:

The increasing consumption of consumer electronics devices worldwide drives the market’s growth positively. A massive range of consumer products requires semiconductors today, including communications devices. (Smartphones, tablets, smartwatches, and other devices), Computers, entertainment systems, and home appliances.

Smartphones are the primary consumers of semiconductors in this market. Smartphones have been subject to intense competition in recent years. Increasing mobile phone usage is also anticipated to propel the global market.

Power Semiconductor Market Restraints:

Power semiconductors are complex devices that require a high level of technical expertise to design and manufacture. This has led to a shortage of skilled personnel, limiting the market’s growth.

Power semiconductors require expensive materials, such as SiC and gallium nitride, which increase their cost. This makes them less accessible to small and medium-sized enterprises (SMEs), limiting their adoption and growth.

Power Semiconductor Market Opportunities:

Electric vehicles require power semiconductors for their power electronics systems. As the adoption of electric vehicles continues to increase globally, there is a significant opportunity for growth in the power semiconductor market.


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COVID-19 Impact Analysis:

The COVID-19 pandemic has significantly impacted the global power semiconductor market, causing disruption in supply chains, manufacturing, and demand. One of the most significant impacts has been on the worldwide supply chain, which has been disrupted due to the pandemic. The closure of manufacturing plants and restrictions on logistics and transportation led to delays in the delivery of components and raw materials, impacting production schedules. This has led to a shortage of some power semiconductor products, which has, in turn, affected the pricing of these products.

Russia-Ukraine Conflict Analysis:

As soon as Russia began its illegitimate and unjustified full-scale invasion of Ukraine, the U.S., the UN, and other countries-imposed sanctions on the country. Numerous businesses are starting to cease operations in Russia as a result of the current turmoil. As companies begin to exit the Russian market, these sanctions will undoubtedly have a big impact on the global industry.

Recent Developments in the Industry:

  • In April 2023, Toppan, a Japanese printing company, launched a contract manufacturing handling service for power semiconductors. The service will enable device manufacturers to respond to strong demand by increasing mass production.
  • On February 16, 2023, Infineon Technologies AG, a Germany semiconductor and microelectronics company, announced the start of construction of a new 300-mm power semiconductor fab in Dresden, Germany. The plant is expected to commence production by 2026. 
  • In October 2022, leading global power semiconductor manufacturers such as Wolfspeed, STMicroelectronics, SK Siltron, and Onsemi announced independently various plans to boost the production of SiC power semiconductors due to rising demand and ensure the stability of the semiconductor supply chain.

Market Segmentation:

As per the research analysis, the global power semiconductor market is segmented by component into Discrete, Module, and Power Integrated Circuit; by material into Silicon (Si), Silicon Carbide (SiC), Gallium Nitride (GaN), and IGBT, MOSFET; and by application into Automotive, Consumer Electronics, Military & Aerospace, Industrial.

  • Based on application: the automotive segment is 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.

Geographical Classification:

The global power semiconductor market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa.

Asia-Pacific power semiconductor market:

Asia-Pacific accounted for the largest market share and is estimated to grow at a CAGR of 3.6% during the forecast period. Due to the region’s dominance of the global semiconductor business and the support of government regulations, the Asia-Pacific region is predicted to dominate the market for power semiconductors.

North America Power Semiconductor Market:

North America is the second largest region. It is estimated to reach an expected value of USD 8.5 billion by 2030, registering a CAGR of 2.6%. The North American region is the early adopter of new technology in manufacturing, design, and research in the semiconductor industry. The growth in the power semiconductor market in North America strongly correlates with the growth of end-user industries, such as automotive, IT and telecommunications, military and aerospace, consumer electronics, and others.

Europe Power Semiconductor Market:

Europe is the third largest region. The European region is home to some of the most crucial tech hubs globally and a significant driver and adopter of modern technology. The growing penetration of advanced technologies and the increasing adoption of semiconductors in various industries drive the market’s growth. The growing involvement of regional government in promoting research programs has enhanced many semiconductor-oriented sectors, and it is supported by high technology connectivity environment.

Competitive Analysis:

The major global players include Infineon Technologies AG, STMicroelectronics, NXP Semiconductors, Renesas Electronics Corporation, Robert Bosch GmbH, Mitsubishi Electric Corporation, Semiconductor Components Industries, LLC, LittelFuse, Texas Instruments, Analog Devices, Qualcomm, Semikron Elektronik GmbH & Co. KG, Toshiba Corporation and Fuji Electric Co., Ltd.


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Additional Benefits Post Purchase:

1) Unlimited Analyst support for a period of 1 year. 

2) Any query with regard to the scope offered will be addressed within 24- 48 hours.

3) An Excel sheet with market numbers will be provided separately.


The Full Report has the below insights: 

  • The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
  • Visualize the composition of the global power semiconductor market segmentation by, component, material, application and region, highlighting the key commercial assets and players. 
  • By Component: Discrete, Module, Power Integrated Circuit
  • By Material: Silicon (Si), Silicon Carbide (SiC), Gallium Nitride (GaN), IGBT, MOSFET
  • By Application: Automotive, Consumer Electronics, Military & Aerospace, Industrial
  • By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
  • Identify commercial opportunities in the global power semiconductor market by analyzing trends and co-development deals.
  • The report also covers data insights on various industry forces such as Porter’s five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
  • Excel data sheet with thousands of data points of global power semiconductor market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. 
  • Product mapping in Excel for the key product of all major market players
  • The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.


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