Enjoy complimentary customisation on priority with our Enterprise License!
The power semiconductor market share is expected to increase by USD 10.48 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.03%.
This power semiconductor market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers power semiconductor market segmentation by application (automotive, industrial power control, and others) and geography (APAC, Europe, North America, South America, and MEA). The power semiconductor market report also offers information on several market vendors, including Fuji Electric Co. Ltd., Infineon Technologies AG, Littelfuse Inc., Mitsubishi Electric Corp., Nexperia BV, Renesas Electronics Corp., Semiconductor Components Industries LLC, Texas Instruments Inc., Toshiba Corp., and Vishay Intertechnology Inc. among others.
Download the Free Report Sample to Unlock the Power Semiconductor Market Size for the Forecast Period and Other Important Statistics
The increasing electrification in vehicles is notably driving the power semiconductor market growth, although factors such as the supply-demand gap may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the power semiconductor industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Power Semiconductor Market Driver
The increasing electrification in vehicles is one of the key drivers supporting the power semiconductor market growth. Customers prefer vehicles with increased safety, convenience, and connectivity features. Vehicles equipped with advanced driver assistance systems (ADAS) have onboard diagnostic systems that record errors in the system and store them in the vehicle log. Furthermore, safety features such as adaptive cruise control and emergency braking systems use the lower levels of automotive artificial intelligence to enhance driving safety. The increasing penetration of electronics and the dependence of vehicles on them have made power semiconductors one of the inevitable electronic components in vehicles. Such factors will enhance the growth of the market during the forecast period.
Key Power Semiconductor Market Trend
The increased demand for vehicles that operate on alternative fuels is another factor supporting the power semiconductor market growth. Vehicles that operate on alternative fuel use more electronic components as compared with conventional internal combustion engine vehicles. Each motor present in electric vehicles uses automotive semiconductors. Power semiconductor devices are key components in all power electronic systems, especially in hybrid, electric, and fuel cell vehicles. These devices, including IGBTs, freewheeling diodes, and advanced power module technology, have applications in electric vehicles. Emerging wide bandgap semiconductor devices such as SiC devices and their potential applications in electric vehicles will increase the adoption of power semiconductors. Such factors will drive the growth of the market during the forecast period.
Key Power Semiconductor Market Challenge
The supply-demand gap is hindering the power semiconductor market growth. Silicon carbide (SiC) semiconductors are innovative options for improving system efficiency, supporting higher operating temperatures, and reducing costs in power electronics designs. Therefore, the growing significant demand for SiC has made it challenging for their suppliers to meet the rapid demand of growth. The power devices are not commoditized, and there are real differences in the performance and reliability of the product. Silicon carbide is not available as a natural mineral. SiC doping is a difficult process, and the challenges of producing larger SiC wafers with fewer defects have kept manufacturing and processing costs high. Such factors will hinder the market growth during the forecast period.
This power semiconductor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the power semiconductor market as a part of the Global semiconductors market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the power semiconductor market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the power semiconductor market encompasses successful business strategies deployed by the key vendors. The power semiconductor market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The power semiconductor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the power semiconductor market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the semiconductors market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
For more insights on the market share of various regions Request for a FREE sample now!
54% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for the power semiconductor market in APAC. Market growth in this region will be slower than the growth of the market in other regions. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
To gain further insights on the market contribution of various segments Request for a FREE sample
The power semiconductor market share growth by the automotive segment will be significant during the forecast period. Power electronics make automotive technology cheaper, leading to their widespread adoption. Electrification has been a major factor in driving technological developments in the automotive industry. Automotive systems such as fuel delivery systems, braking systems, steering systems, and safety systems are increasingly fitted with electronic components with integrated chips to help fine-tune every operation and increase the efficiency of the overall system. The growing use of automotive electronics in modern vehicles necessitates the adoption of the automotive segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the power semiconductor market size and actionable market insights on post COVID-19 impact on each segment.
Radio-frequency (RF) Power Semiconductor Devices market - The market size has the potential to grow by 985.50 thousand units during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
Wide-bandgap (WBG) Power Semiconductor Devices market - The market size is predicted to surge to USD 4.71 billion from 2021 to 2026 at a CAGR of 35.12%.
Compound Semiconductor market - The market share is expected to increase by USD11.53 bn from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.33%.
Power Semiconductor Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.03% |
Market growth 2022-2026 |
$ 10.48 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.83 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 54% |
Key consumer countries |
China, US, Japan, Germany, and South Korea (Republic of Korea) |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Fuji Electric Co. Ltd., Infineon Technologies AG, Littelfuse Inc., Mitsubishi Electric Corp., Nexperia BV, Renesas Electronics Corp., Semiconductor Components Industries LLC, Texas Instruments Inc., Toshiba Corp., and Vishay Intertechnology Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.