Hyderabad, Aug. 09, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Power Semiconductor Market Report (2023-2028)," the market is estimated at USD 41.81 billion in 2023. It is expected to register a CAGR of 3.66% during the forecast period.
Power semiconductors are devices that provide efficiency and can withstand high voltages and currents with lower losses. These devices can start, stop, and optimize the voltage in electronic systems.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 41.81 billion |
| Market Size (2028) | USD 49.23 billion |
| CAGR (2023-2028) | 3.66% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growth of vehicle electrification. |
| The goal of carbon emission reduction. |
Who are the Top Companies in the Power Semiconductor Market?
The power semiconductor market is concentrated in nature. It comprises various international players. The market witnesses moderately high barriers to entry for new players, where few vendors hold a prominent share. The market is expected to register high demand from new customers in end-user industries, thereby increasing the competitive rivalry.
Significant players in the power semiconductor market are,
- Infineon Technologies AG
- Texas Instruments Incorporated
- QORVO INC.
- STMicroelectronics NV
- NXP Semiconductors NV
- ON Semiconductor Corporation
- Renesas Electric Corporation
- Broadcom Inc.
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Fuji Electric Co. Ltd
- Semikron Danfoss Holding A/S (Danfoss A/S)
- Wolfspeed Inc.
- Rohm Co Ltd
- Vishay Intertechnology Inc
- Nexperia Holding B.V. (Wingtech Technology Co. Ltd)
- Alpha & Omega Semiconductor
- Magnachip Semiconductor Corp.
- Microchip Technology Inc.
- Littlefuse Inc.
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Key Highlights from the Power Semiconductor Market Report:
Demand for MOSFETs as the Main Discrete Semiconductor Component
- MOSFETs are used in consumer electronics due to their versatility. They are used in power management applications like voltage reduction and DC-DC conversion. They are ideal for all consumer devices as they can switch power on and off quickly.
- The growing sales of consumer electronics like televisions, laptops, and cell phones are propelling the usage of MOSFETs in the consumer electronics sector.
Asia-Pacific to Register Prominent Growth
- In Asia-Pacific, growing opportunities in consumer electronics, telecom, and automotive applications are leading to the prominent growth of the market in the region.
- Power electronics are becoming popular in EVs, which require high-power energy to rotate electric motors. MOSFETs and IGBT are power electronic switches in power train systems, which are increasingly being used in energy-efficient hybrid EVs in China, India, Japan, and others to reduce environmental pollution.
What are the Latest Developments in the Power Semiconductor Market?
- In May 2023, Infineon Technologies AG launched its latest generation of power MOSFETs, the OptiMOS7 40 V MOSFET family, for automotive applications in lead-free and robust power packages.
- In May 2023, Toshiba Electronics Europe launched a new 150 V N-channel power MOSFET to provide a high-performance switching power supply to communication base stations.
Mordor Intelligence has Segmented the Power Semiconductor Market Based on Component, Material, End-User Industry, and Geography:
- By Component (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Discrete
- Rectifier
- Bipolar
- MOSFET
- IGBT
- Other Discrete Components (SiC and GaN)
- Modules
- Thyristor
- IGBT
- Others
- Power IC
- Multichannel Pmics
- DC/DC Switching Regulators
- Linear Regulators
- BMICs
- Other Components
- Discrete
- By Material (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Silicon
- Silicon Carbide (SiC)
- Gallium Nitride (GaN)
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Automotive
- Consumer Electronics
- IT and Telecommunications
- Military and Aerospace
- Power
- Industrial
- Other End-user Industries
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- Rest of the World
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Power Semiconductor Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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