Power Semiconductor Market worth USD 25.3 billion by 2030

 The Market Statsville Group (MSG) publishes the new report on the "Power Semiconductor Market by Component (Discrete, Module, and Power Integrated Circuits), by Material (Silicon Carbide, Silicon/Germanium, and Gallium Nitride), by End-Users (Automotive, IT and Telecommunication, Military and Aerospace, Consumer Electronics, Power, Industrial, and Others), by Region – Global Share and Forecast to 2030".

The global power semiconductor market size is expected to grow from USD 19.3 billion in 2021 to USD 25.3 billion by 2030, at a CAGR of 4.8% during the forecast period (2022-2030). Power deliver brings more intelligence to the charger and enables the detection of the connected device. This allows the charger to deliver the exact amount of power needed to charge it in the shortest possible time. Charger with GaN (Gallium Nitride) increases efficiency, lowers the heat, and decreases each product’s size.

Moreover, increasing consumer electronics usage is anticipated to drive the silicon carbide power semiconductor market in the forecast period. However, there are only a few silicon carbide wafer manufacturers worldwide who can produce such materials in bulk. Hence, there has been a shortage of silicon carbide wafers, which could challenge the SiC power semiconductor market growth during the forecast period.

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Global Power Semiconductor Market Segmentation

The global power semiconductor market has been segmented into the component, material, end-users, and region

• By Component (Discrete, Module, and Power Integrated Circuits)
• By Material (Silicon Carbide, Silicon/Germanium, and Gallium Nitride)
• By End-Users (Automotive, IT and Telecommunication, Military and Aerospace, Consumer Electronics, Power, Industrial, and Others)
• By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)

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Silicon/germanium, by material, is estimated to hold the largest market share during the forecast period

Based on material, the global power semiconductor market is segmented into silicon carbide, silicon/germanium, and gallium nitride. The silicon/germanium segment generated the highest revenue of 52.6% in the global power semiconductor market in 2021. Si MOSFET is mostly used electronic switch or amplifier, where, by using a specific voltage, it leaks or controls flows of a different voltage current. Si MOSFETs dominate the transistor segment presently and are mainly preferred for high-frequency applications (>200kHz). In a-Si MOSFET, the gate contact is separated from the channel by an insulating silicon dioxide (SiO2) layer. The silicon dioxide gate dielectric integrity was the factor that thrived Si MOSFETs' usage. Reducing the thickness of the Si MOSFET was a significant constraint. Problems like penetration of impurities, dielectric thickness variation, particularly boron, from the highly doped polysilicon gate, reliability, and lifetime problems for devices and gate leakage current. Also, gate leakage current reduces battery life in standby mode for low power applications.

However, the growing need for high voltage performance and advancement in the semiconductor industry also attract market vendors toward SiC or GaN material. For instance, one of the disadvantages of Si is in the tunneling currents, which leak through the various barriers in a MOSFET when it becomes minimal, and in the thermally generated subthreshold currents. This limits their mass production. Due to these leakage currents, scaling limits arise from application constraints related to power consumption and circuit functionality. Hence for high power applications, SiC is more preferred.

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Asia Pacific accounts for the largest market share in 2021

Based on the regions, the global power semiconductor market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 55.1% in the global power semiconductor market. The region's semiconductor industry is driven by Taiwan, China, India, South Korea, and Japan, which together constitute around 63% of the global discrete semiconductor market, while others nations like Thailand, Malaysia, Singapore and Vietnam also contribute significantly to the region's dominance in the market.

Moreover, Singapore is making initiatives to become Asia's epicenter for GaN semiconductor technology. In Aug 2020, Singapore -based IGSS GaN (IGaN), a technology developer and commercialization expert in gallium nitride -on -silicon/silicon carbide (GaN -on -Si/SiC), announced to continue its expansion following demonstrated successes in pilot lines of customers.

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This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the power semiconductor market. It also consists of the profiles of leading companies such as Mitsubishi Electric, Fuji Electric, NXP Semiconductor Inc., ABB, Infineon, Hitachi, Semikron, Toshiba, Renesas Electronics, and Broadcom Inc.

About Market Statsville Group

Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.

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