Power MOSFET Market to Reach $6,340 Million by 2023

The Power MOSFET market was valued at $3,730 million in 2016 and is projected to reach $6,340 million by 2023, growing at a CAGR of 7.4% from 2017 to 2023. The enhancement mode power MOSFET segment held more than half of the total market in 2016.

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Enhancement mode power MOSFET module is the foremost device, widely used in various electronic devices. At present, the rise in demand for higher efficiency, faster switching, and minimal power loss drives the market. Moreover, an aggrandized need for compact voltage operating device is expected to provide growth opportunities to the market players. However, depletion mode power MOSFET segment is expected to witness significant growth in the future, owing to its compact size and enhanced efficiency.

Low power MOSFET segment is projected to maintain its lead in the overall MOSFET market, as these modules are used in consumer electronics, such as smartphone, televisions, and others. Moreover, Asia-Pacific is the major revenue contributor to this market due to increase in demand for electric gadgets, which utilize MOSFET for power transaction. China, India, and Japan are the major consumers of MOSFET in the Asia-Pacific region.

Among applications, consumer electronics segment dominated the global market in 2016, accounting for 23% share. High input impedance and improved parallel current sharing have fueled the market growth. However, the industrial system is anticipated to be the most lucrative application segment and is expected to grow at the highest CAGR of 9.0% during the forecast period.

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Asia-Pacific was the major revenue contributor in 2016 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increase in the number of power management devices and solutions. Moreover, developments in energy & power and automotive sectors are anticipated to boost the growth of the power MOSFET market, especially in the Asia-Pacific countries, such as China, Japan, Australia, and India.

Asia-Pacific is anticipated to grow at highest CAGR of 8.4% during the analysis period, owing to an increase in demand for switching devices and rise in the adoption of controllers in consumer electronics and other sectors. Technological advancements to overcome the complexity of the circuit are expected to offer lucrative opportunities for market players in the near future.

Key Findings Of The Power MOSFET Market:

•In 2016, the enhancement mode power MOSFET segment dominated the global power MOSFET market, in terms of revenue, and is anticipated to grow at a CAGR of 6.9% during the forecast period.

•The medium power MOSFET segment is expected to exhibit the highest growth rate, owing to the flexibility and durability.

•The consumer electronics segment dominated the global power MOSFET market, accounting for nearly one-third of the total market share in 2016.

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MOSFET is an electronic switching device used to control, and manage the power in an effective manner. It is designed to perform a single set of tasks with superior reliability and performance. Moreover, they offer several benefits such as high efficiency, reduced system complexity, and minimized system maintenance. Low power MOSFET almost 48% of the total power MOSFET market, owing to its resilience and higher efficiency.

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