Power Semiconductors Market Size Will Reach US$ 39.6 Billion, with a Growth Rate of 8.1% from 2020 To 2021 - QY Research Report

COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

According to IHS data, in 2019, the global power semiconductor market will reach US $40.3 billion, a year-on-year increase of 3.3% compared with 2018.

Based on our recent survey, we have several different scenarios about the power semiconductor YoY growth rate for 2020. The probable scenario is expected to grow by a -9.1% in 2020 and the revenue will be 36.7 billion in 2020. The market size of power semiconductor will reach US$ 39.6 billion, with a growth of 8.1% from 2020 to 2021.

China's power semiconductor market will reach US$14.48 billion, accounting for 35.9% of the global power semiconductor market, and in 2020 will be US$ 13.8 billion due to the COVID-19 impact.

Power IC, IGBT, MOSFET, and diode are the four most widely used power semiconductor products.

According to our research, power ICs accounted for 54% of the global power semiconductor market size in 2017, making them the largest power semiconductor products by market share.

MOSFET is mainly used in uninterruptible power supply, switching power supply, inverter audio equipment and other fields. In 2017, the MOSFET market size accounted for 17% of the overall power semiconductor market size.

Power diodes were mainly used in power supply, adapter, automotive, consumer electronics and other fields. Annual global power diode sales account for about 15% of the total sales of power semiconductors. Due to the wide operating frequency range of IGBTs, which can cover a higher power range, it is suitable for rail transportation, photovoltaic power generation, automotive electronics and other fields. In 2017, IGBT sales accounted for 12%.

Major players of Power Semiconductor Market in 2019:

o Infineon
o Texas Instruments
o ON Semiconductor
o STMicroelectronics
o Mitsubishi Electric Corporation
o Toshiba
o Vishay Intertechnology
o Fuji Electric
o Nexperia
o Littelfuse
o Renesas Electronics
o Semekron

MOSFET

The MOSFET market is dominated by manufacturers such as Infineon and ON Semiconductor. According to IHS statistics, global power MOSFET discrete device sales in 2018 reached US $ 7.58 billion, of which Infineon sales reached US $ 2.1 billion, accounting for 27.7% of global power MOSFET sales.

ON Semiconductor, STMicroelectronics, Toshiba Semiconductor, Renesas Electronics has 13.1%, 8.0%, 7.0%, and 7.0% market shares, the top five suppliers occupy 62.8% market shares, and the top ten suppliers account for 81% market shares.

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Major players of MOSFET in 2019

o Infineon
o ON Semiconductor
o STMicroelectronics
o Toshiba
o Renesas Electronics
o Vishay Intertechnology
o A & O
o Nexperia
o Microchip

IGBT

IGBTs are concentrated in manufacturers such as Infineon, ON Semiconductor, and Mitsubishi Electric. In terms of IGBT, the global discrete IGBT market size reached USD 1.31 billion in 2018, and Infineon accounted for 37.4%. Infineon, ON Semiconductor, Fuji Electric, littelfuse, and STMicroelectronics accounted for 67.8% of the top five manufacturers, and the top ten Manufacturers accounted for 86.1%; global IGBT module sales reached US $ 3.25 billion in 2018.

Major Player of Discrete IGBT in 2019

o Infineon
o ON Semiconductor
o Fuji Electric
o Littelfuse
o STMicroelectronics
o Mitsubishi Electric Corporation
o Renesas Electronics
o MagnaChip
o Toshiba
o Microchip

Power Diode

The power diode market is fragmented. At present, the power semiconductor market is relatively fragmented. Vishay is the world's largest supplier of power diodes, accounting for about 10% of the world, and the top five manufacturers account for about 28%. The market concentration of power diodes is much lower than MOSFETs and IGBTs.

Power IC

Power IC is a miniature structure that integrates components such as transistors, diodes, resistors, capacitors, etc. on a semiconductor wafer and has the required circuit functions. Depending on the application scenario, power ICs include AC/DC, DC/DC, power management, and driver ICs.

Market Opportunities and Drivers

Automotive Electrification

The electrification of automobiles has driven the increase in the value of car semiconductors. Compared with traditional fuel vehicles, new energy vehicles have more batteries, motors, motor controllers, DC / DC, air conditioning drives, and chargers. Air-conditioning, charging system, inverter, DC / DC and other core components of electric vehicles are all Power devices are required to convert the supply voltage and DC to AC.

According to Infineon's prediction, the value of semiconductor components for young hybrid vehicles (MHEV) in 2019 will be about $ 531, while plug-in hybrid vehicles (PHEV) and pure electric vehicles (BEV) will be semi-conductive.

The value of body components reached USD 785 and USD 775, respectively, 48% and 46% higher than MHEV.

IGBT modules are the core components of photovoltaic power generation inverters and wind power inverters. New energy power generation drives the continuous growth of power semiconductors. The electric energy generated by solar energy and wind energy does not meet the requirements of the power grid. Photovoltaic inverters / wind power inverters can rectify them into direct current, and then input them to the grid after inverting them to meet the grid requirements.

IGBT is the core component of photovoltaic inverter and wind power inverter. The power group price of a photovoltaic inverter is mainly composed of IGBTs and power diodes. The power components in a wind power inverter are similar to the power components of a photovoltaic inverter. IGBTs in photovoltaic inverters and wind power inverters are mainly 1200V-1700V IGBTs.

Demand for Home Appliances Frequency Conversion

Power semiconductor is the core semiconductor device for frequency conversion technology. Frequency conversion technology uses power semiconductor components such as IGBTs, MOSFETs, and thyristors to convert and control electrical energy to achieve changes in voltage and frequency. The application of frequency conversion technology is mainly concentrated in the fields of home appliances, new energy vehicles, rail transit, etc.

Among them, frequency conversion home appliances are the most important application areas. Compared with traditional white appliances, inverter white appliances are more efficient and energy-saving, can achieve precise control, achieve comfort and quietness, and can achieve diversified functions.

According to Infineon data, frequency conversion technology can enable appliances to save 60% of energy efficiency.

5G Communication Drives Demand for Power Semiconductors

5G massive MIMO technology drives demand for power semiconductors for single stations. Global mobile communication technology has entered the 5G era. Compared with 4G communication technology, 5G uses technologies such as millimeter wave and massive MIMO to achieve large bandwidth and low latency network transmission.

Industrial Internet Demand

In the industrial field, the field of real power semiconductors is the largest. Power semiconductors are widely used in the industry. Industrial equipment such as CNC machine tools, blowers, power generation systems, and rolling mills require power semiconductor devices. On the other hand, due to the gradual disappearance of China's demographic dividend, improving social productivity has become an inevitable choice, and the industry will develop in the direction of automation and networking in the future.

According to the Prospective Industry Research Institute, the scale of China's industrial Internet market will reach 608 billion yuan in 2019, and it is expected to reach 1,250 billion yuan in 2024, with a five-year compound growth rate of 15.5%.

Power semiconductors are the core components for power control. It is expected that in the future, the demand for industrial Internet will increase. According to ON semiconductor data, compared to manual production, robot production will bring about $ 250 in semiconductor value, which is mainly composed of semiconductor components such as MOSFETs, diodes, and image sensors.

Market Risk:

Demand for new energy vehicles, home appliances, and communications fell short of expectations. Power semiconductors, as important devices for power conversion, are widely used in new energy vehicles, variable frequency appliances and communications.

If the penetration rate of new energy vehicles is lower than expected, sales of variable frequency appliances such as air conditioners are lower than expected, and 5G communication technology is not promoted as expected. Will affect the demand for power semiconductor devices.

Following are the segments covered by the report are:

o Power Semiconductor Device
o Power Module
o Power Integrated Circuits

By type, power integrated circuits is the most commonly used type, with about 53.68% market share in 2018.

By Application:

o Industrial
o Automobile
o Communication
o Consumer Electronics

Power semiconductor is widely used in many areas, which applied most in industrial with about 35% market share in 2018.

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