Power Semiconductor Market Industry Analysis and Opportunities 2029

Market Overview:
The Global Power Semiconductor Market is expected to grow at a CAGR of 15% during the forecasting period (2022-2029).

There are several worldwide and local companies in the fiercely competitive world market for power semiconductors. Infineon Technologies AG, Texas Instruments, Analog Devices, Semiconductor Components Industries, LLC, STMicroelectronics, and Qualcomm are the top players in the global market for power semiconductors. For many years, the power semiconductor industry was dominated by silicon-based products like power MOSFETs and insulated-gate bipolar transistors (IGBTs). Both are developed and cheaply priced, but in a number of respects, their theoretical potential has been exhausted.

The forecasted expansion of the market is being aided by the rising investment in power semiconductors to meet the rising demand for electric vehicles.

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Power Semiconductor Market Size and Future Apprehension:
As per the research report by DataM Intelligence, the global power semiconductor market was valued at US$ YY Million in 2021; it is projected to reach US$ YY Million by 2029, with growth at a CAGR of 15.0% over the forecast period 2022-2029. The market for power semiconductors has grown significantly as a result of rising investments and a growing shift toward renewable energy sources. The product's market share is also driven by improvements in material technology for power semiconductors.

Power Semiconductor Market Drivers:
The rising global usage of consumer electronics gadgets propels the industry forward. Today, semiconductors are required in a wide range of consumer items, including communications devices such as smartphones and smart watches.
The smartphone is the leading consumer of semiconductors in this sector. In recent years, the smartphone industry has seen fierce rivalry. Rising mobile phone usage is also expected to push the global industry.

The India Brand Equity Foundation(IBEF) predicts that the Indian appliances and consumer electronics (ACE) industry would grow at a 9% CAGR to INR 3.15 trillion (USD 48.37 billion) by 2022. This is expected to drive market expansion throughout the forecast period.

Power Semiconductor Market Restraints:
While rising consumer electronics and wireless communication demand, as well as increasing demand for battery-powered, energy-efficient portable devices, are fueling the market's expansion, factors such as the anticipated global silicon wafer shortage in combination with ROI metrics are expected to stymie that growth.
Power Semiconductor Market Opportunities:
A constant increase in non-conventional energy sources is predicted to accelerate the use of power semiconductors in the IT & consumer electronics, automotive, power distribution, and rail transportation sectors. The automotive industry's adoption is being driven by rising demand for more efficient power management and new consumer safety features. For example, several EV applications, such as battery chargers, auxiliary DC-DC converters, and solid-state circuit breakers, have already begun to use SiC technology. Currently, more efficient drivetrains based on semiconductor technologies like as Silicon Carbide (SiC) allow engineers to meet high voltage and power needs in a cost-effective manner. As a result, such apps provide significant growth potential.

Power Semiconductor Market Challenges:
Supplier negotiating leverage is considerable because the power semiconductor and overall semiconductor sector is experiencing a shortage of produced chips and raw materials used to create these semiconductors. Because of the supplier's great negotiating strength, the whole product's margin cost rises, leaving very little room for the customer to negotiate, posing a challenge to market expansion owing to pricing obstacles.

Covid-19 Impact on the Power Semiconductor Market:
Due to increased end-user demand and technical improvements in many areas of the world, the power semiconductor market developed considerably in numerous emerging nations in 2018. During the 2018-2019 period, the incorporation of cutting-edge technologies into consumer electronics, such as smartwatches, smartphones, and Internet of Things (IoT) devices, to function as small electronic gadgets and to enable simple access to technology, had a positive impact on the growth of the power semiconductor industry prior to the outbreak of COVID-19.

COVID-19 has had a significant impact on the fundamentals of the power semiconductor market, including consumer behaviour, company revenues, and corporate operations. The future prospects of many enterprises are questionable, and many small-cap companies did not survive the epidemic. According to the global trend, most power semiconductor categories had year-on-year sales and profit declines in 2020. However, given the starting point for 2020 was far lower than in prior years, the situation is expected to improve as most end markets recover. Because of potential government interventions and other variables, it is impossible to determine how beneficial different recovery scenarios applied throughout the world are.

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Power Semiconductor Market Segmentation Analysis:
As per the research analysis, the global power semiconductor market is segmented by it's component, material, application and region.
By component
• Discrete
• Module
• Power integrated circuits
By Material
• Silicon (Si)
• Silicon Carbide (SiC)
• Gallium Nitride (GaN)
• IGBT and MOSFET
By Application
• Automotive
• Consumer Electronics
• Military, Aerospace and Industrial

Power Semiconductor Market Competitive Analysis:
The key companies are pursuing a variety of growth strategies, including product launches, novel technologies, acquisitions, and partnerships, which are all contributing to the global expansion of Power Semiconductor. Renesas Electronics Corporation, for example, spent JPY 90 billion in the Kofu Factory in Kai City on May 17, 2022, with the goal of reopening the fab in 2024 as a 300-mm wafer fab capable of manufacturing power semiconductors. Because of the increased need for power semiconductors, the business plans to boost new product development.

Power Semiconductor Market Major Companies:
Some key companies contributing to the market's growth include Infineon Technologies AG, STMicroelectronics , NXP Semiconductor, Renesas, Electronics Corporation, Qualcomm, Analog Devices, Texas Instruments, Mitsubishi Electric, Corporation and Toshiba Corporation.

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