Press release
Power Semiconductor Market to Reach USD 51.83 Billion by 2030, Growing at a Steady CAGR of 3.18%
Power Semiconductor Market
The global power semiconductor market is poised for significant growth, projected to expand from USD 41.63 billion in 2023 to nearly USD 51.83 billion by 2030, at a compound annual growth rate (CAGR) of 3.18% . This surge is fueled by the escalating demand for electric vehicles (EVs), renewable energy solutions, and advanced consumer electronics.
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◉ Vietnam: Strategic Opportunities in Power Semiconductor Expansion
Vietnam is emerging as a pivotal player in the global semiconductor landscape. The nation is actively encouraging South Korean businesses to expand operations in sectors including semiconductors, aiming to raise bilateral trade to $150 billion by 2030 . Additionally, the U.S. is seeking to strengthen ties with Vietnam to reduce dependence on China for key tech components, particularly semiconductors .
◉ Thailand: Growth Prospects Amidst Global Trade Shifts
Thailand is strategically positioning itself to attract semiconductor investments amid renewed U.S.-China trade tensions. The country is drafting a strategic plan for its semiconductor sector, aiming to attract investment and has seen a 35% jump in the value of inbound investment applications last year .
◉ Japan: Consolidation Through Strategic Partnerships
Japan is reinforcing its semiconductor industry through significant collaborations. The Japan Advanced Semiconductor Manufacturing (JASM), a joint venture between TSMC, Sony Semiconductor Solutions, Denso, and Toyota, has established a $23 billion semiconductor factory in Kumamoto . Additionally, Rapidus, backed by eight major Japanese companies, aims to establish advanced semiconductor manufacturing capacity with a 2 nm process by 2027 .
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◉ South Korea: Updation and Expansion in Semiconductor Sector
South Korea is amplifying its support for the semiconductor industry, announcing an expansion of its financial support package to 33 trillion won (approximately $23 billion) . The country continues to be a global leader in memory chip production, accounting for 60.5% of the global memory semiconductor market .
◉ Singapore: Trends in Semiconductor Innovation
Singapore continues to be a significant player in the semiconductor industry, contributing to the Asia-Pacific region's dominance in the global market. The country is part of the region that controls approximately 65% of the global discrete semiconductor market .
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◉ United States: Opportunities in Semiconductor Advancements
The United States is witnessing substantial investments in the semiconductor sector. Renesas Electronics completed the acquisition of Transphorm, an American semiconductor company specializing in gallium nitride (GaN) power transistors, enhancing its portfolio in power electronics .
◉ Europe: Growth in Semiconductor Manufacturing
Europe is experiencing growth in the semiconductor sector, with companies like Infineon Technologies investing in new facilities. In 2018, Infineon Technologies announced an investment in a 300mm chip factory in Austria, aiming to boost its production capabilities .
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◉ Power Semiconductor Market Segmentation:
by Component
Power MOSFET
Rectifiers
Thyristors
IGBT
Diode
by Material
Silicon Carbide (SiC)
Silicon/ Germanium
Gallium Nitride (GaN)
by Module
Power Modules
Power Discrete
by End-Use
Telecommunication
Aerospace & Defense
Healthcare
Automotive
Industrial
Consumer Electronics
Others
◉ Power Semiconductor Market Key Players
1. Semikron International GmbH
2. Fuji Electric Co., Ltd.
3. Mitsubishi Electric Group
4. Texas Instruments
5.Infineon Technologies AG
6. ST Microelectronics N.V.
7. Toshiba Corporation
8. ABB Ltd
9. Qualcomm Inc.
10. NXP Semiconductor
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