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Power Semiconductor Market Size to Reach USD 134.5 Billion by 2035 Driven by Electrification & Energy Efficiency Demand

01-22-2026 02:05 PM CET | Media & Telecommunications

Press release from: market research future

Power Semiconductor Market Size to Reach USD 134.5 Billion

The Power Semiconductor Market is witnessing consistent expansion due to the rising demand for efficient power management solutions across automotive, industrial, consumer electronics, renewable energy, and data center applications. Power semiconductors play a critical role in voltage regulation, power conversion, and energy efficiency, making them indispensable in modern electronic systems. The market was valued at USD 69.4 Billion in 2024 and is projected to grow from USD 73.7 Billion in 2025 to USD 134.5 Billion by 2035, registering a compound annual growth rate (CAGR) of 6.2% during the forecast period 2025-2035. Increasing electrification, adoption of electric vehicles, and expansion of renewable energy infrastructure are key growth drivers.

Competitive Landscape

Major players in the Power Semiconductor Market focus on advanced materials, wide-bandgap semiconductors, and high-efficiency power devices to strengthen their competitive positioning:

• Infineon Technologies (DE)
• Texas Instruments (US)
• ON Semiconductor (US)
• STMicroelectronics (FR)
• NXP Semiconductors (NL)
• Mitsubishi Electric (JP)
• Renesas Electronics (JP)
• Vishay Intertechnology (US)
• Broadcom Inc. (US)

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Key Market Drivers

• Rising adoption of electric vehicles and hybrid electric vehicles
• Growing demand for energy-efficient power management systems
• Expansion of renewable energy generation and smart grids
• Increasing use of power electronics in industrial automation
• Rapid growth of consumer electronics and data centers

Key Market Opportunities

• Increasing deployment of wide-bandgap semiconductors such as SiC and GaN
• Growing investments in EV charging infrastructure
• Expansion of power semiconductors in aerospace and defense applications
• Rising demand for compact and high-power-density devices
• Strong growth potential in emerging economies

Market Trends & Dynamics

• Shift toward silicon carbide (SiC) and gallium nitride (GaN) technologies
• Increasing focus on thermal management and power efficiency
• Integration of power semiconductors with AI and IoT-enabled systems
• Rising demand for high-voltage and high-frequency devices
• Emphasis on sustainability and reduced power losses

Browse In-depth Market Research Report ➤ https://www.marketresearchfuture.com/reports/power-semiconductor-market-1178

Market Segmentation

By Device Type:

• Power Discrete Devices
• Power Modules
• Power Integrated Circuits

By Material:

• Silicon
• Silicon Carbide (SiC)
• Gallium Nitride (GaN)

By Application:

• Automotive
• Consumer Electronics
• Industrial
• Energy & Power
• IT & Telecommunications

By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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Regional Insights

• Asia Pacific: Dominates the market due to strong manufacturing base and EV adoption

• North America: Growth driven by renewable energy projects and data center expansion

• Europe: Increasing investments in electric mobility and energy-efficient technologies
• South America & MEA: Steady growth supported by industrial development and energy infrastructure

Future Outlook

The Power Semiconductor Market is expected to maintain steady growth through 2035, supported by electrification trends, renewable energy expansion, and advancements in semiconductor materials. With a projected CAGR of 6.2%, innovations in SiC and GaN technologies will significantly shape the future of power electronics.

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About US

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Contact:

Market Research Future
99 Hudson Street, 5th Floor
New York, New York 10013
United States of America
Sales: +1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com

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