Global Power Semiconductor Market: Snapshot
The global power semiconductor market is likely to witness steady growth on the back of introduction of fifth-generation (5G) mobile communication. 5G mobile communication is anticipated to be launched in 2018; the number of 5G mobile base stations is likely to be more than 4G base stations.
The heavy consumption of power semiconductors across several end use industries such as industrial, automotive, consumer electronics, and renewable energy among others is a key growth driver of power semiconductor market. The increasing popularity of electric vehicles, hybrid vehicles, and plug-in electric vehicles accounts for significant growth of automotive electronics.
As per a report by Transparency Market Research (TMR), the global power semiconductor market will clock 5.1% CAGR over the forecast period between 2017 and 2025. At this rate, the market will become worth US$54,881.2 mn by the end of 2025.
Purchase our Premium Research Report At:https://www.transparencymarketresearch.com/checkout.php?rep_id=35108<ype=S
Automotive Electronics to Remain Attractive
The report studies the global power semiconductor market on the basis of component, material, end-use, and geography. Based on component, the market has been categorized into power MOSFET (metal oxide semiconductor field effect transistor), thyristors, rectifiers, IGBT (insulated gate bipolar transistor), and diode. In terms of material, the power semiconductor market is bifurcatred into silicon/germanium, SiC, and GaN.
On the basis of end use, the market is classified into automotive, industrial, telecommunication, consumer electronics, aerospace & defense, healthcare, and others. Among these, automotive electronics accounts for significant consumption of power semiconductors. The number of semiconductors in vehicles have surged with the rising adoption of electric vehicles, plug-in electric vehicles, and hybrid electric vehicles. Further, the advent of drive-by-wire or x-by-wire technologies have led to a rise in number of electric content in vehicles over mechanical vehicle parts. This helps reduce vehicle weight which is directly related to improve fuel efficiency and reduce vehicular emission.
Get More Press Releases by TMR: https://www.prnewswire.com/news-releases/urbanization-fueled-freight-transportation-to-absorb-sizable-demand-in-fifth-wheel-coupling-market-valuation-to-reach-upward-of-us-500-mn-by-2027-tmr-301326974.html
Telecommunications is also a significant end-user of power semiconductors. The segment displays demand for RF power amplifiers and IGBTs among others. With the anticipated launch of 5G in 2018 across the world, the demand for power semiconductors is likely to receive a boost.
Driven by China, Asia Pacific to Report Strong Growth
Geographically, the report studies the global power semiconductor market with respect to North America, Asia Pacific, Europe, the Middle East and Africa, and South America. Currently, Asia Pacific accounts for the leading consumption of power semiconductors among other key regions; the region also accounts as one of the leading exporters of power semiconductors in the world. The growth in the region is mainly attributed to China, which is a leading automotive and passenger vehicle market in the world. China is currently the leading consumer of power semiconductors; going forward, China is forecast to account as a leading exporter of power semiconductors over the forecast period. This is mainly because China is the world’s leading automotive market and leading producer of electric vehicles across the world.
Furthermore, demand for power semiconductors is increasing from renewable energy sectors in the region. For instance, solar and wind energy is used for power needs in consumer electronics, telecommunication, automotive, data communications, medical, etc.
Europe accounts as a leading consumer of power semiconductors among others in the global market. Germany is one of the leading domestic markets for power semiconductors in the region. France is another key domestic market for power semiconductors; telecommunication is a key end use segment for power semiconductor in France.
Leading players in the global power semiconductor market include Infineon Technologies AG, Texas Instruments, ON Semiconductor, Fuji Electric Co. Ltd., ST Microelectronics N.V., Mitsubishi Electric Group, Semikron International GmbH, and Toshiba Corporation.
Rising Demand for Environment- friendly Vehicles Promotes Expansion of Power Semiconductor Market
Power semiconductor device refers to a semiconductor device utilized as a rectifier or switch in power electronics. These devices are widely used in many end-use industries including industrial, automotive, consumer electronics, telecommunication, healthcare, and aerospace and defense. Owing to this broad end-use application, the vendors working in the global power semiconductor market are expected to gain prodigious expansion avenues in the forthcoming years.
Generally, power semiconductor devices are used in commutation mode. So, there design is optimized for such type of use. Power semiconductors are widely used in systems delivering as tiny as a few tens of milliwatts required for a headphone amplifiers, up to approximately a gigawatt in a high voltage direct current transmission line.
In recent few years, major populace across the globe is growing preference toward the use of plug-in electric vehicles, hybrid electric vehicles, and electric vehicles. As a result, there is extensive growth in the use of semiconductors in the automotive electronics industry. This scenario is creating prodigious expansion avenues in the global power semiconductor market.
The emergence of x-by-wire or drive-by-wire technologies has resulted into an increased number of electric content in vehicles instead of mechanical vehicle parts. The main reason behind this shift is the ability of electric content to assist in decreasing the vehicle weight, which can be directly associated with reducing vehicular emission and advancing fuel efficiency. Owing to this factor, the global power semiconductor market is slated to grow at promising pace in the years ahead.
The novel COVID-19 epidemic has resulted into negative growth curve of many industrial sectors including the global power semiconductor market. Many enterprises in the market for power semiconductor are experiencing sudden decline in demand and sales, and thereby dropped revenues. Thus, industry leaders are growing focus toward strategizing their business moves to come out of this critical situation. Several enterprises have started their production activities while following all government safety norms related to COVID-19. This scenario depicts that the global power semiconductor market will soon recover from this critical situation and gain promising growth opportunities in the years ahead.
TMR’s market research report on the semiconductors industry covers the expanse of technological innovations and novel applications that are setting trends in the said industry. The evolution of the telecommunications sector, mainly the development of 4G and 5G networks, which has deeply influenced demand in the semiconductors industry is well covered for a fitting analysis of growth trajectories of the latter in the coming years. For industrial operations, the demand analysis of super semiconductors that are compatible with highly complex ICs to support Industry 4.0 is a highlight of our reports.
TMR is a leader in the market research space providing end-to-end business solutions and consulting services. TMR operates from its own office space of almost 10,000 sq. ft located in a prime commercial complex at Pune. We serve clients in 150 countries with an approach to deep dive into the economic aspects and geographical nuances for unfailing business intelligence.
Transparency Market Research
90 State Street, Suite 700,
Albany NY – 12207,
Tel: +1-518-618-1030 Email: firstname.lastname@example.org