Power Semiconductors Market, Global, 2024–2033

Power Semiconductors Market, Global, 2024–2033

Power Semiconductors are Experiencing Transformational Growth Due to Rapid Electrification Across Industries, the AI Boom, Growing Renewable Energy Demand, and Focus on Sustainability
Frost & Sullivan expects the global power semiconductors market to witness unprecedented growth during the next 10 years as industries look for energy-efficient and high-performance electronics. This analysis focuses on Si-, SiC- and GaN-based power discrete devices, modules, and GaN ICs, which are gaining prominence across end-user industries due to their characteristics supporting high voltage, switching frequency, and efficiency. The report analyzes power semiconductor growth potential in each end-user industry. As electric mobility, 5G deployments, data center expansion, and renewable electricity are gaining full steam, the study showcases how power semiconductors will support these Megatrends.

The study identifies key growth opportunities and which factors will boost or restrain market growth. Using 2023 as the base year, the report estimates the market size and future growth prospects up to 2033. It follows a specific methodology that includes discussions with senior management in the power semiconductor ecosystem supported by secondary research.

The study analyzes the market based on end user, material, component, device type, voltage ratings, and geography. It offers an in-depth analysis with segmentation by end users, including automotive, industrial, consumer electronics, communications & IT, and energy & utility. The segmentation by voltage ratings is less than 650 V, 650 V to 1700 V, and more than 1700 V. Segmentation by materials is silicon (Si), silicon carbide (SiC) and gallium nitride (GaN); and component type analysis is segmented by discrete semiconductors and modules.

The study offers a regional perspective of demand patterns in various advanced and emerging markets in 3 main regions: the Americas; Europe, Middle East, and Africa (EMEA), including Russia; and Asia-Pacific.

A few factors driving the power semiconductors market are rising green energy demand, the transition of eMobility from 400 V to 800 V battery systems, growth in generative AI and cloud networking, rapid adoption of wide bandgap (WBG) semiconductors, accelerated launch of electric vehicles, government initiatives and regulations, and the need for high-speed, power, performance, and efficiency in modern-day electronic devices. The study identifies relatively less technological maturity of WBG semiconductors, economic slowdown, global geopolitical chaos, lack of industry standards, high cost and crystal defects in WBG substrates, and the supply-demand imbalance as the primary power semiconductors market restraints.

Key Features

In addition, the study offers the following:

A dedicated chapter on the Indian power semiconductors landscape
Analysis of pricing trends in the power semiconductors market
In-depth analysis of each end-user sector and the opportunity for power semiconductors
Si, SiC, and GaN penetration in the global semiconductors landscape
Discussion of power semiconductor wafer size evolution
Comparison of WBG semiconductors with silicon
Key market trend analysis including the development of vertical GaN, the evolution of the transistor structure, the green hydrogen economy, and the emergence and potential of next-generation WBG technologies
Analysis of the SiC and GaN manufacturing value chain
10-year growth outlook across end-user industries and applications
M&A analysis in the power semiconductors ecosystem
Competitive analysis with market share of key players