The Asia Pacific Power Semiconductor Market would witness market growth of 4.8% CAGR during the forecast period (2023-2030).In the year 2021, the Asia Pacific market's volume surged to 519.6 million units, showcasing a growth of 2.8% (2019-2022).
Power semiconductors' capacity to manage high power levels without experiencing excessive energy losses significantly impacts their efficiency and performance. This necessitates that they have high voltage ratings, quick switching speeds, and minimal on resistance. Furthermore, wide-band gap semiconductors like silicon carbide (SiC) and gallium nitride (GaN) have begun to appear due to developments in power semiconductor technology. Compared to conventional silicon-based power semiconductors, these materials offer improved electrical features, such as greater breakdown voltages, faster switching rates, and fewer losses.
Power conversion efficiency, device reduction, and system performance have considerably increased due to the ongoing development of power semiconductors. These developments have helped energy-efficient devices, electric vehicles, and renewable energy sources in becoming more widely used. Power semiconductors have aided in creating smart grids and microgrids, enabling effective energy management and distribution.
Power semiconductor devices are essential to contemporary electrical systems that enable effective power conversion, management, and control. They are available in various forms, including diodes, transistors, thyristors, and IGBTs, each with unique properties suitable for various applications. Power electronics have significantly improved due to the ongoing advances in power semiconductor technology, particularly wide-bandgap materials. These developments paved the way for an environmentally friendly and energy-efficient future. GaN semiconductors, which offer improved efficiency and power capabilities compared to conventional semiconductor materials, have been developed due to quick technological advances.
Several local governments are also putting much effort into promoting renewable energy sources. Given that power electronics have a wide range of applications in the energy industry, this is expected to boost the market for these products. For instance, to reach its goal of 500 GW of clean energy by 2030, the Indian government announced plans in April 2023 to install 250 GW of renewable energy capacity during the ensuing five years. Due to these initiatives, the demand for power semiconductors is anticipated to rise.
The China market dominated the Asia Pacific Power Semiconductor Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $8,425.2 million by 2030. The Japan market is registering a CAGR of 4.1% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 5.4% during (2023 - 2030).
Based on Product, the market is segmented into Power MOSFET, IGBT, Thyristor, Power Diode, and Others. Based on Application, the market is segmented into IT & Telecom, Aerospace & Defense, Industrial, Automotive, Electronics, Energy & Power, Healthcare, and Others. Based on Material, the market is segmented into SiC, GaN, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Power Semiconductor Market is Projected to reach USD 67 Billion by 2030, at a CAGR of 4.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Infineon Technologies AG. Texas Instruments Inc., STMicroelectronics N.V., NXP Semiconductors N.V., ON Semiconductor Corporation, Mitsubishi Electric Corporation, Renesas Electronics Corporation, Toshiba Corporation, Fuji Electric Co., Ltd. and Hitachi, Ltd.
By Product (Volume, Million Units, USD Million, 2019-2030)
By Application (Volume, Million Units, USD Million, 2019-2030)
By Material (Volume, Million Units, USD Million, 2019-2030)
By Country
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