The Latin America, Middle East and Africa Power Semiconductor Market would witness market growth of 6.8% CAGR during the forecast period (2023-2030).In the year 2026, the LAMEA market's volume is expected to surge to 71.8 million units, showcasing a growth of 9.0% (2023-2030).
Power semiconductor adoption is being fuelled by an increase in the installation of solar photovoltaic panels for energy generation, fuelled by the growing demand for environmentally acceptable technology and government incentives. In addition, the fast uptake of electric cars drive demand for power electronics modules across various industries.
Over the upcoming years, demand is anticipated to grow quickly, leading to technological advancements and investments in manufacturing capacity. Power devices may be discrete, in power modules, or integrated into IC capabilities, and they are used in various applications. It comprises home appliances, trains, UPS systems, wind turbines, photovoltaic (PV) installations, industrial motor drives, and UPS systems.
Power semiconductors are essential to electronic circuit machines that transform energy in various phases. Broadband wireless technologies, satellite systems, computer systems, improved electric motor control, antennas, and wireless communication all use these devices extensively. Power semiconductors are an essential component of electrical equipment, machinery, and systems and are mostly employed in applications requiring damage-free conversion of high voltages and currents. Power semiconductors provide faster dynamic response, lower installation cost, and minimized heat dissipation compared to electro-mechanical converter systems. As a result, they are frequently utilized in various industries, including telecommunications, consumer electronics, the military, aerospace, and automobiles.
Even though the UAE has a superior standard of living than anywhere else, it has the highest population density. Moreover, Dubai does not tax its citizens’ income. Consequently, the UAE’s demand for luxury products, particularly automobiles, is increasing. It is conceivable that the swiftly rising demand for luxury vehicles in the region is a consequence of higher consumer per capita income, improved road conditions, as well as advantageous tax legislation. With the growing automotive industry, the demand for power semiconductor will rise as they help in fuel efficiency and provide safety.
The Brazil market dominated the LAMEA Power Semiconductor Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $946 million by 2030. The Argentina market is showcasing a CAGR of 7.4% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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 (Volume, Million Units, USD Million, 2019-2030)
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