According to a new report, published by KBV research, The Global Power Semiconductor Market size is expected to reach $67 billion by 2030, rising at a market growth of 4.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,233.6 million units, experiencing a growth of 2.7% (2019-2022).
The IGBT segment is registering a CAGR of 4.4% during (2023 - 2030). IGBTs are frequently utilized as switching components in inverter circuits (for converting DC to AC) to drive small- to large-scale motors. IGBTs for inverter uses are used in industrial motors, automobile main motor controllers, and residential appliances like refrigerators and air conditioners to increase efficiency. IGBTs are frequently utilized because they have high resonance voltages or currents. Microwave ovens, induction rice cookers, and induction cookers are examples of IGBT applications.
The IT & Telecom segment is leading the Global Power Semiconductor Market by Application in 2022; thereby, achieving a market value of $13.8 billion by 2030. There is widespread use of power semiconductors in various important applications in the IT and telecom sectors. Power semiconductors are widely employed in base stations, space applications, optical systems, satellite communication, radar systems, and wireless applications to facilitate effective power management and signal amplification.
The GaN segment would showcase a CAGR of 5.1% during (2023 - 2030). GaN has increasingly become a viable semiconductor option for forthcoming power electronic converters because of its beneficial characteristics, including a wide band gap and the potential to construct heterostructures. GaN power devices have previously surpassed their silicon parallels, even though they are still in the early stages of development.
The Asia Pacific region dominated the Global Power Semiconductor Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $29.3 billion by 2030. The Europe market is poised to grow at a CAGR of 4.4% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 4.2% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/power-semiconductor-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography (Volume, Million Units, USD Million, 2019-2030)
Companies Profiled
Unique Offerings 
