Power semiconductors are electronic components used to control and convert electrical power efficiently in various devices and systems. They are widely used in various electronic devices, though mainly to manage high currents and/or high voltages in electronic circuits, such as electric vehicles, renewable energy systems, consumer electronics, telecommunications, industrial applications, data centers, and many more.
Considering the accelerated growth of all of those industries, Straits Research predicts that the power semiconductor market will grow to $55 billion by 2030, up from $40 billion it reached in 2020. It’s not surprising, as power conductors are everywhere. For instance, they are in your smartphone, but the charger and the wireless telecommunication infrastructure are necessary to connect you online.
Recently, there have also been developments in the power semiconductor sector, with new wide-bandgap semiconductor materials, like SiC and GaN, providing much higher power density and increased efficiency. As a result of these advancements, electronic devices can be made smaller while outputting ever higher power. Notably, a GaN smartphone charger can be 60% smaller than a silicon-based one while providing higher charging speeds.
However, many more industries will require power semiconductors that provide enhanced power management. Think of more efficient electric powertrains that work on higher voltages, like the most recent 800-volt architectures of modern EVs. These more advanced semiconductors are crucial in providing EVs with longer ranges and higher charging speeds, which are crucial in their market success.
Of the markets currently dominating power semiconductor production, according to the predictions, the Asia-Pacific region will continue to dominate the industry, with China, Japan, Taiwan, and South Korea owning 65% of the global market. Even so, India is seen as a country with a big uptick in semiconductor production. It’s thanks to the country government’s “Make in India” initiative, which made the country more attractive for multinational research and development centers. Meanwhile, North America and Europe are seen as areas that play crucial roles in advancing semiconductor technology.
