According to a recent market research report added to the portfolio of MarketResearchReports.biz, the global market for power semiconductor has expanded at a promising pace over the years and continues to present a promising growth prospect over the period between 2017 and 2025.
Albany, NY -- (SBWIRE) -- 09/07/2018 -- Owing to rising demand from the renewable energy sector, the market is expected to exhibit a 5.1% CAGR over the said period, rising to a revenue opportunity of US$54,881.2 mn by 2025. The report is titled "Power Semiconductor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025."
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Of the factors that are expected to help the market expand at a healthy pace in the near future, the key ones include the rising production and global consumption of electric and hybrid electric vehicles and the corresponding rise in uptake of power semiconductor devices such as insulated gate bipolar transistor (IGBTs). The increased demand from the renewable energy industry, which has witnessed massive strides in terms of enabling technologies, improved materials, better power generation and storage technologies, and awareness among masses regarding the need to switch to renewables, has also proved to be a leading growth driver for the market. This is because power semiconductors are required for network interconnection and optimized power generation.
For presenting a much detailed account of the global power semiconductor market, the report segments it on the basis of criteria such as component, material, end-use, and geography. Based on component, the market has been segmented into power MOSFET (metal oxide semiconductor field effect transistor), diode, rectifiers, thyristors, and IGBT (insulated gate bipolar transistor). Based on materials, the report segments the global power semiconductor market into silicon carbide (SiC), silicon/germanium, and gallium nitride (GaN). Based on the key end-use sectors utilizing power semiconductors, the market has been examined for consumer electronics, automotive, telecommunication, industrial, healthcare, and aerospace, and defense.
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Geographically, the report covers the market for power semiconductors for regions such as Asia Pacific, North America, Europe, South America, and Middle East and Africa. Of these, the market in Asia Pacific is the leading contributor of revenue to the global market, thanks to it being one of the leading consumers as well exporters of power semiconductors across the globe. China alone contributes to a notable share in the Asia Pacific power semiconductor market owing to it being one of the world's largest exporters of power semiconductors. The country also has come to become the manufacturing hub for conventional and electric vehicles in the past few years and is likely to remain a leading consumer as well as exporter of power electronics in the near future as well.
Some of the leading companies operating in the global power semiconductor market includes Texas Instruments, Infineon Technologies AG, Fuji Electric Co. Ltd, ON Semiconductor, ST Microelectronics N.V., Semikron International GmbH, Mitsubishi Electric Group, and Toshiba Corporation.
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