Global power semiconductor market will clock 5.1% CAGR over the forecast period between 2017 and 2025. At this rate, the market will become worth US$54,881.2 mn by the end of 2025.
Albany, NY -- (SBWIRE) -- 01/03/2018 -- Worldwide demand for semiconductors has been growing over the past several years, and experts predict that it will see a continuation of that trend. Recently, a study has been prepared on the global demand for power semiconductors. According to this study, the heavy consumption of power semiconductors across several end-use industries such as industrial, automotive, consumer electronics, and renewable energy among others is a key growth driver of power semiconductor market. Market Research Hub (MRH) has publicized this new report to its wide repository, which is titled as "Power Semiconductor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025". According to the research estimations, the global power semiconductor market will clock 5.1% CAGR over the forecast period between 2017 and 2025. At this rate, the market will become worth US$54,881.2 mn by the end of 2025.
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This research study provides a comprehensive and exhaustive analysis of the market growth throughout the above forecasted period in terms of revenue estimates (in US$ Mn), across various geographies. Major regions highlighted in the study are North America, Europe, Asia-Pacific, Middle East and Africa (MEA) and South America. Further, the report covers the global power semiconductor market counting drivers, restraints and opportunities anticipated to influence in the market during the said period. Global and regional factors and trends playing a significant role in the global power semiconductor market has also been covered in the study.
Key Insights from the Report
Power semiconductors can knob high voltages and large currents. They hold a structure that is different from regular semiconductors, enabling them to handle high voltages and large currents without damage. Power semiconductors are mostly used in power conversion such as in changing voltages and frequencies, as well as changing DC to AC and AC to DC. Presently, rising demand for renewable energy such as wind, solar and hydroelectricity are subsequently increasing the demand for power semiconductor devices.
Among the key growth drivers, the introduction of fifth-generation (5G) mobile communication worldwide is a key factor driving the global power semiconductor market. Silicon Carbide (SiC), GaN (Gallium Nitride), GaAs (Gallium Arsanide) are some of the key compounds that are used in the manufacture of power semiconductors for 5G mobile communication
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On the basis of end-use, analysts find that automotive electronics accounts for high consumption of semiconductors. With the rise in electric vehicles, hybrid electric vehicles, and plug-in electric vehicles, deployment of semiconductors in cars has increased manifold.
From a geographical standpoint, the study finds that Asia Pacific accounts for the leading consumption of power semiconductors among other key regions. This is mainly attributed to China, which is the world's leading automotive market and leading producer of electric vehicles across the world.
Further, the study outlines major players functioning in the global power semiconductor market includes ON Semiconductor, Semikron International GmbH Infineon Technologies AG, Texas Instruments, Fuji Electric Co. Ltd, ST Microelectronics N.V., Mitsubishi Electric Group and Toshiba Corporation.
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