India's rising Power Semiconductor Market consumer electronics consumption has aided in the expansion of the Asia-Pacific region. Asia-Pacific is a region that is quickly industrialising and going through strong economic expansion. In a number of industries, including manufacturing, chemicals, automotive, aerospace, and electronics, it has resulted in a significant concentration of manufacturing industries. In addition, industrial automation equipment and control instrumentation are widely produced in Asia-Pacific. The region's developing national defence industries are contributing to the rise in demand for power semiconductors. In the upcoming years, the Asia-Pacific power semiconductor market is expected to rise rapidly as a result of rising demand from important strategic industries.
The global power semiconductor market was worth USD 36.05 billion in 2020 and is poised to amplify with a CAGR of 2.37% over 2022-2030, thereby amassing a valuation of USD 43.3 billion by end of the assessment timeline.
A force In power electronics, a semiconductor device called a rectifier or switch is utilised (for example, in a switch-mode power supply). These gadgets are the essential part of contemporary power electronic circuits tools and equipment. These gadgets are utilised for broadband wireless approaches, advanced control of electric motors, motion control, and servo drives, advanced computer systems, and wireless communication, among other things. They are a crucial component of all electrical systems, machines, and appliances. The study covers materials like silicon carbide, gallium nitride, and others along with components like discrete modules and power integrated circuits.
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The segmentation based on component, material, application, and region is covered by the report's scope. Discrete, module, and power integrated circuits are the three product categories that make up the global market for power semiconductors. The silicon (Si), silicon carbide (SiC), gallium nitride (GaN), IGBT, and MOSFET product categories make up the material segments of the worldwide power semiconductor industry. The automotive, consumer electronics, military, aerospace, and industrial application segments make up the global market for power semiconductors. Region-wise, the market for power semiconductors is divided into North America, South America, Europe, Asia-Pacific, the Middle East, and Africa.
Discrete electronic components include transistors and diodes, which are separate semiconductors. Power transistors are a type of discrete device used in a variety of applications to control voltages, reduce power consumption, and lower heat generation. For example, circuits created to lengthen the battery life of portable electronics require certain essential components.
A set of power components, often power semiconductor devices, that are appropriately coupled internally to carry out a power conversion function makes up a power electronic module, also known as a power module. It's an integrated component that makes it possible to construct a power converter with fewer external parts. The control electronics in the power module package could include gate drivers, sensors, and safety features.
Integrated Circuits (ICs) for Power: Power integrated circuits (ICs) are used in high-voltage devices such power supply, cars, solar panels, and trains as a switch or rectifier. The ICs either allow electricity to flow or stop it depending on their "on" or "off" states. They boost system effectiveness.
Global Power Semiconductor Market- Key Trends
Rising demand for renewable energy sources to aid market expansion
There has been an escalating demand for sustainable energy sources across the globe. This is powered by the growing instances of fossil fuel depletion and increasing emission levels. Moreover, various governments have also taken favorable initiatives to promote the adoption of non-conventional energy resources such as solar and wind powers. The power semiconductor is one of the key components in electric equipment, which in turn is augmenting the outlook of this industry vertical.
Rapid industrialization is expected to boost industry growth
The major regions across the globe are undergoing a wave of industrialization powered by widespread economic developments. It is evident that most of the industries need continuous power supply to facilitate their overall operational process. These factors in turn are adding traction to the development of this business sphere.
Global Power Semiconductor Market- Segmental assessment:
By Component
- Discrete
- Module
- Power Integrated Circuits
By Material
- Silicon/Germanium
- Silicon Carbide (SiC)
- Gallium Nitride (GaN)
- The silicon carbide segment is expected to generate significant returns by 2030 owing to their energy efficient nature.
By End Use
- Automotive
- Consumer Electronics
- Industrial
- Power and Energy
- IT and Telecommunication
- Military and Aerospace
- Others
- The automotive segment is poised to amass notable gains over estimated timeframe due to the rising adoption of electric vehicles across the globe.
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