The Growth of Power MOSFET Market Driven by Increasing Application of Electronics
Author : Leena Shedmake | Published On : 16 Apr 2024
The power MOSFET market has been gaining significant traction owing to the rising use of electronic gadgets and surge in demand for energy efficient devices. Power MOSFETs are extensively used in most power supply applications including computers, telecommunication equipment, industrial motor drives and consumer electronics due to their low on-resistance, high commutation speed and straightforward drive requirements. The global power of power MOSFET is estimated to be valued at US$ 9.29 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period from 2024 to 2031.
The increasing penetration of consumer electronics such as smartphones, laptops, wearables and home appliances has been a key driver for the power MOSFET market. Power MOSFETs deliver enhanced efficiency, fast switching speeds and smaller footprints, making them ideal for various power electronics applications. Moreover, stringent regulations regarding energy usage and rising focus on adopting green technologies have further stimulated the demand for power efficient MOSFETs. The growing requirement for renewable energy solutions along with expansion of electric vehicle industry will continue to open new avenues for market players over the coming years.
Key Takeaways
Key players operating in the Power MOSFET Market Demand are Dow Inc. (US), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (US), Shin-Etsu Chemical Co., Ltd (Japan), China National Bluestar (Group) Co., (China), Reiss Manufacturing Inc. (US), and CHT Germany GmbH (Germany). These leading companies account for over 50% of the total market share and are engaged in new product launches and expansion activities to solidify their foothold.
The power MOSFET market provides multiple opportunities for players in the form of design innovations for advanced applications, development of wide bandgap materials with higher breakdown voltage, current and operating temperature. Moreover, the rising adoption of electric vehicles worldwide has increased the focus on reliable and efficient power modules, thus driving collaborative efforts between automotive OEMs and power semiconductor manufacturers.
Key players are focusing on global expansion plans especially in developing Asian and European countries to leverage growth opportunities. Strategic partnerships and joint ventures are helping companies penetrate untapped regional power semiconductor markets and distribute products through respective sales and distribution channels.
Market Drivers:
1) Increasing demand for consumer electronics and Smart home devices: The surge in usage of smartphones, laptops, smart TVs, wearables and other household appliances has been a major factor propelling the power MOSFET market. These devices require MOSFETs for efficient power management and optimizing battery performance. (150 words)
Market Restrain:
1) High manufacturing cost: The production of power MOSFET involves complex fabrication process and requires advanced semiconductor manufacturing facilities which increases the overall cost. This high initial investment poses a major challenge especially for emerging and cost-sensitive regional markets. (150 words)
Segment Analysis
The automotive sub-segment is currently dominating the power MOSFET market due to rising adoption of electric vehicles. Power MOSFETs are extensively used in electric vehicles for applications such as battery protection, motor control, DC-DC converters, and on-board chargers. They help improve the overall efficiency and performance of electric vehicles. The industrial sub-segment is also growing rapidly on account of wide utilization of power MOSFETs in industrial automation processes, motor drives, welding machines, and consumer electronics. They offer benefits such as low conduction losses, fast switching speeds and high efficiency.
Global Analysis
The Asia Pacific region is presently the fastest growing as well as the largest market for power MOSFETs. This can be primarily attributed to extensive manufacturing of consumer electronics and automotive components in countries such as China, India, Japan, and South Korea. Rapid industrialization and increasing electrification in industrial sectors across the Asia Pacific are boosting the demand for power MOSFETs in the region. Europe is another major market owing to large presence of advanced automotive manufacturers. Meanwhile, North America is expected to witness considerable growth over the forecast period due to growing adoption of renewable energy and rising investments in electric vehicle infrastructure development.
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