Power MOSFETs in electric vehicles enhance energy efficiency and performance. With the EV market expanding, demand for MOSFETs is set to soar.
NEWARK, Del, Oct. 03, 2023 (GLOBE NEWSWIRE) — The global power MOSFET market is on the brink of a substantial valuation, projected to reach US$ 24,700 million by 2023. The growth is primarily driven by the burgeoning interest and insights surrounding the power MOSFET market. The trend is expected to open doors to new opportunities within the market, with a projected CAGR of 9.3% from 2023 to 2033. By 2033, the market is poised to soar to an estimated total valuation of around US$ 60,100 million.
Power MOSFET stands as a formidable force, a versatile electrical component that wields the power to command loads at will. Beyond its inherent capabilities, this semiconductor superhero emerges as a cost-effective alternative to its predecessor, the bipolar junction transistor (BJT).
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The power MOSFET market is on the verge of experiencing substantial growth during the forecast period, driven by several pivotal factors. A primary driver stems from favorable government initiatives linked to environmental regulations. The initiatives are strategically crafted to incentivize the adoption of energy-efficient devices, aligning with the overarching objective of curbing harmful compound emissions and fostering a sustainable environment.
The escalating demand for energy-efficient devices in compliance with stringent environmental safety regulations emerges as a noteworthy growth catalyst for the power MOSFET market. The imperative of reducing environmental footprints has triggered a surge in the embrace of power-efficient components, including power MOSFETs, across diverse industry domains.
The market’s expansion is propelled by the pervasive trend of miniaturization in electronic devices. Power MOSFETs are indispensable components in compact electronic devices where spatial efficiency is paramount.
The relentless pursuit of small form factors without compromising performance has naturally engendered a heightened reliance on power MOSFETs. This pervasive trend is poised to furnish the market with substantial growth avenues, particularly as industries continue to innovate, forging space-efficient product offerings.
Investments directed toward research and development initiatives will be an additional catalyst for market growth. Market participants are ardently committed to augmenting the capabilities of power MOSFETs through persistent innovation, culminating in heightened efficiency and performance. The strategic allocation of resources to research and development endeavors stands as a linchpin in shaping the future trajectory of the power MOSFET market.
Key Takeaways from the Market Study
- The market valuation in 2022 was US$ 23,400 million.
- Based on power rate, low power types are expected to dominate at a market share of 63.4% by 2033.
- Based on application type, automotive will likely register a market share of 77.9% by 2033.
- Based on type, enhancement mode estimates a market share of 33.5% by 2033.
- The power MOSFET market size expanded at 3.45% CAGR between 2018 and 2022.
- Asia Pacific is estimated to reach a market share of 28.3% in 2023.
- North America registered a value share of 18.3% in 2023.
“Investments in the development of hydrogen fueling infrastructure is considered one of the key drivers of the power MOSFET market” opines Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.
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The power MOSFET industry boasts leading market participants. Research and development play a pivotal role among these players, primarily focusing on the introduction of eco-friendly product lines as a core aspect of their manufacturing endeavors. Furthermore, they employ various expansion strategies, including collaborations, mergers and acquisitions, and diligent exploration of regulatory approvals to bolster their market presence. Some of the latest developments in the market are discussed below.
- In September 2023, NXP Semiconductors N.V., announced that it is strengthening its European research and development through grants. It is provided via the 2nd Important Project of Common European Interest on Microelectronics and Communication Technologies (IPCEI ME/CT), with the final investment decision pending confirmation of the level of public funding.
- In September 2023, NXP Semiconductors NV secured approval for a US$ 1 million incentives package from the city of Austin, opening the door for potentially more federal support as the chipmaker looks to update equipment in Austin.
Top Key Player in the Global Market
- Renesas Electronics Corporation
- NXP Semiconductors
- Texas Instruments
- Fairchild Semiconductors
- Microchip Technology Inc.
- Infineon Technologies AG
- Toshiba Corp.
- Vishay Siliconix
- Power Integration Inc.
- Digi-key Electronics
- Mitsubishi Electric Corp.
- IXYS Corporation
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global power MOSFET market providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities, the power MOSFET market is segmented based on major By Type: (Depletion Mode, Enhancement Mode) By Power Rate: (High Power, Medium Power, Low Power), By Application: (Energy and Power, Automotive, Consumer Electronics, Power Electronics, Others), and by region: (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding China & Japan, Japan, China, Middle East & Africa)
About the Technology Division at Future Market Insights
The technology team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management in consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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