POWER MOSFET MARKET ANALYSIS

The global power MOSFET market size was valued at US$ 7.55 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030.  Rapid technological advancements, increased efficiency, and small size of electronic components are expected to drive growth of the global power MOSFET market over the forecast period. In addition, the power MOSFET market is expanding because of favorable industrial regulations in regions such as China and India. 

Global Power MOSFET Market: Regional Insights

North America is anticipated to show significant growth in the global power MOSFET market over the forecast period. This is due to rise in disposable income of the population across the region driving the sales of power MOSFET devices. Moreover, due to developments in power & energy industry, advanced technologies are increasingly being adopted, which in turn is anticipated to drive growth of the market in the region. Along with this, prominent companies in the market are adopting merger and acquisition growth strategies, which is also expected to boost the market growth in North America.

Asia Pacific is anticipated to gain promising growth in the global power MOSFET market over the forecast period, owing to increasing importance of power MOSFET devices among organizations for ensuring efficient working conditions. Moreover, high demand for automated switching devices as well as power modules, is also expected to drive growth of the global power MOSFET market in Asia Pacific region.

Figure 1: Global Power MOSFET Market Share (%), By Region, 2022

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Global Power MOSFET Market Drivers:

Growing dependence on electrical machinery and equipment to drive growth of the market

Today’s machines are very compact, efficient, and versatile in performing their tasks, and these machines have taken over many activities that were performed manually. In recent years, the demand for such machines and electronic equipment has increased significantly. Most of the today’s machinery make use of power MOSFETs for managing power in solar and wind installations. Thus, the demand for this technology is increasing, with growing dependence on electrical machinery. This factor is therefore expected to accelerate growth of the global power MOSFET market over the forecast period.

Increasing importance of power saving to fuel the market growth

Getting electricity is becoming challenging, as there is a significant deplete in fossil fuels. Consequently, the importance of conserving energy is growing all over the world. MOSFETs are switching devices that are utilized to control applications such as inverter, electric vehicle, and power supplies. The use of MOSFET is widespread across industrial applications that involve low switching frequency. The rise in emphasis on power saving as well as growing use of renewable energy is opening doors for the market. Thus, this factor is expected to propel growth of the global power MOSFET market over the forecast period.

Global Power MOSFET Market Opportunities:

Increasing technological development in power MOSFET is expected to bring multiple growth opportunities in the global power MOSFET market over the forecast period. Today’s electronics consist several features to grow their sales and offer comfort to users. The electronic components, such as smartphones, computers, cloud systems, and wireless communication are witnessing technological improvements. Moreover, other improvements are enhancement in safety parameters for the consumers. These factors are in turn offering growth opportunities in the global power MOSFET market.

Growing applications of power MOSFET to bring business opportunities in the global power MOSFET market over the forecast period. The use of power MOSFET transistors has increased in solar, lighting, DC-DC converter, onboard charger, and EV charging. With increasing demand for hybrid and electric vehicles around the world, the demand for power MOSFET transistors is likely to growth. This in turn is expected to generate growth opportunities in the market.

Global Power MOSFET Market Trends:

Growth of automotive sector is a recent trend in the market

The demand for electric vehicles is increasing globally, the use of power MOSFET devices is thus growing to offer enhanced safety to drivers. The use of MOSFET transistors enhances the connectivity driving and safety innovations in drivers. This in turn is expected to drive the demand for power MOSFET technology, which is further likely to boost the market growth in the coming years.

Emergence of advanced technology such as IoT, and AI is another trend in the market

Due to emergence of IoT and AI, a new generation of semiconductor innovations is emerging. Semiconductor chips manufacturers are addressing the demands of both IoT and AI. Moreover, 5G networks are increasingly being deployed in correspondence with a growing need for high-performance, faster computing systems. As a result, the need for power MOSFET technology is increasing rapidly. Thus, this trend is expected to boost growth of the global market in the coming years.

Global Power MOSFET Market Restraints:

Limitations in operations of power MOSFET systems to hinder the market growth

Power MOSFET systems face limitations such breakdowns, owing to drain to source voltage, gate oxide, temperature, and maximum drain current. Gate oxide is always very thing due to which, it has a low breakdown threshold, and high gate to source voltage cuts down the life of MOSFET with very less benefits of RDSon reduction. Thus, this factor is likely to impede growth of the global power MOSFET market over the forecast period.

High cost of power MOSFET systems to obstruct the market growth

The high cost involved in installation of these systems in vehicles acts as a major challenge, which in turn leads to higher cost of vehicles. Along with this, due to various electronic components, the serviceability of vehicles becomes difficult and creates the need for skilled labor. These factors in turn are expected to hamper growth of the global power MOSFET market over the forecast period.

Figure 2: Global Power MOSFET Market Share (%), By Power Rate, 2022

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Global Power MOSFET Market Segmentation:

The global power MOSFET market report is segmented into Type, Power Rate, and Application.

Based on Type, the market is segmented into Depletion Mode Power MOSFET, Enhancement Mode Power MOSFET. Out of which, Depletion Mode Power MOSFET is expected to dominate the global market over the forecast period and this is attributed to the widespread use of in consumer electronics due to its ability to control high voltage and compact size. The use of depletion mode power MOSFET is increasing across various applications including air conditioners, welding machines, inverters, and UPS in order to reduce power loss and control the power. Thus, the segment is likely to show strong growth in the coming years.

Enhanced mode power MOSFET segment is also expected to witness significant growth in the near future and this is owing to the growing use in traction and industry applications. Enhancement mode power MOSFETs are a power module having high current rating, as they parallelize semiconductor chips. They consist several chips mounted on an isolated substrate. It comes in varying configuration, including, full-bridge, half-bridge, and chopper. The use of these MOSFETs is increasing across high power industrial applications and traction, which in turn is expected to support growth of this segment.

Based on Power Rate, the market is segmented into High Power, Medium Power, and Low Power. Out of which, High Power is expected to dominate the global market over the forecast period and this is attributed to the market players increasingly offering novel advanced products. For instance, Fuji Electric Systems Co. and Infineon Technologies AG are some of the major market players who are offering innovative technology products. The companies are offering high power MOSFET with current ratings from 250A to 1200A. The segment is thus likely to gain major growth in the coming future.

Medium Power segment is also expected to witness significant growth in the near future and this is owing to the increasing adoption of medium power MOSFETs in electric vehicles for power transmission. For instance, several prominent automotive manufacturers are using medium power MOSFET for enhancing power conversion with minimum power loss.

Based on Application, the market is segmented into Energy & Power, Consumer Electronics, Automotive, Inverter & UPS, Industrial, and Others. Out of which, Energy & Power is expected to dominate the global market over the forecast period and this is attributed to the increasing demand for electricity in developing and developed countries, owing to growing industrialization.

Consumer Electronics segment is also expected to witness significant growth in the near future and this is owing to the growing adoption in consumer electronic devices such as air conditioners, refrigerators, and washing machines. Some of major market players are launching advanced MOSFETs having enhanced durability and compact size in order to serve the need of consumer electronic users. Thus, the segment is anticipated to show substantial growth in the global power MOSFET market over the forecast future.

Global Power MOSFET Market: Key Developments

In March 2022, Toshiba Electronic Devices & Storage Corporation announced the launch of a 40 V N-channel MOSFET, SSM6K804R, for automotive equipment in order for the expansion of its lineup.

In September 2020, Mitsubishi Electric Corporation announced the launch of second-generation full-SiC power modules that feature a newly developed SiC chip for industrial use.

In August 2020, Digi-Key Electronics entered into partnership with EAO for the expansion of its tool offerings and to offer new Digital Product Selector tool to its customers for emergency stop switches.

In February 2020, Renesas Electronics Corporation and Sennheiser GmbH announced partnership for providing quality care to the business, consumer, and wearable computing markets.

Global Power MOSFET Market: Key Companies Insights

The global power MOSFET market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis.

Some of the key players in the global power mosfet market are Toshiba Corporation, STMicroelectronics N.V., Renesas Electronics Corporation, Texas Instruments Incorporated, Infineon Technologies AG, NXP Semiconductors, Mitsubishi Electric Corporation, Digi-key Electronics, IXYS Corporation, and Power Integrations, Inc.

*Definition: A Power MOSFET is a specific type of metal–oxide–semiconductor field-effect transistor (MOSFET) designed to handle significant power levels. This power-handling capability allows designers to reduce circuit parasitics and system costs through smaller device size, higher switching frequencies and improved efficiency.