Market and Technology Trends
Status of the Power Electronics Industry 2022
By Yole Intelligence —
What products to target and which company strategies to choose in the rapidly evolving power electronics market, which will reach $30.5B in 2027?
ABB, Alpha & Omega Semiconductor (AOS), Amkor, Analog Devices, ASE Group, Bosch, BYD, Cree, CRRC, Danfoss, Denso, Dialog Semiconductor, Diodes Incorporated, Diotec Semiconductor, Episil, EXAGAN, Fuji Electric, GaN Systems, General Electric, Global Wafers, GTA Semiconductor, Hitachi, Honda, Huawei, Infineon, Ingeteam, Littelfuse, MACMIC, Magnachip, Maxim Integrated, Microchip, Mitsubishi Electric, Monolithic Power Systems, Navitas, Nexperia, NXP, Okmetic, onsemi, Panasonic, Powerex, Power Integrations, Qorvo, Qualcomm, Renesas, ROHM Semiconductor, Sanken, Semikron, Shindengen, ShinEtsu, Siemens, Silan Microelectronics, Siltronic, Sino-Microelectronics, Soitec, STMicroelectronics, StarPower, Sumco, Sungrow, Tesla, Texas Instruments, Toshiba, Toyota, Transphorm, UnitedSiC, UTAC, Valeo, Vishay, Volkswagen and more.
- 2021 - 2027 market for power wafers, discrete power devices, power modules, and power converters
- Market and technology trends by application (xEV, photovoltaics, wind turbines, rail, UPS, consumer electronics…)
- Key power electronics device supplier rankings
- Mergers & acquisitions
- Manufacturing-capacity expansion plans
- Worldwide power market dynamics – focus on different regions
- Technology trends in wafers, devices, device packaging, system integration, charging infrastructure, battery…
- Updated market forecasts (2021 - 2027)
- Updated supply chain and manufacturing capacity expansions
- Focus on synergies between different applications
- Insight regarding e-motors, passives components, solid-state brakers…
- Insight concerning raw materials and environmental issues in power electronics manufacturing
- Impact of the Russia-Ukraine war
- Closely examine the status of the entire power market
- Research the dynamics of each device type, e.g., MOSFETs, IGBTs, wafers, power modules, etc.
- Explore the market share of the different device types and materials
- Provide an overview of the main power applications and relevant market trends, and their impact on the technology evolution
- Summarize the global power supply chain, e.g., for wafers, devices, modules, batteries, etc.
- Analyze the impact of the COVID-19 crisis and the Russian-Ukraine war on different market segments, including shortages
- Review the latest mergers & acquisitions and manufacturing capacity expansions
- Analyze the latest trends in companies’ business strategies
Scope of the report
About the authors
What we got right, what we got wrong
Who should be interested in this report
Methodology and definitions
- Overall power electronics market
- Wafer market for power electronics
- Discrete power component market
- Power module market
- Power management market
- Power converter market
Market trends, split by market
Market trends, at different levels
- Wafer trends
- Silicon IGBT trends
- Silicon MOSFET trends
Market share & supply chain
- Power electronics supply chain overview
- Market share
- Top 3 company profiles (Infineon Technologies, onsemi, STMicroelectronics)
- Manufacturing capacities for power electronics
- Mergers and acquisitions
- Power semiconductor industry worldwide
- Focus on the USA, Europe, China, Japan, and Korea
Impact of the Russia-Ukraine war
Raw materials issues in power electronics
Environmental aspects in power electronics
- Recent technology trends for different applications
- Holistic approach in power system design
- Insight concerning synergies between power electronics applications
- System integration trends and their impact on the supply chain
- Towards new component voltage levels
- Multilevel topologies
- Power component packaging
- Wide-bandgap semiconductor components
- Towards manufacturing on larger wafer diameter
- Passive components
- Gate drivers
Solid State Circuit Breakers (SSCB)
Electric motors for e-mobility
EV charging infrastructure
Outlook - To be watched closely in the coming years
Yole Group related products
About Yole Group
Power electronics is a healthy and dynamic market worth $30.5 billion by 2027
The power electronics market is mainly driven by efforts to slow-down climate change (by CO2 emissions reduction and system efficiency increase), and by digitalization trends. Trends such as “electrification”, “batteryfication”, and “automation” boost the demand for power electronic systems and devices. The power electronics discrete and module component market will feature a 2021 - 2027 CAGR of 6.9%. Such growing demand for power electronic devices comes from different booming applications analyzed in this report, such as electric and hybrid electric vehicles (xEV), factory automation, photovoltaics, wind turbines, uninterruptible power supplies (UPS), and home appliances.
In this report, Yole analyzes the market trends for different applications and provides market forecasts at silicon wafer, power device, and power converter levels.
Companies’ positioning and supply chain consolidation
2021 was marked by a global power electronics demand increase that has basically risen for all important players in the field. Looking closer at the top power electronics players’ rankings, we can see there is a clear leader – Infineon – which is a ways ahead of its two big followers: onsemi and STMicroelectronics. These companies are followed by a large number of smaller power electronics players. Consolidation of the power electronics supply chain is expected in the coming years. From Yole’s analysis, any company in the rankings will remain an important player after Infineon, provided they merge or acquire any company having a key product in their portfolio. Moreover, manufacturing capabilities need to be increased to be able to keep or increase share of the market – also, the increase in device design, back-end, and testing capacities needs to be reinforced. In this sense, big investments have been announced in power device manufacturing: more than $16B spent on new facilities with at least partial power device production allocation during the 2020 - 2025 period.
In this report, the power electronics supply chain is analyzed, including a focus on the supply chain of different materials (Si, SiC, GaN). Additionally, the main manufacturing capability expansion and M&As are compiled and discussed.
Power technologies are getting better, greener, and less costly
At Yole, we estimate that there will be no disruptive power electronics technology coming to the market in the next years, since the last disruption – SiC & GaN – is still being settled and is grabbing share of the traditional silicon market. Nevertheless, there are several technologies that are being developed to eventually penetrate in the long-term, such as Diamond, SiC IGBTs, and gallium oxide.
In any case, there is much evolution happening in different areas (system, device, wafer) in order to achieve lower losses, lower environmental imprint, and reduced costs. For instance, linked to cost reduction, the shift to larger wafer sizes is happening in all technologies, going to 12-inch for power silicon devices and 8-inch for GaN and SiC.
There is also much evolution at system level in order to get more efficient, cheaper systems. For instance, there is a big demand on power devices in the mid-voltage power range, around 650V and 1,200V. Device manufacturers are increasingly enlarging their product portfolio by offering devices with “intermediary” device voltage levels (e.g., 1,350V, 1.8kV, 2.0kV, 2.5kV…) to improve system efficiency and cost by a better match with the system voltage levels.
In this report, different topics are discussed, such as the penetration of multilevel topologies, the use of WBG devices and circuit breakers, the packaging evolution, and the trends for gate drivers and passives.