Power MOSFET Market Worth US$ 13.8 billion by 2030
The global power MOSFET market was valued at USD 8.3 billion in 2021 and is projected to reach USD 13.8 billion by 2030, registering a CAGR of 6.6% from 2022 to 2030. MOSFET is an acronym for Metal Oxide Semiconductor Field Effect Transistor. It is a power semiconductor used as an electronic switch device to control the loads as per requirement. Besides being a cost-effective solution to replace bipolar junction transistor (BJT), it also enables power management to enhance energy conservation in various industrial systems, consumer electronics, and electric vehicles. It is currently used in renewable resources and electric vehicles to improve switching speed, prevent power loss, and amplify electronic signals in electric devices.
Power MOSFET holds tremendous potential in the future as it is deployed in numerous electric devices. The market is anticipated to generate moderate cash output with modest investments in development, research, and tests in the coming years. The power MOSFET market is nearing the maturing stage and is expected to generate modest revenue for key players in the coming years. The industrial and medium power MOSFET segments have tremendous growth potential during the forecast period. Although the market is growing, these systems are expected to generate significant revenue compared to other types of power MOSFETs.
Power MOSFET is a cost-effective electronic switch device, which has replaced bipolar junction transistors. Power MOSFETs are increasingly being employed in electric cars to enhance switching speed, avoid power loss, and amplify electronic signals. Automotive and industrial verticals, for example, are the top industries with the largest demand.
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COVID-19 Impact on the Global Power MOSFET Market
COVID-19 is having a large impact on both economy and the consumers. Electronics manufacturing hubs have been temporarily shut down to liming the COVID-19 spread among individuals. This has significantly impacted the power MOSFET market's supply chain, resulting in component, material, and final goods shortages. In the public safety sensors market, a lack of business continuity has severe negative consequences on shareholder returns and revenue, which is projected to cause financial disruptions.
The governments in key markets have prioritized safety and security in the current threat environment. Thus there is strong demand from the defense sector. Though, the residential sector witnessed severe loss; thereby, no new orders were placed during the pandemic. And this impact is estimated to continue till 2021. Additionally, the international automobile markets are weak due to the lockdowns imposed to tackle the pandemic for several weeks. Although the vehicles market in the U.S. and Europe are estimated to witness mild recovery in the second half of 2020, they are still significantly down on pre-crisis levels. Therefore, the power MOSFET market faces major obstacles from the emergence of the COVID-19 pandemic. The impact of COVID-19 on the industrial sector? has significantly affected the global economy. Electronic components such as ICs, LED chips, PCBs, wafers, and other semiconductor devices are mostly imported from China. Due to the shutdown of industrialized units, the costs of semiconductor components have increased by 2-3%, owing to a shortage of supplies.
Global Power MOSFET Market Dynamics
Drivers: Increase in emphasis on power saving
Electricity is not an easy form of energy to get as fossil fuels are depleting at an alarming rate. It is no surprise that more emphasis is given to conserving energy. MOSFET is a switching device used for controlling applications such as an inverter, electric vehicle, and power supplies. MOSFET is widely used in industrial applications involving low switching frequency. This increasing emphasis on power saving and the use of renewable energy has opened ways for this market. It has been assumed that renewable energy having a maximum number of installations would constitute more share for the power module.
Restraints: Limitations in operations and high overall cost
Limitations such as drain to source voltage, maximum drain current, breakdown due to gate oxide, and temperature hamper the growth of this market. The gate oxide is very thin, has a very low breakdown threshold; also, a high gate to source voltage reduces the life of the MOSFET, with little to no advantage on RDSon reduction. The MOSFET also requires a certain amount of drain to source voltage and drain current, failing to limit the required amounts that could easily lead to a breakdown. Power MOSFET also has the tendency to leak current, limiting its growth in the global market.
The high cost associated with vehicle installation could act as a restraint for the growth of the power MOSFET market as this factor leads to a higher cost of the car. Moreover, the vehicle's serviceability is difficult and requires skilled workers due to several electronic components. The complex structure of systems reduces the shelf life of vehicles.
Opportunities: Technological advancement in power MOSFET
Electronics today come equipped with many features to increase their sales and comfort consumers. Technological improvements in electronic components, such as smartphones, wireless communication & cloud systems, computers, and others, have improved consumers' safety parameters and widened the opportunity for enhanced electronics and devices in the global market.
The dynamic advancements in technology, improved efficiency, and compact size of electronic components, which provide lucrative opportunities for power MOSFET. In addition, nano controller plays a crucial role in managing the operations with optimum power loss. Moreover, integrating various electronic equipment is expected to provide ample opportunities to the market players.
Scope of the Report
The study categorizes the power MOSFET market based on type, power rate, and application at regional and global levels.
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By Type Outlook (Sales, USD Million, 2017-2030)
Depletion Mode Power MOSFET
Enhancement Mode Power MOSFET
By Power Rate Outlook (Sales, USD Million, 2017-2030)
High Power
Medium Power
Low Power
By Application Outlook (Sales, USD Million, 2017-2030)
Energy & Power
Consumer Electronics
Automotive
Inverter & UPS
Industrial
Others
By Region Outlook (Sales, USD Million, 2017-2030)
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North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The Enhancement Mode Power MOSFET segment is projected to account for the largest market share by type
By type, the power MOSFET market is analyzed across depletion mode power MOSFET and enhancement mode power MOSFET. Enhancement Mode Power MOSFET had the largest market, with 56.7% of the share in 2021. Enhancement mode power MOSFET is a power module with a high current rating by parallelizing semiconductor chips and is widely used in industry and traction applications. An enhancement mode power MOSFET consists of multiple chips mounted on an isolated substrate and a heat sinking copper base plate. Enhancement mode power MOSFET is gaining popularity worldwide, owing to its unmatched efficiency and durability. It is the next evolutionary step for power management. Numerous industries adopt enhancement mode power MOSFETs to operate high voltage welders, rolling mills, and water pumps. Enhancement Mode Power MOSFET-based technology has been adopted in trolleys in European countries to reduce current leakage and enhance efficiency. In the present business scenario, the enhancement mode power MOSFET is more preferred as it is cost-efficient and can be easily controlled at high voltage, which results in the market's growth.
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Asia Pacific accounts for the highest CAGR during the forecast period
Region-wise segmentation of the power MOSFET market is across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Worldwide, Asia Pacific is estimated to hold the highest CAGR in the global power MOSFET market during the forecast period. Asia-Pacific occupies a considerable market share in the global sensors market. This is due to increased technological advancements and a rise in automotive standards in developing countries like India, China, and Indonesia. Asia-Pacific is the fastest-growing region globally. It is the most lucrative market for power MOSFET due to the availability of high-end enhanced technologies, increase in demand for smart electronics, and growth in manufacturing industries.
Furthermore, various supportive non-profit organizations promoting packaging technologies fuel the market growth. These organizations take various initiatives to build power infrastructure with advanced technologies, which drives the growth of the power MOSFET market in the region. Organizations across verticals realize the importance of power MOSFET devices to ensure efficient working conditions. High demand for automated switching devices and power modules is expected to boost market growth.
Key Market Players
To increase market presence, every firm has used techniques such as product portfolio growth, mergers and acquisitions, partnerships, regional expansion, and collaborations. Fairchild Semiconductors, Renesas Electronics Corporation, Infineon Technologies AG, Digi-Main Electronics, IXYS Corporation Power Integration, Toshiba Corp, NXP Semiconductors, STMicroelectronics, and Texas Instruments are among the key power MOSFET market analysis companies mentioned in the study.
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