Power MOSFET Market

The Power MOSFET Market Is Estimated To Witness High Growth Owing To Increasing Use in Smart Homes and Electric Vehicles

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The Power MOSFET market is estimated to be valued at US$ 8.06 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Power MOSFETs are semiconductor devices widely used in switching applications. They are commonly used in switching power supplies, inverters, motor controllers, and automotive electronics. Power MOSFETs allow the control of high current flows with low current gate signals. They support operating voltages from a few volts to thousands of volts and can withstand high currents in the range of 1-100 A. Due to their high operating efficiency, ruggedness, and small size, they are used in various applications like smart homes, electric vehicles, industrial machines, computers, and telecommunications systems.

Market Dynamics:
Increasing adoption of smart homes is estimated to drive the growth of the power MOSFET market. Smart homes utilize various electronic devices and appliances that require power MOSFET components for their efficient functioning. Growing popularity of smart locks, security cameras, lighting systems, thermostats, and home appliances integrated with internet connectivity is augmenting market growth. Furthermore, increasing adoption of electric vehicles is also fueling market growth. Power MOSFETs are extensively used in electric vehicle powertrains, onboard chargers, and auxiliary loads. They enable efficient power management in electric vehicles by controlling voltage and current waveforms. Moreover, rising investments by key players to increase production capacities in order to cater to growing demand from various end use industries are estimated to offer lucrative market opportunities over the forecast period.

SWOT Analysis

Strength: Global Power MOSFET Market has high current-carrying capability, low on-resistance and fast switching speed which makes it suitable for various applications. It offers enhanced power handling capability and energy efficiency. Continuous technological advancements have improved their performance.

Weakness: Design complexity increases with higher power ratings which adds to product development costs. Voltage andcurrent ratings require heat dissipation designs which add to size and costs. Vulnerable to damage from electrostatic discharge during manufacturing and handling.

Opportunity: Growing demand for electric vehicles provides growth opportunity due to need for high power applications. Rising focus on renewable energy also drives the need for efficient power conversion solutions. Increasing penetration of IoT devices augments opportunities.

Threats: Availability of alternative technologies like IGBTs and gallium nitride offering competition. Trade policies and Geopolitical risks affect global supply chains and business environment.

Key Takeaways

The global Power MOSFET market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing demand for LED lighting and growing adoption of EVs. Rising focus on energy efficiency across various end use industries is a major driver facilitating the market growth.

Regional analysis – Asia Pacific dominates the global market and is expected to exhibit fastest growth over the forecast period owing to large consumer base, rising disposable income, and rapid industrialization. China, Japan and South Korea are the major countries contributing to the regional market growth.

Key players operating in the 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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it