There is tremendous pressure worldwide to shift to renewable energy sources to satisfy their electricity consumption and transportation needs.
According to a report by IEA, electric car sales reached 14 million in 2023, out of which almost 95% were in China, Europe, and the United States.
The increasing demand for solar energy, electric vehicles (EVs), and other renewable energy sources has led to a surge in the demand for power semiconductor devices. These semiconductors are essential in generating power, especially through renewable energy sources.
According to a market research report by Kings Research, the global power semiconductor market size is projected to reach USD 76.57 billion by 2031, exhibiting a CAGR (compound annual growth rate) of 5.97% during the forecast period of 2024 and 2031.
Key players in the power semiconductor industry offer multiple products to their customers across different sectors. In this blog, let us have a look at the top 10 companies in the power semiconductor market.
What are Power Semiconductor Devices?
Power semiconductor devices are electronic devices that require a power source externally to operate actively in electronic components. The materials leveraged to develop these semiconductor devices are neither insulators nor conductors. They are designed mainly to control, switch, amplify, or manipulate the electric current flow or voltage in the circuit. Sensors, thyristors, transistors, and diodes are a few of the power semiconductor devices that need power to execute their tasks. Power semiconductor devices are referred to components that can execute active functions such as switching, rectification, and amplification.
Top 10 Power Semiconductor Manufacturers and Suppliers
Below is the list of the major players in the power semiconductor market:
1. Infineon Technologies AG
Infineon Technologies AG is a player in the power semiconductor market. It is recognized for its wide range of products that cater to various applications. Infineon manufactures a wide array of power metal-oxide-semiconductor field-effect transistors (MOSFETs). These MOSFETs are essential for efficient power management in applications such as automotive, industrial, and consumer electronics. They are known for their high efficiency and reliability.
Infineon’s insulated gate bipolar transistors (IGBTs) are widely used in applications requiring high power and efficiency. Their IGBTs are leveraged in inverters for renewable energy systems, motor drives, and industrial automation. They combine the advantages of MOSFETs and bipolar transistors. Hence, it is suitable for high-voltage applications.
2. Texas Instruments Inc.
Texas Instruments Inc. is recognized for its extensive product ranges that cater to various applications. The company is headquartered in Dallas, Texas. TI manufactures and supplies a variety of power semiconductor products. It designs power management ICs (PMICs) to manage the power requirements of the host system.
TI's PMICs are widely used in consumer electronics, automotive applications, and industrial systems. A wide range of linear and switching voltage regulators are offered by the company. These regulators provide efficient power conversion and regulation for various electronic devices. The company continues to innovate and expand its product offerings to meet the growing demands of the power semiconductor sector.
3. Qorvo Inc.
Qorvo Inc. is an American multinational company that specializes in semiconductor solutions for various markets. Their product portfolio includes wireless, wired, and power applications. The company was formed through the merger of TriQuint Semiconductor and RF Micro Devices in 2015.
Qorvo is known for its innovative Gallium Nitride (GaN) technology. This technology provides high efficiency and performance in power conversion applications. Telecommunications, automotive, and industrial applications are a few of the sectors in which these solutions are particularly beneficial. Qorvo's RF power amplifiers are designed for higher efficiency and reliability. This makes them suitable for both consumer and industrial applications.
4. STMicroelectronics
STMicroelectronics is well-known for its diverse range of products that cater to various applications. Automotive, industrial, and consumer electronics are a dew of the sectors in which the company offers its products and services. It produces various types of diodes, including Schottky diodes and fast-recovery diodes. These components are crucial for rectification and protection in power circuits, enhancing efficiency and reliability.
STMicroelectronics also supplies gate driver ICs that facilitate the control of power transistors. These gate driver ICs ensure efficient switching and improved performance in power conversion applications. The company is advancing in the field of Silicon Carbide (SiC) and Gallium Nitride (GaN) technologies, which are known for their high efficiency and ability to operate at higher temperatures and voltages. These materials are increasingly used in high-performance applications, including electric vehicles (EVs) and renewable energy systems.
5. NXP Semiconductors
NXP Semiconductors is at the forefront of the power semiconductor market. With company headquarters in Eindhoven, Netherlands, the company specializes in a variety of power semiconductor products that cater to different applications. The company is well-known for its high-performance mixed-signal (HMPS) solutions. HMPS solutions integrate analog and digital functions to enhance performance in power management applications.
NXP also produces insulated gate bipolar transistors (IGBTs), which are widely used in industrial applications. Their applications include motor drives and renewable energy systems. These devices are known for their ability to handle high voltages and currents.
6. Semiconductor Components Industries, LLC.
Semiconductor Components Industries, LLC (SCI) is a subsidiary of ON Semiconductor. SCI manufactures and supplies a variety of power semiconductor products. Diodes, transistors, voltage regulators, power management ICs, and LED drivers are a few of the products manufactured and supplied by the company. The company provides various types of transistors, including metal-oxide-semiconductor field-effect transistors and IGBTs. These devices are crucial for switching and amplifying electronic signals in power applications. The power semiconductor products from Semiconductor Components Industries are utilized in various sectors.
7. Renesas Electronics Corporation
Renesas Electronics Corporation is a Japanese semiconductor manufacturer popular for its extensive range of semiconductor products, including power semiconductors. The company is headquartered in Tokyo and has a strong focus on designing, developing, and supplying multiple semiconductor solutions.
Renesas provides linear voltage regulators that maintain a constant output voltage. It is vital for powering sensitive electronic components. Their solutions contribute to energy efficiency and performance improvements. Renesas also develops integrated solutions that combine multiple power functions into a single module, simplifying design and improving reliability.
8. Broadcom
Broadcom offers a diverse range of products that cater to various applications. The company produces a range of metal-oxide-semiconductor field-effect transistors that are essential for switching and amplifying electronic signals. These components are widely used in power conversion applications, including DC-DC converters and motor drives.
Broadcom's LED driver solutions are designed for higher efficiency and reliability. This makes them suitable for a wide range of lighting applications, including automotive and general illumination.
9. Toshiba Corporation
Toshiba Corporation is a significant player in the power semiconductor market, offering a diverse range of products that cater to various applications. Toshiba manufactures a wide array of MOSFETs. Their IGBTs are widely used in high-power applications. These devices combine the advantages of MOSFETs and bipolar transistors, making them suitable for high-efficiency power conversion.
Toshiba develops power management ICs that integrate multiple functions into a single chip. This enhances efficiency and reduces the size of power supply designs.
10. Fuji Electric Co. Ltd.
Fuji Electric Co. Ltd. supplies a diverse range of products for various applications, particularly in energy-saving technologies and electric vehicles (EVs). Rectifier Diodes are vital components supplied by Fuji Electronic for converting alternating current (AC) to direct current (DC), playing a key role in power supply circuits.
Fuji Electric manufactures and supplies a comprehensive lineup of power semiconductor products. The company is actively increasing its investment in power electronics, particularly in response to the growing demand from the electric vehicle market.
Wrapping it Up
The power semiconductor market is very diverse based on the components offered to meet the needs of various electronic components. These above-mentioned companies are the top 10 key players in the power semiconductor industry that offer a diverse range of products and services to meet evolving energy needs. These organizations are seeking opportunities for effective strategic initiatives like expansion of services, substantially investing in research and development (R&D), setting up new delivery centers, and enhancing the service delivery processes to cater to their client's demands.
