May 24, 2024
Power MOSFET Market

Power MOSFET Market is Estimated to Witness High Growth Owing to Increase in Demand for Consumer Electronics

The power MOSFET market has witnessed significant growth over the past few years owing to increasing use of power MOSFETs in consumer electronics such as laptops, smartphones, smart TVs, LED lamps and other electronics. Power MOSFETs offer several advantages over bipolar junction transistors such as ease of driving, faster switching speeds and higher power handling capabilities. The growing demand for portable consumer devices is prompting companies to focus on manufacturing more power-efficient semiconductors. This in turn is expected to boost market growth during the forecast period.

The Global power MOSFET market is estimated to be valued at US$ 9.29 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Power MOSFET Market Growth are Dow Inc. (US), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (US), Shin-Etsu Chemical Co., Ltd (Japan), China National Bluestar (Group) Co., (China), Reiss Manufacturing Inc. (US), and CHT Germany GmbH (Germany). Key players are focusing on product development and strategic collaborations to gain a competitive edge in the market.

The growing demand for renewable energy and electric vehicles presents lucrative growth opportunities for manufacturers of power MOSFETs. The increasing adoption of EVs is expected to boost demand for power MOSFETs used in EV chargers as well as other automotive electronics over the forecast period.

Major players are focusing on expanding their geographic footprint in high growth markets such as Asia Pacific, Latin America and Middle East & Africa. The large untapped growth potential offered by these markets will facilitate global expansion of market participants.

Market drivers

The rising demand for consumer electronics is a major factor driving the power MOSFET market. With growing digitization and increasing internet penetration, consumer spending on smart devices and home appliances has increased significantly in recent years. The widespread use of power MOSFETs across various consumer electronic products to enhance their power efficiency and performance continues to propel market demand. The development of innovative semiconductors catering to diverse consumer needs will further aid market growth over the next few years.

PEST Analysis

Political: Power MOSFET market is regulated by international and domestic standards on emission and safety. Trade policies can impact availability and price of raw materials.

Economic: Stable economy and projected GDP growth will increase demand for electronics and automotive sectors driving Power MOSFET adoption. Rising disposable incomes fuel demand for consumer appliances.

Social: Increasing population and urbanisation contributes to growing demand for more energy efficient devices relying on Power MOSFETs. Environmental awareness increases focus on low emissions and sustainable technologies.

Technological: Advancements in manufacturing processes enable smaller geometries and greater operating frequencies for enhanced performance. Newer materials allow higher operating voltages and currents catering to evolving applications.

Geographical Regions of Concentration

The Asian region, led by China, accounts for the largest share of the global Power MOSFET market in terms of value. This can be attributed to the presence of a strong electronics manufacturing base and growing demand for consumer appliances from rising middle class incomes. Countries like China, South Korea, Japan and Taiwan dominate the production as well as consumption of Power MOSFETs within Asia.

Fastest Growing Regional Market

The North American region is projected to experience the highest CAGR in the Power MOSFET market during the forecast period. Significant investments into electric vehicles and renewable energy adoption are driving incremental opportunities in the US and Canada. policy support for domestic manufacturing of semiconductors will further aid regional market growth.

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