1. Global and China Power Devices Market Size and Growth Trends

According to data from the Champ Consulting Group,2022Annual Global PowerICMarket size reaches315Billion US dollars, year-on-year growth3.4%. The Chinese powerICThe market size is approximately140Billion US dollars, year-on-year growth4.5%, accounting for the global market44.4%It continues to be the first in the world.2023The global power device market size is expected to reach333Billion US dollars, year-on-year growth5%. Among them, the size of China's power device market is expected to reach144Billion US dollars, year-on-year growth7.5%, accounting for the global market43.2%。

In terms of product types, the global and Chinese power device market consists of five main categories of products, namely, power.MOSFET、IGBT, power diode, power bipolar transistor (BJT) and thyristors (Thyristor). Among them,MOSFETandIGBTFor the representative of the transistor occupies the vast majority of the market share.2022Global YearMOSFET(including discrete devices and modules) market size of approximately85.8billion dollars, as a percentage of total demand27%; GlobalIGBT(including discrete devices and modules) market size of approximately63.9billion dollars, as a percentage of total demand20%。2022Year of ChinaMOSFET(including discrete devices and modules) market size of approximately37.35Billion US dollars (261.45billion yuan), accounting for the total demand43.65%; ChinaIGBT(including discrete devices and modules) market size of approximately19.5Billion US dollars (136.5billion yuan), accounting for the total demand30.5%。

From the perspective of growth trends, the global and Chinese power device markets have shown steady growth, mainly driven by the following factors:

The rapid development of electric vehicles and charging piles. Electric vehicles and charging piles are important applications of power devices, and with the global pursuit of carbon neutrality and policy support, the penetration and sales of electric vehicles are increasing, while the construction of charging piles is also accelerating.2022In, the global electric vehicle (BEVandPHEV) sales of approximately1050Ten thousand,2021Annual growth55%. Among them, the sales volume of electric vehicles in China is about630million, accounting for the global sales of electric vehicles.60%Above.2022In, the global number of charging piles is approximately4200Ten thousand,2021Annual growth40%. Among them, the number of charging piles in China is about140010,000, accounting for 1/3 of the global number of charging piles. These areas have a large demand for power devices, high performance requirements, low price sensitivity, and a significant pull on the power device market.

Continued growth in photovoltaic power generation and energy storage. Photovoltaic power generation and energy storage is another important application field of power devices. With the global attention and investment in renewable energy, the installed capacity and power generation of photovoltaic power generation and energy storage are increasing. At the same time, technological progress and cost reduction have also promoted the development of this field.2022The new installed capacity of photovoltaic power generation in China is about106GW, year-on-year growth58%; cumulative installed capacity reaches3.93billion kilowatts, accounting for the global total28%。2022China's PV power generation in about1.19Trillion kWh, year-on-year growth21%. These areas have a large demand for power devices, high performance requirements, low price sensitivity, and a significant pull on the power device market.

Steady demand for consumer electronics and communications. Consumer electronics and communications are traditional applications of power devices, which have maintained a certain level of demand despite the impact of the new crown epidemic and chip shortages.2022China's smartphone market suffered a cold winter, with annual shipments of only2.86billion units, down sharply year-on-year13.2%, a record low. In contrast, ChinaPCThe market performance was relatively stable, with full-year shipments4.85Billion units, down slightly year-on-year.5%. In the construction of new information infrastructure, China5GNetwork construction is progressing steadily, as2022At the end of the year, the cumulative completion and opening5GBase Station231.2Ten thousand, accounting for the world60%above,5GUser reaches5.61billion households. Although the demand for power devices in these areas is relatively small, the performance requirements are high and the price sensitivity is low, and the supporting role of the power device market cannot be ignored.

2. Global and China Power Device Applications and Market Proportion

The application fields of global power devices are mainly divided into five categories, namely automotive electronics, industrial electronics, computing, communication and consumer electronics. Among them, automotive electronics accounted for the highest proportion, reaching33%; followed by industrial electronics, accounting28%; computing, communications and consumer electronics accounted13%、12%and11%。

The application fields of power devices in China are mainly divided into five categories, namely automotive electronics, industrial electronics, computing, communications and consumer electronics. Among them, industrial electronics accounted for the highest proportion, reaching34%; followed by automotive electronics, accounting28%; computing, communications and consumer electronics accounted14%、13%and10%。

From the perspective of changes in application areas, the global and Chinese power device markets have the following characteristics:

Demand for automotive electronics is growing fastest. With the global pursuit of carbon neutrality and policy support, the penetration and sales of electric vehicles are increasing, while the construction of charging piles is also accelerating. These areas have a large demand for power devices, high performance requirements, low price sensitivity, and a significant pull on the power device market.2022Global YearMOSFET(including discrete devices and modules) automotive applications (electric vehicles and automotive charging piles) market size is26.7US $billion, accounting for globalMOSFETof the market30%. The market size of electric vehicles and charging piles is as follows20.5billion dollars and6.2Billion US dollars, accounting for respectively77%and23%。2022Year of ChinaMOSFET(including discrete devices and modules) automotive applications (electric vehicles and automotive charging piles) market size is10.6Billions of dollars, accounting for global40%. The market size of electric vehicles and charging piles is as follows8.1billion dollars and2.5Billion US dollars, accounting for respectively76%and24%. It is expected that in the next few years, with the continuous development of electric vehicles and charging piles, the demand for power devices in automotive electronics will continue to grow, and the market share will further increase.

Demand for industrial electronics remained stable. Industrial electronics is another important application field of power devices, covering many fields such as photovoltaic power generation, wind power generation, energy storage, rail transportation, industrial motors, aerospace and military industries. These fields have large demand for power devices, high performance requirements, and low price sensitivity, and their supporting role in the power device market cannot be ignored.2022 Global YearMOSFET(including discrete devices and modules) market size of approximately 87.57 billion US dollars, of which the proportion of industrial applications remained 35%, then the market size for industrial applications is approximately 30.65 Billions of dollars.2022 Year of ChinaMOSFET(including discrete devices and modules) market size of approximately 36.86 billion US dollars, of which the proportion of industrial applications remained 34%, then the market size for industrial applications is approximately 12.53 Billions of dollars. It is expected that in the next few years, with the country's attention and investment in new energy and new infrastructure, the demand for power devices in industrial electronics will remain stable, and the market share will remain at a high level.

Demand for computing, communications and consumer electronics is relatively small. Computing, communications and consumer electronics are traditional applications for power devices, which have maintained a level of demand despite factors such as the new crown epidemic and chip shortages. Although the demand for power devices in these areas is relatively small, the performance requirements are high and the price sensitivity is low, and the supporting role of the power device market cannot be ignored.2021Global YearMOSFET(including discrete devices and modules) for computing, communications and consumer electronics applications, respectively.13%、12%and11%。2021Year of ChinaMOSFET(including discrete devices and modules) for computing, communications and consumer electronics applications, respectively.14%、13%and10%. It is expected that in the next few years,5GWith the popularity of the network and the development of cloud computing, the demand for power devices in computing and communications will increase, and the market share will increase, while the demand for power devices in consumer electronics will be affected by market saturation and alternative products, and the market share will decline.

3. global and Chinese power device competitive landscape and major companies

The competitive landscape of the global power device market presents the following characteristics:

European, American and Japanese companies still dominate. Among the top ten power device companies in the world, six are from Europe, America and Japan, namely Infineon (Infineon), American ansemi (ON Semiconductor), Japan's Mitsubishi (Mitsubishi), Texas Instruments (TI), Japan Fuji (Fuji) and American Microchip Technology (Microchip). These companies have strong advantages in technological innovation, brand influence, market channels and customer resources, and occupy the global power device market.60%share of the above.

The performance of Taiwan enterprises in China is outstanding. Three of the world's top ten power device companies are from Taiwan, Taiwan (Macronix), Taiwan Jingdian (Lite-On) and Taiwan Liandian (UMC). These businesses are at low pressure.MOSFETThe global power device market is highly competitive in the fields of power diodes and power modules.15%About the share.

Chinese mainland enterprises rise rapidly. Only one of the world's top ten power device companies is from mainland China, namely Anshi Semiconductor (Ampleon). The enterprise is the original Philips (Philips) and NXP (NXP) of the RF power department in2015The company is mainly engaged in the research and development, production and sales of RF power devices and modules, occupying the global power device market.5%share. In addition, there are some Chinese mainland companies that have performed well in the global power device market, such as Yangzhou Yangjie (Yangjie Technology), CR Micro (CR Micro), Hangzhou Shilanwei (Silan Microelectronics), Jiaxing Stari (StarPower), etc., these enterprises inMOSFET、IGBTAnd silicon carbide and other fields have strong technical strength and market competitiveness, occupy.30%, of which electric vehicles and charging piles accounted22%and8%。

Demand for industrial electronics maintained steady growth. Industrial electronics is another important application field of power devices. With the global emphasis and investment on renewable energy, the installed capacity and power generation of photovoltaic power generation and energy storage are increasing. At the same time, technological progress and cost reduction have also promoted the development of this field. In addition, wind power, rail transportation, industrial motors and other fields also have a greater demand for power devices. These fields have large demand for power devices, high performance requirements, and low price sensitivity, and their supporting role in the power device market cannot be ignored.2022Global YearMOSFET(including discrete devices and modules) market size110.6billion, of which industrial applications accounted for approximately25%。2022Year of ChinaMOSFET(including discrete devices and modules) market size20.8billion, of which industrial applications accounted for approximately21%。

Computing, communications, and consumer electronics have relatively small demand but high performance requirements. Computing, communications and consumer electronics are traditional applications for power devices, which have maintained a level of demand despite factors such as the new crown epidemic and chip shortages. Although the demand for power devices in these areas is relatively small, the performance requirements are high and the price sensitivity is low, and the supporting role of the power device market cannot be ignored.2022Global YearMOSFET(including discrete devices and modules) for computing, communications and consumer electronics applications, respectively.12%、11%and10%。2022Year of ChinaMOSFET(including discrete devices and modules) for computing, communications and consumer electronics applications, respectively.13%、12%and9%。

3. global and Chinese power device competitive landscape and major companies

The competitive landscape of the global power device market is mainly characterized by the following characteristics:

European, American and Japanese companies dominate, but their market share has declined. European, American and Japanese companies have strong technical advantages, brand advantages and customer advantages in the field of power devices, occupying a dominant position in the global market.2021Among the top ten companies in the global power device market, there are eight European, American and Japanese companies, namely Infineon of Germany, anson of the United States, Mitsubishi of Japan, Fuji of Japan, Texas Instruments of the United States, Anson Semiconductor of the United States, Toshiba of Japan and Aotes of the United States. Among them, Infineon led the way in revenue, reaching80Billion US dollars, accounting for the global market25.2%. However, the market share of European, American and Japanese companies has also declined, mainly due to competition and challenges from Chinese companies.

The rise of Chinese enterprises, market share continues to increase. After years of development and accumulation in the field of power devices, Chinese enterprises have formed a relatively complete industrial chain and strong technical capabilities, gradually marching into medium and high-end products and applications, and achieving a breakthrough in domestic substitution. Among the top ten companies in the global power device market, there are two Chinese companies, Anshi Semiconductor and Yangzhou Yangjie. Among them, Anshi Semiconductor to revenue10.5US $billion ranks fifth in the world, accounting for the global market.3.3%; Yangzhou Yangjie to revenue4.5US $billion ranks 10th in the world, accounting for the global market.1.4%. In addition, China Resources Micro, Shilanwei, Starsemi and many other Chinese companies have entered the top 20 in the world.

The application of new materials such as silicon carbide has increased, bringing new opportunities and challenges. The third generation of wide band gap semiconductor materials such as silicon carbide have the advantages of higher withstand voltage, lower conduction loss, higher operating temperature and higher switching frequency, and are suitable for high voltage, high temperature, high efficiency and high frequency. Scenarios such as electric vehicles, charging piles, photovoltaic inverters, etc. With the technological progress and cost reduction, the application scope and market scale of new materials such as silicon carbide are constantly expanding, which brings new opportunities and challenges to the power device market.2022The global market size of silicon carbide power devices (including discrete devices and modules) reached14.72billion dollars, as a percentage of total demand4.3%；2023The market size is expected to grow throughout the year.19.72billion dollars, as a percentage of total demand5.8%。2022The market size of China's silicon carbide power devices (including discrete devices and modules) in4.3Billion US dollars (29billion yuan), accounting for the total demand3.1%；2023The market size is expected to grow throughout the year.5.8Billion US dollars (39billion yuan), accounting for the total demand4.3%。

The competitive landscape of China's power device market is mainly characterized by the following characteristics:

The process of domestic substitution accelerated and the market share of domestic enterprises increased. China's power device market has long been monopolized and controlled by European, American and Japanese companies, and domestic companies can only occupy a certain market share in low-end products and applications. However, in recent years, with the technological progress and market development of domestic enterprises, the process of domestic substitution has accelerated. Domestic enterprises have achieved breakthroughs in mid-to-high-end products and applications, and their market share has continued to increase.2021In China's power device market, the market share of domestic enterprises reached36.6%, increased year-on-year3.6percentage point.

Anshi Semiconductor led the Chinese market, Yang Jie, China Resources Micro and other follow-up. Anshi Semiconductor is a leader in the field of power devices in China, with strong technical capabilities, brand influence and customer resources, mainly engaged in power.MOSFET、IGBTThe design, manufacture and sales of silicon carbide and other products have a high market share in many fields, such as electric vehicles, charging piles, photovoltaic power generation, wind power generation, consumer electronics, rail transit, industrial motors, energy storage, aerospace and military industry. The market share of Anshi Semiconductor in China's power device market reached7.8%, in the first place. Yangzhou Yangjie is a rising star in the field of power devices in China, mainly engaged in power.MOSFET、IGBTThe design, manufacture and sales of silicon carbide and other products have strong competitiveness in the fields of electric vehicles, charging piles, and photovoltaic power generation. Yangzhou Yangjie's market share in China's power device market reached3.4%, in second place. China Resources Micro is a new star in the field of power devices in China, mainly engaged in power.MOSFET、IGBTThe design, manufacture and sales of silicon carbide and other products have developed rapidly in the fields of electric vehicles and charging piles. China Resources Micro's market share in China's power device market reached2.8%, in third place.

The localization of new materials such as silicon carbide is progressing smoothly, and domestic enterprises are expected to catch up. Silicon carbide and other third-generation wide bandgap semiconductor materials are emerging directions in the field of power devices, with higher performance advantages and market potential, but they also face problems such as technical difficulties, high costs, and tight supply. China's localization of new materials such as silicon carbide is progressing smoothly, and a complete industrial chain from raw materials, wafers, devices to modules has been formed. Domestic companies are expected to catch up with European, American and Japanese companies in this field. In the Chinese silicon carbide power device (including discrete devices and modules) market, the market share of domestic companies has reached.36.2%, increased year-on-year6.2percentage point. Among them, Anshi Semiconductor, Yangzhou Yangjie, China Resources Micro, Shilanwei, Starsemi-conductor and many other domestic enterprises have made outstanding achievements in the field of silicon carbide power devices.

Views and Suggestions of 4. Champ Consulting Group

Shangpu Consulting Group believes that power devices are one of the core devices in the electronic industry chain, which can realize electric energy conversion and circuit control. They are widely used in many fields, such as electric vehicles, charging piles, photovoltaic power generation, wind power generation, consumer electronics, rail transit, industrial motors, energy storage, aerospace and military industry. Both the global and Chinese power device markets are showing solid growth, driven by the following factors:

Rapid Development of Electric Vehicles and Charging Piles

Continued growth in photovoltaic power generation and energy storage

Steady demand for consumer electronics and communications

Increased application of new materials such as silicon carbide

Shangpu Consulting Group recommends that power device companies should formulate reasonable product strategies and market strategies based on market demand and technology trends to improve their competitiveness and profitability. Specifically, the following recommendations are made:

Strengthen the development and service of high-end applications such as automotive electronics and industrial electronics, improve product performance and reliability, and enhance brand influence and customer stickiness.

Seize the opportunity of new materials such as silicon carbide, increase investment in technology research and development and production capacity, reduce costs and prices, and expand market share and penetration.

Focus on the maintenance and innovation of traditional applications such as computing, communications and consumer electronics, improve product efficiency and integration, and meet customer needs for power density and thermal performance.

Strengthen the layout and expansion of the global market, take advantage of its own advantages in cost, efficiency and service, and strive for more overseas orders and cooperation opportunities.

Shangpu Consulting Group believes that in the next few years, the global and Chinese power device markets will maintain a good momentum of development, bringing more business opportunities and challenges to power device companies. Shangpu Consulting Group will continue to pay attention to the dynamics and trends in the field of power devices, and provide professional consulting and services for power device companies.