【World Express】Fuji Economy in Japan Predicts that the World Power Semiconductor Market will Reach about 693.9 Billion yuan(￥) by 2035

    On April 10, Fuji Economics released a summary report on the power semiconductor market research entitled "The Current Status and Future Outlook of the 2023 New Generation Power Semiconductor & Power Electronics Related Equipment Market".

    According to the report, the power semiconductor market will be five times more in 2035 than that in 2022, reaching 693.9 billion yuan(￥). The SiC alone will reach 31 times that of the previous market in 2022, reaching 258.3 billion yuan(￥).

    The survey, conducted between November 2022 and February 2023, covers manufacturers of silicon power semiconductors and next-generation power semiconductors (SiC, GaN, gallium oxide and diamond), as well as manufacturers of power semiconductor manufacturing equipment and components. Even as civilian demand declines in 2022, demand expansion in automotive and electrical equipment is driving market expansion. After 2023, the market will continue to grow rapidly. Demand for next-generation power semiconductors SiC and GaN also continues to rise, with the market size growing 2.2 times in 2022 compared with the last year. The market is expected to continue expanding in 2023. For gallium oxide, a promising future market, the market will continue to expand by 2035, although currently accounting for only about 0.3% of the total power semiconductor market.

Market forecasts for silicon-based power semiconductors and new-generation semiconductors in 2023 and 2025

    Due to the high power conversion efficiency of SiC power semiconductors, its market share has been rapidly implemented in Europe and China. Renewable energy, data centers and vehicles, dominated by solar power, are strong, and future market growth will be concentrated in these areas. In addition, Fuji Economy believes that prices will be lower by increasing wafer production capacity, increasing wafer diameter and improving processing technology, which will drive the market expansion. Therefore, the market size in 2023 will increase by 34% year-on-year to reach 11.8 billion yuan(￥); by 2035, the market size will increase by 31 times to reach 275.3 billion yuan(￥).

    On the other hand, the GaN power semiconductor market continues to expand in areas such as fast-charging AC adapters and server power supply, and will expand by 32.6% to 300 million yuan by 2023. Subsequently, it will expand its application in the automotive sector, including on-board chargers and DC / DC converters, which will increase by 17.2 times to 3.8 billion yuan(￥) by 2035.

    Mass production of gallium oxide assessment samples may begin to produce Schottky barrier diodes, so the market size will reach 20 million yuan(￥) by 2023. In addition, if FET is practical around 2025, the application in civil equipment and information and communication equipment will increase, so the market size will grow to 2.3 billion yuan(￥) by 2023.

    Concerning the power semiconductor manufacturing equipment market, due to active investment in equipment by China and other regions, it will increase by 39.3% in 2022, by 21.4% to 21.3 billion by 2023, and 2.4 times to 42.3 billion by 2035. In addition, regarding the materials market, it will increase by 30.9% in 2022 to 14 billion yuan(￥), and by 11.5% to 15.6 billion yuan(￥) by 2023. After that, the market for sintering combination materials and SiN circuit boards will increase due to the demand growth in areas such as automotive and electrical devices, as well as in SiC demand. As a result, by 2035, the market size will increase by 4.4 times to reach 62.1 billion yuan(￥).

(All of the above are predictions)