By 2030, the global market size of power semiconductors is projected to reach $550 billion.

As a crucial component in the field of power electronics, their value has become increasingly prominent in recent years with the rapid development of photovoltaics and electric vehicles.

According to Yole's forecasts, with the continuous increase in penetration rates of industrial automation, communication technology, photovoltaics, electric vehicles, and other sectors, power devices may maintain long-term growth. It is estimated that by 2026, the global power market will reach $26.274 billion, with a CAGR of 6.9%. Additionally, according to Straits Research(Straits Research is a market research and market intelligence organization), benefiting from the continued expansion of consumer electronics under the AI wave, the global power semiconductor market is expected to reach $550 billion by 2030.(Yole Group, an internationally renowned research institution in the fields of semiconductor, optics, and electronics industry.)

The automotive sector is the most significant downstream application market for power semiconductors, accounting for over 30%. In recent years, driven by the continuous demand for clean energy such as new energy vehicles, photovoltaics, and wind power, the demand for power devices represented by MOSFETs and IGBTs has been strong. Taking IGBTs as an example, according to forecasts by IHS Markit(IHS Markit,a British financial services company), by 2023, the Chinese IGBT market size is expected to reach 29.08 billion yuan, with tremendous growth potential.

Furthermore, according to Yole's forecast, by 2028 power devices will be dominated by MOSFETs, IGBTs, and SiC with market shares of 30%,23%, and 19% respectively.