According to a new report published by Allied Market Research, titled, Power MOSFET Market by Type, Power Rate and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the Power MOSFET market was valued at $3,730 million in 2016, and is projected to reach $6,340 million by 2023, growing at a CAGR of 7.4% from 2017 to 2023. The enhancement mode power MOSFET segment held more than half of the total market in 2016.
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Enhancement mode power MOSFET module is the foremost device, widely used in various electronic devices. At present, the rise in demand for higher efficiency, faster switching, and minimal power loss drives the market. Moreover, aggrandized need for compact voltage operating device is expected to provide growth opportunities to the market players. However, depletion mode power MOSFET segment is expected to witness significant growth in the future, owing to its compact size and enhanced efficiency.
Low power MOSFET segment is projected to maintain its lead in the overall MOSFET market, as these modules are used in consumer electronics, such as smart phone, televisions, and others. Moreover, Asia-Pacific is the major revenue contributor of this market due to increase in demand for electric gadgets, which utilize MOSFET for power transaction. China, India, and Japan are the major consumers of MOSFET in the Asia-Pacific region.
Among applications, consumer electronics segment dominated the global market in 2016, accounting for 23% share. High input impedance and improved parallel current sharing has fueled the market growth. However, industrial system is anticipated to be the most lucrative application segment, and is expected to grow at the highest CAGR of 9.0% during the forecast period.
Asia-Pacific was the major revenue contributor in 2016, and is expected to maintain its dominance throughout the forecast period. This is attributed to the increase in number of power management devices and solutions. Moreover, developments in energy & power and automotive sectors are anticipated to boost the growth of the power MOSFET market, especially in the Asia-Pacific countries, such as China, Japan, Australia, and India.
Asia-Pacific is anticipated to grow at highest CAGR of 8.4% during the analysis period, owing to increase in demand for switching devices and rise in the adoption of controllers in consumer electronics and other sectors. Technological advancements to overcome complexity of the circuit are expected to offer lucrative opportunities for market players in the near future.
Key Findings Of The Power MOSFET Market:
- In 2016, the enhancement mode power MOSFET segment dominated the global power MOSFET market, in terms of revenue, and is anticipated to grow at a CAGR of 6.9% during the forecast period.
- The medium power MOSFET segment is expected to exhibit the highest growth rate, owing to the flexibility and durability.
- The consumer electronics segment dominated the global power MOSFET market, accounting for nearly one third of the total market share in 2016.
The key players operating in the power MOSFET market have adopted new product launch as their preferred strategy to expand their market foothold. The major players profiled in this report include Infineon Technologies AG, Fairchild Semiconductors, Renesas Electronics Corporation, Digi-key Electronics, Toshiba Corp., IXYS Corporation, Power Integration, STMicroelectronics, NXP Semiconductors, and Texas Instruments.