Recently, Fuji Keizai, a market research company, published a research report "Latest Trends and Technology Trends in the Power Device Wafer Market", summarizing the research results of the power semiconductor wafer market.
According to the report, the power semiconductor market is expected to grow by 23.4% in 2024 from the previous year, and the market size will reach 281.3 billion yen. This growth is mainly due to the increase in production capacity of major manufacturers, especially the rapid growth of SiC die sales, which is expected to increase by 56.9% year-on-year, surpassing the silicon wafer market. The trend of vehicle electrification is a major driver driving the growth of the power semiconductors market. With the popularity of new energy vehicles, SiC (silicon carbide) die has become a major driving force in the market due to its excellent performance. In order to meet the growing demand for power semiconductors, the expansion of wafer diameters has become a consensus in the industry. In addition to the gradual transition of traditional silicon wafers to 300mm, the SiC bare wafer market is also expected to achieve large-scale production of 8-inch (200mm) wafers in the next few years. At the same time, new materials such as 6-inch (150 mm) GaN (gallium nitride) wafers and gallium oxide wafers are also under active development, and the introduction of these materials will further drive the power semiconductor market.
The power semiconductor market is expected to further expand to 1,076.3 billion yen by 2035, a 4.7-fold surge from the 2023 level. Among them, the SiC bare wafer market is expected to gradually rise from 2025, and by 2035, 8-inch SiC bare wafers will account for 13.3% of the entire SiC bare wafer market.
Figure: Power wafer scale is forecast to increase by 23.4% year-on-year in 2024
The growth of the power semiconductor market is mainly due to two major drivers. First, the acceleration of vehicle electrification is driving a surge in demand for power semiconductors. The demand for power semiconductors for new energy vehicles is much higher than that of traditional fuel vehicles, especially in key areas such as battery management systems, motor controllers, and on-board chargers. Secondly, the improvement of industrial automation has also contributed to the growth of the power semiconductor market. In the fields of intelligent manufacturing and industrial automation, power semiconductors play a vital role, and their market size continues to expand with the improvement of industrial automation.
While the power semiconductor market is growing rapidly, technological innovation is also driving the development of the market. First of all, the expansion of wafer diameter has become a consensus in the industry. Traditional silicon wafers are gradually transitioning to 300mm to improve production efficiency and reduce costs. At the same time, the SiC (silicon carbide) bare wafer market is also growing rapidly, and it is expected to achieve large-scale production of 8-inch (200mm) wafers in the next few years. This will further improve the performance and reliability of SiC power devices and meet the market demand for high-performance and high-reliability power devices.
Secondly, the introduction of new materials has also brought new development opportunities to the power semiconductor market. For example, new materials such as GaN (gallium nitride) and gallium oxide have excellent electrical properties and thermal stability, making them suitable for the manufacture of high-performance power devices. At present, these new materials are under active development and are expected to become an important growth point for the power semiconductor market in the future.
