The Business Research Company's Global Power MOSFET Market Forecast To Reach $11.47 Billion By 2029 With 7.3% Annual Growth
The Power MOSFET market has seen impressive growth in recent years, and it's projected to continue this momentum into the next few years. In fact, estimates point to the market growing from $8.08 billion in 2024 to $8.65 billion in 2025, marking a compound annual growth rate CAGR of 7.0%.
What Can We Expect For The Future Growth Of The Power MOSFET Market Size?
Looking ahead, the Power MOSFET market is projected to grow to $11.47 billion in 2029 at a CAGR of 7.3%. This anticipated growth during the forecast period is largely attributed to factors like the adoption of electric vehicles and renewable energy, the expansion of 5G networks and IoT devices, the increasing demand for power management in data centers, and the industrial automation growth.
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What's Been Driving The Power Mosfet Market's Growth?
Key drivers behind the market expansion include the proliferation of electronics in consumer devices, the growth in power electronics applications, an increasing need for energy-efficient devices, an expanding automotive industry, and the evolving telecommunications infrastructure.
One noteworthy segment projected to fuel the growth of the Power MOSFET market is electric vehicles. These vehicles use electrical energy stored in batteries or other energy storage devices to power one or more electric motors. In an electric vehicle's inverter system, Power MOSFETs are widely incorporated to transform the battery's DC power into AC power that powers the electric motor.
Who Are The Key Industry Players Shaping The Power MOSFET Market Landscape?
Bear in mind that the growth and expansion of the power MOSFET market is primarily driven by key companies like Panasonic Corporation, Mitsubishi Electric Corporation, Sumitomo Electric Industries Ltd., Toshiba Corporation, Texas Instruments Incorporated, and STMicroelectronics NV.
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What's Contributing To The Competitive Edge Of The Power MOSFET Market?
These major players have been focusing on enhancing power efficiency, switching speed, and thermal performance through innovative technological advancements for high-power applications like gallium nitride GaN technology.
Major trends impacting the forecast period include miniaturization of power MOSFETs, integration of advanced packaging technologies, development of wide-bandgap power MOSFETs, increasing use of gallium nitride GaN and silicon carbide SiC, and the adoption of advanced gate driver technologies.
How Is the Global Power MOSFET Market Segmented?
The power MOSFET market is further segmented:
1 By Type: Depletion Mode Power MOSFET, Enhancement Mode Power MOSFET
2 By Power Rate: High Power, Medium Power, Low Power
3 By Application: Energy And Power, Consumer Electronics, Automotive, Inverter And UPS, Industrial, Other Applications
Sub-segments:
1 By Depletion Mode Power MOSFET: N-Channel Depletion Mode MOSFET, P-Channel Depletion Mode MOSFET
2 By Enhancement Mode Power MOSFET: N-Channel Enhancement Mode MOSFET, P-Channel Enhancement Mode MOSFET
What Are The Regional Insights Of The Power MOSFET Market?
In terms of regional distribution in 2024, Asia-Pacific was the largest player in the power MOSFET market. However, North America is expected to be the fastest-growing region during the forecast period with the report covering regions from Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, to Africa.
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Oliver Guirdham
The Business Research Company
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