Skip to main content

China's Power Semiconductor Market Is Expected to Reach 21.2 billion USD in 2023

Published: 8.12.2023

In recent years, with the rapid development of the Chinese semiconductor market, the power semiconductor market has also shown a strong growth trend. 


According to market research firm QYR, the size of China's power semiconductor market is expected to reach 21.2 billion US dollars in 2023. Among them, thyristor, IGBT, MOSFET and other devices are the main components of the market, occupying a large market share. 


In addition, with the development of emerging industries such as new energy vehicles, smart grids, and the Internet of Things, the demand for power semiconductors is also constantly increasing. 


China's power semiconductor market size was approximately 18.3 billion US dollars in 2021, an increase of 6.4% year-on-year. It further increased to 19.1 billion US dollars in 2022 and is expected to reach 21.2 billion US dollars in 2023. 


From the current market demand, silicon based MOSFETs, silicon based IGBTs, and silicon carbide are the main products of power semiconductor discrete devices. Data shows that in power semiconductor discrete devices, transistors represented by MOSFETs and IGBTs account for the largest proportion, approximately 28.8%. 

The power semiconductor industry chain mainly includes upstream raw materials, midstream manufacturing, and downstream terminal applications. 

Upstream raw materials mainly include semiconductor materials, packaging materials, etc., while midstream manufacturing mainly includes the manufacturing of various power semiconductor devices. 


Downstream terminal applications involve fields such as communication, automotive, industrial, aerospace, etc. 


In the industrial chain structure, midstream manufacturing is the key part, and the development of upstream raw materials and downstream terminal applications will also drive the continuous expansion of the power semiconductor market. 


In the future, performance improvement in areas such as high voltage, high temperature, low loss, and high reliability will be paid more attention. At the same time, the development of technologies such as intelligence, modularity, and systematization will also promote the progress of power semiconductors. 


In terms of manufacturing processes, advanced material growth technology, microfabrication technology, packaging technology, etc. will become the focus of research. 


At present, the Chinese power semiconductor market is showing a pattern of competition among multiple enterprises. Among them, companies such as CRRC Times Electric, SMIC International, and CSMC have strong strength and market share in the field of power semiconductors. 


In addition, international companies such as Intel and Samsung also have a certain share in the Chinese power semiconductor market. In the competitive landscape, various enterprises mainly improve their market competitiveness through technological innovation, product quality improvement, cost reduction, and other approaches. 

Stay up to date
Read industry news, product offers, and events.
Join email list