INDUSTRY TRENDS - POWER DEVICES
The power electronics market is definitely in excellent health (by Anna Villamor of Yole Développement)
The power electronics industry is enabling mega trends and will reach almost US$41.5 billion in 2023. This market showed impressive general growth in 2018 to achieve US$34.4 billion revenue at the end of the year. To be more precise, the discrete device market and the power IC1 market will grow with a CAGR2 2017- 2023 of 2.7% and 4.6% respectively, whereas the power module market will have a CAGR2017-2023 of almost 8%.
There are several reasons for this growth, but as confirmed by the 18% increase in 2017 in year-on-year global IGBT4 module sales, the major drive comes from dynamic EV/HEV power market. Currently EV/HEV represents 29% of IGBT modules consumption, while by 2023 Yole Développement estimates it will represent over 43%. A similar situation is found in MOSFETs for EV/HEV applications, with a5.9% market increase in 2017 over 2016. MOSFETs are widely used in various EV/HEV converters, in battery chargers handling roughly 3 to 6kW, in 48V DC/DC8 converters and in micro-inverters for the stop-start function9. Power ICs for automotive is forecast to reach US$2 billion by 2023 with a CAGR of 6.2% from 2018 to 2023. This is possible not only because of the expected increase in power trains to cater for the increase of EV/HEV sales, but also due tothe addition of ADAS10 which is the predominant safety product offered both by luxury automobile makers such as Audi, BMW, Mercedes-Benz, Tesla, etc. and for mass market passenger vehicles such as those offered by VW, Toyota, Honda, Ford, etc.