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Power Semiconductor Market Size, Share, Trends, and Forecast 2026-2034 | EVs, SiC, GaN, and Renewable Energy Demand Drive Growth to USD 60.6 Billion

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AVGO Broadcom Inc. is mentioned as a key player in the global power semiconductor market, which is projected to grow significantly. The article does not provide specific sentiment towards Broadcom itself, but its inclusion suggests it is a relevant company in this expanding market. MPWR While not explicitly named, Monolithic Power Systems is a significant player in the power semiconductor market. The article's positive outlook on the power semiconductor market, driven by EVs and renewable energy, indirectly suggests a positive environment for companies like MPWR. ON Onsemi is listed as a key company in the power semiconductor market. The article highlights growth drivers such as EVs and renewable energy, indicating a potentially favorable market for Onsemi's products. NXPI NXP Semiconductors is identified as a key competitor in the power semiconductor market. The article's projection of market growth, fueled by automotive and renewable energy sectors, suggests a positive outlook for companies like NXP. TXN Texas Instruments is named as a key player in the power semiconductor market. The article forecasts significant market growth driven by EVs and renewable energy, implying a positive environment for TI's semiconductor business. ADI Although not explicitly listed among the 'key companies', Analog Devices is a major player in the semiconductor industry and likely involved in the power semiconductor market discussed. The article's positive market growth forecast would generally be seen as neutral to positive for such a company. MU While not explicitly named, Micron Technology is a major semiconductor manufacturer. The article's focus on power semiconductors and their increasing demand in EVs and other sectors could be indirectly relevant to Micron's broader semiconductor business. AMD While not explicitly named, AMD is a significant player in the semiconductor industry. The article's focus on power semiconductors and their growing applications in areas like EVs and AI could be indirectly relevant to AMD's diverse product portfolio. INTC Intel Corporation is a major semiconductor company. While not explicitly mentioned in the context of power semiconductors, the article's positive market outlook for semiconductors, driven by AI and EVs, could be seen as a neutral to positive indicator for Intel. NVDA NVIDIA is a leading semiconductor company. While the article focuses on power semiconductors, the broader trends in AI and EVs mentioned as growth drivers are areas where NVIDIA is heavily involved, suggesting a neutral market context. QCOM Qualcomm is a major semiconductor company. The article's emphasis on growth in EVs and consumer electronics, which utilize semiconductors, provides a neutral market context for Qualcomm's business. MRVL Marvell Technology is a semiconductor company. The article's focus on power semiconductors and their increasing demand in areas like data centers and automotive suggests a neutral market environment for Marvell. SWKS Skyworks Solutions is a semiconductor company. The article's mention of growing demand for consumer electronics and communication equipment, which use semiconductors, provides a neutral market context for Skyworks. TER Teradyne is a supplier of automated test equipment, crucial for semiconductor manufacturing. The article's positive outlook on the power semiconductor market growth suggests a neutral to positive environment for Teradyne's testing solutions. AMAT Applied Materials is a key supplier of manufacturing equipment for semiconductors. The article's positive forecast for the power semiconductor market implies a strong demand for the equipment Applied Materials provides. KLAC KLA Corporation provides process control and yield management solutions for the semiconductor industry. The article's positive outlook on the power semiconductor market suggests a favorable environment for KLA's services. LRCX Lam Research Corporation designs and manufactures wafer fabrication equipment. The article's positive forecast for the power semiconductor market implies increased demand for Lam Research's manufacturing solutions. MCHP Microchip Technology is listed as a key player in the power semiconductor market. The article's positive outlook on market growth, driven by EVs and renewable energy, suggests a favorable environment for Microchip's products. STM STMicroelectronics is listed as a key company in the power semiconductor market. The article's positive forecast for market growth, driven by EVs and renewable energy, suggests a favorable environment for STMicroelectronics' offerings. AEHR Aehr Test Systems provides test solutions for semiconductor devices. The article's positive outlook on the power semiconductor market, particularly SiC and GaN, suggests a strong demand for Aehr's testing equipment. PLTR Palantir Technologies is involved in AI and data analytics. The article's mention of AI as a growth driver for the semiconductor market provides a neutral context for Palantir's business. GOOG Alphabet (Google) is a major player in AI and cloud computing. The article's mention of AI as a growth driver for the semiconductor market provides a neutral market context for Alphabet's operations. MSFT Microsoft is a significant player in AI and cloud computing. The article's mention of AI as a growth driver for the semiconductor market provides a neutral market context for Microsoft's business. AMZN Amazon is a major player in cloud computing and AI. The article's mention of AI as a growth driver for the semiconductor market provides a neutral market context for Amazon's operations. TSLA Tesla is a leading EV manufacturer. The article highlights the significant role of power semiconductors in EVs and projects growth in the EV market, providing a neutral market context for Tesla. GM General Motors is a major automotive manufacturer increasingly focused on EVs. The article's emphasis on the growing EV market and the role of power semiconductors in vehicles provides a neutral market context for GM. F Ford is a major automotive manufacturer investing in EVs. The article's focus on the growth of the EV market and the importance of power semiconductors in electric vehicles provides a neutral market context for Ford. ENPH Enphase Energy is a provider of solar energy solutions. The article's focus on renewable energy growth as a driver for power semiconductors provides a neutral market context for Enphase. SEDG SolarEdge Technologies provides solar energy solutions. The article's emphasis on the expansion of renewable energy capacity as a market driver for power semiconductors provides a neutral market context for SolarEdge.

Power Semiconductor Market Size, Share, Trends, and Forecast 2026-2034 | EVs, SiC, GaN, and Renewable Energy Demand Drive Growth to USD 60.6 Billion Dublin, Oct. 22, 2026 (GLOBE NEWSWIRE) -- "Power Semiconductor Market Report by Component, Material, End Use Industry, and Region 2026-2034" has been added to ResearchAndMarkets.com's offering.

The global power semiconductor market reached USD 46.1 Billion in 2025 and is projected to reach USD 60.6 Billion by 2034. According to the report, the market is expected to expand at a compound annual growth rate (CAGR) of 3.00% during 2026-2034. Growth is being supported by rising electric vehicle production, advances in power electronics, expanding renewable energy capacity and increasing demand for energy-efficient consumer and industrial systems.

Power semiconductors are essential to power conversion and control across electrical appliances, automotive systems, industrial machinery, telecommunications infrastructure, aerospace platforms and renewable energy installations. Manufactured using materials such as silicon carbide (SiC), germanium and gallium nitride (GaN), these components provide fast dynamic response, lower installation costs and reduced thermal dissipation compared with electro-mechanical converter systems. Their ability to manage high voltages and currents makes them integral to applications including motion control, electric drives, computer systems, wireless communication, antennas and satellite systems.

Power Semiconductor Market Trends

Expansion of the global automotive industry remains a major power semiconductor market growth driver. These devices are incorporated into steering, braking, fuel delivery and vehicle safety systems. Adoption is also accelerating across electric vehicles, plug-in electric vehicles and hybrid electric vehicles (EVs/HEVs), where power semiconductors improve converter efficiency, battery management and power switching performance.

Technological advances in x-by-wire and drive-by-wire systems are creating additional opportunities by helping vehicle manufacturers reduce weight, improve fuel efficiency and lower emissions. As automakers increase electronic content and transition toward electrified powertrains, demand for efficient and reliable semiconductor components is expected to rise steadily.

The growing use of smartphones, tablets, smartwatches, fitness bands and communication equipment is also strengthening market demand. Manufacturers increasingly require compact, lightweight and power-efficient components to support portable devices with advanced functionality. At the same time, investments in renewable energy sources and government initiatives promoting energy-efficient technologies are expanding the use of power semiconductors in power generation, transmission, storage and industrial applications.

Market Segmentation

The report analyzes the global power semiconductor market by component, material, end use industry and region, with forecasts provided at the global, regional and country levels for 2026-2034.

By component, the market is divided into:

By material, the market includes:

By end use industry, the market covers:

Regional analysis encompasses North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. The report evaluates market performance, growth prospects and key trends across these regions, along with country-level forecasts.

Competitive Landscape

The global power semiconductor market features established semiconductor manufacturers and diversified technology companies competing through material innovation, product development, manufacturing capacity and application-specific solutions. Key companies examined in the report include ABB Ltd., Broadcom Inc., Fuji Electric Co. Ltd., Hitachi Ltd., Infineon Technologies AG, Microchip Technology Inc., Mitsubishi Electric Corporation, NXP Semiconductor Inc., Onsemi, Renesas Electronics Corporation, ROHM Co. Ltd., STMicroelectronics, Texas Instruments Incorporated, Toshiba Corporation and Vishay Intertechnology Inc.

The report also assesses the industry's value chain, competitive structure, market challenges and primary growth drivers. It provides insight into historical and projected market performance, the impact of COVID-19, regional opportunities, segment-level demand and the degree of competition. These findings offer stakeholders a comprehensive view of the factors shaping the global power semiconductor market through 2034.

Key Topics Covered:

1 Preface

2 Scope and Methodology

2.1 Objectives of the Study

2.2 Stakeholders

2.3 Data Sources

2.3.1 Primary Sources

2.3.2 Secondary Sources

2.4 Market Estimation

2.4.1 Bottom-Up Approach

2.4.2 Top-Down Approach

2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Power Semiconductor Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Component

6.1 Discrete

6.1.1 Market Trends

6.1.2 Market Forecast

6.2 Module

6.2.1 Market Trends

6.2.2 Market Forecast

6.3 Power Integrated Circuits

6.3.1 Market Trends

6.3.2 Market Forecast

7 Market Breakup by Material

7.1 Silicon/Germanium

7.1.1 Market Trends

7.1.2 Market Forecast

7.2 Silicon Carbide (SiC)

7.2.1 Market Trends

7.2.2 Market Forecast

7.3 Gallium Nitride (GaN)

7.3.1 Market Trends

7.3.2 Market Forecast

8 Market Breakup by End Use Industry

8.1 Automotive

8.1.1 Market Trends

8.1.2 Market Forecast

8.2 Consumer Electronics

8.2.1 Market Trends

8.2.2 Market Forecast

8.3 Industrial

8.3.1 Market Trends

8.3.2 Market Forecast

8.4 Power and Energy

8.4.1 Market Trends

8.4.2 Market Forecast

8.5 IT and Telecommunication

8.5.1 Market Trends

8.5.2 Market Forecast

8.6 Military and Aerospace

8.6.1 Market Trends

8.6.2 Market Forecast

8.7 Others

8.7.1 Market Trends

8.7.2 Market Forecast

9 Market Breakup by Region

9.1 North America

9.1.1 United States

9.1.1.1 Market Trends

9.1.1.2 Market Forecast

9.1.2 Canada

9.1.2.1 Market Trends

9.1.2.2 Market Forecast

9.2 Asia-Pacific

9.2.1 China

9.2.1.1 Market Trends

9.2.1.2 Market Forecast

9.2.2 Japan

9.2.2.1 Market Trends

9.2.2.2 Market Forecast

9.2.3 India

9.2.3.1 Market Trends

9.2.3.2 Market Forecast

9.2.4 South Korea

9.2.4.1 Market Trends

9.2.4.2 Market Forecast

9.2.5 Australia

9.2.5.1 Market Trends

9.2.5.2 Market Forecast

9.2.6 Indonesia

9.2.6.1 Market Trends

9.2.6.2 Market Forecast

9.2.7 Others

9.2.7.1 Market Trends

9.2.7.2 Market Forecast

9.3 Europe

9.3.1 Germany

9.3.1.1 Market Trends

9.3.1.2 Market Forecast

9.3.2 France

9.3.2.1 Market Trends

9.3.2.2 Market Forecast

9.3.3 United Kingdom

9.3.3.1 Market Trends

9.3.3.2 Market Forecast

9.3.4 Italy

9.3.4.1 Market Trends

9.3.4.2 Market Forecast

9.3.5 Spain

9.3.5.1 Market Trends

9.3.5.2 Market Forecast

9.3.6 Russia

9.3.6.1 Market Trends

9.3.6.2 Market Forecast

9.3.7 Others

9.3.7.1 Market Trends

9.3.7.2 Market Forecast

9.4 Latin America

9.4.1 Brazil

9.4.1.1 Market Trends

9.4.1.2 Market Forecast

9.4.2 Mexico

9.4.2.1 Market Trends

9.4.2.2 Market Forecast

9.4.3 Others

9.4.3.1 Market Trends

9.4.3.2 Market Forecast

9.5 Middle East and Africa

9.5.1 Market Trends

9.5.2 Market Breakup by Country

9.5.3 Market Forecast

10 SWOT Analysis

10.1 Overview

10.2 Strengths

10.3 Weaknesses

10.4 Opportunities

10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

12.1 Overview

12.2 Bargaining Power of Buyers

12.3 Bargaining Power of Suppliers

12.4 Degree of Competition

12.5 Threat of New Entrants

12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

14.1 Market Structure

14.2 Key Players

14.3 Profiles of Key Players

14.3.1 ABB Ltd.

14.3.1.1 Company Overview

14.3.1.2 Product Portfolio

14.3.1.3 Financials

14.3.1.4 SWOT Analysis

14.3.2 Broadcom Inc.

14.3.2.1 Company Overview

14.3.2.2 Product Portfolio

14.3.2.3 Financials

14.3.2.4 SWOT Analysis

14.3.3 Fuji Electric Co. Ltd.

14.3.3.1 Company Overview

14.3.3.2 Product Portfolio

14.3.3.3 Financials

14.3.3.4 SWOT Analysis

14.3.4 Hitachi Ltd.

14.3.4.1 Company Overview

14.3.4.2 Product Portfolio

14.3.4.3 Financials

14.3.4.4 SWOT Analysis

14.3.5 Infineon Technologies AG

14.3.5.1 Company Overview

14.3.5.2 Product Portfolio

14.3.5.3 Financials

14.3.5.4 SWOT Analysis

14.3.6 Microchip Technology Inc.

14.3.6.1 Company Overview

14.3.6.2 Product Portfolio

14.3.6.3 Financials

14.3.6.4 SWOT Analysis

14.3.7 Mitsubishi Electric Corporation

14.3.7.1 Company Overview

14.3.7.2 Product Portfolio

14.3.7.3 Financials

14.3.7.4 SWOT Analysis

14.3.8 NXP Semiconductor Inc.

14.3.8.1 Company Overview

14.3.8.2 Product Portfolio

14.3.8.3 Financials

14.3.8.4 SWOT Analysis

14.3.9 Onsemi

14.3.9.1 Company Overview

14.3.9.2 Product Portfolio

14.3.9.3 Financials

14.3.9.4 SWOT Analysis

14.3.10 Renesas Electronics Corporation

14.3.10.1 Company Overview

14.3.10.2 Product Portfolio

14.3.10.3 Financials

14.3.10.4 SWOT Analysis

14.3.11 ROHM Co. Ltd.

14.3.11.1 Company Overview

14.3.11.2 Product Portfolio

14.3.11.3 Financials

14.3.11.4 SWOT Analysis

14.3.12 STMicroelectronics

14.3.12.1 Company Overview

14.3.12.2 Product Portfolio

14.3.13 Texas Instruments Incorporated

14.3.13.1 Company Overview

14.3.13.2 Product Portfolio

14.3.13.3 Financials

14.3.13.4 SWOT Analysis

14.3.14 Toshiba Corporation

14.3.14.1 Company Overview

14.3.14.2 Product Portfolio

14.3.14.3 Financials

14.3.14.4 SWOT Analysis

14.3.15 Vishay Intertechnology Inc.

14.3.15.1 Company Overview

14.3.15.2 Product Portfolio

14.3.15.3 Financials

14.3.15.4 SWOT Analysis

List of Figures [85]

List of Tables [7]

Companies Featured

For more information about this report visit https://www.researchandmarkets.com/r/3pgk54

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