Power semiconductors are mainly used as switches and rectifiers in electronic components, and are semiconductor materials such as germanium, gallium arsenide, and tantalum nitride. They are electrical components obtained after a series of processes such as electrical property adjustment.
The application of power semiconductors is very wide, from tens of milliwatts of headphone amplification system to high-voltage DC transmission process of thousands of megawatts; from energy storage, home appliances, To IT products, network communications, as long as it is in the field of electricity, it exists. In the industrial structure (as shown below), discrete devices mainly use power diodes, thyristors, MOSFETs and IGBT modules as the four largest components.
(Source: WSTS) Global Power Semiconductor Component Market Structure
The application of power semiconductors is very extensive, and the market size is as high as tens of billions of dollars. According to Yole data (as shown below), the market size of global power semiconductor discrete devices in 2018 is 36.3 billion US dollars, expected to 2022 The annual growth rate is 42.6 billion US dollars, and the compound annual growth rate is 5.43%.
As for vendor distribution, Infineon accounts for approximately 18.5% of the global power semiconductor market based on IHS statistics (see below). In addition, the top five companies in the world are all American, European and Japanese companies, accounting for 50% of the total market.
In addition, there are no Chinese companies in the top ten companies in the world. It reflects that there is still a lot of room for Chinese manufacturers in the power semiconductor industry.
China has a huge demand for power semiconductors, accounting for 43% of the global total, far exceeding the first Two Americans (14%),And as China's environmental awareness has gradually increased, the demand for power semiconductor components has also expanded.
However, China is almost passive in the field of power semiconductor components, including the capacity of international manufacturers to set up factories in China, China's self-sufficiency rate is only 10%. The main reason is that China has a late start in the power semiconductor field, low technical standards, incomplete product lines, and small scale of enterprises.
Two major applications for power semiconductors: automotive and communications
Power semiconductors Especially MOSFETs and IGBTs are the core of automotive electronics. Regardless of the pressure sensor in the car engine, or the steering, shifting, braking in the drive system, and the operation control of the instrument such as the lamp and the instrument panel, the semiconductor power components are indispensable.
And new energy vehicles use more power semiconductors than traditional fuel vehicles. According to the analysis of Strategy Analytics, on traditional fuel vehicles,Power semiconductors account for 21% of the total automotive semiconductors; on pure electric vehicles, this ratio is increased to 55%.
Another major application area - the communication industry requires power semiconductors in base stations, switches, routers, etc., where the base station has the largest demand, and the proportion is about 50%.
In addition to entering the 5G generation, 5G's high-flow data processing makes the base station power consumption 3 times that of the 4G base station, so the 5G base station brings more power. Management needs, have the opportunity to drive a wave of power semiconductor market prosperity.
On the other hand, the corresponding consumer electronics devices such as mobile phones of the 5G generation have seen a significant increase in demand for power semiconductors.
In terms of the increase in the number of PAs, the demand for GaAs power devices will be stimulated, and the large data transmission of 5G mobile phones will also drive the demand for mobile power management ICs. At the same time, Massive MIMO, the core technology of 5G, also significantly increases the demand for RF components composed of MOSFETs.
According to the China Institute of Industrial Information (as shown below), the communications power semiconductor market will rise from 5.745 billion in 2017 to 7.081 billion in 2021.
(Source: China Industrial Information Research Institute)
Power semiconductor landscape and land plant layout
Market Landscape: The pattern is mature, the United States has an absolute leading position in this field; Europe also has good strength in power ICs and power discrete devices; although Japan has a large number of manufacturers, the overall market is not high. Power IC downstream core products - power IC, by TI Leading by companies such as Dialog, Qualcomm and Maxim.
Luchang Opportunities: In the short term, the land factory cannot gain an advantage.
Market Structure: Mature technology and low market entry thresholdFocus on production processes and cost control. At present, the leading manufacturer is Vishay, with 11.7% of the market, and the market share of 2-7 is 5% to 8%. The first gap is not very obvious.
Luchang Opportunity: Due to the relatively low threshold of production technology, China has the advantage of labor cost, so the land plant can be competitive. Since 2014, the number of exports of Chinese diodes and related components has continued to exceed the value of imports.
Market Layout: Luchang is mainly focused on low voltage MOSFETs In the field, medium and high voltage MOSFETs are the world's largest manufacturers. Infineon accounts for nearly 30% of the Chinese market. As for China Silan and Jilin Huawei, it only accounts for 2% and 1.1%. In the field of low-voltage MOSFETs, the luzhou is behind the international giants from 0.5 to 1 generation, and the high-voltage part is one to two generations behind.
Luchang Opportunity: Luchang has the potential to compete with international big companies in the low-pressure field.However, short-term visibility in the high-pressure sector is low.
Market landscape: Infineon, Mitsubishi Electric, Fuji TV, Germany SEMIKRON occupies the world More than 70%. Lujia has China CRRC, Jiaxing Star, BYD, and Silan Micro to invest in this field, but compared with international leaders, the strength gap is very large.
Luchang Opportunities: In the areas of industrial control, white goods, and motor trains, land plants are more competitive. Some of Silan's products have entered the white goods supply chain, while CRRC, BYD and other companies have made breakthroughs in rail transit and automotive.