The North America Power Semiconductor Market would witness market growth of 4.2% CAGR during the forecast period (2023-2030).In the year 2019, the North America market's volume surged to 317.3 million units, showcasing a growth of 2.3% (2019-2022).
Electronic components, known as power semiconductors, are created specifically to manage high power levels in electrical circuits. They are essential in several applications, including power electronics, renewable energy systems, electric vehicles, industrial automation, and others. Power semiconductors are crucial for properly managing, controlling, and converting energy, enabling the dependable and efficient operation of contemporary electrical systems.
Power semiconductors are fundamentally solid-state electronics composed of semiconducting elements like silicon (Si) or silicon carbide (SiC). These substances have unique electrical properties that enable them to regulate the flow of electricity under certain circumstances. Diodes, transistors, and thyristors are the three main types of power semiconductors. One of the most basic power semiconductors is the diode, which allows current to flow in one direction while blocking it in the opposite direction. They are commonly utilized in rectifier circuits, where they transform alternating current (AC) into direct current (DC).
Diodes are essential for voltage regulation, power factor correction, and effective energy use. Complex power semiconductors, termed transistors, can switch and amplify electrical signals. They are commonly employed in many applications to control voltage and current. Power electronics usually use MOSFETs or metal-oxide-semiconductor field-effect transistors. They can withstand high voltages and current levels, fast switching rates, and low on-resistance. MOSFETs are employed in various devices, including inverters, power supplies, and motor drives.
The government of Mexico City has a strategic goal to increase mobility by switching to zero-emission local transportation. They intend to increase the proportion of electricity generated by clean energies from 25 to 35 percent by 2024. Government incentives for Mexican consumers include the exemption of local taxes and verifying emission control systems. Sales of EV as well as hybrid vehicles have also been boosted in Mexico by rising petrol prices and pollution alerts that prohibit the use of vehicles in public transportation. As a result of this surging demand for EVs & hybrid vehicles in the North America region is growing a need for electrically powered systems to replace traditional mechanical, hydraulic, and pneumatic loads, due to which the market is predicted to witness significant growth.
The US market dominated the North America Power Semiconductor Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $13,010.9 million by 2030. The Canada market is experiencing a CAGR of 6.5% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 5.6% during (2023 - 2030).
Based on Product, the market is segmented into Power MOSFET, IGBT, Thyristor, Power Diode, and Others. Based on Application, the market is segmented into IT & Telecom, Aerospace & Defense, Industrial, Automotive, Electronics, Energy & Power, Healthcare, and Others. Based on Material, the market is segmented into SiC, GaN, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Power Semiconductor Market is Projected to reach USD 67 Billion by 2030, at a CAGR of 4.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Infineon Technologies AG. Texas Instruments Inc., STMicroelectronics N.V., NXP Semiconductors N.V., ON Semiconductor Corporation, Mitsubishi Electric Corporation, Renesas Electronics Corporation, Toshiba Corporation, Fuji Electric Co., Ltd. and Hitachi, Ltd.
By Product (Volume, Million Units, USD Million, 2019-2030)
By Application (Volume, Million Units, USD Million, 2019-2030)
By Material (Volume, Million Units, USD Million, 2019-2030)
By Country
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