Blockchain Press Releases
Power semiconductor Market to Reach $75.1 billion, Globally, by 2032 at 4.5% CAGR: Allied Market Research
The Power semiconductor market is driven by factors, including a surge in the installation of solar photovoltaic panels for electricity generation, an increase in demand for power electronics modules across various industry verticals, and the HVDC and smart grid initiatives by the government.
PORTLAND, Ore., Aug. 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Power Semiconductor Market by Material (SiC, GaN, and Others) Product (Power MOSFET, IGBT, Thyristor, Power Diode, and Others), Industry Vertical (IT & Telecom, Aerospace & Defense, Industrial, Energy & Power, Electronics, Automotive, and Healthcare): Global Opportunity Analysis and Industry Forecast, 2023–2032“. According to the report, The global power semiconductor market was valued at $48.9 billion in 2022, and is projected to reach $75.1 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.
Power semiconductor are efficient electronic devices with high power ratings. These reliable devices are specifically designed to withstand high voltage and current with lesser losses. Power semiconductor are produced by using semiconducting materials like silicon (Si) or silicon carbide (SiC). Power semiconductor are critical components in all kinds of power electronics equipment including uninterruptible power systems (UPSs) and inverters.
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Prime determinants of growth
The Power semiconductor market analysis is anticipated to expand significantly during the forecast period owing to a surge in the installation of solar photovoltaic panels for electricity generation, an increase in demand for power electronics modules across various industry verticals. Additionally, the market for Power semiconductor is expected to benefit from the HVDC and smart grid initiatives by the government. However, complexity in the supply chain and designing process of SiC semiconductor technology poses a restraint to the growth of the Power semiconductor market during the forecast period.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2022–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$48.9 billion |
|
Market Size in 2032 |
$75.1 billion |
|
CAGR |
4.5 % |
|
No. of Pages in Report |
430 |
|
Segments covered |
Material, Product, Industry Vertical, and Region. |
|
Drivers |
Rise in the installation of solar photovoltaic panels for electricity generation Increase in demand for power electronics modules across various industry verticals |
|
Opportunities |
HVDC and smart grid initiatives by the government |
|
Restraints |
Complexity in supply chain and designing process of SiC semiconductor technology |
Covid-19 Scenario
- COVID-19 has a significant influence on both the economy and consumers. To curb the spread of the virus, manufacturing centers for electronics, including those producing semiconductors, were temporarily shut down. As a consequence, the semiconductor market’s supply chain has been severely affected, leading to shortages of raw materials, intermediate components, and finished products.
- The lack of business continuity has resulted in adverse effects on revenue, shareholder returns, and overall financial performance of power the semiconductor industry.
The SiC segment is anticipated to dominate in terms of revenue during the forecast period
Based on material, the SiC segment accounted for nearly three-fifths of the total revenue in the global Power semiconductor market in 2022, and it is expected to continue its dominant position throughout the forecast period. The primary factors contributing to its dominance and growth are its superior material properties, including higher breakdown electric field strength, wider bandgap, and lower thermal expansion compared to conventional silicon semiconductors. Moreover, the GaN segment is projected to manifest the highest CAGR of 5.4% from 2023 to 2032, driven by include increasing demand in 5G infrastructure for high-frequency and high-power RF devices, growing adoption in electric vehicles (EVs) and renewable energy systems for enhanced efficiency, emerging applications in LiDAR technology for autonomous vehicles, and advancements in GaN technology leading to improved performance and cost-effectiveness.
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The power MOSFET segment garnered the major share in 2021
By product, the power MOSFET segment accounted for nearly one-fourth of the global Power semiconductor market share in 2021. This is attributed to its widespread use in various electronic devices for switching and amplifying electronic signals. Its compact size and ability to be integrated into single chips enable efficient power conversion and management, contributing to its significant market presence. Additionally, the increasing demand for electric devices, renewable energy systems, and electric vehicles further drives the adoption of power MOSFETs, solidifying their position in the Power semiconductor market. However, the IGBT segment would cite the fastest CAGR of 5.44% throughout the forecast period due to the increasing adoption of IGBTs in electric vehicles, consumer electronics, and renewable energy systems driving their demand in various industries. The ability of IGBTs to handle higher voltage and current levels, coupled with their fast switching rates and reduced power losses, makes them ideal for high-power applications.
The IT and Telecom segment is expected to dominate in 2022
Based on industry verticals, the IT and Telecom segment emerged as the market leader in the global Power semiconductor market in 2022, holding the highest market share of more than one-fifth of the revenue. This dominant position is attributed to the extensive adoption of Power semiconductor in various critical applications within the IT and Telecom industry. Power semiconductor are widely used in base stations, space applications, optical systems, satellite communication, radar systems, and wireless applications, among others, to enable efficient power management and signal amplification. Moreover, the energy and power segment held the major share of 18.9% in 2032. However, the automotive segment is expected to experience the fastest CAGR of 6.21% from 2023 to 2032. The remarkable growth of the automotive segment can be attributed to the increasing adoption of electric and hybrid vehicles, advancements in autonomous driving technologies, rising demand for vehicle connectivity and V2X communication, the need for high-efficiency power conversion, the popularity of advanced lighting systems, and the implementation of stricter emission regulations.
Asia-Pacific to maintain its dominance by 2032.
Based on region, Asia-Pacific dominated the Power semiconductor market revenue in 2022, representing nearly half of the global market share. This region is expected to witness the fastest CAGR of 5.33% from 2023 to 2032. The primary reasons for this dominance are the rise in industrialization, rapid urbanization, and increasing demand for power modules in various industries, including automotive, renewable energy, and electric grid infrastructures, are driving the adoption of Power semiconductor. Additionally, the availability of massive power plants generating high voltage power, coupled with the region’s growing population and energy consumption, further contributes to the dominance of Asia-Pacific in the Power semiconductor market.
Leading Market Players: –
- Fuji Electric Co., Ltd.
- Infineon Technologies
- Mitsubishi Electric Corporation
- Hitachi, Ltd.
- NXP Semiconductors N.V.
- ON Semiconductor Corporation
- Renesas Electronics
- STMicroelectronics N.V.
- Texas Instruments Inc.
- Toshiba Corporation
The report provides a detailed analysis of these key players in the global Power semiconductor market. These players have adopted different strategies such as agreements, innovations, expansions, product launches, collaborations, and others to increase their market penetration and strengthen their position. in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Power semiconductor market analysis and Power semiconductor market outlook from 2021 to 2031 to identify the prevailing market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Power semiconductor market trends, key players, market segments, application areas, and market growth strategies.
Power Semiconductor Market Key Segments:
By Product
- Silicon Carbonate (SiC)
- Gallium Nitride (GaN)
- Others
By Application
- IT and Telecommunication
- Consumer Electronics
- Automotive
- Aerospace and Defense
- Transportation
- Medical
- Energy and Power
- Others
By Component
- Discrete
- Module
- Power Integrated Circuits
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SHANGHAI, March 18, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a leading Bitcoin mining company with an automotive transaction service in China, today announced that it has been included in the Bitwise Bitcoin Standard Corporations ETF (NYSE Arca: OWNB), launched by Bitwise Asset Management on March 11, 2025. The exchange-traded fund (ETF) tracks the Bitwise Bitcoin Standard Index, providing investors with exposure to forward-looking publicly traded corporations holding a minimum of 1,000 Bitcoins on their balance sheets.
“We are proud to be included in the recently launched Bitwise Bitcoin Standard Corporations ETF. Our inclusion highlights the industry’s acknowledgement of our strategic pivot to Bitcoin mining and significant achievements in such a short time,” said Mr. Jiayuan Lin, Chief Executive Officer of Cango. “As a forward-looking company, our future-ready business model ensures we are well-positioned for sustained growth, global expansion, and operational flexibility in the Bitcoin mining sector in 2025 and beyond.”
Since transitioning to a capital-light Bitcoin mining model in Q4 2024, Cango has achieved a number of milestones, including leading the industry in productivity per hash rate with 17.81 Bitcoin per EH/s and securing a hashrate of 32 EH/s, ranking 3rd globally.
About Cango Inc.
Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Headquartered in Shanghai, China, Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Cango may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Cango’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Cango’s goal and strategies; Cango’s expansion plans; Cango’s future business development, financial condition and results of operations; Cango’s expectations regarding demand for, and market acceptance of, its solutions and services; Cango’s expectations regarding keeping and strengthening its relationships with dealers, financial institutions, car buyers and other platform participants; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Cango’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Cango does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact
Yihe Liu
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: [email protected]
Helen Wu
Piacente Financial Communications
Tel: +86 10 6508 0677
Email: [email protected]
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Blockchain Press Releases
BingX Levels Up Trading Experience with CScalp’s Advanced Features & Fee Discounts
PANAMA CITY, Panama, March 18, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce its integration with CScalp, a free and powerful trading terminal designed for active cryptocurrency and futures traders. This partnership aims to provide BingX users with advanced trading tools and a seamless trading experience across multiple exchanges.
CScalp is renowned for its robust features tailored for scalping and intraday trading. The platform allows traders to operate across multiple exchanges and trade different instruments within a single interface. Its user-friendly interface and comprehensive tools are optimized for quick market analysis, one-click order placement, and efficient position management.
With this integration, BingX users can now leverage CScalp’s capabilities to enhance their trading strategies. The platform’s features, such as multi-account management, stable connection, and customizable workspace, will enable users to execute trades more efficiently and effectively. BingX users can also benefit from discounts on exchange fees, access to trading signals, and an active trader community, fostering a more informed and cost-effective trading experience.
“We are thrilled to integrate BingX with CScalp, providing our users with a powerful tool to enhance their trading experience”, said Vivien Lin, Chief Product Officer of BingX. “This collaboration underscores our commitment to offering innovative solutions that cater to the diverse needs of our trading community.”
This integration not only benefits individual traders but also strengthens BingX’s position in the market by offering a more versatile and user-centric platform. By aligning with CScalp, BingX continues to demonstrate its dedication to providing cutting-edge tools and services that empower its users to navigate the dynamic cryptocurrency trading landscape with confidence.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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Blockchain Press Releases
HTX Ventures: Striking a Balance between Compliance and Innovation in a Shifting Regulatory Landscape
SINGAPORE, March 18, 2025 /PRNewswire/ — HTX, a leading crypto exchange, has been ranked as the “Top 3 Exchanges for EUR-Stablecoin Trading Activity” in a recent CoinDesk report titled “MiCAR: The Institutional Playbook for Europe’s Digital Asset Market“. The report explores key trends shaping the European digital asset market with the implementation of Markets in Crypto-Assets Regulation (MiCAR) and highlights that HTX achieved a monthly average EUR-stablecoin trading volume of €48 million, with a notable volume of €33 million in November 2024, ranking third following Binance and Coinbase.
This surge in EUR-denominated trading coincides with the regulatory shifts. Regulatory clarity has become a key driver of institutional adoption and market confidence. The full rollout of MiCAR represents a major milestone for the industry, offering a unified framework that spans across 27 European Union (EU) member states. While MiCAR streamlines compliance and fosters innovation, it also brings along complex challenges that exchanges must navigate. HTX Ventures explores both the opportunities and hurdles that come with this landmark regulation.
Alec Goh, Head of HTX Ventures, said, “The implementation of MiCAR is a major step in the right direction for the crypto industry, providing much-needed regulatory clarity and fostering an environment conducive to institutional adoption. As jurisdictions worldwide become more crypto-friendly, a united framework like MiCAR will accelerate innovation while ensuring robust compliance. At HTX Ventures, we see this as an opportunity to drive the development of on-chain compliance tools, support the emergence of compliant DeFi solutions, and bridge the gap between traditional finance and digital assets.”
Opportunities:
- Unified Regulatory Framework Reduces Costs and Boosts Market Confidence
MiCAR covers all 27 EU member states through a “single license” approach, enabling exchanges to significantly reduce compliance costs across borders. This unified regulatory framework provides a clear and stable regulatory environment for the market, increasing confidence and participation among institutional investors while positioning Europe to becoming the world’s largest compliant digital asset market. - Technological Innovations Drive On-Chain Compliance Tools
To meet MiCAR’s stringent anti-money laundering (AML) and reserve monitoring requirements, exchanges can actively explore compliance tool innovations, including:- Using oracle networks to modularize AML rules and reserve monitoring, executing them on-chain for real-time data transparency.
- Adopting zk-SNARKs to build an on-chain central platform for regulatory data, enabling transaction data desensitization to balance regulatory transparency with user privacy.
- Leveraging account abstraction technology (ERC-4337) to integrate KYC processes into non-custodial wallets, lowering barriers for traditional financial institutions to access DeFi.
- New Opportunities for the Convergence of Traditional and Crypto Assets
With platforms such as Coinbase launching securitized tokens, exchanges can introduce real-world asset (RWA) trading. This includes income-based stablecoins backed by US stocks or Treasuries, enabling users to leverage assets like USDT for multi-asset allocation and global liquidity matching.
Challenges:
- High Costs and Technical Complexity of Compliance
MiCAR imposes strict requirements on stablecoin issuers and Crypto Asset Service Providers (CASPs), including adequate reserves, regular audits, and robust anti-money laundering measures. Exchanges must invest significantly in R&D to integrate compliance tools, data desensitization techniques, and on-chain regulatory platforms without compromising market fluidity.
- Uncertainty in the Dynamic Policy Environment
With regulatory policies evolving rapidly, exchanges must establish multi-chain testing environments and collaborate with regulatory-friendly regions (e.g., Lithuania, Malta) for cross-border stress tests and regulatory scenario simulations. This requires continuous investment, with risks at the policy interpretation and implementation levels.
- Security Risks and Stringent Custody Requirements
Following high-profile incidents like FTX, MiCAR has introduced rigorous digital asset custody requirements, mandating bank-level security measures to prevent hacking and asset loss. As DeFi integrates with traditional financial regulations, exchanges must address both technical vulnerabilities and evolving security risks.
HTX Ventures firmly believes that under a clearer regulatory framework such as MiCAR, exchanges can achieve a win-win situation through technological innovations and global asset allocation, balancing compliance with market innovation. Moving forward, the firm will continue to leverage its insights and expertise to actively explore on-chain compliance tools, expand RWA trading, and build a dynamic testing environment, navigating regulatory complexities and ensuring that crypto innovation remains aligned with long-term institutional adoption and market sustainability.
– End –
About HTX Ventures
HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.
HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.
Feel free to contact us for investment and collaboration at [email protected].
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.
For more information on HTX, please visit the HTX Square, or https://www.htx.com/, and follow X, Telegram, Discord. For further press enquiries, please contact [email protected].
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