Recently, the power semiconductor market research report "Status Sothe Power Electronics 2023" released by Yole Intelligence, a semiconductor market research company under the Yole Group, contains the sales rankings of power semiconductor suppliers (discrete + modules) from 2020 to 2022.
These include Mitsubishi Electric, Fuji Electric, Toshiba, Renesas, Rohm, Infineon, STMicroelectronics, Onsemi, Vishay, Nexperia
These power semiconductor manufacturers have their own unique characteristics in development and planning
Infineon: the world’s most comprehensive and largest automotive semiconductor giant
Thanks to low-carbonization and digitalization, Infineon's revenue has achieved rapid growth in the past five years. According to Infineon’s annual report, Infineon’s full-year revenue in 2022 will be 14.218 billion euros. The year-on-year increase was 28.6%; the profit was 3.378 billion euros, a year-on-year increase of 63%; the profit margin was 23.8%, an increase of 5.1 percentage points over the previous year.
It should be noted that the company’s revenue, profits and profit margins in fiscal 2022 all hit record highs
From the perspective of business structure, the automotive electronics business accounts for the largest proportion of revenue, reaching 45%; power supply and sensing systems account for 29%, and industrial power control and safety interconnection systems both account for 13%.
Infineon occupies a leading position in the industry in multiple segments of automotive semiconductors, including automotive power devices and power supply devices. According to Infineon's research and judgment, the increase in new energy automotive semiconductors is huge and is expected to increase in the next few years. Achieve doubling growth with an average annual compound growth rate of approximately 30%
Onsemi: Power and perception are growing in resonance, and the automotive business continues to be in short supply.
In 2016, Onsemi acquired Fairchild Semiconductor's product line to complement its advantages and become the world's second largest power semiconductor supplier. Onsemi's product line is very rich and can cover most active device BOMs in new energy applications, especially high-power power devices.
Onsemi achieved revenue of US$8.326 billion in fiscal year 2022, a year-on-year increase of 24%, and revenue hit a historical record
By business unit, Onsemi Power Solutions Group (PSG) revenue was US$4.208 billion, a year-on-year increase of 22%; Advanced Solutions Group (ASG) revenue was US$2.841 billion, a year-on-year increase of 18%; Intelligent Sensing Group (ISG) Revenue was US$1.276 billion, a year-on-year increase of 42%
From the application side, the company's automotive business is still in short supply. The total revenue of the automotive and industrial terminal businesses in 2022 is US$4.65 billion, a year-on-year increase of 38.1%, which is the main driving force for revenue growth.
Onsemi mainly develops its business around power supply and power parts. Its main application terminal markets have also expanded from industry to automobile. The automobile business is also growing at the fastest rate.
Onsemi ranks second in the power semiconductor market share, and in the long run, diversified silicon, SiC and GaN products are necessary choices for power logic companies
STMicroelectronics: clear leadership in MOSFET field, strong demand in automotive and industrial markets
In the field of power semiconductors, STMicroelectronics’ main products cover SiC and high and low voltage silicon diodes, GaN power devices, RF transistors, IGBTs, MOSFETs, etc.
As a leader in traditional power semiconductors, STMicroelectronics has a clear lead in the field of MOSFETs.
In fiscal year 2022, STMicroelectronics’ net revenue was US$16.13 billion, with a gross profit margin of 47.3%; operating profit margin was 27.5%; net income was US$3.96 billion. STMicroelectronics' fiscal 2022 revenue growth driven primarily by strong demand from automotive and industrial applications
In fiscal 2022, the Automotive and Discrete Products Group (ADG) revenue share was 37%, the Microcontrollers and Digital IC Products Group (MDG) and Analog Devices revenue share was 32%, and the MEMS and Sensor Products Group (AMS) revenue share was 37%. Share is 31%
Among them, the annual operating profit of the automotive products and discrete device products department increased by 117.9%, totaling US$479.2 million, and the operating profit was 27.7%.
In addition, STMicroelectronics’ SiC-based discrete device solutions have achieved widespread success in next-generation electric vehicles. MCU and power solutions have also been widely used in new automotive domain control architectures. The scale of automotive inertial sensor business has increased year-on-year. More than 40%
Mitsubishi Electric: Occupying a dominant position in the fields of variable frequency home appliances, industry and new energy medium and high voltage power semiconductors
As Japan's leader in power semiconductors, Mitsubishi Electric occupies a dominant position in the fields of medium and high-voltage power semiconductors such as single-tube, IPM, high-speed rail, power grids, and electric vehicles.
According to Mitsubishi Electric's 2022 financial report, the semiconductor business revenue was 281.5 billion yen and the operating profit rate was 29.2 billion yen, accounting for only 5.6% of total revenue and 11.1% of the operating profit rate. Among the five business divisions, Ranked fourth; however, the annual revenue growth rate of 16.6% and the revenue profit growth rate of 73.8% are both ranked first among the five business divisions, and the infrastructure, industrial platform, home appliances and life, and B2B platform divisions all rely on Semiconductor Business Unit Maintains Competitiveness
Vishay: The largest manufacturer of low power MOSFETs
Vishay is the world's largest manufacturer of low-power MOSFETs. Its products are widely used in automobiles, battery management systems, LED lighting and other fields.
Recently, South Korea's 8-inch pure wafer foundry Qifang Semiconductor announced that the company has signed a long-term supply agreement with Vishay Group for a variety of power MOSFET products.
Under this agreement, Vishay has secured a stable foundry supplier for power MOSFETs, while Qifang Semiconductor has reached cooperation with a large customer of automotive power discrete devices, which will increase its automotive semiconductor sales share in the long run.
ROHM: A well-known manufacturer in the field of SiC semiconductors in Japan
Affected by the growing demand for power semiconductors in the electric vehicle market, power device manufacturer ROHM has continued to grow in performance in recent years.
In 2022, due to the increase in demand for automotive power semiconductors, consolidated revenue will increase by 12.3% year-on-year to 507.8 billion yen, setting a record high; consolidated operating profit will increase by 29.2% year-on-year to 92.3 billion yen, and consolidated net profit will A year-on-year increase of 20.3% to 80.3 billion yen
Rohm will begin mass production of SiC power semiconductors in December 2022, mainly for inverter applications. It makes power consumption more efficient and can add about 10% extra range when equipped on an electric vehicle
Rohm said that in the rapidly developing electric vehicle market, SiC power components are an important technology to achieve higher efficiency, and the company is accelerating the production of SiC power components.
Toshiba: Mainly used in power supply, energy saving and power saving
Toshiba's full-year operating income in 2022 is 3,361.7 billion yen, a year-on-year increase of 0.7%; device business revenue such as power semiconductors and mechanical hard disks (HDD) is 797.1 billion yen; infrastructure business revenue such as railways and water treatment is 693.2 billion yen, and power generation Energy business revenue of 669.5 billion yen
Toshiba's discrete device products mainly include power devices, isolation devices, and small signal devices, which are mainly used in power supply, energy saving, and power saving. Toshiba stated that power devices are the core of its development strategy and will be committed to improving the performance of various products using power electronics technology in the future.
Fuji Electric: Provides key components in power electronic equipment
The power semiconductors developed and produced by Fuji Electric are key components in power electronic equipment. They can create important values such as stable energy supply, automation, and energy conservation. Fuji Electric's net sales in 2022 were 1,009.4 billion yen (approximately US$7.28 billion), compared with 910.2 billion yen the previous year. Fuji Electric has said it will increase capital expenditures on power semiconductors amid rising demand for electric vehicles and renewable energy.
Renesas Electronics: Strong demand for 40nm microcontroller-centered automotive business
Renesas Electronics' revenue in 2022 will be 150 million yen, a year-on-year increase of 51%; operating profit will be 424.17 billion yen, a year-on-year increase of 144.0%. Renesas pointed out that the strong demand for the automotive business centered on 40nm microcontrollers will continue, but in terms of industrial, infrastructure and IoT businesses, centered on PC, mobile, and consumers, the adjustment phase will continue
Nexperia: Diode products and small MOSFETs have advantages, and the automotive business is booming
Compared with the strong market share of American, Japanese and European manufacturers, China only has Nexperia in the top ten in the global power semiconductor list.
Nexperia was once the standard product division of Philips Semiconductor and has a development history of about 60 years. It was acquired by Wingtech Technology in 2019. It currently has more than 14,000 employees and 6 self-owned factories around the world. Its product line includes diode products and Small size MOSFET occupies a considerable advantageous position
Nexperia's total revenue in 2022 will be US$2.36 billion, a year-on-year increase of 10.7%. Data shows that the company has achieved good growth in key areas such as automotive and industry.
Since the merger of all Nexperia businesses in 2020, the proportion of semiconductor business revenue has increased from 19% to 27%, while ODM business revenue has dropped from 81% to 68%, mainly due to the strong demand in the automotive industry market. Since Anshi’s downstream products are automotive and industrial power, consumer electronics does not account for a high proportion.
In the first half of this year, Nexperia's revenue from the automotive field accounted for 61.05%. The market demand brought about by the rapid development of new energy vehicles has opened up medium and long-term growth space for it.
The outbreak of new energy vehicles has brought new growth points for power semiconductors. When the entire industry is busy destocking, power semiconductors have become the only exception. The prices of Onsemi and Infineon’s automotive-grade MOSFETs and other products continue to remain high, and IGBTs are always in short supply.
SiC becomes a new development opportunity
The global popularity of new energy vehicles is accelerating, and power density standards continue to improve, providing opportunities for the implementation of the SiC industry. In the current electric vehicle development roadmaps formulated by various countries, the power density standard is approaching the performance limit of mainstream SiC devices, making SiC devices an ideal substitute.
Global power semiconductor giants are also unanimously optimistic about the long-term development of SiC and have significantly expanded downstream production capacity.
In August this year, Infineon announced an investment of 5 billion euros to significantly expand the 8-inch SiC chip factory in Kulim, Malaysia. The SiC revenue target for fiscal year 2025 will exceed 1 billion euros. The revenue potential of SiC in Villach and Kulim, Austria, in 2030 will reach 7 billion euros, with a global market share of 30%
In March this year, Mitsubishi Electric announced that it would invest approximately 100 billion yen to build an 8-inch SiC wafer fab and enhance related production facilities at its existing factory site in Kikuchi City, Kumamoto Prefecture, to increase the production of SiC power semiconductors. Mitsubishi Electric predicts that by 2030, Mitsubishi Electric’s SiC power module revenue will increase to more than 30%
In May, Onsemi said it planned to invest US$2 billion to provide SiC chip production; in June this year, STMicroelectronics announced that it would establish an 8-inch SiC device manufacturing joint venture with Sanan Optoelectronics in China, and Sanan Optoelectronics will build an 8-inch liner. Bottom factory. The joint venture is expected to go into production in the fourth quarter of 2025 and will help STMicroelectronics achieve its goal of SiC revenue exceeding US$5 billion in 2030
The production of SiC has been the unanimous goal of power semiconductor manufacturers. Fuji Electric aims to increase the proportion of SiC power semiconductor revenue to about 10% in 2025, and aims to increase the global SiC power semiconductor market share to 20% during 2025-2026.
Toshiba plans to expand SiC power semiconductor production at its Himeji Semiconductor Plant to three times that of 2020 in fiscal 2023, and then plans to further expand to 10 times in fiscal 2025, with the goal of obtaining more than 10% of the global market share by 2030 at the latest Rate
Rohm pointed out that the factory in Chikugo City, Fukuoka Prefecture has started mass production of SiC power semiconductors in December 2022, and also plans to build a new factory, with the goal of increasing the monthly production capacity of SiC power semiconductors (calculated on 6-inch wafers) in 2025. to 6.5 times in 2021 and further expanded to 35 times in 2023.
