Widely Used Power Semiconductors, Growing Market Size
Active Industry Expanding Production Facilities and Recruiting Talent
"Power Semiconductors, Demand Expected to Increase Rapidly"
As the power semiconductor market grows to a scale of $50 billion, business attempts to expand revenue streams are increasing. Not only semiconductor companies like Samsung Electronics but also automobile manufacturers are busy securing talent and expanding production facilities to grow their power semiconductor businesses. It is analyzed that the power semiconductor market size will also expand as electric vehicles increase in the future.
Hyundai Mobis, an automotive parts affiliate of Hyundai Motor Group, is recently recruiting experienced professionals in the power semiconductor field. They are hiring for various positions in areas such as new power semiconductor product and related technology development, as well as process development. The recruitment target is talent with more than five years of experience. This move aims to strengthen business competitiveness in the power semiconductor sector, which they have been focusing on recently.
Power semiconductors are system semiconductors that perform roles such as power conversion, current distribution, and control in electronic devices. They are used not only in home appliances but also in various mobile devices and communication infrastructure. Recently, their applications have expanded to electric vehicles, servers, robots, and more. This is why various related companies, including Hyundai Mobis, are entering the power semiconductor business, not just semiconductor companies.
In particular, power semiconductors composed of new compounds such as silicon carbide (SiC) and gallium nitride (GaN) are gaining attention. Compared to traditional silicon (Si) based power semiconductors, these have higher durability as they better withstand high temperature and high pressure environments, and they also offer significant advantages in reducing power consumption. Market research firm Mordor Intelligence forecasts that the global power semiconductor market size will grow from $41.81 billion this year to $49.23 billion by 2028, with a compound annual growth rate of 3.66%.
Samsung Electronics is expanding its compound power semiconductor business in the foundry (semiconductor contract manufacturing) sector. In July, it officially announced its entry into the GaN power semiconductor business. It has also recruited external talent, including Vice President Hong Seok-jun, who has worked at major power semiconductor companies such as ON Semiconductor in the U.S. and Infineon in Germany. It is known that Vice President Hong joined Samsung Electronics in June.
ON Semiconductor, the world's second-largest power semiconductor company, recently expanded its business scale in South Korea. It invested 1.4 trillion won in Bucheon, Gyeonggi Province, to expand its existing SiC power semiconductor production facilities, and will hold a completion ceremony on the 24th. The plan is to increase SiC power semiconductor production at the Bucheon plant by more than tenfold by 2025. The goal is to secure revenue generated by the increasing adoption of SiC power semiconductors in electric vehicles. In fact, major automobile companies such as Tesla and Hyundai Motor are increasing the proportion of SiC power semiconductor installation.
Mordor Intelligence stated, "The power semiconductor industry is rapidly growing due to the expansion of electric vehicles, the setting of carbon emission reduction targets, and clean energy production," and predicted, "Demand is expected to increase rapidly over the next few years, driving technological changes and production investments."
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