Power semiconductor market seen reaching $68.67B by 2030

The Business Research Company says the global power semiconductor market will grow from $54.34 billion in 2026 to $68.67 billion by 2030 as electric vehicles, renewable energy and higher-efficiency power systems expand. Asia-Pacific held the largest share in 2025 and is expected to remain the fastest-growing region.

Why it matters: - Power semiconductors sit inside electric vehicles, industrial equipment, consumer electronics and renewable energy systems. - Rising demand for efficient power conversion and control is expanding the market across multiple industries. - The forecast points to continued investment in wide bandgap materials, compact designs and thermal management.

What happened: - The Business Research Company published an analysis of the global power semiconductor market on Sept. 29, 2026. - The market is projected to rise from $51.05 billion in 2025 to $54.34 billion in 2026. - The report forecasts the market will reach $68.67 billion by 2030. - The report links the growth outlook to faster adoption of electric vehicles, SiC and GaN devices, renewable energy systems and intelligent power control.

The details: - Power semiconductors are electronic components that switch, regulate and convert electrical energy in circuits. - Historical growth was supported by demand for efficient power conversion systems, wider use in electronic products, consumer electronics manufacturing, industrial machinery and automotive electrification. - The report projects a 6.4% compound annual growth rate for 2025 to 2026. - The forecast period from 2026 to 2030 implies a 6.0% CAGR. - The report says key trends include broader use of wide bandgap semiconductor technologies, demand for high power density designs, advanced power management and improved thermal management. - The market report includes regions such as Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa. - The report also adds market attractiveness scoring, TAM analysis, company scoring matrix graphics and tables, Excel-based forecasting dashboards, market hotspots infographics and updated trend analysis. - The company offers a free sample report and the full market report.

Between the lines: - EV adoption is becoming a core demand driver because power semiconductors help manage high-voltage drivetrain power, improve energy efficiency and extend battery life. - Cox Automotive reported in January 2025 that full-year EV sales in 2024 reached 1.3 million units, up 7.3% from revised 2023 numbers. - Asia-Pacific leads because of rapid industrialization, a large electronics manufacturing base and government support for electric mobility. - The emphasis on SiC and GaN signals a shift toward materials that can handle higher efficiency and power density than traditional options.

What's next: - The market is expected to keep expanding as renewable energy deployment and electrification increase. - Demand should also rise for smarter power control systems and better thermal performance in next-generation devices. - Asia-Pacific is likely to remain the fastest-growing regional market through the forecast period.

The bottom line: - Power semiconductors are moving from a niche component category to a central part of electrification, mobility and energy infrastructure growth.