IC insights said that the continuous growth of power semiconductor sales was mainly due to the fact that the average sales price (ASP) of products in this large discrete semiconductor market segment reached the highest increase in the past decade. It is expected that the average sales price of power semiconductor will increase by 8% year on year in 2021 and 11% year on year in 2022.

    In 2021, the sales of power semiconductor increased by 26%, mainly because the unit shipment increased by 13%, and the bottleneck of capacity expansion drove the growth of ASP. A series of record high sales of power semiconductor is expected to end in 2023. At that time, due to the slowdown of global economic growth next year and a 4% drop in the average sales price of equipment, the revenue is expected to decline by 2% to $24 billion. The power semiconductor market is expected to start another growth cycle in 2024, and the annual sales will grow steadily to USD 28.9 billion by 2026. According to the updated outlook in the third quarter of 2022, the compound annual growth rate (CAGR) is 5.5%.

    Since 2021, the price of power semiconductor has been rising. At that time, many system manufacturers began to increase their output after the Covid-19 virus pandemic and the global emergency blockade in 2020. The tight supply and shortage of power transistors and other widely used semiconductors have kept the average sales prices of many manufacturing industrial sectors (especially automobiles and industrial equipment) high. Despite the recent slowdown in economic growth, consumers and companies have tightened their belts to cope with high inflation, and the Federal Reserve has raised interest rates to cope with the risk of a full-blown recession.

    It is estimated that the average selling price of power semiconductor will increase by 11% in 2022, which is the highest growth rate since the recovery from the economic recession caused by the financial crisis in 2007-2008 in 2010. In 2020, ASP of power semiconductor will increase by 11% to about US $0.24. Since then, the average selling price has increased at a compound annual growth rate of 3.3%, slightly higher than 0.35 dollars this year. Before the growth rate of 8% in 2021 and the expected growth rate of 11% this year, the average sales price of power semiconductor will only increase at a compound annual growth rate of 2.1% in the 10 years before the global Covid-19 virus crisis in 2020.

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