According to IHS Markit data, China is the world's largest consumer of power semiconductors. In 2018, China's power semiconductor market demand reached US$13.8 billion, with a growth rate of 9.5%, accounting for 35% of global demand. It is estimated that China's power semiconductor market will reach US$15.9 billion in 2021, with an annual growth rate of 4.8%, slightly higher than the global growth rate. The huge market demand also means that this local manufacturer has a lot of room for import substitution.
At present, the domestic power semiconductor industry chain is improving day by day, and technology is also making breakthroughs. According to Yole data, in terms of diodes and BJT devices with lower technology and process levels, the supply rate of Chinese power semiconductor manufacturers is close to 50%. However, in the field of IGBT modules, IGBT single tubes and MOSFETs, the core components of power semiconductors, the average self-sufficiency rate of domestic manufacturers' products is only 38%.
The analysis of the research report of Great Wall Securities believes that MOSFET and IGBT have excellent characteristics and broad application prospects, and are expected to become the semiconductor power devices with the strongest growth in the next five years, and there is huge room for import substitution.
With the continuous emergence of new applications in the fields of industry, automobiles, wireless communications and consumer electronics, and the increasingly urgent demand for energy conservation and emission reduction, my country's power semiconductors have a huge market demand. The best breakthrough.
In recent years, many domestic power semiconductor manufacturers have emerged, and they have made great preparations in the high-end field.
Last week (August 19), Wingtech's 12-inch automotive-grade power semiconductor automated wafer manufacturing center project officially settled in Shanghai Lingang. The total investment of the project is 12 billion yuan, and the annual production capacity is expected to be 360,000 pieces. Since Wingtech completed the acquisition of Nexperia, a world-renowned semiconductor IDM company for 33.8 billion yuan in 2019, it has also become a leader in the domestic power semiconductor industry.
Nexperia, headquartered in Nijmegen, the Netherlands, has more than 60 years of experience in semiconductor R&D and manufacturing. Its predecessor was the Philips Semiconductors Standard Products Division. Nexperia has an annual production capacity of more than 100 billion units (all of which are automotive-grade products), leading the world in various segments, with the world's largest diode and transistor shipments, the world's second largest logic chip, and the world's largest ESD protection device. 1. The world's second largest automotive power device.
The completion of this acquisition has also made Chinese manufacturers among the top 20 automotive semiconductor manufacturers in the world. In addition, due to the high barriers formed by the automotive semiconductor supply chain and product verification cycle, the global automotive semiconductor industry pattern is very stable, and there are not many new players with scales. The fastest growing value.
In addition, China Resources Micro is also a major domestic enterprise with the R&D and manufacturing capabilities of all mainstream MOSFET device structures. The devices produced include trench gate MOS, planar gate VDMOS and super junction MOS, etc., and are currently one of the few domestic companies that can provide -100V-1500V range. A company that produces a full range of low, medium and high voltage MOSFET products. According to IHS Markit statistics, in terms of sales, China Resources Micro ranks third in the domestic MOSFET market, second only to Infineon and ON Semiconductor.
In addition, there is Jiejie Microelectronics, which has a domestic market share of 45% in the subdivision of thyristors and protective devices, second only to overseas giants such as ST and NXP. There are also domestic manufacturers such as Yangjie Technology, Taiji Co., Ltd., China Microelectronics, Star Semiconductor, and New Energy Conservation, which have also grown rapidly in recent years.
In the future, with the rapid growth of domestic manufacturers and changes in the external environment, the urgency of localization of the supply chain in China's power semiconductor market will become stronger and stronger. Improving technology and products and laying out high-end core components will be an important direction for breakthroughs in the "Chinese core" of power semiconductors.