The world's top ten power semiconductor manufacturers in 2021: China's only on the list!

Omdia recently released the revenue ranking of major manufacturers in the power semiconductor field in 2021. Half of the top ten companies in the list are Japanese companies, namely Mitsubishi Electric (4th), Fuji Electric (5th), Toshiba (6th), Swiss Sa (9th), ROHM (10th), the revenue of the five companies has generally maintained about one-third of the total revenue of the list in the past three years.

From the perspective of manufacturers' business trends, Infineon and STMicroelectronics, the two major European power semiconductor manufacturers, are rapidly migrating to the 12-inch process, and the American manufacturer ON Semiconductor is also expected to fully introduce the 12-inch process after 2023. In contrast, Japanese manufacturers The migration from 8 inches to 12 inches has been slower.

IC Insights: Top 10 global semiconductor companies account for 57% of total market share in 2021

Recently, IC Insights, a world-renowned semiconductor data analysis organization, updated its second quarter report. The report analyzes the market shares of major semiconductor suppliers, excluding pure-play foundries (see chart below). Although there is a small double-counting effect on IDM foundry revenue, it is not enough to significantly change the overall conclusion.

In 2021, the top 50 semiconductor suppliers, excluding pure-play foundries, will account for 89% of the total global semiconductor market of $614.6 billion, an increase of 8 percentage points from the 81% share of the top 50 companies in 2010. The top 10 semiconductor suppliers accounted for 57% of the total, with the top 5, top 10 and top 25 companies increasing their share of the global semiconductor market in 2021 by 8, 9 and 11 percentage points, respectively, compared to 2010.

 

 

In 2021, Japanese companies will occupy 5 of the top ten sales of power semiconductor companies, namely Mitsubishi Electric (4th), Fuji Electric (5th), Toshiba (6th), Renesas (9th), ROHM ( the 10th). In addition, in the three years from 2019 to 2021, the total sales of these five Japanese companies always accounted for about 32%~33% of the total sales of the top ten companies.

Specifically, No. 1 Infineon, whose sales of power semiconductors in 2021 increased by about 21.7% compared with 2020, reached $4.869 billion. Although Infineon has also raised chip prices several times in 2021, due to the winter storm in Texas in February 2021, its local wafer fab was shut down, and the outbreak in Malaysia in the third quarter of 2021 led to the output of its local packaging and testing plant. been affected. Then, in September 2021, the output of Infineon's local fab was also affected by the power outage in Dresden, Germany. These problems have affected Infineon's revenue growth in 2021 to a certain extent. However, in September 2021, Infineon's 300mm thin wafer power semiconductor chip factory in Villach, Austria officially started operations, which also provided some boost to its revenue growth.

ON Semiconductor's power semiconductor business revenue in 2021 was US$2.051 billion, a year-on-year increase of 27.2%, ranking second. The previous acquisition of the 300mm fab at the former IBM East Fishkill facility from GlobalFoundries for $430 million also helped boost its 2021 revenue by 27% to $2.051 billion.

STMicroelectronics' power semiconductor revenue in 2021 was US$1.714 billion, a year-on-year increase of 52.2%, and the ranking rose one place to third. This is mainly due to the price increase effect of STMicroelectronics products and the expansion of production capacity. From the end of 2020 to the end of 2021, STMicroelectronics has conducted at least three rounds of price increases. In addition, ST's capital expenditures in 2021 will also reach about $2.1 billion, of which $1.4 billion will be invested in global capacity expansion and $700 million will be used for ST's strategic plans. Including, support the Italian Agrate 300mm (12 inches) new fab under construction, the silicon carbide (SiC) plant in Catania, Italy, and the gallium nitride (GaN) plant in Tours, France.

Mitsubishi Electric's power semiconductor sales in 2021 increased by 18% year-on-year to $1.476 billion. It is worth mentioning that Mitsubishi Electric has built a 300mm wafer fab dedicated to power and analog semiconductors near Milan, Italy, and is expected to start production in the second half of 2022.

Fuji Electric's power semiconductor revenue in 2021 is $1.173 billion, a year-on-year increase of 23.7%. In terms of production capacity, Fuji Electric currently does not have a 300mm production increase plan, focusing on a 200mm production increase. In August 2021, Fuji Electric announced plans to invest an additional 40 billion yen ($365 million) to expand power semiconductor production capacity. Among them, about 25 billion yen will be invested in the company's fab in Malaysia to start producing 8-inch silicon wafers to improve production efficiency. The Malaysian plant is scheduled to start producing power semiconductors in fiscal 2023. The remaining 15 billion yen will be allocated to other places including Japan's Matsumoto plant. In addition, Fuji Electric has also stated that it has decided to increase capital expenditures for power semiconductors (including investment in SiC power semiconductors) to 190 billion yen against the backdrop of increased demand for electric vehicles and renewable energy.

Toshiba's power semiconductor revenue in 2021 was $996 million, a year-on-year increase of 13.4%. On February 4 this year, Toshiba Electronic Components and Storage Corporation announced that it will build a new 12-inch wafer manufacturing facility at the main discrete device production base (Kaga Toshiba Electronics Co., Ltd.) in Ishikawa Prefecture, Japan, to convert its current The power semiconductor production capacity will be increased to 2.5 times by 2021.

Vishay's power semiconductor revenue in 2021 is the same as Toshiba's 996 million yuan, but the year-on-year increase is higher, reaching 28.7%.

Nexperia, a subsidiary of Wingtech, will have a power semiconductor revenue of US$672 million (approximately RMB 4.486 billion) in 2021, a year-on-year increase of 43.3%, and its ranking has risen one to eighth.

According to the annual report released by Wingtech Technology, its semiconductor business (including power semiconductors and discrete devices) revenue in 2021 will be 13.803 billion yuan, a year-on-year increase of 39.54%, a gross profit margin of 37.17%, and a net profit of 2.632 billion yuan, a year-on-year increase of 166.31. %. It is worth mentioning that in 2021, Nexperia's revenue will rank sixth in the global power discrete device industry, an increase of three places compared to 2020.

Renesas' 2021 power semiconductor revenue was $645 million, an increase of 27.7% year-over-year. It is worth mentioning that in March 2021, a fire broke out in the N3 building (12-inch wafer production line) of Renesas' Naka factory in Ibaraki, Japan, which brought greater output to Renesas' automotive chips. loss.

In general, thanks to the shortage of cores that broke out since the end of 2020 and the growth of the new energy vehicle market, the supply of power semiconductor chips has also continued to exceed demand, and prices have also continued to rise, which also makes the top ten power semiconductor manufacturers. Compared with 2020, revenue in 2021 will increase by more than double digits, among which STMicroelectronics has the highest year-on-year growth in power semiconductor revenue.

Commenting on trends in the power semiconductor industry, Kazuhiro Sugiyama, Director of Semiconductor Consulting at Omdia, said: "With growing global demand for electric vehicles, wind, solar power, rail and data center power supplies, power semiconductor manufacturers are making capital investments to improve productivity."

The forecast report on the future trend of global power semiconductors released by Yole Développement also shows that by 2026, the total scale of global power semiconductors will exceed US$25 billion, with a compound annual growth rate of 3% from 2020 to 2026. The mobile and consumer markets are the largest application areas for power semiconductors and are expected to reach $11.5 billion by 2026. Automotive and industrial applications are growing the fastest with a CAGR of 9.0% over the same time period.

Among them, in the field of consumer electronics, the main driving force for the growth of power semiconductors is the standby and battery life requirements of smartphones, and in the automotive field, EV BMICs (Battery Management Integrated Circuit Modules) and ADAS systems will also greatly promote the growth of power semiconductors. develop. BEVs are expected to account for 30% of the total power semiconductor market by 2026.

 

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