In the latest "China Semiconductor Industry In-depth Analysis Report", the global market research institute Jibang Consulting pointed out that the demand for end markets such as new energy vehicles and industrial control has increased significantly, and various products such as MOSFET and IGBT have continued to be out of stock and price hikes. In 2018, the size of China's power semiconductor market grew by 12.76% to RMB 259.1 billion.

The market size of power discrete devices was 187.4 billion yuan, up 14.7% from 2017. The power management IC market was 71.7 billion yuan, up 8% from 2017.

Xie Ruifeng, an analyst at Jibang Consulting, pointed out that power semiconductors, as a demand-driven industry, continued to rise in 2019. Although it is still affected by factors such as global trade instability, it is less affected by other demand than other IC products. Jibang Consulting estimates that China's power semiconductor market will reach RMB 290.7 billion in 2019, up 12.17% from 2018, maintaining double-digit growth.

Benefiting from the policy of domestic substitution and the situation of out-of-stock price increase, many Chinese local power semiconductor manufacturers achieved remarkable results in 2018 and expanded their layout. Among them, BYD Microelectronics has a rapid rise in the automotive IGBT market due to its terminal advantages, and has achieved a market share of over 20% in China's automotive IGBT market. It has become the top three IGBT supplier in China; MOSFET manufacturer Huawei Electronics and Yangjie Technology's revenue increased significantly, and gradually introduced into the IGBT market.

In addition, the newly built and planned IGBT production line includes Shilan Micro Xiamen 12-inch characteristic production line, China Resources Microelectronics' 12-inch characteristic production line in Chongqing, and Jitas Semiconductor's professional automotive-grade IGBT production line. At the same time, a number of manufacturers have also invested in the development of new materials technologies such as SiC. The basic semiconductor SiC MOSFETs have entered mass production, and the Sanan Optoelectronic SiC production line, which is positioned as a foundry, has also begun to receive orders. BYD Microelectronics has also developed The goal of successful SiC MOSFETs is to achieve a complete replacement of silicon-based IGBTs by SiC MOSFETs by 2023.

Looking forward to 2019, from the perspective of terminal demand, new energy vehicles are still the largest source of demand for China's power semiconductor market. According to Jibang Consulting, China's new energy vehicle production is estimated at 1.5 million in 2019, up 45 years from the previous year. %, the demand for its ADAS system, electronic control and charging pile will drive the market size of power discrete devices to approximately 27 billion yuan. At the same time, the base station equipment required for 5G construction and the rapid development of Internet of Things and cloud computing will bring long-term demand for power semiconductors. In addition, industrial automation planning continues to advance, and related power, control, and drive. The circuit will continue to push up the purchase of China's power semiconductors.

From the perspective of the supply side, although 3-5 power production lines will enter mass production in 2019, according to Jibang Consulting, the shortage of power discrete device products in the first three quarters of 2019 is likely to be significantly improved. Product prices are expected to continue to rise. From the perspective of manufacturers' technology development, SiC MOSFETs are expected to further improve the replacement rate of silicon-based IGBTs in the automotive field, and silicon-based IGBTs are expected to continue to develop toward lower power consumption and higher efficiency.

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