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The ASEAN Metal–Oxide Semiconductor Field Effect Transistor (MOSFET) market size was USD 235.2 million in 2019. The regional impact of COVID-19 has been unprecedented and staggering, with metal–oxide semiconductor field-effect transistors witnessing a negative impact on demand across the region amid the pandemic. Based on our analysis, the ASEAN metal–oxide semiconductor field-effect transistor (MOSFET) market will exhibit negative growth of -3.9% in 2020 as compared to the average year-on-year growth during 2016-2019. The market is projected to grow from USD 226.0 million in 2020 to USD 377.6 million in 2027 at a CAGR of 7.6% in the 2020-2027 period. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
MOSFET (Metal Oxide Semiconductor Field Effect Transistor) is a common semiconductor component that is extensively used for the amplification of electronic signals in digital and analog circuits. The outsourcing of these transistor electronics manufacturing services (EMS) is becoming one of the key market opportunities for several industrial sectors as it enables the production of original and high-quality products at low costs, helping manufacturers gain a competitive advantage as well as improve the market’s growth prospects.
Connected technologies such as the Internet of Things (IoT) and wireless communications are ranked as the most important applications for the power electronics sector and have a huge potential in increasing the market size. These technologies converge into a single device or system with an advanced transistor. Also, connected technologies include automotive electronics and industrial electronics as these are expected to be the prominent growing applications in the ASEAN market.
COVID-19 to Hamper Manufacturing Sector Investments, Creating Volatile Business Conditions
Currently, the shockwaves of the COVID 19 pandemic are disrupting economies around the globe. Further, the growth rates in emerging Asian economies are also expected to contract in 2020 and rebound in 2021 as manufacturing plants across Asia are anticipated to suffer major setbacks. The short-term impact of COVID-19 on the market is due to the sudden disruptions in the manufacturing activities and halt in the supply chain systems.
Countries such as India, Singapore, Malaysia, Thailand, and the Philippines have seen the drastic aftermath of the COVID-19 pandemic. Amongst them, Vietnam has had a relatively low impact of the pandemic, owing to the growing demand for high-processing power components for mobile and other computing devices, which also contributes to the growth of the semiconductors market in the consumer electronics segment. The demand for consumer electronics is high due to the availability of low-cost labor and favorable investment incentives. GDP growth is expected to slow down in 2020 to 2.5%, but the country will continue to lead the ASEAN-5 on this metric.
Moreover, China is the ASEAN countries’ largest trade and investment partner, where the pandemic has led to a downturn in trading activities related to raw materials and other manufacturing equipment, worsened by the declining GDPs of ASEAN countries. To overcome these challenges, Malaysia has rolled out a fiscal stimulus package of about 17% of its GDP to support small businesses and residents who have been harshly hit by COVID-19. Similarly, Singapore introduced a stimulus package of 11% of its GDP for ramping up the existing job support schemes and supporting the households by offering cash payouts on the basis of their income.
However, even though the market is expected to witness a decline in the pandemic period, it is expected to bounce back by the end of 2020. This is mainly due to the active participation of manufacturers and governments to recover the losses incurred during the pandemic and working on various strategies to rejuvenate the economy.
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Adoption of ACES in the Automotive Sector is an Emergent Market Trend
In the coming decade, the automotive industry is anticipated to experience an emerging trend of Autonomous, Connected, Electric, and Shared (ACES) vehicles. This is expected to result in varied mobility preferences and user behaviors, innovative business models, shifting value pools, and new entrants into the automotive industry. The ACES trend is enabled by the technological advancements in electronic components and software that will positively impact the demand for MOSFETs across the automotive sector.
Asian countries have a higher proportion of the younger population, bolstering the high enthusiasm of automotive manufacturers about the ACES trend. Qualities such as compact size, lightweight, high switching speed, and silent operation enhance the necessity of MOSFET while adopting ACES technology. Thus, several ASEAN automotive manufacturers are adopting the ACES trend, thus encouraging the production of these transistors.
Rising Demand for Compact & Durable MOSFET for Efficient Automated Solutions to Drive Growth
Over the past few decades, the demand for compact and efficient automated solutions has become the key factor for encouraging the adoption of smaller size transistors in a wide range of electronic devices. Ultra-small size and weight of MOSFET is ideal for applications that require small size and less space on the bottom surface. Generally, the compact size of electronic devices allows for silent operation and high-speed switching with efficient automated solutions, bolstering the demand for these transistors throughout the ASEAN region. Packaging the compact-sized devices into a single unit is perfect for saving space that significantly offers high-power processing, excellent reliability, and better performance, fueling their adoption across several industries.
Tariff Disruptions and Shift in Asian Trade to Hamper Market Growth
The power electronics industry heavily depends upon the United States as this country has been a prominent player in the power electronics market with a dominant share. With the change in the country’s leadership, the U.S. has started to impose trade restrictions on China from 2018, and if it maintains these restrictions, the country is expected to suffer a ~16% decrease in its market share. Furthermore, developing ASEAN countries and India remained in the doldrums in 2019, witnessing fluctuations in trade balances and heightening uncertainty in the Asian trading sector.
Furthermore, tariffs are being applied to practically all industrial goods and materials, which are customary for the production of metal-oxide semiconductor field-effect transistors. These tariffs are impacting the import and export of components, which will directly affect the manufacturing cost of these devices. Besides, smaller companies are expected to bear minimal changes in the costs involved with these tariff disruptions. Since 2019, Vietnam’s exports declined by 10.5%, dragging down the value of Asian exports by 40% and resulting in the modest market growth in other ASEAN countries.
Depletion Type Segment to Grow at a Higher CAGR
Among all type segments, the depletion mode segment is projected to grow exponentially over the forecast period, owing to the rising need for a very low voltage/current circuit, which could use a matched dual or quad integrated circuit array from advanced linear devices. Depletion type transistors require gate-source voltage (VGS) to switch OFF the device and have a wide range of applications in the automotive and consumer electronics sectors.
The enhancement mode segment is estimated to have progressive growth, as this type is equivalent to the “normally-open” switch and requires gate-source voltage to switch ON the device. Enhancement-mode transistors are used in integrated circuits to produce CMOS type Logic Gates and power switching circuits in the form of PMOS (P-channel) and NMOS (N-channel) gates.
High Power Rate to Witness the Highest CAGR
The high power rate segment is anticipated to portray the highest CAGR as these devices offer great work efficiency to engines. The medium power rate transistors segment is expected to witness promising market growth owing to the rising demand for consumer electronic devices such as mobile phones, laptops, tablets, etc. High and medium power rate MOSFETs have a wide range of applications in the IT sector that enables the smooth functioning of data centers, automotive devices, and other electronics products.
The low power rate segment is anticipated to have stable market growth on account of the consistent demand for these transistors across various industrial sectors and reduced applications.
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Automotive Sector to Dominate the Market Share
The automotive sector holds the highest share in the ASEAN MOSFET market, backed by the rising demand for high-powered devices for several automotive engines and the increasing adoption of the Autonomous, Connected, Electric, and Shared (ACES) trend.
The consumer electronics segment is anticipated to witness the highest CAGR over the forecast period due to the increasing dependence on the internet and mobile devices.
With the sudden emergence of COVID-19, work from home has become the key reason for the rise in data processing and networking centers globally. Furthermore, ASEAN small and medium organizations are adopting strategies for work from home in the coming years, which is expected to propel the demand for MOSFETs in the data processing, networking, and communication sectors.
The energy and power segment is expected to witness substantial growth owing to the upcoming renewable projects for electricity generation. The others segment is likely to witness stagnant growth with limited applications and demand for low-powered devices.
The ASEAN market is expected to witness prominent growth in the forecast period, owing to the presence of key players and their initiatives in the region. Additionally, ASEAN countries such as Singapore, Vietnam, Malaysia, and Thailand are the major economies contributing to the revenue of the market.
Among these, Singapore accounted for the highest ASEAN MOSFET market share, owing to the rising demand for high-quality metal-oxide semiconductor field-effect transistors across the country’s electronics industry. In addition to this, Singapore has skilled labor that works on maintaining the strength of discrete modules.
Vietnam to Witness Highest CAGR Supported by an Expanding Power Electronics Industry
Vietnam is expected to grow significantly at a CAGR of 8.5% over the forecast period. This is mainly due to the growth and advancements in the country’s power electronics market. Moreover, the increasing demand for compact automation solutions, improved durability, and efficiency has helped in increasing the rate of uptake of MOSFET. Thus, the Vietnam market is anticipated to experience decent growth in the coming years.
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Apart from the ongoing challenges such as limited resources and underdevelopment of the domestic market, Singapore is still said to be one of the pioneer nations in the semiconductor market in certain segments. The country does not have many local suppliers, and the available suppliers are tied up with foreign entities. This is because the Singaporean government is emphasizing balancing MNC strengths.
The Singapore market needs to optimize public-private partnerships for semiconductor facilities, and in this regard, Taiwan leads the semiconductor industry. Singapore, being a high-cost country, hampers manufacturing costs, and results in the high-cost of running businesses. However, the country is currently working on decentralizing the field and is focusing on enhancing the growth of the semiconductor industry from an ASEAN viewpoint and the suppliers are focusing on expanding their manufacturing plants in other cost-effective countries.
Infineon, ON Semiconductor, STMicroelectronics, and Vishay Intertechnology to Focus on Technological and Acquisition Strategies
Key manufacturers are tending towards upgrading MOSFET resistance power and compatibility with other semiconductor components. For instance, in June 2020, Renesas introduced HIP2211 and HIP2210, a new pair of 100V half-bridge drivers that are the next-generation pin-compatible upgrade to the ISL2111 bridge driver. Several manufacturers are continuously expanding their market position by fast-tracking technological developments as their central strategy.
Business acquisitions are one of the key strategies adopted by the major market players that help in enhancing their businesses and product portfolios. For example, in June 2019, Infineon acquired Cypress Semiconductor Corporation that offers a broad range of semiconductor components. Similarly, in March 2020, Renesas acquired IDT, an analog mixed-signal product supplier.
An Infographic Representation of ASEAN Metal–Oxide Semiconductor Field Effect Transistor (MOSFET) Market
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The ASEAN Metal–Oxide Semiconductor Field Effect Transistor (MOSFET) market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the current market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.
Value (USD million)
Type, Power Rate, Application, Country
By Power Rate
Fortune Business Insights says that the market value stood at USD 235.2 million in 2019.
In 2027, the market is expected to be worth USD 377.6 million.
Robust growth of 7.6% CAGR will be observed over the forecast period (2020-2027).
The Vietnam market size stood at USD 37.7 million in 2019.
Within the type criterion, the depletion mode segment is expected to be the leading segment during the forecast period.
Rising demand for compact & durable MOSFET for efficient automated solutions is expected to drive market growth.
Infineon, ON Semiconductor, STMicroelectronics, and Vishay Intertechnology are the key market players.
The automotive sector is expected to hold the highest share in the market.
The high power rate segment is expected to grow significantly over the forecast period.
The adoption of the ACES trend in the automotive sector is the latest market trend.
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