Issue 3 2023 Power Electronics Europe www.power-mag.com 6 MARKET NEWS The xEV power converter market is growing substantially according to the latest research by analyst, Yole Group. It reports that the market value for power converters will reach US$146.1 billion by 2028, with an 8.7% CAGR between 2022 and 2028. In 2022, the industrial motor segment represented the largest power converter market but the xEV power converter segment is growing substantially and is expected to become the third largest market by 2028. Driven by the worldwide transition to renewable energy sources, such as solar PV and wind power, there is a growing need for power converters that can convert energy from these sources efficiently and easier their integration with the electricity grid. China dominates in most end markets, particularly in converter suppliers and the ultimate target is increasing power density. Hassan Cheaito, PhD.Technology & Market Analyst at Yole Intelligence, commented: “Power converters for battery energy storage systems will feature the fastest growth in the coming five years, with a 2022-2028 CAGR of 30.3%”. Dr. Milan Rosina, PhD. Principal Analyst for the power electronics and battery division, added: “Automotive OEMs are increasingly involved in converter manufacturing to save costs and are leveraging their vertical integration”. Yole Intelligence’s report highlights China’s dominant position in most end markets analysed, particularly in converter supply for xEV, wind and PV converter markets. This increase is attributed to the large domestic market for end systems (wind turbines, electric vehicles and PV inverters), the competitive advantage in terms of cost compared to regions like the USA and Europe and the dominant position regarding the supply and the cost of raw materials. This has spurred innovation and alternative business approaches from nonChinese players. There has also been consolidation of the supply chain for high power converters, with the supply chain more secured compared to the one dedicated to low power solutions. One trend in terms of vertical integration is that automotive OEMs are increasingly involved in converter manufacturing. OEMs and Tier 1s are moving towards manufacturing power modules and, in some cases, even power device bare dies, particularly in the xEV segment, where power modules and traction inverters play a crucial role in achieving technological differentiation. A second shift is the move from solely system manufacturing and sales towards service-oriented businesses, with services such as project consulting, operation and maintenance. This trend is particularly noticeable in established markets with a significant number of existing installations, such as rail, wind, and PV. It is also present in relatively new segments like BESS (battery energy storage systems) and EV DC chargers. http://www.yolegroup.com. High hopes for converter renewable energy and electrification Rohm opens up the Solar Frontier in Japan as a main production base Rohm has agreed the acquisition of the Solar Frontier plant in Kunitomi, Japan and with it comes an expansion of its production facilities. The Kunitomi site is approximately 400,000m2 with a total floor area of approximately 230,000m2 and will be one of the Rohm Group’s main production bases. “This acquisition enables a fast production expansion by utilising existing infrastructure. This way, Rohm will continue to quickly and reliably supply its customers,” says Wolfram Harnack, President at Rohm Semiconductor Europe. The company has scheduled operation at the plant for the end of 2024. Commenting on the move, the company said that semiconductors are increasingly important in achieving a decarbonised society. Both automotive and industrial equipment markets are undergoing technological innovation, such as electrification, in order to reduce environmental impact and achieve carbon neutrality, explains Rohm. With this, the demand is increasing especially for power and analogue semiconductors. The company also says as further expansion of the semiconductor market is expected, the Rohm Group intends to expand its production capacity continuously, particularly for SiC power devices, and ensure a stable supply to customers The acquisition is scheduled to take place in October 2023. www.rohm.com
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