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Forecast of power management chip supplier inventory adjustment
Wednesday,November 16,2022

The power management chip is the heart of all electronic devices. The power management chip is responsible for the transformation, distribution, detection and other control functions of electrical energy required by electronic equipment, which is indispensable to electronic equipment. Its performance and reliability have a direct impact on the performance and reliability of the whole machine. Once the power management chip fails, it will directly cause the electronic equipment to stop working or even be damaged. It is a key component in electronic equipment.

On November 16, according to the Taiwan, China Electronic Times, the power management chip supplier pointed out that the inventory adjustment of the entire industry supply chain would not end until the second quarter of 2023, except for the application in the automotive field.

Power management chips are the most widely used category in semiconductor integrated circuits, with a wide market space. Power management chips are the most widely used category of semiconductor chips, which are widely used in household appliances, mobile phones and tablets, charging and adapters, smart meters, lighting, motors, communication equipment, industrial control equipment and other fields. With the development of new industries such as artificial intelligence, big data and the Internet of Things, the application scope of power management chip will be more extensive, its functions will be more sophisticated and complex, and the demand for efficiency and energy conservation will be more prominent.

According to the data of Prospective Industry Research Institute, the global power management chip market size will reach 56.5 billion US dollars by 2026, and CAGR will be 10.69% by 2018-2026. According to the data of China Economic Industry Research Institute, the domestic power management chip market is expected to increase to 23.45 billion dollars in 2024, and CAGR will be 10% in 2020-2025.

Global Power Management Chip Market Size and Forecast

The largest growth of power IC is in the vehicle field, with a compound annual growth rate of 9.0%. Electrification and automatic driving will become the driving force, especially for electric vehicles. Yole expects that they will account for 30% of the automobile market by 2026, and PMIC will grow driven by them. In addition, Yole predicts that by 2026, all passenger cars and 80% of small commercial vehicles will be equipped with Level 1 ADAS at least, which also increases the demand for multi-channel PMIC. We review the trend from January 2002 to November 2021. The IHS data shows that the demand for analog chips belonging to PMIC is increasing, while the growth of MCU is relatively slow.

The mainstream manufacturing process of PMIC is still the mature process of 90nm-180nm. Its technology development has been dominated by IDM from the beginning to the appearance of OEM mode. Today, more and more OEM plants have switched to invest in 300mm wafers, and IDM is also following.
However, at present, PMIC is mainly based on 8-inch wafer production. According to semi data, during 2021-2022, 29 new wafer plants will be built in the world, including 22 12 inch wafer plants, and the remaining 7 4-inch, 6-inch, and 8-inch wafer plants. There are few new 8-inch wafer plants, and mass production will start in 2023.

In recent years, driven by strong market demand and domestic substitution, domestic power management chip manufacturers have achieved good performance and ushered in a wave of listing boom. At present, Yingjixin, Saiwei Microelectronics, Xinpeng Microelectronics, etc. have successfully landed on the scientific innovation board, and a large number of power management chip manufacturers, such as Jiehuate, Weiyuan Shares, Ruiyuan Technology, have also started a new journey of IPO.

The data shows that every five chips shipped, one of them is a power management chip, and its importance is self-evident. Therefore, in the previous semiconductor industry "price rise due to lack of core" market, the shortage of power management chips was particularly prominent. The news pointed out that under the circumstances of strong downstream demand and limited capacity of the original factory, the order delivery date of power management chips was extended again and again, and the delivery date of some products was extended to more than 50 weeks.

Among them, the shortage and price increase of TI's power management chips are the most serious, and the market gap of chip products including TPS series, TLV series, BQ series and UCC series is very large. Due to the shortage of TI power management chips, some downstream customers continue to turn their orders to MPS, SiliJet, Simbond, Jiehuate and other domestic manufacturers. However, even after the large-scale order transfer, the market gap is still indigestible, which also led to the shortage and price rise that once prevailed in the entire power management chip market.

In general, domestic power management chip enterprises have also ushered in a golden period of development, with their performance and market share growing, thanks to the continuous strong market demand and the simultaneous rise in volume and price brought about by the order transfer effect.