Ranking of the top ten domestic semiconductor power device companies in 2018: Jilin Sino-Microelectronics ranked first

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Power semiconductors refer to semiconductors used for power conversion or power management in electronic devices. With the urgent need for energy conservation and emission reduction, the application areas of power semiconductors have expanded from industrial control and 4C fields to new energy, rail transportation, smart grid, variable frequency home appliances and many other markets.

Data shows that in 2017, in the global power semiconductor market, industrial applications accounted for 34%, automotive applications accounted for 23%, consumer electronics applications accounted for 20%, and wireless communications applications accounted for 23%.

Application distribution of domestic power devices

Semiconductor power devices are very important in power semiconductors. At present, the market share of domestic power semiconductor leading enterprises represented by Yangjie Technology, HuaWei Electronics, and Silan Microelectronics is very low, and there is huge room for import substitution. According to the China Business Industry Research Institute, among the top ten domestic semiconductor power device companies in 2018, Jilin HuaWei Technology ranked first, with a revenue of 1.64 billion yuan in 2017. Yangzhou Yangjie Electronic Technology ranked second, with a revenue of 1.47 billion yuan in 2017. The following is the ranking:

Top Ten Power Devices in China

Looking at the entire power device market, the overall situation is that European, American and Japanese manufacturers are in a three-way competition. Among them, the United States is in a leading position in power devices, with a number of manufacturers with global influence, such as TI, Fairchild, Maxim, ADI, ON Semiconductor and Vishay. Europe has three global semiconductor giants, Infineon, ST and NXP. Japan mainly has Toshiba, Renesas, Rohm, Matsushita, Fuji Electric, etc. Taiwan, China has a number of manufacturers such as Fu Ding Advanced, Moda, Anmo, Zhixin and Peiheng. And my country has the above representatives.

There are many sub-sectors of power semiconductor devices, and the overall growth rate of the industry is relatively slow. Large manufacturers tend to acquire in the industry and achieve growth by deploying new areas. In 2016, Infineon Technologies became the world's main supplier of power semiconductors. After acquiring International Rectifier in early 2015, Infineon surpassed Mitsubishi Electric to become the leading power module manufacturer. After being surpassed by Infineon in 2015, Texas Instruments fell to second place in the world in 2016. After ON Semiconductor completed the acquisition of Fairchild Semiconductor, its market ranking rose to third place, and its market share in power discrete devices jumped by 10%. In 2016, Jianguang Capital acquired NXP's standard device department for US$2.75 billion, and Chinese companies entered the top ten in the industry for the first time.

Although domestic power devices have achieved many breakthroughs in recent years and the domestic power semiconductor device market is large, we should see that the domestic industry is still in its infancy.

According to CCID Consulting, in 2016, the scale of China's power semiconductor market reached 149.6 billion yuan, accounting for more than 40% of the global market. However, the supply chain is still monopolized by foreign manufacturers. Domestic enterprises are relatively small in scale, backward in technology, and incomplete in product categories. The industry is still in the stage of starting up and accelerating catch-up. Jilin Huawei, the No. 1 domestic power semiconductor enterprise, had a revenue of 1.395 billion yuan in 2016 and a net profit of only 40.6 million yuan. Infineon, the global industry leader, had a revenue of 6.473 billion euros in 2016. The gap between the leading Chinese enterprises and the industry leaders is more than 30 times.

According to Yole, the competition landscape of the power IC market is mature and the supply chain is relatively complete. The United States has an absolute leading advantage in the field of power ICs, and Europe also has strong strengths in power ICs and power discrete devices. Although Japan has a large number of manufacturers in power IC chips, the overall market share is not high. For the core downstream products of power ICs - power ICs, the three major suppliers Dialog, Qualcomm and Maxim dominate the smartphone market with a far-leading market share. In 2016, Jianguang Capital completed the acquisition of NXP's standard department for US$2.75 billion, striving to fill the gap in the domestic automotive and industrial IC fields.

When broken down into various fields, in terms of power diodes, domestic manufacturers are competitive and there is great room for import substitution.

In this field, the largest international manufacturer is Vishay, which occupies 11.71% of the market share, and the market share of the second to seventh largest manufacturers is 5%-8%, which is almost the same as the first. The market share of the manufacturers after that is less than 5%, and the market is relatively fragmented. Among them, the domestic manufacturer Yangjie Technology has a market share of 2.01%. Power diode technology is mature and the market entry threshold is low, focusing on the control of the production process and cost control. Domestic manufacturers have certain competitiveness due to their exquisite production process control and low labor costs, and there is a large space for domestic substitution. According to the Statistical Yearbook of China's Electronic Information Industry released by the Ministry of Industry and Information Technology, since 2014, China's exports of diodes and similar semiconductor devices have continued to exceed imports.

In terms of silicon-based MOSFET, domestic manufacturers have great potential and import substitution is just in time. Domestic manufacturers are mainly concentrated in the field of low-voltage MOSFET, and medium and high-voltage MOSFET are mainly occupied by foreign manufacturers. According to IHS, the main manufacturer in the domestic power MOSFET market is Infineon, with a market share of 28.5% in 2016, and together with ON Semiconductor, which ranked second, it occupied nearly half of the domestic market. Only Silan Microelectronics and Jilin Huawei Microelectronics are on the list of domestic manufacturers, occupying 1.9% and 1.1% of the market share respectively, so there is huge room for import substitution.

In 2016, Jianguang Capital acquired the standard product business unit of NXP Semiconductors for RMB 2.75 billion and established an independent company called Nexperia.

Nexperia has taken over all MOSFET businesses of NXP, and has become the tenth largest MOSFET manufacturer in the world and the eighth largest in China (market share 3.8%). NXP is a large manufacturer in the field of industrial and automotive semiconductors. In contrast, industrial and automotive semiconductors have always been the weak points of Chinese semiconductor companies. Due to the large number of product categories, small unit volume, high price and slow iteration in this field, it is difficult for domestic companies to enter. The establishment of Nexperia has made up for the shortcomings of domestic manufacturers in this field. In addition, in 2016, Jianguang Capital also established a joint venture with NXP, Rueneng Semiconductor, whose main products are diodes, bipolar transistors, and thyristor rectifiers. It also acquired NXP RF Power department and established Ampleon, which is committed to innovation and research and development in the field of radio frequency technology.

As for silicon-based IGBT, overseas manufacturers have obvious advantages, with a CR4 as high as 70.8%.

According to IHS, the four major overseas suppliers, Infineon, Mitsubishi Electric, Fuji Electric, and SEMIKRON, accounted for 70.8% of the global IGBT market in 2016. Although China's power semiconductor market accounts for more than 40% of the world market, 90% of mainstream IGBT devices are mainly imported. Currently, localization is only achieved in the field of high-power rail transportation. In 2016, the market shares of Jiaxing Star and CRRC were 1.6% and 0.6% respectively.

It is worth mentioning that CRRC Corporation Limited is focusing on IGBT for high-speed rail and making rapid progress. Before the merger, CNR cooperated with ABB in IGBT module packaging technology to build a high-power module production line, becoming the first domestic provider of 6500V high-power modules and solutions. CSR acquired Dynex overseas to establish an IGBT chip design center, with a total investment of 1.4 billion yuan to build the first eight-inch IGBT chip production line in China. In addition to chips, there are 9 IGBT module production lines that meet the needs of different industries. It is expected that after full production, CRRC Corporation Limited will produce 120,000 8-inch IGBT chips and 1 million IGBT modules annually.

When it comes to third-generation semiconductors, overseas companies are still technologically advanced, while domestic companies started late and are still catching up.

SiC key technologies are monopolized by overseas companies. From the perspective of the industry chain, in the upstream part, CREE has a monopoly on more than 60% of the SiC wafer manufacturing market share; in the midstream part, the top ten international companies in the field of power semiconductors, such as Infineon, CREE, STMicroelectronics and ON Semiconductor, have a combined share of more than 50% of the SiC power device market. Compared with the US CREE company, which launched SiC products in 2003, domestic companies started late and their technology is relatively backward. It was not until the beginning of 2015 that Tyco Tianrun achieved mass production of silicon carbide Schottky diodes for the first time. At present, the scale of the domestic SiC industry is still far behind that of foreign countries.

It can be seen from this that there is still a long way to go for Chinese power device manufacturers!

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