1、 Overview of Power Management Chips
A power management chip is a chip in electronic device systems that is responsible for the conversion, distribution, detection, and other management of electrical energy. Power management chips directly affect the performance of electronic devices. Currently, power management chips are developing towards fidelity signals, improving power density, extending battery life, reducing external noise interference, and enhancing safety under high voltage. The power management chip is mainly used to ensure the stable operation of the power system. As long as there is a power application scenario, power management is required. In wearable devices such as mobile phones and TWS earphones, communication base stations, automobiles, industries, and the Internet of Things, power management chips are needed.
The importance of power management chips is gradually becoming prominent, with a wide variety of product segments. The power management chip is the power supply heart of all electronic devices, responsible for the control functions such as conversion, distribution, and detection of the required electrical energy. It is indispensable for electronic devices, and its performance and reliability have a direct impact on the overall performance and reliability of the device. According to functional division, power management chips can be divided into charging management chips, DC/DC converters, AC/DC converters, charging protection chips, wireless charging chips, driver chips, etc., which can achieve functions such as charging, buck boost conversion, AC/DC conversion, etc.
At present, the development of power management chips in China has gone through three stages. Against the backdrop of the ongoing trade friction between China and the United States, the chip industry, as a strategic development industry of the country, has accelerated its development process under the pressure of external environment and the support of national policies, and is currently in a high-speed development stage. With the continuous improvement of industrial policies, the importance and urgency of domestic chips are becoming increasingly prominent, and the development speed of China's power management chips will further accelerate in the future.
2、 Policy
integrated circuits are a fundamental, leading, and strategic industry that is closely related to the overall development of the national economy and society. The Chinese government has issued a series of policies and regulations to strongly support the development and growth of the integrated circuit industry. As an important component of integrated circuits, power management chips also greatly benefit from it.
3、 Industrial chain
The upstream of the power management chip industry chain is the raw material link, mainly including silicon wafers, photoresist, electronic specialty gases, lead frames, packaging substrates, etc; The midstream is responsible for the production and supply of power management chips, mainly including four stages: chip design, manufacturing, packaging, and testing; Downstream applications mainly include mobile phones, tablets, laptops, wearable devices, automobiles, communication base stations, smart homes, and other fields.
At present, the largest terminal market for power management chips is still mobile phones and consumer electronics products, but due to fierce competition, profit margins are being compressed. On the other hand, downstream demand in areas such as automotive electronics, wearable devices, smart home appliances, industrial applications, base stations, and equipment continues to grow. Among them, the in car power management chip is the fastest growing application field among power management chips. The communication field has the heaviest proportion in the downstream of the power management chip industry chain, accounting for 25%, followed by data processing with 24%, and industrial and medical with 23%.
4、 The current development status of the global power management chip industry
With the development of downstream markets such as consumer electronics, new energy vehicles, and 5G communication, the number and types of electronic devices continue to grow. The management of the power application efficiency of these devices will become more important, which will drive the growth of demand for power management chips. Thanks to the widespread use of electronic products worldwide, the global power management chip market has shown a steady growth trend in recent years. According to data, the global market size of the power management chip industry is steadily increasing, with a market size of approximately 39.99 billion US dollars in 2022.
Related report: "Report on the Development Trends and Market Prospects of China's Power Management Chip Industry from 2023 to 2029" released by Zhiyan Consulting
5、 Development Status of China's Power Management Chip Industry
Although the semiconductor industry is currently in a downward cycle, power management chips are not easily affected by industry fluctuations due to their wide range of applications and dispersed products. In recent years, the demand for new energy vehicles, smart homes, and energy storage markets has grown rapidly, and the speed of domestic substitution of downstream terminal products has accelerated. China's power management chips still maintain strong growth, and the industry market size growth rate is significantly higher than the global level. According to data, the market size of China's power management chips has grown rapidly in the past two years. In 2022, the market size of China's power management chips was about 127.109 billion yuan, with a compound annual growth rate of 13.08% from 2015 to 2022. The output value in 2022 is approximately 35.44 billion yuan.
The Chinese power management chip industry is undergoing a hot process of domestic substitution. With the acceleration of the process, production is gradually increasing. In 2022, the production of power management chips in China was about 16.24 billion, and the demand is gradually expanding with the development of the automotive industry. The demand for power management chips in China in 2022 is about 32.76 billion. In the wave of domestic substitution, the supply and demand of automotive power management chips in some fields have improved, and some automotive chips have begun to be downgraded, including LED drivers for car lights, motor drivers and other driver ICs, PMICs, and some control ICs. According to data, the average price of China's power management chip industry showed a downward trend from 2015 to 2020, and an upward trend from 2021 to 2022, mainly due to the shortage of supply in the market in the past two years. With the continuous price increase of wafer foundries, the cost transfer has pushed up the price trend, driving up the market average price. In 2022, the market average price of China's power management chip industry was about 3.88 yuan/piece.
6、 Market competition pattern of China's power management chip industry
As one of the main sub markets in the analog chip industry, the global power management chip market also presents a competitive pattern dominated by international giants. The global power management chip market has a high concentration, with 80% of the domestic market share monopolized by European and American manufacturers. International giants in the industry have a large market share, and they have leading advantages in sales scale, product variety, core IP, and other aspects. Overall, international giants have a wide range of product types, covering applications in consumer electronics, industry, automotive, aerospace, and other fields. They have significant advantages in asset size, research and development capabilities, product diversity, and customer coverage. As of 2022, Texas Instruments, Adno, Infineon, Rohm, Microchip, Hitachi, and others have market shares of 17%, 12%, 10%, 8%, 7%, and 7%, respectively.
Shengbang Corporation focuses on the research and sales of high-performance and high-quality analog integrated circuits, and is the first semiconductor enterprise listed on the A-share market to specialize in the field of analog chips. The company focuses on the research and development of analog chips, with product performance and quality benchmarking against world-class analog manufacturers. Some key performance indicators are superior to similar foreign products. The company has launched a series of high-performance analog chip products, including ultra-low power operational amplifiers and comparators, ultra-low power boost DC/DC converters and buck DC/DC converters, high-precision and low-noise instrumentation amplifiers, small package high current and high anti-interference LDOs, efficient lithium battery chargers, 24 bit high-precision ADCs, large dynamic logarithmic current voltage converters, high-precision voltage reference circuits, high-precision temperature sensors, and low-power high-precision current sensors. In addition, analog chips have the characteristics of strong universality, diversity, long lifecycle, and wide application. According to the company's annual report, its revenue related to power management chips was 1.991 billion yuan in 2022.
7、 Future Development Trends of China's Power Management Chip Industry
1. International manufacturers still occupy the main market share in the industry, and manufacturers in Chinese Mainland are expected to increase their share by virtue of cost performance
At present, in the fast charging chip market, international leaders such as Ansenmei and Cypress are leading the technological development, occupying the main share of the fast charging market with a capacity of over 65W; At present, players from Taiwan, China, such as Anbao and Liqi, and manufacturers from Chinese Mainland, such as Simbond Micro, are mainly concentrated in the low-power field, and are moving towards the market above 65W. Looking forward to the future, manufacturers in Chinese Mainland are expected to gradually increase their share by virtue of price, service and other advantages in the process of the rise of local fast charging brands, and accelerate the process of localization substitution.
2. The increasing demand in the industrial control field stimulates the rapid development of the domestic power management chip market
The increase in industrial applications has driven new growth momentum in the domestic power management chip market; From the perspective of 5G, the domestic 5G industry is gradually maturing and penetrating into various industries, still becoming a major component of global economic development and competition. It is expected that with the development of the 5G industry in the future, the number of base stations will increase year by year, and the demand for power management chips will also increase accordingly; From the perspective of electricity, since 2018, State Grid has launched a new round of transformation, and the demand for upgrading existing smart meters has driven the rebound of demand in the smart meter market. With the development of China's smart grid and smart meters, it has injected fresh vitality into the domestic power management chip industry; From the perspective of motors, with the arrival of the Industry 4.0 era, traditional fields still have strong demand, while new industrial application scenarios bring new demands, driving the continuous growth of demand for
Power Management ICs.
The "Report on the Development Trends and Market Prospects of China's Power Management Chip Industry from 2023 to 2029" (hereinafter referred to as the "Report"), carefully compiled by a team of experts from Zhiyan Consulting, has been released. The report aims to analyze the future market trends of the power management chip industry from the perspective of national economic and industrial development strategies, explore the development potential of the power management chip industry, predict the development prospects of the power management chip industry, and assist in the high-quality development of the power management chip industry.
This report systematically and objectively analyzes the development and operation of China's power management chip industry from the perspectives of the development environment, overall operating situation, operating status, import and export, and competitive landscape in 2022, and looks forward to the development trend of China's power management chip industry in 2023. The Report is a systematic analysis of the development status of China's power management chip industry in 2022. It has important reference value for comprehensively understanding the development status of China's power management chip industry, conducting academic research and practice related to the development of the power management chip industry, and can be read and referenced by government departments, research institutions, industrial enterprises and other relevant personnel engaged in the power management chip industry.
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