Domestic power semiconductor companies all posted strong first-quarter results, even though the first half of the year had been dominated by negative sentiment for the power semiconductor market — "weak demand", "high inventory" — with Infineon and onsemi openly stating that their traditional businesses were under pressure. Domestic power chip companies, however, appear to feel something quite different.

The rankings have changed

According to Infineon's second-quarter fiscal 2025 results, the global power semiconductor market shrank to USD 32.3 billion in 2024. China's Silan Microelectronics rose to sixth place worldwide with 3.3% market share, while BYD entered the global top ten for the first time at 3.1%. Infineon remains number one with 17.7% share, down 2.9 percentage points year on year. onsemi fell 0.5 points to 8.7% and STMicroelectronics fell one point to 7%.

Only Silan and BYD among the global top ten improved their share. Silan's power semiconductor revenue grew from USD 928 million in 2023 to USD 1.066 billion in 2024, lifting share from 2.6% to 3.3% and keeping its position as China's domestic power semiconductor leader. BYD's gain came mainly from rapid growth in vehicle sales, with more than 4.27 million vehicles sold in 2024 and new-energy passenger vehicle sales above 4.25 million, up 41.1%.