Chinese power semiconductors stage a comeback
Recently, onsemi, a global semiconductor giant, announced a deep - seated cooperation with Innoscience. The two parties will rely on Innoscience's leading 8 - inch silicon - based GaN process platform to jointly develop next - generation high - efficiency power devices. As early as August this year, Innoscience, as the only Chinese chip company, was included in NVIDIA's list of partners for the 800V DC power supply architecture, providing a full - link gallium nitride solution for its AI data centers and helping the power density of a single cabinet exceed 300kW.
The eagerness of international giants to partner with Chinese technology leaders indicates that a profound industrial transformation is underway.
From passive following to being actively chosen, from technological dependence to reverse empowerment, recent industry hotspots and industrial dynamics all point to an undeniable trend: In the power semiconductor sector, which is the core hardware supporting future industries such as new energy vehicles, photovoltaic energy storage, and AI data centers, Chinese enterprises are achieving a "comeback" at an unprecedented speed and intensity, moving from the periphery to the center of the global industry stage.
Looking back, over the past few decades, the Chinese semiconductor industry has long been trapped in the dilemma of relying on imports for high - end products and lacking core technologies, especially in the power semiconductor field. The supply of key devices has long been controlled by international giants, and the industrial development has been subject to external constraints.
However, in recent years, with the evolution of the global trade pattern, combined with the in - depth implementation of the domestic strategy of self - control and the wave of domestic substitution, the Chinese semiconductor industry has entered a critical period of accelerated breakthroughs, achieving breakthroughs in multiple sub - sectors. Among them, power semiconductors, as the core devices supporting many strategic emerging industries, have become the vanguard sector for the comeback of the Chinese semiconductor industry.
The story of Innoscience may just be an epitome of the industrial rise.
Looking at the entire industry, global power semiconductor giants are engaging in all - round cooperation with Chinese enterprises in terms of breadth and depth, including joint research and development, co - construction of production capacity, and supply - chain binding. Meanwhile, a group of domestic power semiconductor enterprises are also rising rapidly, committed to building a self - controllable industrial ecosystem.
So, why is this comeback happening? What is the core logic behind it? Where has the Chinese power semiconductor industry reached? What challenges and opportunities lie ahead on the road from "running side by side" to "leading"?
With these questions, we attempt to interpret this ongoing industrial transformation by sorting out key partnerships, analyzing the industrial status quo, and understanding the breakthrough logic.
Giants "Rush to Seize", Signaling Industrial Changes
The cooperation choices of global power semiconductor giants serve as the most direct endorsement of China's industrial strength.
Recently, in the field of gallium nitride (GaN), onsemi reached a deep - seated cooperation with Innoscience, the leader in GaN. The core of this cooperation is to rely on Innoscience's mature 8 - inch silicon - based GaN process platform, focusing on the 40 - 200V medium - and low - voltage power device field. They will jointly develop high - efficiency power devices for markets such as industry, automotive, telecommunications infrastructure, consumer electronics, and AI data centers, expanding the market scale of medium - and low - voltage GaN power devices.
Onsemi will contribute its profound experience in system integration, drivers, and packaging. The two parties will form a complementary relationship in technology and production capacity. Through this cooperation, a high - capacity, cost - optimized global GaN manufacturing system will be established, accelerating the market deployment of high - efficiency power devices. Innoscience will also successfully leverage onsemi's global automotive - grade certification channels and customer resources to make the leap from the consumer electronics fast - charging field to high - end markets such as automotive. The cost - effective GaN solutions jointly developed by the two parties also cover multiple scenarios such as industrial robot motor drivers and AI data center DC - DC converters.
According to market forecasts, by 2030, GaN is expected to account for approximately $2.9 billion (11%) of the global power semiconductor market, with a projected compound annual growth rate of 42% from 2024 to 2030. Against this background and trend, onsemi plans to launch relevant samples in the first half of 2026, achieving mutual benefits and accelerating the global popularization of GaN technology.
Compared with the cooperation between onsemi and Innoscience, the cooperation between STMicroelectronics (ST) and Sanan Optoelectronics goes a step further. The two parties not only achieved core - technology collaboration but also jointly built a silicon carbide manufacturing plant, with a planned annual production capacity of hundreds of thousands of wafers.
In June 2023, the Chongqing Sanan STMicroelectronics Silicon Carbide Project was signed and located in Chongqing. It is reported that this 8 - inch silicon carbide (SiC) power device joint - venture manufacturing plant, jointly established by Sanan Optoelectronics and ST, uses ST's proprietary silicon carbide manufacturing process technology and serves as a dedicated foundry for ST to support the needs of its Chinese customers. According to the plan, after the full completion of the joint - venture plant, the total investment is expected to be approximately 23 billion yuan. At that time, it will become the first large - scale mass - production line for 8 - inch automotive - grade silicon carbide power devices in China.
Over the past year or so, the construction has been progressing steadily as planned: it met the "lighting - up" conditions at the end of November 2024 and was connected (put into operation) on February 27, 2025. According to the expected plan, the joint - venture plant will start production in the fourth quarter of 2025 and reach full production in 2028, better meeting the application needs of China's new energy vehicle industry, industrial power supplies, and energy sectors.
As the first large - scale mass - production line for 8 - inch automotive - grade SiC power chips in China, this project reflects ST's recognition of the Chinese industrial chain. With the support of the ST - Sanan silicon carbide wafer joint - venture manufacturing plant, combined with Sanan's SiC substrate manufacturing plant and the expanding back - end packaging and testing capacity of ST, ST will form a complete localized 8 - inch silicon carbide supply chain. While ensuring high - quality standards, it will provide cost - effective SiC products and customized solutions for local manufacturers by improving production efficiency and optimizing logistics.
The establishment of a complete 8 - inch silicon carbide industrial chain in China, covering substrates, epitaxy, wafers, and packaging, helps improve the supply - chain resilience of relevant domestic industries. This also further indicates that the center of gravity of the global high - end SiC manufacturing map is tilting towards China, greatly enhancing China's position in the SiC industrial chain.
Infineon extended its cooperation to the upstream material sector. In 2023, it reached long - term supply agreements with Tianyue Advanced and Tianke Heda, the two leading domestic silicon carbide substrate producers, to ensure a more competitive source of silicon carbide.
According to the agreements, Tianyue Advanced will supply high - quality and competitive 150mm SiC substrates and ingots for Infineon's SiC semiconductor manufacturing; Tianke Heda will supply high - quality and competitive 150mm SiC wafers and ingots for Infineon's SiC semiconductor products, and its supply is expected to account for a double - digit share of Infineon's long - term demand. The first phase focuses on 150mm SiC materials, and 200mm diameter silicon carbide materials will also be provided in the future to assist Infineon in transitioning to 200mm diameter wafers.
Relying on the technological breakthroughs of domestic enterprises in the field of large - size SiC substrate materials, it not only ensures the stable supply of raw materials for Infineon's global core - device production, forming a complementary and win - win pattern of "domestic high - end materials + international advanced manufacturing". This cooperation model further confirms China's global competitiveness in the SiC field.
In addition, more international enterprises are increasing their cooperation with Chinese manufacturers, resulting in a trend of global resources gathering towards the Chinese industry. ROHM of Japan officially signed a long - term strategic cooperation agreement with Tianke Heda in 2023, focusing on the performance improvement and cost optimization of silicon carbide substrates. ROHM included Tianke Heda's 6 - inch conductive silicon carbide substrates in its supply - chain system to support the production of its automotive - grade SiC devices, and Tianke Heda has become one of its important substrate suppliers.
Panasonic and BYD launched a joint research and development project on gallium nitride power devices in 2024. The two parties are jointly developing high - efficiency, high - power - density power modules based on GaN technology for scenarios such as high - voltage fast charging of new energy vehicles to improve the vehicle charging performance.
NXP Semiconductors of the Netherlands deepened its cooperation with StarPower Semiconductor in the field of automotive - grade IGBTs and power modules. With NXP's international market experience and channels, the two parties will jointly promote the development of products that meet global standards and market access, helping StarPower Semiconductor to expand its overseas high - end automotive customer base more quickly.
It is worth mentioning that Toshiba, a Japanese semiconductor giant, also signed a cooperation agreement with Tianyue Advanced, planning to conduct in - depth cooperation in areas such as SiC power semiconductor technology collaboration and substrate supply. Although this cooperation was soon terminated due to external non - commercial factors, this brief cooperation episode, although not achieving substantial results, indirectly confirms the technological leadership of Chinese enterprises in the SiC field, which has been recognized by international top - tier giants. Even facing resistance, international giants are still actively seeking technological cooperation with Chinese enterprises, and the industrial advantages of Chinese power semiconductors can no longer be ignored.
It can be seen that in the fields of third - generation semiconductors and power semiconductors centered on SiC and GaN, the cooperation between international giants and domestic manufacturers is becoming deeper and more diversified. From the initial technology licensing and product distribution, it has gradually upgraded to in - depth cooperation models such as joint research and development, co - construction of production capacity, and supply - chain binding. This change is an important evidence of the rise of the Chinese power semiconductor industry.
The active cooperation of international semiconductor giants is essentially a high - level recognition of the comprehensive strength of Chinese enterprises in terms of core - technology breakthroughs, expansion of production - capacity scale, improvement of the industrial ecosystem, and release of market potential. A series of landmark cooperation cases clearly outline the path of the rise of Chinese power semiconductors.
In addition, a group of domestic enterprises such as Xinlian Integrated, Silan Microelectronics, Yangjie Technology, CR Micro, Zhaoxin Electronics, Jibang Semiconductor, and Renergy Semiconductor are also rising rapidly, gradually achieving breakthroughs in the design, manufacturing, packaging, and testing of power devices. With cost - effective products and rapid market - response capabilities, they are gradually seizing market shares at home and abroad, becoming the core force for the comeback of Chinese power semiconductors.
This also marks that the Chinese power semiconductor industry has moved from point - based breakthroughs to the comprehensive construction of an ecosystem combining IDM and specialized division of labor, and its self - hematopoietic ability is constantly increasing.
Overall, the strong rise of domestic enterprises, together with international cooperation, constitutes the core force for the comeback of the Chinese power semiconductor industry.
The Secret of the Comeback: A Trio of Market, Track, and Ecosystem
Looking back at the Chinese power semiconductor industry today, it has grown from a follower in the past to a strong competitor in the global market.
According to industry data, in 2024, the market scale of the Chinese power semiconductor device industry reached 105.775 billion yuan, continuously ranking as the world's largest consumer market, showing strong development resilience, and the domestic substitution rate has been continuously increasing.
According to industry insiders, the domestic substitution rate of mid - and low - end power devices such as diodes and triodes has exceeded 80%, and they dominate traditional markets such as lighting and home appliances. This year, the market share of domestic SiC manufacturers is expected to increase by 10 - 15 percentage points year - on - year, and the domestic substitution rate may reach up to 20% by the end of this year, and is expected to exceed 50% in the next 3 - 5 years.
In terms of technology, Chinese enterprises have also achieved key breakthroughs. They are developing in sync with international counterparts in SiC substrates and epitaxial wafers, and some products are leading in certain aspects.
Take SiC epitaxial wafers as an example. In 2024, Tianyu Semiconductor ranked first in terms of both revenue and sales volume in the Chinese silicon carbide epitaxial wafer market, with a market share of 30.6% and 32.5% respectively, and 6.7% and 7.8% in the global market, ranking among the top three. More importantly, Tianyu Semiconductor's products have entered the supply - chain systems of leading international IDMs in Europe, America, Japan, and South Korea, and have received bulk - purchase recognition from international customers, demonstrating its voice in the global market.
Innoscience is also the world's first enterprise to achieve mass production of 8 - inch GaN wafers, with significant advantages in technology, yield, and production capacity. According to the latest data, Innoscience's global market share exceeded 42.4% in 2024, and the cumulative shipment volume exceeded 2 billion chips, far exceeding its peers.
In August 2025, Innoscience, as the only Chinese chip company on the list, successfully entered NVIDIA's 800V DC power supply architecture supply chain, providing a full - link GaN power solution for NVIDIA's Kyber rack system. This cooperation marks that Innoscience's technical strength and market position have been internationally recognized, and further indicates that the influence of Chinese chip enterprises in the global AI infrastructure field is increasing.
In terms of standard setting, Chinese enterprises are also changing from followers to participants. Innoscience participated in drafting the IEEE gallium nitride device test specification, and Tianyue Advanced led the formulation of the silicon carbide substrate industry standard, gradually increasing their industry voice.
Behind these data is the all - round comeback of the Chinese power semiconductor industry in terms of technology, market, and ecosystem. However, the rapid rise of this field is not accidental but the result of multiple factors.
1) First of all, the demand traction of the huge market is the core driving force. China is the world's largest market for new energy vehicles, photovoltaic energy storage, and 5G communication. The huge terminal demand provides a natural testing ground and growth space for power semiconductors, driving enterprises to quickly understand customer needs, iterate and optimize products, expand production capacity, and complete technological upgrades.
2) Precise grasp of track opportunities is crucial. The third - generation semiconductor industry started relatively late, and global enterprises are basically on the same starting line, allowing Chinese enterprises to avoid the huge patent barriers and ecological gaps in the traditional silicon - based semiconductor field and gain a valuable opportunity to "overtake on a new track". Different from the traditional silicon - based semiconductors' dependence on advanced processes, third - generation semiconductors pay more attention to the matching of material characteristics and application scenarios. The technological gap between Chinese enterprises and international counterparts in this field is only 1 - 3 years, creating favorable conditions for catching up.
3) The dual guarantee of policies and ecosystem provides support. From the top - level design of the national strategy to the coordinated development of industrial clusters, a strong support system has been formed. The synergy effect of the industrial chain is prominent, and a complete industrial chain covering "substrate materials - chip design - wafer manufacturing - packaging and testing - system application" has been established. While significantly reducing innovation and manufacturing costs through efficient coordination, domestic enterprises empower each other, further building a self - controllable industrial ecosystem and reducing dependence on overseas supply chains.
The comeback trend is not limited to the domestic market but is also reflected in the overseas expansion of Chinese power semiconductor enterprises, who are actively integrating into the global value chain. With the improvement of domestic industrial strength, Chinese power semiconductor enterprises are moving towards the world through diversified paths, shifting from "bringing in" to "going out" and starting a new chapter in global layout.
For example, Yangjie Technology adopted a dual - brand strategy of "own brand + acquired brand" and built a packaging base in Vietnam, successfully exploring the European and American markets; Ningbo Aola Semiconductor licensed its self - developed multi - phase power technology to international giant onsemi, achieving a historic transformation from technology introduction to output; Tianyue Advanced achieved dual - listing on the A - share and H - share markets, raising funds for overseas production - capacity expansion and market development, and its overseas revenue accounts for 47.53%...
This wave of overseas expansion marks that the Chinese power semiconductor industry has entered a new "outward - looking" stage of actively participating in global competition and integrating global resources from the previous "inward - looking" development focused on meeting domestic substitution needs, truly beginning to show competitiveness in the high - end value chain.
Opportunities and Challenges from "Comeback" to "Leading"
The rise of power semiconductors is a vivid epitome of the Chinese semiconductor industry's journey towards self - control.
From the substitution breakthrough in the domestic market to the cooperation rush of international giants, from the collective rise of domestic enterprises to the increase in global market share, the Chinese power semiconductor industry has achieved a significant improvement in industrial level in just a few years, making a leap from "following" to "running side by side", and entering the "local leading" stage in some fields.
Looking forward, the battlefield has shifted