Global Power Semiconductor Shortage Worsens: Lead Times Stretch to 30+ Weeks, Price Hikes Sweep Industry

May 4, 2026 — The global power semiconductor market is grappling with a worsening supply crunch, as lead times for key components have extended to as long as 30 weeks, and major manufacturers including Infineon, Texas Instruments (TI), and STMicroelectronics have launched successive price increases. Driven by the explosive growth of AI data centers, the popularization of 800V high-voltage architectures, and tight mature-process production capacity, the shortage has evolved into a structural imbalance that is expected to persist through the second half of 2026, industry analysts warn.

Supply Strain Hits Mainstream Components

The supply strain is most evident in mainstream power semiconductor categories.

• MOSFETs: Widely used in consumer electronics and server power supplies, these have become the first to reflect the shortage trend. Particularly high-voltage MOSFETs are in short supply. Fueled by surging demand for AI server power supplies, these components require larger die sizes and consume more production capacity, further exacerbating the scarcity of 8-inch wafers—a critical bottleneck in the manufacturing process.
• IGBTs: Another core product, IGBTs are also facing supply constraints amid a focus on modularization and improved automotive-grade reliability. Projections show they will account for approximately 55% of electronic control tasks outside the main drive of global electric passenger vehicles over the next five years.

New Choke Points Emerge: Power management integrated circuits (PMICs) and server management chips (BMCs) have become critical bottlenecks. As AI servers grow increasingly power-hungry—with per-rack power consumption jumping from 30kW to 60-120kW—demand has skyrocketed. Lead times for PMICs have stretched to 35-40 weeks. Samsung’s decision to shut down an 8-inch wafer fab in South Korea has further tightened capacity for these analog/mixed-signal chips.

Widespread Price Hikes Across the Industry

The shortage has quickly translated into widespread price hikes.

Note: Other major IDM manufacturers like STMicroelectronics and ON Semiconductor have also issued price adjustment notices.

Root Causes: Costs, Capacity, and Geopolitics

Industry experts attribute the shortage to three overlapping factors:

1. Rigid Cost Increases: Prices of copper, aluminum, palladium, and silver—key materials for semiconductor packaging—have risen sharply since 2025. Packaging costs now account for 50% to 80% of the total cost for medium and low-power devices.
2. Lagging Capacity Expansion: Major global IDM manufacturers tightened capital expenditures since 2024. While Infineon’s €5 billion Smart Power Fab in Dresden opens in Summer 2026, it is primarily a capacity transformation project. Building new fabs typically takes 1 to 2 years.
3. Geopolitical Restructuring: Supply chain shifts are driving manufacturers to secure local capacity, further straining existing resources.

The 800V Shift and WBG Demand

The transition toward 800V high-voltage direct current (HVDC) architectures in AI data centers and electric vehicles has amplified demand. NVIDIA has identified 800V HVDC as a core architecture for next-generation AI factories to meet megawatt-level power needs.

This transition has spurred demand for high-voltage power components:

• Silicon Carbide (SiC): Handles high-voltage conversion in solid-state transformers.
• Gallium Nitride (GaN): Enables precise voltage regulation for GPUs with 30% lower power loss.

Market Outlook for WBG:
TrendForce predicts the global SiC power component market will reach $5.33 billion in 2026, while the GaN power device market is expected to grow 58% year-on-year to $920 million.

Industry Consolidation and Future Outlook

Industry players are scrambling to address the supply gap through investment and consolidation.

• Japan: Toshiba, Rohm, and Mitsubishi Electric signed a basic agreement in late March to integrate their power semiconductor businesses, aiming to create the world’s second-largest power device company.
• Investments: ON Semiconductor announced a $2 billion investment in a Czech Republic facility, while Infineon plans to invest €2.7 billion in fiscal 2026.

Market Projection: Analysts at GII project the global power semiconductor market will grow from $59.77 billion in 2025 to $62.93 billion in 2026. However, the current supply shortage is expected to disrupt production schedules for automotive, industrial automation, and data center construction in the coming months.

“The power semiconductor industry is undergoing a structural transformation driven by AI and electrification,” said an industry insider. “Until new capacity comes online and supply-demand balance is restored, the shortage will remain a key challenge for global manufacturers.”