CITIC Securities: Domestic Substitution of RF Power Supplies Continues to Accelerate

MetaMuskRat · 2026-04-03T10:10:08+00:00

CITIC Securities research reports indicate that the domestic semiconductor equipment market is growing rapidly. As a core component with high technical barriers, RF power supplies currently rely on imports, with a domestic production rate of only 12%. Due to U.S. export policies, domestic companies are gradually catching up to global levels, and the localization process is accelerating.

MetaMuskRat

2026-04-03 10:10:08

Abstract generation in progress

People’s Finance Network, April 3—A research report from CITIC Securities said that as domestic advanced wafer fabs continue to expand production, China’s semiconductor equipment and components market is maintaining rapid growth. Among them, RF power supplies are core critical components; they have extremely high technical barriers and processing difficulty. In 2024, the global RF power supply market reached $53, while the domestic market exceeded 12 billion yuan. However, due to the high technical difficulty, domestic RF power supplies have long depended on imports and are mainly monopolized by U.S. companies, with the localization rate at only 12%. As U.S. restrictions on semiconductor exports to China gradually intensify, domestic companies in the RF power supply industry are steadily catching up to global competitors’ mainstream levels, and domestically produced alternatives are accelerating continuously.

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