The size and share of the Power Electronics Market are estimated at USD 37.88 Billion in 2021 and is expected to expand at a CAGR of 6.1% to USD 48.96 Billion by 2026.
Power electronics is the application of solid-state electronics to the control and transfer of electrical power. Mercury-arc valves were the first high-power electronic devices. For modern systems, the conversion takes place with semiconductor switching devices such as diodes, thyristors and power transistors such as MOSFET and IGBT. In comparison to the electronic systems dealing with the transmission and storage of signals and data, a significant amount of electrical energy is used in power electronics.
The AC/DC converter is the most common power electronic device used in many consumer electronic products, e.g. television sets, personal computers, battery chargers, etc. Usually, the power spectrum is from tens of watts to several hundred watts. The growing application in industry is the variable speed drive (VSD) that is used to power the induction motor. The power spectrum of VSDs begins from a few hundred watts and finishes at tens of megawatts.
The number of applications for power electronic devices is growing in various sectors, especially in the automotive industry. The market for power electronic devices in the automotive industry is driven by the production of electric vehicles (EVs) and hybrid electric vehicles (HEVs). Also, the increase in the number of infotainment applications in automobiles is generating a higher power density demand for these phones.
These devices are also used in the defence sector, where they provide the military with a reliable source of energy to assist with their weapons and communication needs. Healthcare, consumer electronics and telecommunications are other industries where the use of these tools is growing.
Market Growth Drivers
The increasing developments in Power Electronics technology have enabled their extensive adoption across energy & power, automotive, consumer electronics and other sectors.
The switch to renewable energy sources is likely to boost industry sales significantly. The use of inverters in solar systems to store large amounts of energy has made electric power valuable. Changes in distribution systems coupled with bankable Chinese products have expanded their range for commercial, residential and utility projects, propelling the power electronics market.
Current high-temperature leakage and high network installation costs impede the growth of the Power Electronics Market. The saturated market with constant innovations from crucial players can also be considered as a small restraint to the new entrants to the Power Electronics market.
Market Size Available
2019 – 2025
2020 - 2025
By Type, Material, End-user, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
Infineon Technologies, Texas Instruments, Hitachi, Fuji Electric, Toshiba, STMicroelectronics, Mitsubishi Electric, On Semiconductor, SEMIKRON, Renesas Electronics, NXP Semiconductors, Maxim Integrated Products, ABB.
Market Segmentation for the Power Electronics Market until 2025.
Power Electronics Market - By Type
Based on the Type, Power Electronics market is segmented into, Power Module, Power Discrete, Power IC. Of these, in terms of market share, the power module segment dominated the global market and is expected to maintain this trend across the whole forecast period. Nevertheless, the power IC segment is expected to see rapid growth. Nowadays, the requirement for portable devices is increasing with the evolution of digitalization, Internet of Things (IoT), smart city, and cloud computing. The increasing demand for portable devices, which are energy-efficient and powered by batteries, is driving the growth of the market for power management ICs.
Power Electronics Market - By End-Use
Based on the End-Use, Power Electronics market is segmented into Automotive, Aerospace and Defence, Information Technology, Consumer Electronics, Energy and Power. Of these, the automotive segment provides lucrative opportunities for industry players and is expected to show higher growth compared to the other sections. The increased adoption of electric vehicles as a result of increased environmental concerns is the primary driver of this segment.
Power Electronics Market - By Material
Based on material, the Power Electronics market is segmented into gallium nitride, silicon carbide, silicon, sapphire and others. The silicon segment is expected to be the dominant product used in the market for power electronics up to 2023. This can be due to its compatibility with different substrates and its wide range of applications in consumer electronic products.
Power Electronics Market – By Region
The Power Electronics Market Report includes Region analysis with their respective Countries.
North America Power Electronics Market includes U.S, Canada
Europe Power Electronics Market includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe
Asia Pacific Power Electronics Market includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC
Latin America Power Electronics Market includes Brazil, Mexico, Argentina, Chile & Rest of LATAM
Middle East & Africa Power Electronics Market includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA
Geographically, Asia Pacific grabs the largest share for the global power electronics market, followed by North America and Europe. Breakdowns in energy harvesting techniques coupled with the establishment of hubs in China, India and Japan are likely to boost regional market revenues. The introduction of automation to increase production, combined with increasing demand for electric and hybrid vehicles, could bode well for the market.
North America is expected to be a lucrative investment market through the implementation of renewable energy sources. Government-initiated measures to enable customers to switch from mechanical to electrical power sources could bode well for the industry. In addition, the success of electric vehicles, thanks to ergonomic designs and power comparable to existing cars, can further expand the demand. It is expected that the new generation of MOSFET transistors with high voltage capability and improved performance would encourage the development of the market for power electronics.
Some of the key players of the Global Power Electronics market include Infineon Technologies, Texas Instruments, Hitachi, Fuji Electric, Toshiba, STMicroelectronics, Mitsubishi Electric, On Semiconductor, SEMIKRON, Renesas Electronics, NXP Semiconductors, Vishay Intertechnology, Maxim Integrated Products, ABB.
If your looking for Discount please request here @ https://www.marketdataforecast.com/market-reports/power-electronics-market/discount
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By End-Use
5.1.3 Aerospace and Defence
5.1.5 Consumer Electronics
5.1.6 Energy and Power
5.1.7 Y-o-Y Growth Analysis
5.1.8 Market Attractiveness Analysis
5.1.9 Market Share Analysis
5.2 By Type
5.2.2 Power Module
5.2.3 Power Discrete
5.2.4 Power IC
5.2.5 Y-o-Y Growth Analysis
5.2.6 Market Attractiveness Analysis
5.2.7 Market Share Analysis
5.3 By Material Type
5.3.2 Gallium Nitrade
5.3.4 Silicon Carbide
5.3.5 Y-o-Y Growth Analysis
5.3.6 Market Attractiveness Analysis
5.3.7 Market Share Analysis
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By End-Use
188.8.131.52 By Material Type
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By End-Use
18.104.22.168 By Material Type
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By End-Use
188.8.131.52 By Material Type
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leader Analysis
8.1 Infineon Technologies
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Texas Intruments
8.4 Fuji Electric
8.7 Mitsubishi Electric
8.8 On Semiconductor
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
Global Power Electronics Market By Region, From 2021-2026 ( USD Billion )
Global Power Electronics Market By End-User, From 2021-2026 ( USD Billion )
Global Automotive Market By Region, From 2021-2026 ( USD Billion )
Global Aerospace and Defense Market By Region, From 2021-2026 ( USD Billion )
Global Information Technology Market By Region, From 2021-2026 ( USD Billion )
Global Consumer Electronics Market By Region, From 2021-2026 ( USD Billion )
Global Energy and Power Market By Region, From 2021-2026 ( USD Billion )
Global Power Electronics Market By Type, From 2021-2026 ( USD Billion )
Global Power Module Market By Region, From 2021-2026 ( USD Billion )
Global Power Discrete Market By Region, From 2021-2026 ( USD Billion )
Global Power IC Market By Region, From 2021-2026 ( USD Billion )
Global Power Electronics Market By Material Type, From 2021-2026 ( USD Billion )
Global Sapphire Market By Region, From 2021-2026 ( USD Billion )
Global Aluminium Nitride Market By Region, From 2021-2026 ( USD Billion )
Global Silicon Market By Region, From 2021-2026 ( USD Billion )
Global Silicon Carbide Market By Region, From 2021-2026 ( USD Billion )