Global Power Electronics Market is estimated to reach $27 Billion by 2024; growing at a CAGR of 8.6% from 2016 to 2024. Power electronics is a device used to control the transformation of electric power from one form to another using diodes, transistors, and thyristors. It transfers power from a source to a load in an efficient and robust manner to ensure convenient utilization. Adoption of power electronics have increased in electric vehicles and renewable energy plant systems driven by its competency to improve switching speed and avoid power loss. Increasing demand for electric vehicles and glorified need for high voltage operating devices have led to an increased demand for power electronics across various industries such as automotive, energy & power, and consumer electronics.
The global power electronics market is majorly driven by rise in adoption of power electronics in electric vehicles, enhanced efficiency & improved durability of power electronics and aggrandized need for power management devices. However, current leakage at high temperature would act as a restraint for the market. Government initiatives in smart grid and HVDC are expected to generate new business opportunities for the market in the coming years.
Key segments of the power electronics market are type, device, application, and geography. Type segment includes power module, power discrete, and power IC. Device segment is segregated into power diodes, thyristor, insulated-gate bipolar transistor, bipolar-junction transistor, and metal-oxide-semiconductor field-effect transistor. Industrial system, energy & power, inverter & UPS, consumer electronics are the major applications of power electronics market.
Based on geography, the global power electronics market has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers UK, France, Germany, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major players in the power electronics market are Toshiba Corporation, Infineon Technologies AG, ABB Group, Fuji Electric Co. Ltd., Mitsubishi Electric Corp., Rockwell Automation, Inc., Texas Instruments, Inc., Microsemi Corporation, STMicroelectronics, and Renesas Electronics Corporation, among others.
The key takeaways from the report
- The report will provide detailed analysis of the Power Electronics Market with respect to major segments such as type, device, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities of the Power Electronics Market
- An exhaustive regional analysis of the Power Electronics Market from 2015 to 2024 has been included in the report
- Profile of the key players in the Power Electronics Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of Power Electronics Market
- Power Module
- Power IC
- Power Discrete
- Power Diodes
- Bipolar-Junction Transistor
- Insulated-Gate Bipolar Transistor
- Metal-Oxide-Semiconductor Field-Effect Transistor
- Industrial System
- Energy & Power
- Inverter & UPS
- Consumer Electronics
- North America
? South Korea
? South America
? Middle East