02-Dec-2020 | Zion Market Research
Researchers at Zion Market Research state that the global power electronics market was valued at about USD 23 billion in 2019 and is projected to attain a value of around USD 35 billion by 2026 with highest gains of nearly 5% during the estimated timespan. Some of the key participants within the global minimally invasive surgery market are Renesas Electronics Corporation, ABB Group, Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corp., STMicroelectronics, Rockwell Automation, Inc., Toshiba Corporation, Fuji Electric Co. Ltd., and Texas Instruments, Inc.
Massive Demand For Energy Conservation To Enlarge Market Size By 2026
Need for improving the power infrastructure along with massive renewable energy trends to drive the market growth over the forthcoming years. In addition to this, large-scale utilization of power harvesting techniques are projected to steer the expansion of power electronics industry in the years ahead. Apparently, lucrative demand for power electronics devices in electric vehicles as well as hybrid vehicles will proliferate the industry growth in the years ahead. In addition to this, embedding of power electronic components in consumer electronic goods will not only add new features to the products, but will help the power electronics industry enter new era of growth over the coming decade.
Automotive Segment To Dominate Application Landscape By 2026
The growth of the segment over the forecast timeline is attributed to large-scale use of power electronics parts in safety & security systems, powertrains, and infotainment equipment. Apart from this, rise in the demand for power electronics in electric vehicles due to huge government focus on producing vehicles that do not emit green-house gases will help the market reach higher terrains of growth during the forecast period. Additionally, power electronics are also utilized in passenger cars in the developing countries and this will further enhance the growth of the segment over the ensuing years.
Revenue of European Market To Grow Leaps & Bounds Over 2020-2026
The expansion of the power electronics business in the continent over the forecast timespan is credited to favorable schemes introduced by EU aiming at substitution of nearly eighty percent of conventional electric meters by smart electric meters by end of 2020. In addition to this, introduction of subsidies & discounts for electric vehicle purchasers and setting up of charging stations across various countries of Europe will proliferate the market growth in Europe over the years ahead. Countries like Germany, Italy, and UK are likely to be major regional revenue contributors over the forecast timespan.
Browse the full “Power Electronics Market - By Device (Power Diodes, Metal-Oxide-Semiconductor Field-Effect Transistor, Bipolar-Junction Transistor, Insulated-Gate Bipolar Transistor, and Thyristor), By Type (Power IC, Power Module, and Power Discrete), By Application (Consumer Electronics, Energy & Power, Industrial System, Inverter & UPS, Industrial System, And Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/power-electronics-industry
This report segments the global power electronics market as follows:
Power Electronics Market: Device Analysis
Power Electronics Market: Type Analysis
Power Electronics Market: Application Segment Analysis
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