Power Electronics Market Size, Share, Growth Report 2030

Global Power Electronics Market Size Analysis

The global Power Electronics market, which was estimated at approximately 23 (USD Billion) in 2019 and is predicted to accrue earnings worth nearly 35 (USD Billion) by 2026, is set to record a CAGR of nearly 5% over 2020-2026. The report offers valuation and analysis of Power Electronics market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Introduction

Power electronics is the application of solid state electronics and is utilized for controlling & transforming electric power. It is a branch of electronics that encompasses the analysis and designing of myriad circuits capable of transforming electrical energy into other form of energy. Additionally, power electronics make use of various equipment including semiconductor equipment, inductors, and capacitors. Furthermore, it assists the power management sector in improving the power conservation in consumer electronics, industrial systems, and electric vehicles. Additionally, power electronics has myriad applications in transport, automotive, defense & aviation, and consumer electronics goods sectors.

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Market Growth Dynamics

Escalating demand for power-efficient device as well as battery-charged equipment is projected to impel the overall industry growth over the forecast timespan. Surge in acceptance of power electronics can be attributed to the introduction of electric cars as well as hybrid cars along with the use of internet of things & sensor technology in the automotive sector. Large-scale utilization of power electronics in consumer electronics, defense & aerospace, and energy & power sectors will steer the business trends.

Furthermore, massive popularity of silicon-based PV cells across emerging economies like China, India, and Brazil will propel the business growth. However, the huge costs of power electronics equipment will impede the expansion of power electronics industry over the forthcoming years. However, escalating use of plug-in electric automobiles along with adding of new features to power metal oxide semiconductor field effect transistors will offset the negative impact of the hindrances on the market by creating humungous product demand across the globe.

Europe Power Electronics Market Size To Witness Mammoth Growth By 2026

The expansion of industry in the sub-continent over the forecast timespan is attributed to allocation of large funds by the government for electric vehicle producers along with subsidies for the vehicle purchasers. Countries like Germany, France, and the UK are expected to steer the regional market growth both in terms of value and size. Apart from this, large number of the vehicle manufacturers in Germany, Italy, UK, and France are focusing on production of electric vehicles to reduce fuel emissions from vehicles as per guidelines stated in the Paris accord and due to stringent EU environmental laws. This, in turn, will enlarge the penetration of power electronics devices in the automotive sector of Europe, thereby impelling the regional industry trends.

Key participants profiled in the report 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. 

This report segments the global power electronics market as follows:

Power Electronics Market: Device Analysis

• Power Diodes
• Metal-Oxide-Semiconductor Field-Effect Transistor
• Bipolar-Junction Transistor
• Insulated-Gate Bipolar Transistor
• Thyristor

Power Electronics Market: Type Analysis

• Power IC
• Power Module
• Power Discrete

Power Electronics Market: Application Segment Analysis

• Consumer Electronics
• Energy & Power
• Industrial System
• Inverter & UPS
• Industrial System
• Others        

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa