Power Electronics Market

Report Scope & Overview:

Power Electronics Market Size will be valued at USD 54.69 billion by 2030, and it was valued at USD 39.66 billion in 2022, and grow at a CAGR of 4.1% over the forecast period 2023-2030.

In mixed and commercial cars, power electronics are utilized to save expenses by reducing energy usage and other associated expenditures. Miles and congestion are also reduced thanks to the features. All of these elements contribute to improved battery performance. The Power Electronics Market is expected to grow at a worldwide level due to growth drivers. Its use is influenced by environmental concerns. Market demand is accelerated by public awareness of the benefits of using environmentally friendly products and economies. Power tools are installed on a range of devices for usage in a variety of applications, including efficient engine systems, self-defense systems, aviation controls, and more. These apps entice potential clients.

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Energy is a driving force, and increased energy consumption helps to minimise energy consumption. Your consumption reflects increased mileage and longer battery life. Electrical power is used for defence reasons such as unmanned aerial vehicles, aircraft controllers, and military radars, which boosts market sales. Electronic equipment trends in the military and aerospace sectors are generating a wide range of market opportunities. Enhances intelligence and monitoring capabilities. power Electrical equipment also addresses issues such as weight, cost, energy stability, and size. These elements aid forecasts by allowing the Power Electric Market to reach its maximum value.

MARKET DYNAMICS: 

KEY DRIVERS:

• Increasing demand for renewable energy.

• The use of portable energy is becoming more popular.

• Electronics are increasingly being used for defensive purposes.

RESTRAINTS: 

• Complicated process of integration for electronic devices. 

OPPORTUNITIES: 

• Electronic devices are used in the defense and aerospace sector.

• Solve the problem of weight, costs, power stability, size and many more.

CHALLENGES: 

• Grid capacity for the integration of power devices.

• Increased production cost.

IMPACT OF COVID-19:  

Many automobile and assembly plants remained closed as a result of the COVID-19 epidemic. It all started in China, with various economies throughout the world closing at the same moment. It triggered a downturn and halted part demand and production. When the pandemic crisis is rectified, the power electronics business will rise again in the coming years.

Based on the wafer size, The global market is segmented into silicon, silicon carbide, gallium nitride, and other materials utilised in the sector based on materials. The greatest market size was determined for silicon, which is likely to dominate the market during the forecast period. Silicon's application in many types of electrical equipment and gadgets has resulted in the property having the highest proportion of the market.

Based on application, The power electronics market is divided into ICT, energy, consumer electronics, industry, automotive, aerospace & defence, and other industries. The energy market share is determined by the size of the enormous market, which generated extremely high profits. The automotive application is projected to increase quickly. Part of the growth can be ascribed to the growing demand for energy-efficient electric vehicles, which helps to reduce the environmental impact of pollution growth. The need to save the environment and natural resources such as natural gas and oil is leading to the development of alternative modes such as hybrids and electric vehicles, which are also increasing the use of energy-efficient resources. As a result of its potential to improve and reduce energy usage, power appliances are becoming increasingly popular in the automotive industry.

COMPETITIVE LANDSCAPE:

The key market players are Alpha & Omega Semiconductor, Analog Devices Inc, Infineon Technologies AG, Renesas Electronics Corporation, Infineon Technologies, STMicroelectronics, Vishay Intertechnology, NXP Semiconductors, Texas Instruments, AMS AG, Diodes Incorporated, Toshiba Electronic Devices & Storage Corporation, ON Semiconductor, Mitsubishi Electric, Fuji Electric, ABB and Other.

MARKET SEGMENTATION:

BY WAFER TYPE

• Gallium Nitride

• Silicon Carbide

• Silicon

• Others

BY COMPONENT

• Thyristor

• Gate Turn-Off Transistor (GTO)

• Silicon Controlled rectifier (SCR)

• Static Switches

• MCT (MOS-Controlled Thyristor)

• AC/DC Converter

• MOSFET

• Others

BY WAFER SIZE

• 450mm

• 200mm

• 300mm

• 150mm

BY APPLICATION

• Defense and Aerospace

• Utilities and Energy

• Transportation

• Consumer Electronics

• Telecommunications and IT

• Automotive

• Industrial

• Others

BY DEVICE

• Discrete

• IC

• Module

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REGIONAL ANALYSIS:

The Asia Pacific region controls the majority of the worldwide market. The region is likely to grow significantly and maintain its dominance. In the Asia Pacific region, lucrative potential in consumer electronics, automotive, ICT, and industrial applications have resulted in significant market share and regional growth. has resulted in a huge increase in production processes by various prominent manufacturers of specific specifications across the region.

Furthermore, the costs and benefits of operating, as well as the initiatives implemented by governments in emerging countries such as China, South Korea, India, and Singapore, entice investors and industry leaders to set up production units in the region. This enhances domestic manufacturing activities for certain locations in the Asia-Pacific region, resulting in the creation of new industries. All of these factors are projected to contribute to the market's expansion in Asia Pacific.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America