Power Electronics Market to Grow Substantially on Account of Rising Demand for Energy Efficiency and Advancements in Semiconductor Technologies
Research Reports
Sep 28, 2023
Power Electronics Market Scope & Overview
The Power Electronics Market, projected to reach a value of USD 54.69 billion by 2030, had a valuation of USD 39.66 billion in 2022 and is anticipated to grow at a CAGR of 4.1% during the forecast period spanning from 2023 to 2030, according to the SNS Insider report.
Power electronics is a specialized field of electrical engineering that deals with the conversion, control, and manipulation of electrical power. It encompasses the study, design, and implementation of various electronic devices and systems that can efficiently convert and regulate electrical energy from one form to another.
Market Analysis
The global shift towards sustainable transportation solutions has accelerated the adoption of electric vehicles (EVs). Power electronics are vital in EVs, facilitating efficient battery charging, motor control, and energy recuperation during braking. With governments implementing stringent emission regulations and offering incentives to promote EV adoption, the demand for power electronics in the automotive sector is set to surge. As EV infrastructure improves and battery technologies advance, the power electronics market will likely witness robust growth.
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Key Players Covered in Power Electronics market report 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.
Impact of Recession
The power electronics market, like many others, faces significant challenges during times of recession. Demand fluctuations, slowed technological advancements, supply chain disruptions, and increased cost pressures are among the primary concerns. However, these difficult periods also present opportunities for the industry to refocus on efficiency, sustainability, and innovation. By weathering the storm and adapting to changing market dynamics, the power electronics sector can emerge stronger and more resilient in the post-recession era.
Segmentation Analysis
The power electronics market is experiencing a paradigm shift, driven by the relentless pursuit of efficiency and performance. The convergence of Gallium Nitride and the Automotive Sector has the potential to revolutionize industries, ranging from consumer electronics to automotive transportation. GaN’s exceptional material properties and the Automotive Sector’s transition towards electrification have positioned these segments to dominate the market.
Power Electronics Market Segmentation as Follows:
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
Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other
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Regional Status & Analysis
With a combination of thriving industries, a push for sustainable energy solutions, smart city initiatives, and the widespread adoption of electric vehicles, the Asia Pacific region is primed to emerge as the dominant force in the global power electronics market. As companies in the region continue to innovate and collaborate, they are likely to drive advancements that will shape the future of power electronics worldwide. Embracing these transformative technologies, the Asia Pacific is destined to lead the charge towards a more energy-efficient and sustainable future.
Conclusion
The market holds immense potential for growth and innovation, driven by the increasing demand for energy-efficient solutions and advancements in semiconductor technologies. As renewable energy adoption, electric vehicles, and smart grid implementations continue to gain momentum, the significance of power electronics will only intensify.
Table of Content – Analysis of Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Power Electronics Market Segmentation, By Type
9. Power Electronics Market Segmentation, By Component
10. Power Electronics Market Segmentation, By Wafer Size
11. Power Electronics Market Segmentation, By Application
12. Power Electronics Market Segmentation, By Device
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion
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Frequently Asked Questions/ Key Reasons to Purchase this Report
Q1. What is the projected outlook for power electronics market growth?
ANS: The market is projected to surpass USD 54.69 billion by the year 2030.
Q2. What are the major factors influencing the power electronics market?
ANS: As EV infrastructure improves and battery technologies advance, the market will likely witness robust growth.
Q3. Who are the leading players in the power electronics market?
ANS: Analog Devices Inc, Renesas Electronics Corporation, Infineon Technologies, STMicroelectronics, NXP Semiconductors, Texas Instruments, Toshiba Electronic Devices & Storage Corporation, Mitsubishi Electric, Fuji Electric.
Contact Information:
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