The Global Power Electronics Market size is estimated to be USD 43.63 billion in 2019 and is predicted to reach USD 109.22 billion by 2030 with a CAGR of 11.9% from 2020-2030. Power Electronics is a circuit which controls the power into electricity from the source in convenient and efficient manner. These circuits consist of various electrical components such as diodes, transmitter, transistors and others. These circuits are used in various consumer electronics to increase its efficiency and also enhance the energy conservation. Power electronics have unidirectional and bidirectional flow of energy as per the usage.
Market Dynamics and Trends
The constant modernization and improvement in the infrastructure and technological advancements are expected to enhance the market growth. Furthermore, increased use of power electronics coupled with increased demand of consumer electronics are also expected to fuel the growth of power electronics market.
The other factors include increased demand of power management coupled with wide applications with optimized power loss are also expected to promote the market growth. However, high deployment cost and current leakage at high temperature are expected to inhibit the growth of power electronics market. Furthermore, increased use of smart grid and power saving devices with high voltage are further expected to create ample opportunities in the power electronics market over the forecast period.
Market Segmentations and Scope of the Study:
The global power electronics market share is analyzed on the basis of device, type, application and geography. On the basis of device, the market is segmented into Power Diodes, Metal-Oxide-Semiconductor Field-Effect Transistor (MOSFET), Bipolar-Junction Transistor (BJT), Insulated-Gate Bipolar Transistor (IGBT) and Thyristor (SCR, GTO, and MCT). Based on type, the market is fragmented into Power IC, Power Module, and Power Discrete. On the basis of application, the market is divided into Consumer Electronics, Energy & Power, Industrial System, Inverter & UPS, Industrial System, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America is expected to account for the major market share over the forecast period with moderate growth owing to the increased adoption of power electronics. Moreover, increase in technological advancement and presence of developed infrastructure is further expected to support the growth of power electronics market.
Asia Pacific is expected to show rapid growth with consistent development in market share owing to the increased demand of consumer electronics. Furthermore, wide applications and increased demand of power conservation with increased use of renewable sources of energy are also expected to drive the growth of power electronics market.
The power electronics market, which is highly competitive, consists of various market players. Some of the major market players include Mitsubishi Electric Corp., Infineon Technologies AG, Toshiba Corporation, STMicroelectronics, ABB Group, Rockwell Automation, Inc., Renesas Electronics Corporation, Fuji Electric Co. Ltd., Texas Instruments, Inc. and Microsemi Corporation among others.
Over the period of time there have been various developments taken place in the market and also expected to takes place in near future. For instance, in August 2019, Toshiba International Corporation (TIC) has announced the addition of Stockdales Electric Motor Corp. (SEMC) to their international network of distributors. SEMC now offers the full range of Toshiba motors, adjustable speed drives, and motor control products through their Saskatchewan offices.
- The power electronics market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the power electronics market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the power electronics market is provided in the report.
- The competitive analysis of the market players along with their market share in the global power electronics market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Power Electronics market – By Device
- Power Diodes
- Metal-Oxide-Semiconductor Field-Effect Transistor (MOSFET)
- Bipolar-Junction Transistor (BJT)
- Insulated-Gate Bipolar Transistor (IGBT)
- Thyristor (SCR, GTO, and MCT)
- Global Power Electronics market – By Type
- Power IC
- Power Module
- Power Discrete
- Global Power Electronics market – By Application
- Consumer Electronics
- Energy & Power
- Industrial System
- Inverter & UPS
- Industrial System
- Global Power Electronics market –By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of RoW
- North America