Market Research Report
Power Electronics Market by Material, Device Type (Discrete, Module, and IC), Application, Vertical (ICT, Consumer Electronics, Energy and Power, Industrial, Automotive, and Aerospace & Defense), and Geography - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||302670|
|Published||Content info||130 Pages
|Power Electronics Market by Material, Device Type (Discrete, Module, and IC), Application, Vertical (ICT, Consumer Electronics, Energy and Power, Industrial, Automotive, and Aerospace & Defense), and Geography - Global Forecast to 2023|
|Published: June 4, 2018||Content info: 130 Pages||
The power electronics market is expected to grow from USD 39.03 billion in 2018 to USD 51.01 billion by 2023, at a CAGR of 5.5% between 2018 and 2023. Growing demand for energy-efficient battery-powered portable devices and upgrade of power infrastructure are the major drivers for the power electronics market growth, while complex design and integration process for advanced technological devices restrain the growth of the power electronics market.
This growth is attributed to the increasing use of power devices in automotive and industrial verticals. The market for power discrete in transportation applications is showing significant growth, as the production of hybrid and electric vehicles is growing at a high pace. Moreover, to reduce power consumption, power discrete devices are used in majority of the verticals such as energy & power, ICT, consumer electronics, automotive, industrial, and others.
The advent of electric vehicles (EVs) is one of the most important steps of environment conservation. These vehicles do not use any fuel and, thus, do not emit harmful gases. This factor has accelerated the growth of the electric vehicles market. As these vehicles completely rely on electrical power supply, the use of electronic devices is more in these vehicles. These devices are poised to have a greater impact on the power electronics market in the coming years.
The continuous demand for power in the industrial vertical plays a crucial role in the adoption of power electronics. The increasing demand for HVDC grids in China and India and the adoption of Greenfield projects for generating energy from renewable sources are expected to drive the growth of the power electronics market in APAC. Moreover, the automobile vertical plays a vital role in the power electronics market as it is one of the fastest-growing verticals in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profiles of primary participants has been given below:
Major players in the power electronics market are: Infineon Technologies (Germany), Texas Instruments (US), On Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric (Japan), Fuji Electric (Japan), Renesas Electronics (Japan), Toshiba (Japan), NXP Semiconductors (The Netherland), Vishay Intertechnology (US), Maxim Integrated Products (US), SEMIKRON (Germany), ABB (Switzerland), Hitachi(Japan), Analog Devices (US), ROHM Semiconductor (Japan), Microsemi (US), Littelfuse (US), Microchip Technology (US), and Danfoss (Denmark).
The report defines, describes, and forecasts the power electronics market based on device type, material, application, vertical, and geography. It provides detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the power electronics market. It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, and product launches carried out by the key players to grow in the market.
*Business overview, Products offered, Recent developments, MNM view, SWOT analysis might not be captured in case of unlisted companies.