Market Research Report
Global Power Electronics Market, By Device Type, By Material, By Voltage, By Application, By Region, Competition Forecast & Opportunities, 2016-2026
|Global Power Electronics Market, By Device Type, By Material, By Voltage, By Application, By Region, Competition Forecast & Opportunities, 2016-2026|
Published: June 1, 2021
Content info: 117 Pages
Delivery time: 2-3 business days
The global power electronics market was valued at USD38.18 billion in 2020 and is expected to grow at CAGR of 5.6% during the forecast period. The global power electronics market is driven by growing trend for Electric Vehicles (EVs) and Hybrid Vehicles (HVs). Additionally, the growing popularity of renewable sources of energy among developing and emerging economies is expected to increase the demand for power discrete and power modules. Furthermore, the emergence of smart grid that serves the purpose of efficient and reliable electricity supply, integration of more renewable energy into an existing network and supporting the development of electric vehicles at a scale is expected to further bolster the market growth over the next few years.
The global power electronics market is segmented based on device type, material, voltage, application and region. Based on device type, the market can be split into Power Discrete, Power Module and Power IC. The power discrete devices hold the largest market share due to their low cost, but power modules are expected to show growth in the market because of their application in industrial or renewable energy converters and in electric and hybrid electric vehicles.
Based on material, the global power electronics market is segmented into Silicon, Silicon Carbide, Gallium Nitride and Others. Silicon has the largest share due to its good semiconductor properties and early adaptivity. However, companies are continuously investing in research & development to find materials like SiC, GaN, etc. with better chemical properties.
In terms of voltage, the market is divided into Low Voltage, Medium Voltage & High Voltage. Medium voltage power electronic devices used in consumer electronics dominated the market till now, but the future is of the high voltage power electronic devices which find use in smart grids & renewable energy source supply.
Based on application, the market is segmented into ICT, Consumer Electronics, Industrial, Automotive, Aerospace & Defense and Others. The automotive sector led the power electronics market followed by the aerospace & defense and industrial sectors.
Considering the regional landscape, the market has been segmented into including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, Asia-Pacific is expected to dominate the market on account of the expanding economies such as China, India etc. and their commitments to reduced carbon emissions setting up solar power plants and wind turbines. The governments are also encouraging the use of electric vehicles by introducing various incentives.
The major players operating in the global power electronics market are Infineon Technologies AG, ON Semiconductor Corporation, STMicroelectronics N.V., Mitsubishi Electric Corporation, Toshiba Corporation, Texas Instruments Inc., Fuji Electric Co., Ltd.,
Renesas Electronics Corporation, Vishay Intertechnology, Inc., NXP Semiconductors N.V
, etc. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of the Global Power Electronics Market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these Device types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the Global Power Electronics Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Aerospace & Defense
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global power electronics market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: