According to the latest report by IMARC Group, titled “Power Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global power electronics market reached a value of US$ 27.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 39.9 Billion by 2027, exhibiting at a CAGR of 6.48% during 2022-2027.
Power electronics involves studying, analyzing, and designing circuits that convert electrical energy from one form to another. It is extensively utilized in consumer electronics, such as television (TV) sets, personal computers (PCs), battery chargers, etc. Presently, numerous manufacturers are introducing modern power electronics, wherein electric power is converted using semiconductor switching devices. These devices include thyristors, diodes, power metal-oxide-semiconductor field-effect transistor (MOSFET), insulated-gate bipolar transistor (IGBT), etc.
Request for a free sample copy of this report: https://www.imarcgroup.com/power-electronics-market/requestsample
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The growing dependence on consumer electronics, owing to the elevating levels of urbanization and disposable incomes, is primarily driving the power electronics market. In line with this, the rising popularity of electronic devices, including fan regulators, air conditioners, induction cooking, vacuum cleaners, uninterrupted power systems (UPS), etc., is propelling the product demand. Moreover, the escalating adoption of various electronic devices, such as pumps, blowers, rotary kilns, arc furnaces, elevators, compressors, etc., in several manufacturing units, including textile mills, is further bolstering the market growth. Besides this, power electronics is gaining traction in the automotive industry for enabling electric power steering, interior lighting, seat control, braking system, central body control, etc., in vehicles., which is acting as another significant growth-inducing factor. Furthermore, the inflating requirement for safe, luxurious, and smart vehicles with integrated infotainment systems is also augmenting the global market. Apart from this, the growing product utilization in off-the-road (OTR) vehicles, on account of the increasing number of construction and mining activities, is expected to fuel the power electronics market over the forecasted period.
Breakup by Device:
- Power Discrete
- Power Modules
- Intelligent Power Module
- Power Integrated Module
- Power ICs
- Power Management Integrated Circuit
- Application-Specific Integrated Circuit
Breakup by Material:
- Silicon Carbide
- Gallium Nitride
Breakup by Application:
- Power Management
Breakup by Voltage:
- Low Voltage
- Medium Voltage
- High Voltage
Breakup by End User Industry:
- Military and Aerospace
- Energy and Power
- IT and Telecommunication
- Consumer Electronics
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- ABB Ltd
- Analog Devices Inc
- Fuji Electric Co. Ltd
- Infineon Technologies AG
- Microchip Technology Inc
- Mitsubishi Electric Corporation
- NXP Semiconductors N.V
- Renesas Electronics Corporation
- ROHM Co. Ltd
- Texas Instruments Incorporated
- Toshiba Corporation
- Vishay Intertechnology Inc
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/power-electronics-market
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800