Power Electronics Market 2022-27: Scope, Trends, Share, Demand And Outlook

According to the latest report by IMARC Group, titled “Power Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global power electronics market report.

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.

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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.

Market Trends:

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

Diode

Transistors

Thyristor

Power Modules

Intelligent Power Module

Power Integrated Module

Power ICs

Power Management Integrated Circuit

Application-Specific Integrated Circuit

Breakup by Material:

Silicon

Sapphire

Silicon Carbide

Gallium Nitride

Others

Breakup by Application:

Power Management

UPS

Renewable

Others

Breakup by Voltage:

Low Voltage

Medium Voltage

High Voltage

Breakup by End User Industry:

Automotive

Military and Aerospace

Energy and Power

IT and Telecommunication

Consumer Electronics

Others

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

STMicroelectronics

Texas Instruments Incorporated

Toshiba Corporation

Vishay Intertechnology Inc

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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.

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