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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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Power electronics involves the study, analysis, and design of circuits that convert electrical energy from one form to another. It is widely utilized in consumer electronics, such as television (TV) sets, personal computers (PCs), and battery chargers. Nowadays, several manufacturers are introducing modern power electronics wherein electric power is converted using semiconductor switching devices. Some of these switching devices include diodes, thyristors, and power metal-oxide-semiconductor field-effect transistor (MOSFET) and insulated-gate bipolar transistor (IGBT).
The increasing reliance on consumer electronics on account of rapid urbanization and rising disposable incomes represents one of the key factors positively influencing the application of power electronics in fan regulators, light dimmers, air conditioners, induction cooking, emergency lights, vacuum cleaners, and uninterrupted power systems (UPS). In addition, the rising adoption of electronic devices, such as pumps, blowers, elevators, rotary kilns, arc furnaces, and compressors, in textile mills and other manufacturing units is fueling the market growth. Apart from this, it is employed in the automotive industry to enable electric power steering, interior lighting, braking system, seat control, and central body control in vehicles. This, in confluence with the escalating demand for safe, luxurious, and smart vehicles with integrated infotainment systems, is contributing to market growth. Furthermore, the growing construction and mining activities are driving the usage of power electronics in off-the-road (OTR) vehicles. It is also gaining traction in the defense, aeronautics, and spacecraft industries worldwide to supply power and advance control in aircraft, satellites, missiles, space shuttles, and unmanned aerial vehicles (UAVs). Moreover, the surging need for renewable energy sources on account of inflating prices of conventional energy sources and rising environmental concerns is expanding the applications of power electronics in solar and wind panels.
IMARC Group provides an analysis of the key trends in each sub-segment of the global power electronics market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on device, material, application, voltage and end use industry.
Breakup by Device:
Breakup by Material:
Breakup by Application:
Breakup by Voltage:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Vishay Intertechnology Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Device, Material, Application, Voltage, End Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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 and Vishay Intertechnology Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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