Power Electronics Market Report 2022, Size, Share, Trends and Forecast 2027

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. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Power electronics represent a branch of electrical engineering that involves the study, analysis, and designing of solid-state circuits.  It relies on inductors, capacitors, and various other semiconductor switching devices, including metal-oxide-semiconductor field-effect transistors (MOSFET) and insulated-gate bipolar transistors (IGBT) for converting electricity and effectively regulating its flow. Power electronics assist in managing energy and promoting the conservation of power in consumer electronics, while offering reliability and ensuring minimal maintenance. Based on these properties, it is extensively employed in television (TV) sets, battery chargers, and personal computers (PCs).

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Power Electronics Trends and Drivers:

The power electronics market is primarily being driven by the widespread product adoption across the automotive sector for manufacturing various components of modern vehicles, including windshield wiper control, adaptive front lighting, electric power steering, and ignition switch. This is further supported by the increasing demand for smart and luxurious automobiles that are integrated with advanced infotainment systems. In line with this, rising environmental concerns, along with the inflating prices of conventional energy solutions have prompted governments of various countries to undertake initiatives promoting the uptake of electric vehicles (EVs) and plug-in hybrid vehicles (HVs), which is acting as another major growth-inducing factor.

Additionally, the extensive deployment of power electronics in light dimmers, air conditioners (ACs), induction cooking, uninterrupted power systems (UPS), and vacuum cleaners is contributing to the market growth. Moreover, the increasing utilization of power electronics in landing gears, defensive aid systems (DAS), navigation, avionics, and cabin lighting systems of military aircrafts, is propelling the market growth. Other factors, such as significant investments in research and development (R&D) activities, frequent mergers and acquisitions (M&A) amongst key players, and the escalating need for continuous supply power and advance control systems in satellites, space shuttles, missiles, and unmanned aerial vehicles (UAVs) are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 39.9 Billion by 2027, growing at a CAGR of 6.48% during 2022-2027. 

Report Segmentation:

The report has segmented the market into the following categories:

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

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=4594&flag=C

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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