April 15, 2024

Power Electronics Market size was valued at US$ 45.79 Bn in 2022 and is expected to reach US$ 66.62 Bn by 2029 to exhibit a CAGR of 5.5 % during the forecast period.

Power Electronics Market Overview:

This Power Electronics market study looks at current and emerging industry trends and dynamics in the global Power Electronics market. Power Electronics Extensive market forecasting for the major market segments is carried out between 2022 and 2029. Extensive Power Electronics market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Power Electronics market, key players are profiled and their strategies are thoroughly evaluated.

Market Scope:

The analysis contains a current examination of the present Power Electronics market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Power Electronics market environment. Increased demand for Power Electronics is driving the market. The Power Electronics market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape

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applications for radiation. Currently, numerous high-power and high-frequency applications like RF, high-frequency wireless communication, RADAR, satellite communication, electronic warfare, radio communication, and microwave radiation arenas are driving the market for power ICs in the industrial, ICT, and aerospace & defence verticals. The market is expanding as a result of the rising demand for ASICs and PMICs, which are used to reduce power consumption.Because power electronics are essential to the automotive sector and help to optimise the use of electrical energy, the automotive industry is anticipated to hold the biggest market share over the projection period. Hybrid electric car and high-end auto markets are expanding as awareness of environmental pollution and sustainable development grows. To increase a vehicle’s fuel efficiency, power electronic modules, such as MOSFETs and IGBTs, are employed as a power electronic switch.

by Material
Silicon Carbide
Gallium Nitride

by Device Type
Power Discrete
Power Modules
Power ICs

by Application
Power Management
Rail Traction

by Vertical
Consumer Electronics
Energy & Power
Aerospace & Defense

Key Players:

The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market’s major influencing factors, as well as complete company profiles of

1. Infineon Technologies
2. Texas Instruments
3. On Semiconductor
4. STMicroelectronics
5. Mitsubishi Electric
6. Fuji Electric
7. Renesas Electronics
8. Toshiba
9. NXP Semiconductors
10. Vishay Intertechnology
11. Maxim Integrated Products
12. Semikron
13. ABB
14. Hitachi
15. Analog Devices
16. ROHM Semiconductor
17. GaN Systems
18. Littelfuse
19. Microchip
20. Transphorm
21. UnitedSiC
22. Wolfspeed, A Cree Company

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Regional Analysis:

Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Power Electronics market study. Data points such as downstream and upstream value chain analysis, technology trends, porter’s five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.

COVID-19 Impact Analysis on Power Electronics Market:

The COVID-19 epidemic has had a significant impact on the global Power Electronics industry. Power Electronics Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Power Electronics market to decelerate in 2022. The negative impact of COVID-19 on the Power Electronics market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2022, owing to increased demand for Power Electronics.

Key Questions Answered in the Power Electronics Market Report are:

  • Which segment was responsible for the largest share in the Power Electronics market?
  • How was the competitive scenario of the Power Electronics market in 2022?
  • Which are the key factors responsible for the Power Electronics market growth?
  • Which region held the maximum share in the Power Electronics market in 2022?

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