Global Power Electronics Market Forecast to 2023: Upgrade of Power Infrastructure and Focus Toward the Use of Renewable Power Sources Driving Growth
DUBLIN, Dec 18, 2018 /PRNewswire/ --
The "Power Electronics Market by Material, Device Type (Discrete, Module, and IC), Application, Vertical (ICT, Consumer Electronics, Energy and Power, Industrial, Automotive, and Aerospace & Defense), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The power electronics market is expected to grow from USD 39.03 Billion in 2018 to USD 51.01 Billion by 2023, growing at a CAGR of 5.5% between 2018 and 2023.
The growth of this market can be attributed to the upgrade of power infrastructure and growing demand for energy-efficient battery-power portable devices. In developing regions, existing power supply resources are being increasingly utilized because of the growing power consumption.
The demand for the enhancement of power infrastructure and concerns regarding the use of renewable power supplies are increasing globally. Governments across the globe are increasingly investing in renewable energy sources, such as solar and wind, and are constantly working toward formulating better feed-in-tariff policies to provide photovoltaic projects with the convenience of grid connections.
The power electronics market has been segmented on the basis of device type into discrete, modules, and ICs. The power ICs led the power electronics market in 2017. Power ICs including PMICs and ASICs are primarily used in high-frequency range, high power amplification, and microwave radiation applications.
On the basis of application, the power electronics market has been segmented into power management, drive, UPS, rail traction, transportation, renewable, and others. The power electronics market for the transportation application is expected to grow at the highest CAGR between 2018 and 2023 owing to increasing production of HEVs and EVs and rising demand for electric vehicle charging stations across the globe.
The power electronics market is segmented on the basis of vertical into ICT, consumer electronics, energy and power, industrial, automotive, aerospace and defense, and others. The automotive vertical is expected to grow at the highest CAGR during the forecast period owing to the increasing focus on hybrid electric vehicles (HEVs) and EVs and increasing demand for cars and other passenger vehicles across the globe.
Power Electronics Market
APAC led the overall power electronics market and accounted for the largest market share, followed by Europe. The power electronics market in APAC is expected to grow rapidly during the forecast period. The key drivers for the growth of this market in APAC include growing demand for power electronic devices in automotive and consumer applications and the presence of many manufacturing units in APAC. Moreover, the growing demand of industrial and energy & power verticals for power electronic devices helps the market to grow further in the region.
Complex design and integration process for advanced technological devices is restraining the growth of the power electronics market. The power electronics industry is focusing more on the integration of multiple functionalities into a single chip, which results in complex designing. Designing and integration of complex devices require special skillsets, robust methodology, and toolset for integration, which increase the cost of the devices; thus, high cost restrains users to switch to advanced technological devices.; hence, complex design and integration process for advanced technological devices is considered a restraining factor for the growth of the power electronics market.
Key Topics Covered:
1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Overall Power Electronics Market
4.2 Power Electronics Market, By Device Type
4.3 Power Electronics Market, By Application and Country
4.4 Power Electronics Market, By Application
4.5 Power Electronics Market, By Vertical
4.6 Power Electronics Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Upgrade of Power Infrastructure and Focus Toward the Use of Renewable Power Sources
5.2.1.2 Growing Demand for Energy-Efficient Battery-Powered Portable Devices
5.2.2 Restraints
5.2.2.1 Complex Design and Integration Process for Advanced Technological Devices
5.2.3 Opportunities
5.2.3.1 Growing Demand for HEVs and EVs
5.2.3.2 Growing Industrialization in Developing Economies
5.2.4 Challenges
5.2.4.1 Manufacturers Struggling to Cope With Frequently Changing Demand for More Compact and Efficient Devices at Low Prices
6 Power Electronics Market, By Material
6.1 Introduction
6.2 Silicon (Si)
6.3 Silicon Carbide (SiC)
6.4 Gallium Nitride (GaN)
6.5 Others
7 Power Electronics Market, By Device Type
7.1 Introduction
7.2 Power Discrete
7.2.1 Diode
7.2.1.1 Pin Diode
7.2.1.2 Zener Diode
7.2.1.3 Schottky Diode
7.2.2 Transistor
7.2.2.1 Bipolar Junction Transistor (BJT)
7.2.2.2 Insulated Gate Bipolar Transistor (IGBT)
7.2.2.3 Field Effect Transistor (FET)
7.2.3 Thyristor
7.3 Power Module
7.3.1 Intelligent Power Module (IPM)
7.3.2 Power Integrated Module (PIM)
7.3.2.1 Mosfet Module
7.3.2.2 IGBT Module
7.4 Power IC
7.4.1 Power Management IC
7.4.2 Application-Specific IC
8 Power Electronics Market, By Application
8.1 Introduction
8.2 Power Management
8.3 Drives
8.4 UPS
8.5 Rail Traction
8.6 Transportation
8.7 Renewable
8.8 Others
9 Power Electronics Market, By Vertical
9.1 Introduction
9.2 ICT
9.3 Consumer Electronics
9.4 Energy and Power
9.5 Industrial
9.6 Automotive
9.7 Aerospace and Defense
9.8 Others
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Rest of Europe
10.4 APAC
10.4.1 China
10.4.2 Japan
10.4.3 South Korea
10.4.4 Rest of APAC
10.5 Rest of the World (RoW)
11 Competitive Landscape
11.1 Introduction
11.2 Ranking Analysis of Players in the Power Electronics Market
11.3 Competitive Situations and Trends
11.3.1 Product Launches
11.3.2 Agreements, Partnerships, Contracts, and Collaborations
11.3.3 Mergers & Acquisitions
11.3.4 Expansions
12 Company Profiles
12.1 Key Players
12.1.1 Infineon Technologies
12.1.2 Texas Instruments
12.1.3 On Semiconductor
12.1.4 STMicroelectronics
12.1.5 Mitsubishi Electric
12.1.6 Fuji Electric
12.1.7 Renesas Electronics
12.1.8 Toshiba
12.1.9 NXP Semiconductors
12.1.10 Vishay Intertechnology
12.2 Other Key Players
12.2.1 Maxim Integrated Products
12.2.2 Semikron
12.2.3 ABB
12.2.4 Hitachi
12.2.5 Analog Devices
12.2.6 ROHM Semiconductor
12.2.7 Microsemi Corporation
12.2.8 Littelfuse
12.2.9 Microchip Technology
12.2.10 Danfoss
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