Worldwide Power Electronics Industry to 2026 - Growing Popularity of Renewable Sources of Energy is Driving Growth

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Jul 02, 2021, 07:15 ET

DUBLIN, July 2, 2021 /PRNewswire/ -- The "Global Power Electronics Market, By Device Type (Power Discrete, Power Module and Power IC), By Material (Silicon, Silicon Carbide, Gallium Nitride and Others), By Voltage, By Application, By Region, Competition Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.

The Global Power Electronics Market was valued at USD38.18 billion in 2020 and is expected to grow at CAGR of 5.6% during the forecast period. The Global Power Electronics Market is driven by growing trend for Electric Vehicles (EVs) and Hybrid Vehicles (HVs). Additionally, the growing popularity of renewable sources of energy among developing and emerging economies is expected to increase the demand for power discrete and power modules. Furthermore, the emergence of smart grid that serves the purpose of efficient and reliable electricity supply, integration of more renewable energy into an existing network and supporting the development of electric vehicles at a scale is expected to further bolster the market growth over the next few years.

The Global Power Electronics Market is segmented based on device type, material, voltage, application and region. Based on device type, the market can be split into Power Discrete, Power Module and Power IC. The power discrete devices hold the largest market share due to their low cost, but power modules are expected to show growth in the market because of their application in industrial or renewable energy converters and in electric and hybrid electric vehicles.

Based on material, the Global Power Electronics Market is segmented into Silicon, Silicon Carbide, Gallium Nitride and Others. Silicon has the largest share due to its good semiconductor properties and early adaptivity. However, companies are continuously investing in research & development to find materials like SiC, GaN, etc. with better chemical properties.

In terms of voltage, the market is divided into Low Voltage, Medium Voltage & High Voltage. Medium voltage power electronic devices used in consumer electronics dominated the market till now, but the future is of the high voltage power electronic devices which find use in smart grids & renewable energy source supply.

Based on application, the market is segmented into ICT, Consumer Electronics, Industrial, Automotive, Aerospace & Defense and Others. The automotive sector led the power electronics market followed by the aerospace & defense and industrial sectors.

Considering the regional landscape, the market has been segmented into including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, Asia-Pacific is expected to dominate the market on account of the expanding economies such as China, India etc. and their commitments to reduced carbon emissions setting up solar power plants and wind turbines. The governments are also encouraging the use of electric vehicles by introducing various incentives.

The major players operating in the Global Power Electronics Market are Infineon Technologies AG, ON Semiconductor Corporation, STMicroelectronics N.V., Mitsubishi Electric Corporation, Toshiba Corporation, Texas Instruments Inc., Fuji Electric Co., Ltd.,
Renesas Electronics Corporation, Vishay Intertechnology, Inc., NXP Semiconductors N.V, etc. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.

Years considered for this report:

Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026

Objective of the Study:

To analyze the historical growth in the market size of the Global Power Electronics Market from 2016 to 2020.
To estimate and forecast the market size of the Global Power Electronics Market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the Global Power Electronics Market based on Device type, material, voltage, application, company, and regional distribution.
To identify drivers and challenges for the Global Power Electronics Market.
To examine competitive developments such as expansions, new device launches, mergers & acquisitions, etc., in the Global Power Electronics Market.
To identify and analyze the profile of leading players operating in the Global Power Electronics Market.

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Global Power Electronics Market

4. Executive Summary

5. Voice of Customer
5.1. Preference of Manufacturing Mode of Power Electronics Circuits
5.2. Preference of Power Device Type
5.3. Factors Considered for Designing of Power Electronic Circuits

6. Global Power Electronics Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Device Type (Power Discrete, Power Module and Power IC)
6.2.2. By Material (Silicon, Silicon Carbide, Gallium Nitride and Others)
6.2.3. By Voltage (Low Voltage, Medium Voltage, High Voltage)
6.2.4. By Application (ICT, Consumer Electronics, Industrial, Automotive, Aerospace & Defense and Others)
6.2.5. By Region (APAC, Europe, North America, South America and Middle East & Africa)
6.2.6. By Company, 2020
6.3. Product Market Map

7. North America Power Electronics Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Device Type
7.2.2. By Material
7.2.3. By Voltage
7.2.4. By Application
7.2.5. By Country
7.3. North America: Country Analysis
7.3.1. United States Power Electronics Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Device Type
7.3.1.2.2. By Material
7.3.1.2.3. By Voltage
7.3.1.2.4. By Application
7.3.2. Canada Power Electronics Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Device Type
7.3.2.2.2. By Material
7.3.2.2.3. By Voltage
7.3.2.2.4. By Application
7.3.3. Mexico Power Electronics Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Device Type
7.3.3.2.2. By Material
7.3.3.2.3. By Voltage
7.3.3.2.4. By Application

8. Europe Power Electronics Market Outlook

9. Asia-Pacific Power Electronics Market Outlook

10. South America Power Electronics Market Outlook

11. Middle East and Africa Power Electronics Market Outlook

12. Market Dynamics
12.1. Drivers
12.2. Challenges

13. Market Trends & Developments

14. Competitive Landscape
14.1. Infineon Technologies AG
14.2. ON Semiconductor Corporation
14.3. STMicroelectronics N.V.
14.4. Mitsubishi Electric Corporation
14.5. Toshiba Corporation
14.6. Texas Instruments Inc.
14.7. Fuji Electric Co., Ltd.
14.8. Renesas Electronics Corporation
14.9. Vishay Intertechnology, Inc.
14.10. NXP Semiconductors N.V

15. Strategic Recommendations

16. About the Publisher & Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/y69ymb

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