Global Power Electronics Market Research Report—Forecast till 2026
Global Power Electronics Market is anticipated to register a CAGR of 6.64% to surpass USD 59.40 Billion during the forecast period. Power electronics deals with the administration, conditioning, and adaption of electric power using semiconductor switches like FETs, SiC, GaN operating in cut-off and saturation modes and passive electronic components such as inductors and capacitors for filtering. The applications of power electronic devices are increasing across a wide range of verticals, especially in the automobile industry. Furthermore, the evolution of electric vehicles and hybrid electric vehicles propels the market for power electronic devices in the automotive sector.
The global power electronics market is expected to exhibit a substantial market expansion owing to the increasing trend of renewable energy resources and portable energy systems. Additionally, power electronics devices are applied in electric and hybrid vehicles to optimize overall system cost, increase power savings, extend mileage, mitigate power losses, increase power density, and improve battery performance. However, the growth of global Power electronics market growth is expected to hamper the market due to complex integration and technological glitches.
Global Power Electronics Industry has been classified into Component, Wafer Type, Wafer Material, Wafer Size, and Application.
Based on the component segment, the global power electronics market has been categorized into Diodes, Thyristor (Silicon Controlled Rectifier (SCR), Gate Turn-Off Transistor (GTO), MCT (MOS-Controlled Thyristor), MOSFET, AC/DC Converter, Static Switches, and Others. In terms of wafer type, the market has been segmented into Silicon, Gallium Nitride (GaN), SiC, and Others.
The wafer material segment divides the global power electronics market into P-Type and N-Type. Based on wafer size, the global power electronics market has been divided into 300mm, 150mm, 200mm, and 450mm and Above. Based on application type, the global market has been divided into Consumer Electronics, Transportation, Automotive, IT & Telecommunications, Aerospace & Defense, Industrial, Energy & Utilities, and Others.
Geographically, the Global Power Electronics Market has been studied across North America, Europe, Asia Pacific, and the Rest of the World.
Asia Pacific is likely to drive the largest market of the global market owing to the largest market share of 38.0% in 2018, with a market size of USD 14.6 billion. The regional market is anticipated to register the highest CAGR of 7.8% during the review period owing to the fastest growth of consumer electronics products that drive the power IC market. The regional market growth is driven by the growing adoption of electric vehicles and the emerging markets in the developing countries.
The Prominent players of the global power electronics are focusing on strategic developments, including mergers, acquisitions, new product releases, and business expansion, to gain a competitive advantage in the global market. The major market players of the global Power Electronics market include Alpha & Omega Semiconductor (AOS) Europe, Diodes Incorporated, AMS AG, Analog Devices Inc, Dialog Semiconductor, Semiconductor Component Industries LLC, Infineon Technologies AG, Maxim Integrated, Renesas Electronics Corporation, Microchip Technology Inc., STMicroelectronics, Texas Instruments, Toshiba Electronic Devices & Storage Corporation, and Vishay Intertechnology Inc.
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