Global Power Electronics Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Global Power Electronics Market Overview :

“The global Power Electronics Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global power electronics market report has been segmented on the basis of material, device, application, and region.

The application of solid state electronics for controlling flow of electrical energy via electronic circuits is called as power electronics. Power electronics infrastructure consists of a converter and controller. The transformation of energy is done by the converter, whereas the required voltage is adjusted by the controller as per the required end-use application.

Rising energy demand across the global, increasing demand for energy efficient products and technology, and increasing demand for portable battery powered devices are key factors driving growth of the global power electronics market. In addition, increasing adoption of power electronics from various sectors such as automotive, consumer electronics, aerospace & defense is another factor further driving growth of the global market. Moreover, increasing demand for renewable energy and power management infrastructure are other factors further propelling growth of the global market.

Complex integration and technical glitches are factors hampering growth of the global market to a certain extent. However, increasing deployment of smart cities, increasing adoption of power electronics in healthcare sector and electrical vehicles are other factors expected to create lucrative opportunities for major manufacturers in the global market over the forecast period.

Asia Pacific power electronics market dominates the global market with a share of XX.X% in the global power electronics market and is expected to maintain its dominance over the forecast period. Presence of major manufacturers and vendors and increasing adoption of power electronics from consumer goods industry are major factors driving growth of the Asia Pacific power electronics market.

The Europe power electronics market is expected to witness considerable growth over the forecast period, owing to increasing adoption from automotive sector. The North America power electronics market is expected to witness significant growth and is projected to register a CAGR of XX.X% over the forecast period. This growth can be attributed to rapid development in information and communication technology (ICT) sector.

Global Power Electronics Market Segmentation:

Segmentation on the basis of material:

• Silicon
• Sapphire
• Silicon Carbide
• Gallium Nitride
• Others

Segmentation on the basis of device:

• Discrete
• Module
• Integrated Circuit (IC)

 Segmentation on the basis of application:

• Information and Communications Technology (ICT)
• Consumer Electronics
• Power
• Industrial
• Automotive
• Aerospace & Defense
• Others

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa