Power Electronics Market Size, Share, Comprehensive Analysis, Future Prospects, Types, Applications, Status and Forecast to 2023

“Power Electronics Market”
Power Electronics Market Information, by Application (Consumer Electronics, Industrial, Automotive, Healthcare), by Component (Silicon Controlled Rectifier (SCR), Diode, MOSFET, AC/DC Converter, Static Switches) – Forecast 2023

Power Electronics Industry 2018 Global Market research report provide detailed analysis of growth factors of the Power Electronics industry as well as it gives analysis of market share, trends, size, Business Methodologies, Financial Overview, Growth Prospects and forecast till 2023. The Power Electronics industry report has studied key Strategies in the market i.e Emerging and Manipulating factor which is useful to the Sales revenue and business Generation.

Some of the prominent players in the global power electronics market are Infineon Technologies AG (Germany), Texas Instruments, Inc. (U.S.), ON Semiconductor Corp. (U.S.), STMicroelectronics N.V. (Switzerland), Maxim Integrated Products, Inc. (U.S.), Fuji Electric Co., Ltd. (Japan), NXP Semiconductors N.V. (The Netherland), Qualcomm, Inc. (U.S), Vishay Intertechnology, Inc. (U.S.), Renesas Electronics Corp. (Japan), and Mitsubishi Electric Corp. (Japan) among others.

The global power electronics market is expected to grow at a CAGR of approximately 3% during the forecast period 2017-2023.

At present, the world needs to cut down on its natural fuel resource consumption. And due to this fact, it is being asserted that the global market for power electronics will grow by leaps and bounds in the forthcoming years. This market is estimated to tread forward at the CAGR of around 3% and it is anticipated to generate revenue of around USD 43 billion.

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Latest Industry News

•              The US Department of Energy (DOE) recently announced nine winners of up to US $20 mn in total funding set aside for projects looking to advance early-stage solar power electronics technologies.

•              Mitsubishi Electric Corp. has announced its plans to invest more than ¥30 billion in order to increase the output of its factory automation system products. They are considering plans to build a new plant close to their existing facility in Owariasashi, Aichi Prefecture. They are also planning to rebuild an existing plant in Nagoya in order to strengthen production capacity.

Regional Analysis:

The global power electronics market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that Asia Pacific is estimated to account for the largest share of the market during the forecast period. The growth of the market in Asia Pacific is attributed to technological advancements and increased focus towards the use of renewable power sources across various industry verticals.

Segmentation

The worldwide market of power electronics has been segmented into three distinct portions. All of the three and sub-divisions are listed as below:

By verticals – Consumer electronics, aerospace & defense, IT & telecommunication, automotive and power. The automotive sub-segment is anticipated to govern the market during the projection span. Higher acceptance and usage of energy efficient hybrid electronic cars are a major reason for its lead.

By materials – Gallium nitride, silicon, sapphire and silicon carbide. Silicon grabbed the maximum number of shares back in 2015 and its dominance is expected to continue during this forecast period as well. The versatility of silicon gives it an edge over the others.

By device type – Power module, power discrete and power IC. The power IC segment is estimated to be the fastest growing the in device type division. The main reason for this is the increased usage of power IC for a number of purposes.

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