Global power electronics market is expected to rise at a positive CAGR in the forecast period. Power electronics is the use of solid-state electronics to the control and conversion of electric power from the source to the load in an efficient and appropriate mode. The factors propelling the growth of power electronics market includes growing demand for energy-efficient battery-powered portable devices, increasing trend of energy harvesting technologies, improvement of power infrastructure, and the rising emphasis on using renewable power sources.
In addition, increase in adoption of electronic cars is significantly fueling the growth of the market size. Also, sectors such as ICT, defence, telecommunications, etc. are driving the growth of the market size. On the other hand, factors that hamper the growth of the market size such as manufacturing cost of power electronics is expensive and time consuming.
Power Electronics market size is bifurcated on the basis of material, device type, vertical and geography. Based on material, the market is classified as Silicon (Si), Silicon Carbide (SiC), Gallium Nitride (GaN), Sapphire and others. Among the materials, Silicon segment is projected to account a major share in the Power Electronics market size owing to the applicability of silicon in several power electronics devices and products. On the basis of device type, the market is classified as discrete, module and IC.
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The discrete segment is further sub classified as diode, transistor, and thyristor. The module segment is further sub classified as Intelligent Power Module (IPM) and Power Integrated Module (PIM). IC segment is further sub classified as Power Management Integrated Circuits (PMIC) and Application-Specific Integrated Circuits (ASIC).
Among the device type, IC segment is estimated to account a large share of the Power Electronics market size. The key factors that fuel the growth of this segment areits rising application in RADAR, satellite communication, microwave radiation, high frequency wireless communication, etc. On the basis of vertical, the global Power Electronics market research report is classified as ICT, Consumer Electronics, Power, Industrial, Automotive and Aerospace &Defense. The ICT segment is further sub classified as Switching Systems, Wireless, Satellite Communication, Radar, Radio Frequency (RF) and others. The other segment includes Signal Amplifiers, Wired Communication, and Photovoltaic.
The Consumer Electronics segment is further sub classified as Inverters, Light emitting diode (LED), Switched-Mode Power Supply (SMPS) and others. The other segment includes Office Equipment, Computers, Televisions, Lightning Devices, Radio-Frequency Identification (RFID) Solutions, and Electronic Surveillance Systems, among others.
The Power segment is further sub classified as Uninterruptible Power Supply (UPS), Converter and others. The other segment includes High-Voltage Direct Current (HVDC) and Flexible AC Transmission Systems (FACTS). The Industrial segment is further sub classified as Point-to-Load (POL) conversion, Power Management, Renewable Energy System, Heating, Ventilating, and Air-Conditioning (HVAC), Rail Traction, Motor Drive, Smart Grid and others. The other segment includes High-Voltage DC (HVDC).
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The Automotive segment is further sub classified as Vehicular Power Converter Systems, Electric Vehicle Charging and others. The other segment includes Driver Information Systems, Body Electronics, Powertrain Control, Safety and Chassis applications. The Aerospace &Defense segment is further sub classified as Microwave Radiation, Combat Vehicle and others. The other segment includes Unmanned Aerial Vehicle (UAV), Unmanned Underwater Vehicle (UUV), and Unmanned Ground Vehicle (UGV). Among the vertical, automotive segment is projected to account a major share in the Power Electronics market research report.
On the basis of geography, the market research report is classified as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The North American region consists of the U.S. and Canada. Latin America consists of Mexico, Brazil, Argentina, among others. The European region consists of France, England, Germany and Rest of Europe (including Italy, Sweden, Switzerland, Italy, Finland, the Netherlands, Belgium, and Turkey among others). Asia Pacific region consist of China, India, Japan, South Korea and Rest of APAC (Indonesia, Taiwan, Singapore, Australia, Thailand, and Malaysia among others).
In case of geographical region, Asia Pacific is expected to record a large share in global market. Some of the prominent players in the market research report include Infineon Technologies AG, Texas Instruments, Inc., ON Semiconductor Corp., STMicroelectronics N.V., Maxim Integrated Products, Inc., Fuji Electric Co., Ltd., NXP Semiconductors N.V., Qualcomm, Inc., Vishay Intertechnology, Inc., Renesas Electronics Corp., and Mitsubishi Electric Corp.
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