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Power Electronics Market Predicted To Rake In US$ 37.3 Bn By 2030

The global power electronics market size is predicted to hit from US$ 23.6 billion in 2021 to US$ 37.3 billion by 2030 and is anticipated to grow at a CAGR of 5.2% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030.

The power electronics market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.

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The global power electronics market is primarily driven by the rising adoption of the power electronics across various end use verticals. The rapidly growing demand for the power efficient devices is boosting the demand for the power electronics across the globe. The rising government initiatives to deploy smart power grids and renewable energy sources is fueling the growth of the global power electronics market. Furthermore, the increased concerns over carbon emission has compelled the government to constitute regulatory frameworks to control vehicle emissions. This has significantly fostered the demand for the electric and hybrid vehicles in an attempt to promote low emission or emission free vehicles across the globe. Therefore, the rising adoption of the electric vehicles is boosting the demand for the power electronics as it is used in several automotive components.

Scope of the Power Electronics Market Report

Report Highlights Details
Market Size USD 37.3 Billion by 2030
Growth Rate CAGR of 5.2% From 2021 to 2030
Largest Market Asia Pacific
By Material
  • Sapphire
  • Silicon
  • Gallium Nitride
  • Silicon Carbide
  • Others
By Application
  • Consumer Electronics
  • Industrial
  • ICT
  • Aerospace & Defense
  • Automotive
  • Others

Competitive Intelligence

The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.

Some of the prominent players in the global power electronics market are listed as below:

  • ABB Group
  • Fuji Electric Co
  • Infineon Technologies AG
  • Microsemi Corporation
  • Mitsubishi
  • Renesas Electronics Corporation
  • Rockwell Automation
  • STMicroelectronics
  • Texas Instruments Incorporated
  • Toshiba Corporation

Market Dynamics

Driver

Rapidly growing demand for the electric vehicles

Rising awareness among the consumers regarding the deteriorating environmental conditions and rising government initiatives to control carbon emission is fostering the demand for the electric vehicles especially in the developed regions like Europe and North America. Automotive components such as windshield wiper control, interior lightings, ignition switch, and power steering are made using the power electronics. Therefore, the growing demand for the electric vehicles across the globe is expected to drive the growth of the global power electronics market.

Restraints

Ongoing shortages of semiconductors

The ongoing shortages of the semiconductors may hampering the power electronics market growth. The increasing gap between the demand and supply of the semiconductors may adverselyimpact the global power electronics market during the forecast period.

Opportunities

Various developmental strategies adopted by the market players

The market is fragmented with presence of several players in the market and various developmental strategies such as product launches, acquisitions, agreement, and partnerships highly influences the market growth. For instance,in March 2021, Infineon Technologies introduced StrongIRFET 2 power MOSFETs. It is available in the voltage range of 80 and 100V and is optimized for both the high and low frequencies.

Challenges

Complexity in designs and integration

The manufacturers of the power electronics are trying to integrate the power electronics into a single chip, which results in the complexity of designs. With the rising demand for the compact technologies, the complexities are increasing in designing and integrating the power electronics in the devices. This complexity in the designs may hamper the market growth.

Regional Snapshot

Asia Pacific was the most prominent power electronics market, garnering around 40% of the market share in 2020. Asia Pacific is characterized by the presence of numerous big players in the consumer electronics industry. The demand for the consumer electronics is high in the region owing to the rising disposable income and growing urban population. The power electronics is an essential part of the consumer electronic and hence the consumption of consumer electronics is high in this region.

Moreover, the favorable government policies to attract FDIs is resulting in rapid industrialization in the nation like China and India, which is estimated to offer lucrative growth opportunities to the market players in the forthcoming years. For this, the Asia Pacific region is also estimated to be the most opportunistic market during the forecast period. The rising government investments in the deployment of renewable energy sources and the development of advanced healthcare infrastructure is expected to spur the demand for the power electronics in the foreseeable future. Nations like India are planning to develop several Smart Cities, which will further fuel the consumption of power electronics.

Report Highlights

  • Based on the material, the silicon segment dominated the market in 2020. Silicon is the considered the most favorable substrate for making power electronics. Moreover, the increasing adoption of silicon in the production of the majority of the semiconductor wafers has boosted the growth of the power electronics market during the forecast period.
  • Based on the application, the automotive is estimated to be the most opportunistic segment during the forecast period. This can be attributed to the rising popularity of the electric vehicle among the global consumers. The growing demand for the emission free vehicle to protect environment from pollutions emitted from the vehicles is expected to drive the growth of this segment in the foreseeable future.
  • Based on the device, the discrete segment dominated the market in 2020, accounting for around 64% of the market share. The benefits like low power consumption and generation of lower noise in the industrial applications has boosted its adoption in the past. Moreover it is extensively used in the electric power grids and motors, which resulted in the dominance of this segment.

Market Segmentation

By Material

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

By Application

  • Consumer Electronics
  • Industrial
  • ICT
  • Aerospace & Defense
  • Automotive
  • Others

By Device

  • Module
  • Discrete
  • IC

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Why should you invest in this report?

If you are aiming to enter the global power electronics market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for power electronics are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Power Electronics Market 

5.1. COVID-19 Landscape: Power Electronics Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Power Electronics Market, By Material

8.1. Power Electronics Market, by Material Type, 2021-2030

8.1.1. Sapphire

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Silicon

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Gallium Nitride

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Silicon Carbide

8.1.4.1. Market Revenue and Forecast (2019-2030)

8.1.5. Others

8.1.5.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Power Electronics Market, By Application

9.1. Power Electronics Market, by Application, 2021-2030

9.1.1. Consumer Electronics

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Industrial

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. ICT

9.1.3.1. Market Revenue and Forecast (2019-2030)

9.1.4. Aerospace & Defense

9.1.4.1. Market Revenue and Forecast (2019-2030)

9.1.5. Automotive

9.1.5.1. Market Revenue and Forecast (2019-2030)

9.1.6. Others

9.1.6.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Power Electronics Market, By Device 

10.1. Power Electronics Market, by Device, 2021-2030

10.1.1. Module

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Discrete

10.1.2.1. Market Revenue and Forecast (2019-2030)

10.1.3. IC

10.1.3.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Power Electronics Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Material (2019-2030)

11.1.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.3. Market Revenue and Forecast, by Device (2019-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Material (2019-2030)

11.1.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.4.3. Market Revenue and Forecast, by Device (2019-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Material (2019-2030)

11.1.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.5.3. Market Revenue and Forecast, by Device (2019-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Material (2019-2030)

11.2.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.3. Market Revenue and Forecast, by Device (2019-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Material (2019-2030)

11.2.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.4.3. Market Revenue and Forecast, by Device (2019-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Material (2019-2030)

11.2.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.5.3. Market Revenue and Forecast, by Device (2019-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Material (2019-2030)

11.2.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.6.3. Market Revenue and Forecast, by Device (2019-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Material (2019-2030)

11.2.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.7.3. Market Revenue and Forecast, by Device (2019-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Material (2019-2030)

11.3.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.3. Market Revenue and Forecast, by Device (2019-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Material (2019-2030)

11.3.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.4.3. Market Revenue and Forecast, by Device (2019-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Material (2019-2030)

11.3.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.5.3. Market Revenue and Forecast, by Device (2019-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Material (2019-2030)

11.3.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.6.3. Market Revenue and Forecast, by Device (2019-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Material (2019-2030)

11.3.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.7.3. Market Revenue and Forecast, by Device (2019-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Material (2019-2030)

11.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.3. Market Revenue and Forecast, by Device (2019-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Material (2019-2030)

11.4.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.4.3. Market Revenue and Forecast, by Device (2019-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Material (2019-2030)

11.4.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.5.3. Market Revenue and Forecast, by Device (2019-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Material (2019-2030)

11.4.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.6.3. Market Revenue and Forecast, by Device (2019-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Material (2019-2030)

11.4.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.7.3. Market Revenue and Forecast, by Device (2019-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Material (2019-2030)

11.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.3. Market Revenue and Forecast, by Device (2019-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Material (2019-2030)

11.5.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.4.3. Market Revenue and Forecast, by Device (2019-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Material (2019-2030)

11.5.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.5.3. Market Revenue and Forecast, by Device (2019-2030)

Chapter 12. Company Profiles

12.1. ABB Group

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Fuji Electric Co

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Infineon Technologies AG

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Microsemi Corporation

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Mitsubishi

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Renesas Electronics Corporation

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Rockwell Automation

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. STMicroelectronics

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Texas Instruments Incorporated

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Toshiba Corporation

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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