According to the latest report by IMARC Group, titled “Power Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the Power Electronics Market to grow at a CAGR of XX% during 2021-2026.Power electronics involves studying, analyzing, and designing circuits that convert electrical energy from one form to another. It is extensively utilized in consumer electronics, such as television (TV) sets, personal computers (PCs), battery chargers, etc. Presently, numerous manufacturers are introducing modern power electronics, wherein electric power is converted using semiconductor switching devices. These devices include thyristors, diodes, power metal-oxide-semiconductor field-effect transistor (MOSFET), insulated-gate bipolar transistor (IGBT), etc.
Power Electronics Market Trends:
The growing dependence on consumer electronics, owing to the elevating levels of urbanization and disposable incomes, is primarily driving the power electronics market. In line with this, the rising popularity of electronic devices, including fan regulators, air conditioners, induction cooking, vacuum cleaners, uninterrupted power systems (UPS), etc., is propelling the product demand. Moreover, the escalating adoption of various electronic devices, such as pumps, blowers, rotary kilns, arc furnaces, elevators, compressors, etc., in several manufacturing units, including textile mills, is further bolstering the market growth. Besides this, power electronics is gaining traction in the automotive industry for enabling electric power steering, interior lighting, seat control, braking system, central body control, etc., in vehicles., which is acting as another significant growth-inducing factor. Furthermore, the inflating requirement for safe, luxurious, and smart vehicles with integrated infotainment systems is also augmenting the global market.
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Power Electronics Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
ABB Ltd., Analog Devices Inc., Fuji Electric Co. Ltd., Infineon Technologies AG, Microchip Technology Inc., Mitsubishi Electric Corporation, NXP Semiconductors N.V., Renesas Electronics Corporation, ROHM Co. Ltd., STMicroelectronics, Texas Instruments Incorporated, Toshiba Corporation and Vishay Intertechnology Inc.
Breakup by Device:
Power Discrete
Diode
Transistors
Thyristor
Power Modules
Intelligent Power Module
Power Integrated Module
Power ICs
Power Management Integrated Circuit
Application-Specific Integrated Circuit
Breakup by Material:
Silicon
Sapphire
Silicon Carbide
Gallium Nitride
Others
Breakup by Application:
Power Management
UPS
Renewable
Others
Breakup by Voltage:
Low Voltage
Medium Voltage
High Voltage
Breakup by End User Industry:
Automotive
Military and Aerospace
Energy and Power
IT and Telecommunication
Consumer Electronics
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
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