Jersey City, New Jersey, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Power Electronics Market” By Device (Power Discrete, Power Modules), By Material (Silicon, Silicon Carbide, Gallium Nitride), By Vertical (ICT, Energy And Power, Industrial), and By Geography.
Power Electronics Market size was valued at USD 93.59 Billion in 2020 and is projected to reach USD 161.43 Billion by 2028, growing at a CAGR of 7.17% from 2021 to 2028, according to the most recent study from Verified Market Research.
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Browse in-depth TOC on “Power Electronics Market”
202 - Pages
126 – Tables
37 – Figures
Report Scope
Global Power Electronics Market Overview
Power electronics is a branch that includes the study, analysis, and designing of various circuits that are capable of converting electrical energy from one form to another. It uses different devices such as inductors, capacitors, semiconductor devices, and many more. It helps in power management to enhance energy conservation in various uses such as industrial systems, electric vehicles, and consumer electronics.
Power electronics are solid-state circuitry devices that are required to manipulate and control manner. Power electronics enable power management in order to improve energy conservation. The rise in the trend of adoption of power electronics in electric vehicles has contributed to the growth of the global Power Electronics Market. The advancement in power infrastructure and the shifted focus towards the use of renewable power sources along with increasing demand for energy-efficient battery-powered portable devices have been driving the global Power Electronics Market.
The increasing use of GaN & SiC products in various fields and growing industrialization in developing countries are anticipated to offer lucrative opportunities for the companies operating in the Power Electronics Market during the forecast period. There are certain restraints and challenges faced which will hinder the overall Power Electronics Market growth. Factors such as complexity in the design of the device, concerns regarding grid capacity, and the integration of advanced technological devices might hinder the overall growth at a global level.
Key Developments
- Dialog Semiconductor announced a partnership with another company called Flex Logix Technologies. This partnership is aimed to develop gate arrays with mixed signals.
- On March 2020, Infineon, a European semiconductor company, announced that it is set to acquire Cypress Semiconductor and the deal, while the deal is in the final stage.
- On April 2020, ON Semiconductor, announced the expansion of the portfolio for industrial motor drive applications. It has introduced NXH25C120L2C2, NXH35C120L2C2/2C2E, and NXH50C120L2C2E, which are 25, 35, and 50 Ampere versions of Transfer-Molded Power Integrated Modules (TM-PIM) for 1200 Volt (V) applications.
Key Players
The “Global Power Electronics Market” study report will provide valuable insight emphasizing the global market. The major players in the market are
- NXP Semiconductors
- Toshiba
- Renesas Electronics
- Texas Instruments
- Fuji Electric
- Infineon Technologies
- Vishay Intertechnology
- Mitsubishi Electric
- On Semiconductor
- STMicroelectronics.
Based on the research, Verified Market Research has segmented the global Power Electronics Market into Device, Material, Vertical, and Geography.
- Power Electronics Market, by Device
- Power Discrete
- Power Modules
- Power ICs
- Power Electronics Market, by Material
- Silicon
- Silicon Carbide
- Gallium Nitride
- Sapphire
- Others
- Power Electronics Market, by Vertical
- ICT
- Energy & Power
- Industrial
- Automotive
- Others
- Power Electronics Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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