Vancouver, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The global power electronics market size reached USD 37.40 Billion in 2021 and is expected to register a revenue CAGR of 4.1% during the forecast period, according to latest analysis by Emergen Research. Rising demand for Electric Vehicles (EVs) and rapid penetration of Fifth Generation (5G) are key factors driving market revenue growth. In addition, market companies are investing for assessing durability and quality of electronic devices, which also poses significant growth opportunities during the forecast period.
Power electronics materials, such as gallium nitride, silicon carbide, and others, are primarily in high demand due to their capability in achieving efficient power conversion. In the automotive industry, power electronics is application of solid-state electronics for conversion and control of electric power. This is an effective and efficient method of managing business communications and data. Moreover, power electronics are used to minimize power and energy loss in a vehicle.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1368
Rising demand for innovative consumer electronic devices is another key factor driving revenue growth of the market. Furthermore, market companies are focusing on improving product services and significantly investing in R&D activities, which is another key factor contributing to market revenue growth. However, these companies are offering a diverse portfolio of communications and power management semiconductors that are well-suited for a wide range of consumer products. These products are also used to communicate with other devices and networks, both locally and globally.
Scope of Research
| Report Details | Outcome |
| Market Size in 2021 | USD 37.40 Billion |
| CAGR (2022–2030) | 4.1% |
| Revenue Forecast to 2030 | USD 54.06 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2019–2020 |
| Forecast Period | 2022–2030 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2022 to 2030 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Device Type, material, application, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Infineon Technologies AG, Onsemi, STMicroelectronics, Mitsubishi Electric Corporation, Vishay Intertechnology, Inc., Fuji Electric Co., Ltd., NXP Semiconductors, Renesas Electronics Corporation, Texas Instruments Incorporated, and Toshiba Corporation |
| Customization Scope | 10 hours of free customization and expert consultation |
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1368
Major Companies and Competitive Landscape
The global power electronics market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective power electronics. Some major players included in the global power electronics market report are:
- Infineon Technologies AG
- Onsemi
- STMicroelectronics
- Mitsubishi Electric Corporation
- Vishay Intertechnology, Inc.
- Fuji Electric Co., Ltd.
- NXP Semiconductors
- Renesas Electronics Corporation
- Texas Instruments Incorporated
- Toshiba Corporation
Strategic Development
- On 7 June 2021, ON Semiconductor, which is a U.S.-based semiconductor manufacturing company announced the launch of a pair of 1200 V full silicon carbide MOSFET 2-PACK modules to address challenges of current electric vehicle market. In addition, new 1200 V M1 full silicon carbide MOSFET 2 pack modules are based on planar technology and are suitable for drive voltages ranging from 18 to 20 V. When compared to trench MOSFETs, larger die reduces thermal resistance, lowering die temperature at the same operating temperature. They are also intended to work with driver solutions such as NCD5700x devices.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/1368
Some Key Highlights From the Report
- The Power Integrated Circuit (IC) segment accounted for a significant revenue share in 2021. Miniaturization of electronic products and rising demand for reliable and low-power consumption electronic components are major factors driving revenue growth of this segment. In addition, increasing end-user’s awareness regarding various benefits of implementing power IC is contributing to revenue growth. Power IC addresses a few electronic applications that were previously beyond capabilities of traditional IC technologies. Moreover, market companies are also deploying developed technologies and high-voltage device concepts to maximize benefits of power IC. Furthermore, new power conversion system concepts are being investigated to provide flexibility and advantages in integrated solutions. This is another significant factor driving revenue growth of this segment.
- The Gallium Nitride (GaN) segment accounted for a significant revenue share in 2021. Strategic partnerships and funding from government bodies are key factors driving revenue growth of this segment. In addition, rising demand for robotic process automation systems is contributing to market growth. Gallium nitride is used in servo drives for robotics and motion control. Moreover, increasing need for automation in the manufacturing process, as well as technological advancements, are among other major factors driving revenue growth of this segment.
- The power management segment accounted for a significant revenue share in 2021. Rising demand for efficient management and delivery of electricity is a key factor driving market revenue growth of this segment. In addition, increasing automotive startups is significantly contributing to revenue growth of this segment. Power devices will boost efficiency and system performance in automotive, energy-saving, and all high-voltage industrial applications. In addition, power devices that are robust, efficient, and cost-effective at high power densities play a critical role in ensuring that global economies can effectively reduce Carbon Dioxide (CO2) emissions even as energy consumption rises.
- The Europe market accounted for largest revenue share in 2021. Significant investments in renewable energy sources is a key factor driving market revenue growth in this region. In addition, The European Commission has committed to achieving 20% and 27% of total energy consumption from renewable sources by 2030. The Germany market accounted for largest revenue share due to presence of major automotive companies such as Volkswagen, BMW, and others. Moreover, these companies are significantly investing in power devices that provide efficient power transmission and storage in all their vehicle segments.
- On 24 August 2021, STMicroelectronics, which is a Switzerland-based leading manufacturer of semiconductor products for automotive, consumer electronics, and other industries announced the introduction of MasterGaN3 and MasterGaN5 integrated power packages for applications up to 45W and 150W respectively. MasterGaN concept from STMicroelectronics also simplifies transition from standard silicon Metal-Oxide-Semiconductor Field-Effect Transistors (MOSFETs) to GaN wide-bandgap power technology. These devices combine two 650V power transistors with optimized high-voltage gate drivers and associated safety and protection circuitry, obviating need for gate driver and circuit-layout design challenges. In addition, when combined with GaN transistors' higher switching frequencies, these integrated devices enable power supplies that are up to 80% smaller than silicon-based designs, while also being extremely robust and reliable.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/power-electronics-market
Emergen Research has segmented the global power electronics market based on device type, material, application, and region:
- Device Type Outlook (Revenue, USD Billion; 2019-2030)
- Power Discrete
- Power Module
- Power IC
- Material Outlook (Revenue, USD Billion; 2019-2030)
- Silicon
- Silicon Carbide (SiC)
- Gallium Nitride
- Others
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Power Management
- Drives
- Rail Traction
- Transportation
- Renewables
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
Curated Reports You Shouldn't Miss: Dive In Now!
Solar LED Street Lighting Market By Product (Grid Connected, Standalone), By Component (Solar Cell, Light Pole, LED Lamps), By End-Use (Residential, Industrial, Commercial), By Region Forecasts to 2027
Human Centric Lighting Market By Type (Software, Hardware), By Installation (Retrofit, New), By End-Use (Residential, Industrial, Retail, Healthcare, Education, Commercial), By Region Forecasts to 2027
Airborne LiDAR Market By Type (Bathymetric, Topographic), By Platform (UAVs, Fixed Wing Aircraft, Rotary Wing Aircraft), By Component (Cameras, Lasers, Micro-electromechanical Systems, Inertial Navigation Systems, GPS/GNSS), By Application, By End-Use, By Region Forecasts to 2027
Medical Lighting Technologies Market By Product Type, By Application (Intensive care units (ICU), Operating room/surgical suites, Examination rooms, Others), By Technology (Incandescent and Halogen, Light-Emitting Diode (LED), Fluorescent lighting technologies, and Others), By Region Forecasts to 2027
LED Emergency Lighting Market By Technology (Surface Mount, Chips on Board), By Power Source (Rechargeable, Solar, Battery), By End-Use (Cinema, Commercial, School, Residential, Others), By Region Forecasts to 2027
Desktop 3D Printer Market By Material, By Technology, By Industry Vertical, Forecasts to 2027
Agriculture Drones Market, By Type (Fixed Wing, Rotary Wing, and Hybrid), By Component (Hardware and Software), By Application, and By Region Forecast to 2032
Smart Irrigation Controllers Market By Type (Weather-based controllers and soil-based controllers), By End Users (Agriculture Industry and Non-Agriculture Industry), Forecasts to 2027
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Japanese Version: Power Electronics Market
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-power-electronics-market
