How Global Power Electronics Market Players Should Strategize For 2022-2031
11 Aug, 2022
The global power electronics market size is expected to grow from $39.69 billion in 2021 to $43.71 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The global power electronics market is expected to reach $58.10 billion in 2026 at a CAGR of 7.4%.
What is the Global Power Electronics Market?
The power electronics market consists of sales of power electronics by entities (organizations, sole traders, and partnerships) that convert electrical power from one form to another to deliver power. Power electronics are electronic circuit devices that transfer power from a source to a load efficiently and robustly using diodes, transistors, and thyristors.
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What drives the Global Power Electronics Market?
The rapid development of electric vehicles is significantly contributing to the growth of the power electronics market. Electric vehicles are vehicles that are partially or fully powered by electric power. Power electronics are used in numerous components of electric vehicles to handle electrical energy flow and also play a key role in energy management. For instance, according to International Energy Agency (IEA), a France based independent intergovernmental agency, In 2020, there were more than 10 million electric cars on the road worldwide, up 43% from 2019. Therefore, the rapid development of electric vehicles is expected to propel the growth of the market going forward.
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https://www.thebusinessresearchcompany.com/report/power-electronics-global-market-reportGlobal Power Electronics Market Segments
The global power electronics market is segmented:
By Product: Discrete, Module
By Material: Silicon, Silicon Carbide, Gallium Nitride
By Voltage: Low Voltage, Medium Voltage, High Voltage
By Application: Power Management, UPS, Renewable, Other Applications
By End User Industry: Automotive, Consumer Electronics, IT and Telecommunication, Military And Aerospace, Industrial, Energy And Power, Other End Use Industries
By Geography: The regions covered in the power electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Power Electronics Global Market Report 2022provides market size and growth forecasts for the global power electronics market, power electronics global market share, power electronics market segments and geographies, power electronics market competitive landscape including leading competitors’ revenues, profiles and market shares. The power electronics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Power Electronics Industry Playersinclude ABB Ltd, Fuji Electric Co. Ltd., Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corporation, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments incorporated, Toshiba Corporations, Vishay Intertechnology, NXP Semiconductors , GaN Systems Inc., Littelfuse Inc., Maxim Integrated, ROHM CO. LTD., SEMIKRON, and Transphorm Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.