Power Electronics Market By Device Type (Power Discrete, Power Module, Power IC), By Material (Silicon Carbide, Gallium Nitride, Sapphire), By Application (Power Management, UPS, Renewable), By End-User (Telecommunication, Industrial, Automotive, Consumer electronics, Military & defence, Energy & Power), Industry Analysis, Trends, And Forecast, 2021-2027

  • Report ID: BMRC 1629 | Number of pages: 196 | Published Date: Nov 2021

    Published | Category: Semiconductor | Delivery Timeline: 48 hrs

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To know the impact of COVID-19 On Power Electronics Market By Device Type (Power Discrete, Power Module, Power IC), By Material (Silicon Carbide, Gallium Nitride, Sapphire), By Application (Power Management, UPS, Renewable), By End-User (Telecommunication, Industrial, Automotive, Consumer electronics, Military & defence, Energy & Power), Industry Analysis, Trends, And Forecast, 2021-2027 Market

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Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027

Global Power Electronics Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Increasing importance for renewable energy, rising current density and improving energy efficiency,  growing use of power electronics in aerospace and defense sectors are some factors anticipated to drive the growth of Global Power Electronics Market.

Global Power Electronics Market is valued at USD 22.58 Billion in 2020 and expected to reach USD 35.72 Billion by 2027 with a CAGR of 5.9% over the forecast period.

Scope of Global Power Electronics Market Report:

Power electronics can be defined as the application of solid-state electronics to the control and conversion of electric power from one from to another form using inductors, capacitors, semiconductor devices. Power electronics convert alternating current into direct current and vice versa. These devices used as switches, or as amplifiers. Power electronics passes any amount of current with no voltage drop in any condition such as switch is either opened or closed it withstands an applied voltage and passes no current. Semiconductor devices utilized as switches this optimal property thus most power electronic applications depend on switching devices on and off, which makes proficient. The current and voltage at the device terminals follow a load line, and the power dissipation inside the device is large compared with the power delivered to the load.

Power electronics is used in battery chargers, audio amplifiers, AC adapter, fluorescent lamp ballasts, and DC motor drives used to operate pumps, fans, and manufacturing machinery, up to giga watt-scale high voltage direct current power transmission systems used to interconnect electrical grids. First power electronics invented in 1902 by Peter Cooper Hewitt, it was used to convert alternating current into direct current. 

During COVID-19 pandemic, has shown a decline impact on the growth of power electronics industry. Implementation of a few guidelines by the governments of different nations to manage the COVID-19 pandemic like the total closure of assembling offices; restricted manufacturing with restricted labour and decline demand for end-products are relied upon to influence the development of the power electronics market. In many countries situation such as lockdown has stopped manufacturing which has significantly contributed in the market disruption. Due to the restriction imposed by governments and local authorities all non-essential operations were halted. This has adversely affected the power electronics market owing to the suspension of activities of end users. In addition, due to the COVID-19 power electronics industry is facing shortage of semiconductor raw materials and components problems because of supply chain constraints and the inaccessibility of factories.

The global power electronics market is segmented on the basis of device type, material, application, end-user and region & country level. On the basis of device type, the power electronics market is divided into power discrete, power module and power IC. On the basis material, the power electronics market is divided into silicon carbide, gallium nitride, sapphire and other. On the basis application, the market is divided into power management, ups, renewable and other. On the basis end-user, the power electronics market is divided into telecommunication, industrial, automotive, consumer electronics, military & defence, energy & power and other.

Global Power Electronics Market Segmentation:

By Device Type:

  • Power Discrete 
  • Power Module
  • Power IC

By Material:

  • Silicon Carbide
  • Gallium Nitride
  • Sapphire
  • Other

By Application:

  • Power Management
  • UPS
  • Renewable
  • Other

By End-User:

  • Telecommunication
  • Industrial
  • Automotive
  • Consumer electronics
  • Military & defense
  • Energy & Power
  • other

The regions covered in global power electronics market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global power electronics sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, Egypt, UAE) GCC, Africa, etc.

Key Players for Global Power Electronics Market Report:

The global power electronics market is highly competitive and consists of a few major players like Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, NXP Semiconductor N.V., ON Semiconductor Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Infineon Technologies AG, and Toshiba Electronic Devices & Storage Corporation and others.

Power Electronics Market

Rising Importance for Renewable Energy, Increasing Current Density and Improving Energy Efficiency, and Growing Use of Power Electronics in Aerospace and Defense are Some Factors Anticipated to Drive the Market Growth

The major factor driving growth of power electronics market is growing importance of using renewable energy. The energy saving, in industries like data center and energy storage and growing commercialization of 5G technology will offer a massive opportunity to electronic power companies, especially in distribution centers and in communication applications. In addition, many market players are focusing on improving the increasing current density, improving energy efficiency, and achieving low noise operations. For example, Infineon developed solutions newly launched 600 V CoolMOS S7 product family leads the way for power density and energy efficiency for applications where MOSFETs are switched at a low frequency. Furthermore, rising use of power electronics in the aerospace and defense sector for reducing size, weight, power, and cost, while at the same time increasing command, communications, intelligence, and surveillance capabilities are also empowering the growthy of global power electronics market.

For instance; in January 2020, Solid State Devices Inc. launched the SFC35N120 1200-volt silicon carbide power MOSFETs for high-reliability aerospace and defense power electronics applications, like PFC boost converters and high-voltage DC-DC converters.

However, a high initial cost, deposition of GaN on silica materials which in turn very difficult to reach in high voltage ranges may hamper the global power electronics market. In spite of that, rise in demand for plug-in electric vehicles and innovation in power metal–oxide–semiconductor field effect transistor are anticipated to offer lucrative opportunities for the expansion of the power electronics industry during the forecast period.

Asia Pacific is Anticipated to Witness a Fastest Growth in the Global Power Electronics Market

Asia pacific is expected to witness a fastest growth in the global power electronics market due to major investors as many of the countries and growing investment in in the semiconductor industry. In 2019, countries, like India and South Korea, witnessed the growing demand for Schottky barrier diodes, MOSFETs, and other SiC discrete. Favourable government initiatives are also supporting the renewable energy industry in China. For instance; in July 2020, Finance Ministry, Republic of China, announced the expansion of budget for renewable power subsidies to USD 13 billion, which is 7.5% more than the previous year’s budget. The proposed budget will subsidize wind and solar renewable energy providers for new plant expansion and research & development activities.

North America is predicted to witness the significant development in the global power electronics market within the forecast period due to technological advancements and increased use of electric vehicle and industrial applications in this region. For example; Canada is the largest EV market, with over 40,000 sales in 2018. Annual EV sales growth rate for Canada over 2014-2019 increased each year. 320,000 new EVs were sold in the U.S. in 2019. General, plug-in hybrid electric vehicles (PHEVs) accounted for 27% of the 2019 market, while battery electric vehicles (BEVs) accounted for about 73%.

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

Latin America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA
Report Analysis Details
Historical data 2015 - 2020
Forecast Period 2021 - 2027
Market Size in 2020: USD 22.58 Billion
Base year considered 2020
Forecast Period CAGR %:

5.9%

Market Size Expected in 2027: USD 35.72 Billion
Tables, Charts & Figures: 175
Pages 196
Key Players/Companies Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, NXP Semiconductor N.V., ON Semiconductor Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Infineon Technologies AG, and Toshiba Electronic Devices & Storage Corporation and others.
Segments Covered By Device Type, By Material, By Application, By End-User
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

Key Benefits for Global Power Electronics Market Report

  • Global Power Electronics Market report covers in-depth historical and forecast analysis.
  • Global Power Electronics Market research report provides detail information about market introduction, market summary, global market revenue (revenue USD), market drivers, market restraints, market opportunities, competitive analysis, regional and country level.
  • Global Power Electronics Market report helps to identify opportunities in marketplace.
  • Global Power Electronics Market report covers extensive analysis of emerging trends and competitive landscape.

 


Frequently Asked Questions (FAQ) :
Global Power Electronics Market is valued at USD 22.58 Billion in 2020
Asia pacific is expected to witness a fastest growth in the global power electronics market due to major investors as many of the countries and growing investment in the semiconductor industry. In 2019, countries, like India and South Korea, witnessed the growing demand for Schottky barrier diodes, MOSFETs, and other SiC discrete. Favourable government initiatives are also supporting the renewable energy industry in China. For instance; in July 2020, Finance Ministry, Republic of China, announced the expansion of budget for renewable power subsidies to USD 13 billion, which is 7.5% more than the previous year’s budget. The proposed budget will subsidize wind and solar renewable energy providers for new plant expansion and research & development activities.
Global Power Electronics Market is valued at USD 22.58 Billion in 2020 and expected to reach USD 35.72 Billion by 2027 with a CAGR of 5.9% over the forecast period.
The global power electronics market is projected to register a CAGR of 5.9% over the forecast period.



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Power Electronics Market Size, Share, Growth And Forecast By 2027

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Power Electronics Market By Device Type (Power Discrete, Power Module, Power IC), By Material (Silicon Carbide, Gallium Nitride, Sapphire), By Application (Power Management, UPS, Renewable), By End-User (Telecommunication, Industrial, Automotive, Consumer electronics, Military & defence, Energy & Power), Industry Analysis, Trends, And Forecast, 2021-2027

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