Growth of Power Electronics Market Attributed to Thriving Automotive Industry
Posted by industryarc on August 8th, 2019
Today, it is unimaginable to think of living in a society without electricity. Power electronics is a combination of power engineering, analogue electronics, semiconductor devices, and control systems. Increase in adoption of power electronics in electric vehicles, electronics manufacturing sector, and enhanced need for power management devices in energy & power, automotive, and consumer electronics are fueling the growth of the power electronics market. According to a fresh market research report from IndustryARC, titled “Power Electronics Market: By Substrate Wafer Technology (SiC, GaN and Others); By Devices and By Application (Industrial, Solar power, Wind power, Electric cars, Aerospace and Consumer Electronics) - Forecast (2018 - 2023),” the demand is poised to increment at a highly profitable rate. The analyst of the report urges market players to harness the automotive segment for maximum return of investments.
Additionally, increased adoption of renewable energy sources as power electronics is one of the major progressing factors of the power electronics market. The market is expanding because of the demand for new power electronic applications in variable speed motor drives, regulated power supplies, uninterruptible power supplies, and robotics. Increase in adoption of electric cars, Information and Communication Technology (ICT), telecommunications, self-monitoring, and diagnostics systems, and hospitals are the major areas boosting the growth of the market. Cost-conscious end users and homogeneous nature of products are restricting the growth of the market
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Power Electronics Market: Disruptive Drivers and Trends
Technological advances such as usage of Silicon Carbide (SiC) in high power three terminal semiconductor switching devices, which includes power MOSFETs, power diode and Bipolar Junction Transistor (BJT), are expected to create new niches for innovative players to increment their market share.
Integration of power and control circuitry on a single Integrated Circuit (IC), which combines high voltage components monolithically with low voltage components, aids in miniaturization of components. As the trend of compact electrical and electronic devices engulfs the world, the power electronics market demand is anticipated to gain.
The growing acceptance of new power transmission concepts, such as wireless energy transmission technology using laser links. These links are used as a communications channel and also as a means to transfer energy without wires.
Some of the major players operating in the power electronics market are Fairchild Semiconductor, Hitachi Co., Texas Instruments Incorporated, Mitsubishi Electric Corporation, Infineon Technologies AG and NXP Semiconductors. Texas offers a different type of power electronics products which includes Switched Capacitor Inverter, 3.5V to 36V, 5A Synchronous Step-Down Voltage Converter, Automotive, 60V Input, 3.5A, Step-Down DC-DC Converter with Eco-mode, and 3-42V Wide Vin, Current Mode Non-Synchronous Buck-Boost Controller. Switched Capacitor Inverter inverts a positive voltage in the range from 2.7V to 5.5V to the corresponding negative voltage.
Power electronics is the application of solid-sate electronics which deals with the control and conversion of active electrons. Increased adoption of renewable energy sources as power electronics is one of the major progressing factors of the power electronics market. The influx of investment on power security by various flourishing power consuming sectors is expected to ensure healthy growth of the global power electronics market in the near future.
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