Power Electronics Market Growth Drivers, Business Challenges & Development Trends 2030

Posted by sneha patil on February 24th, 2023

Overview

The rising need for renewable energy is the main factor boosting the growth of the power electronics market. In addition, electric vehicles are increasingly adopting portable energy, which helps to decrease power consumption and energy use and boosts mileage and battery life. Power Electronics Market Size was valued at USD 28.7 billion in 2021. The Power Electronics market industry is projected to grow from USD 30.1 Billion in 2022 to USD 42.08 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.90% during the forecast period (2022 - 2030).

Regional Analysis

North America, Asia-Pacific, Europe, and the Rest of the World are the regions into which the power electronics market is divided. During the projection period, the Asia-Pacific region will hold the most significant market share for power electronics. According to predictions, this region will have a 10% CAGR. The increased demand for technological devices is primarily to blame. With the rising use of renewable energy, the market will experience massive revenue growth. Countries like Japan, China, India, Korea, and others are advancing in their usage of renewable energy. By 2030, these nations want to sell 25% more electric cars than they already do.

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Power Electronics Market Key Players

Alpha & Omega Semiconductor (AOS) Europe, AMS AG, Analog Devices Inc, Dialog Semiconductor, Diodes Incorporated, Semiconductor Component Industries LLC, Infineon Technologies AG, Renesas Electronics Corporation, Maxim Integrated, Microchip Technology Inc., STMicroelectronics, Texas Instruments, Toshiba Electronic Devices & Storage Corporation, Vishay Intertechnology Inc. ,Allegro Semiconductors

Market Segmentation

Wafer materials, applications, wafer sizes, component types, and wafer types are the different market segments for power electronics. The power electronics market is divided into N-Type and P-Type based on wafer materials. The power electronics sector is divided into the Thyristor, Static Switches, Diodes, MOSFET, AC/DC Converter, and other segments based on their components. The Gate Turn-Off Transistor (GTO), MCT (MOS-Controlled Thyristor), and Silicon Controlled Rectifier are different subtypes of the thyristor (SCR). The power electronics market is segmented by application into automotive, transportation, industrial, consumer electronics, defense and aerospace, telecommunications and IT, utilities and energy, and others.

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sneha patil

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sneha patil
Joined: December 28th, 2020
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