Power Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global power electronics market size reached US$ 29.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.06% during 2022-2028.
Power electronics involves the study, analysis, and design of circuits that convert electrical energy from one form to another. It is widely utilized in consumer electronics, such as television (TV) sets, personal computers (PCs), and battery chargers. Nowadays, several manufacturers are introducing modern power electronics wherein electric power is converted using semiconductor switching devices. Some of these switching devices include diodes, thyristors, and power metal-oxide-semiconductor field-effect transistor (MOSFET) and insulated-gate bipolar transistor (IGBT).
Power Electronics Market Trends:
The increasing reliance on consumer electronics on account of rapid urbanization and rising disposable incomes represents one of the key factors positively influencing the application of power electronics in fan regulators, light dimmers, air conditioners, induction cooking, emergency lights, vacuum cleaners, and uninterrupted power systems (UPS). In addition, the rising adoption of electronic devices, such as pumps, blowers, elevators, rotary kilns, arc furnaces, and compressors, in textile mills and other manufacturing units is fueling the market growth. Apart from this, it is employed in the automotive industry to enable electric power steering, interior lighting, braking system, seat control, and central body control in vehicles. This, in confluence with the escalating demand for safe, luxurious, and smart vehicles with integrated infotainment systems, is contributing to market growth. Furthermore, the growing construction and mining activities are driving the usage of power electronics in off-the-road (OTR) vehicles. It is also gaining traction in the defense, aeronautics, and spacecraft industries worldwide to supply power and advance control in aircraft, satellites, missiles, space shuttles, and unmanned aerial vehicles (UAVs). Moreover, the surging need for renewable energy sources on account of inflating prices of conventional energy sources and rising environmental concerns is expanding the applications of power electronics in solar and wind panels.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global power electronics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on device, material, application, voltage and end use industry.
Breakup by Device:
Power Discrete
Diode
Transistors
Thyristor
Power Modules
Intelligent Power Module
Power Integrated Module
Power ICs
Power Management Integrated Circuit
Application-Specific Integrated Circuit
Breakup by Material:
Silicon
Sapphire
Silicon Carbide
Gallium Nitride
Others
Breakup by Application:
Power Management
UPS
Renewable
Others
Breakup by Voltage:
Low Voltage
Medium Voltage
High Voltage
Breakup by End Use Industry:
Automotive
Military and Aerospace
Energy and Power
IT and Telecommunication
Consumer Electronics
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Analog Devices Inc., Fuji Electric Co. Ltd., Infineon Technologies AG, Microchip Technology Inc., Mitsubishi Electric Corporation, NXP Semiconductors N.V., Renesas Electronics Corporation, ROHM Co. Ltd., STMicroelectronics, Texas Instruments Incorporated, Toshiba Corporation and Vishay Intertechnology Inc.
Key Questions Answered in This Report:
How has the global power electronics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global power electronics market?
What are the key regional markets?
What is the breakup of the market based on the device?
What is the breakup of the market based on the material?
What is the breakup of the market based on the application?
What is the breakup of the market based on the voltage?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global power electronics market and who are the key players?
What is the degree of competition in the industry?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Power Electronics Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Device
- 6.1 Power Discrete
- 6.1.1 Market Trends
- 6.1.2 Key Segments
- 6.1.2.1 Diode
- 6.1.2.2 Transistors
- 6.1.2.3 Thyristor
- 6.1.3 Market Forecast
- 6.2 Power Modules
- 6.2.1 Market Trends
- 6.2.2 Key Segments
- 6.2.2.1 Intelligent Power Module
- 6.2.2.2 Power Integrated Module
- 6.2.3 Market Forecast
- 6.3 Power ICs
- 6.3.1 Market Trends
- 6.3.2 Key Segments
- 6.3.2.1 Power Management Integrated Circuit (PMIC)
- 6.3.2.2 Application-Specific Integrated Circuit (ASIC)
- 6.3.3 Market Forecast
- 7 Market Breakup by Material
- 7.1 Silicon
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Sapphire
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Silicon Carbide
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Gallium Nitride
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 8 Market Breakup by Application
- 8.1 Power Management
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 UPS
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Renewable
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 9 Market Breakup by Voltage
- 9.1 Low Voltage
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Medium Voltage
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 High Voltage
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 10 Market Breakup by End Use Industry
- 10.1 Automotive
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Military and Aerospace
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Energy and Power
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 IT and Telecommunication
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5 Consumer Electronics
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
- 10.6 Others
- 10.6.1 Market Trends
- 10.6.2 Market Forecast
- 11 Market Breakup by Region
- 11.1 North America
- 11.1.1 United States
- 11.1.1.1 Market Trends
- 11.1.1.2 Market Forecast
- 11.1.2 Canada
- 11.1.2.1 Market Trends
- 11.1.2.2 Market Forecast
- 11.2 Asia-Pacific
- 11.2.1 China
- 11.2.1.1 Market Trends
- 11.2.1.2 Market Forecast
- 11.2.2 Japan
- 11.2.2.1 Market Trends
- 11.2.2.2 Market Forecast
- 11.2.3 India
- 11.2.3.1 Market Trends
- 11.2.3.2 Market Forecast
- 11.2.4 South Korea
- 11.2.4.1 Market Trends
- 11.2.4.2 Market Forecast
- 11.2.5 Australia
- 11.2.5.1 Market Trends
- 11.2.5.2 Market Forecast
- 11.2.6 Indonesia
- 11.2.6.1 Market Trends
- 11.2.6.2 Market Forecast
- 11.2.7 Others
- 11.2.7.1 Market Trends
- 11.2.7.2 Market Forecast
- 11.3 Europe
- 11.3.1 Germany
- 11.3.1.1 Market Trends
- 11.3.1.2 Market Forecast
- 11.3.2 France
- 11.3.2.1 Market Trends
- 11.3.2.2 Market Forecast
- 11.3.3 United Kingdom
- 11.3.3.1 Market Trends
- 11.3.3.2 Market Forecast
- 11.3.4 Italy
- 11.3.4.1 Market Trends
- 11.3.4.2 Market Forecast
- 11.3.5 Spain
- 11.3.5.1 Market Trends
- 11.3.5.2 Market Forecast
- 11.3.6 Russia
- 11.3.6.1 Market Trends
- 11.3.6.2 Market Forecast
- 11.3.7 Others
- 11.3.7.1 Market Trends
- 11.3.7.2 Market Forecast
- 11.4 Latin America
- 11.4.1 Brazil
- 11.4.1.1 Market Trends
- 11.4.1.2 Market Forecast
- 11.4.2 Mexico
- 11.4.2.1 Market Trends
- 11.4.2.2 Market Forecast
- 11.4.3 Others
- 11.4.3.1 Market Trends
- 11.4.3.2 Market Forecast
- 11.5 Middle East and Africa
- 11.5.1 Market Trends
- 11.5.2 Market Breakup by Country
- 11.5.3 Market Forecast
- 12 SWOT Analysis
- 12.1 Overview
- 12.2 Strengths
- 12.3 Weaknesses
- 12.4 Opportunities
- 12.5 Threats
- 13 Value Chain Analysis
- 14 Porters Five Forces Analysis
- 14.1 Overview
- 14.2 Bargaining Power of Buyers
- 14.3 Bargaining Power of Suppliers
- 14.4 Degree of Competition
- 14.5 Threat of New Entrants
- 14.6 Threat of Substitutes
- 15 Price Analysis
- 16 Competitive Landscape
- 16.1 Market Structure
- 16.2 Key Players
- 16.3 Profiles of Key Players
- 16.3.1 ABB Ltd.
- 16.3.1.1 Company Overview
- 16.3.1.2 Product Portfolio
- 16.3.1.3 Financials
- 16.3.1.4 SWOT Analysis
- 16.3.2 Analog Devices Inc.
- 16.3.2.1 Company Overview
- 16.3.2.2 Product Portfolio
- 16.3.2.3 Financials
- 16.3.2.4 SWOT Analysis
- 16.3.3 Fuji Electric Co. Ltd.
- 16.3.3.1 Company Overview
- 16.3.3.2 Product Portfolio
- 16.3.3.3 Financials
- 16.3.3.4 SWOT Analysis
- 16.3.4 Infineon Technologies AG
- 16.3.4.1 Company Overview
- 16.3.4.2 Product Portfolio
- 16.3.4.3 Financials
- 16.3.4.4 SWOT Analysis
- 16.3.5 Microchip Technology Inc.
- 16.3.5.1 Company Overview
- 16.3.5.2 Product Portfolio
- 16.3.5.3 Financials
- 16.3.5.4 SWOT Analysis
- 16.3.6 Mitsubishi Electric Corporation
- 16.3.6.1 Company Overview
- 16.3.6.2 Product Portfolio
- 16.3.6.3 Financials
- 16.3.6.4 SWOT Analysis
- 16.3.7 NXP Semiconductors N.V.
- 16.3.7.1 Company Overview
- 16.3.7.2 Product Portfolio
- 16.3.7.3 Financials
- 16.3.7.4 SWOT Analysis
- 16.3.8 Renesas Electronics Corporation
- 16.3.8.1 Company Overview
- 16.3.8.2 Product Portfolio
- 16.3.8.3 Financials
- 16.3.8.4 SWOT Analysis
- 16.3.9 ROHM Co. Ltd.
- 16.3.9.1 Company Overview
- 16.3.9.2 Product Portfolio
- 16.3.9.3 Financials
- 16.3.9.4 SWOT Analysis
- 16.3.10 STMicroelectronics
- 16.3.10.1 Company Overview
- 16.3.10.2 Product Portfolio
- 16.3.10.3 Financials
- 16.3.10.4 SWOT Analysis
- 16.3.11 Texas Instruments Incorporated
- 16.3.11.1 Company Overview
- 16.3.11.2 Product Portfolio
- 16.3.11.3 Financials
- 16.3.11.4 SWOT Analysis
- 16.3.12 Toshiba Corporation
- 16.3.12.1 Company Overview
- 16.3.12.2 Product Portfolio
- 16.3.12.3 Financials
- 16.3.12.4 SWOT Analysis
- 16.3.13 Vishay Intertechnology Inc.
- 16.3.13.1 Company Overview
- 16.3.13.2 Product Portfolio
- 16.3.13.3 Financials
- 16.3.13.4 SWOT Analysis
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