North America Power Electronics Market Forecast to 2030 - Regional Analysis - by Type (Power Discrete, Power Module, and Power IC), Material [Silicon (SI), Silicon Carbide (SIC), Gallium Nitride (GAN), and Others], and Industry Vertical (ICT, Automotive &

North America Power Electronics Market Forecast to 2030 - Regional Analysis - by Type (Power Discrete, Power Module, and Power IC), Material [Silicon (SI), Silicon Carbide (SIC), Gallium Nitride (GAN), and Others], and Industry Vertical (ICT, Automotive & Transportation, Consumer Electronics, Industrial, Energy & Power, and Others)

The North America power electronics market was valued at US$ 12,644.52 million in 2022 and is expected to reach US$ 18,908.48 million by 2030; it is estimated to record a CAGR of 5.2% from 2022 to 2030. Rising Demand for Power-efficient and High-energy Devices Fuels North America Power Electronics Market Industrial appliances such as motor drives, power converters, UPSs, and server power supplies consume a large amount of power. Consequently, any improvement in industrial power supply efficiency will result in a significant drop in operating expenses for a business. The demand for high-efficiency power supplies is increasing across the globe due to their improved thermal performance and higher power density. Currently, uninterruptible power supplies are one of the most widely used applications for power semiconductors. Numerous hardware such as computers, communications equipment, data centers, and other electrical equipment are integrated with power semiconductors that protect them against unplanned power outages. The system used for uninterruptible power supplies typically consists of batteries and an IGBT (insulated-gate bipolar transistor) inverter, which have high voltage capabilities. This increases its adoption in high-current-density applications. High-efficiency power sources are becoming increasingly necessary worldwide. Growing awareness related to efficient energy usage is creating demand for power semiconductors among consumers. Power semiconductors are also becoming an essential component to reduce the carbon footprint of society worldwide. Power semiconductors such as diodes, thyristors, and transistors are highly used for regulating electricity in automotive, consumer electronics, power, energy, ICT, and other industries. Thus, the rising demand for power-efficient and high-energy devices drives the power electronics market North America Power Electronics Market Overview The North America power electronics market is segmented into the US, Canada, and Mexico. The power electronics market in North America is experiencing strong and consistent growth due to increasing demand for clean energy. The power electronics play a crucial role in renewable energy generation, transmission, and storage. With an increased focus on sustainability, the demand for power electronics is rising in sectors such as solar, wind, and electric vehicles. In addition, industrial automation and robotics rely heavily on power electronics for efficient control and operation. Further, the US is the largest power electronics market in North America, followed by Canada and Mexico. The US market is expected to continue to dominate, driven by its large industrial base and strong focus on technological innovation. Moreover, North America comprises several major market players such as Rockwell Automation, STMicroelectronics, Texas Instruments Incorporated, Toshiba Corporation, ABB Group, Fuji Electric Co, Infineon Technologies AG, Microsemi Corporation, Mitsubishi, and Renesas Electronics Corporation. These companies invest in research and development activities related to power electronics. Therefore, owing to the above factors, the power electronics market in North America is gaining traction. North America Power Electronics Market Revenue and Forecast to 2030 (US$ Million) North America Power Electronics Market Segmentation The North America power electronics market is categorized into type, material, industry vertical, and country. Based on type, the North America power electronics market is categorized into power discrete, power module, and power IC. The power module segment held the largest market share in 2022. In terms of material, the North America power electronics market is categorized into Silicon (SI), Silicon Carbide (SIC), Gallium Nitride (GAN), and others. The Silicon Carbide (SIC) segment held the largest market share in 2022. By industry vertical, the North America power electronics market is segmented into ICT, automotive & transportation, consumer electronics, industrial, energy & power, and others. The consumer electronics segment held the largest market share in 2022. By country, the North America power electronics market is segmented into the US, Canada, and Mexico. The US dominated the North America power electronics market share in 2022. Vishay Intertechnology Inc; Toshiba Electronic Devices & Storage Corp; Littelfuse, Inc; Renesas Electronics Corp; ROHM Co Lt; Fuji Electric Co Ltd; Mitsubishi Electric Corp; STMicroelectronics NV; Semiconductor Components Industries, L.L.C. (On Semiconductor); and Infineon Technologies AG are some of the leading companies operating in the North America power electronics market.

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