Global Power Electronics Market, By Material (Silicon, Silicon Carbide, Gallium Nitride, and Others)

Published Date: | Report Code : IT2058771

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The Global Power Electronics Market is projected to reach USD 63.75 billion by 2028, at a CAGR of 5.2% during the forecast period. The huge rise in the use of power devices across the broad spectrum of industries is expected to propel power electronics market growth during the forecast period.

Power Electronics Market

Power electronics is the use of solid state electronics to control and convert electrical power. Power electronics systems can be classified as rectifiers (AC to DC), inverters (DC to AC), choppers (DC to DC), and converters (AC to AC). Power systems transmit electrical power over long distances compensating for attenuation and distortions along the way. However, without the use of power devices, it will be an impossible to distribute electrical power across a huge area. 

The electronics industry is a major consumer of power devices accounting for approximately 76% of the power devices produced annually, including SCRs. MOSFETs, and IGBTs. Power devices are used abundantly in large-scale industries, where automation systems are installed. These power devices are responsible for providing uninterrupted power to systems to ensure proper functioning. In the corporate sector, companies make use of power electronic devicesfor 24/7 power supply. Power electronics are essential to realize smart grid projects. A smart grid uses power devices to collect and store information about consumer behavior. This is used to develop patterns that will specifically cater to the needs of the consumer. Power plants are one of the major users of power electronic devices. Steam turbines and nuclear fission reactors make use of power devices to support their electrical power consumption needs. Power devices such as rectifiers in inverters are used in UPS systems. Both online and offline UPS systems use these power devices to a huge extent to provide uninterrupted, non-attenuated, non-distorted power in case of power cuts. 

 Power Electronics Market

The global power electronics market is dominant in the Asia Pacific region due to unprecedented urbanization giving rise to the growth of industries and corporate sector. Countries, especially China and India are rapidly growing markets for power electronics, owing to changing lifestyles and increasing dependence on electronic devices. The power electronics market in North America and Europe is also witnessing growth due to the increased use of automation systems across all sectors. The power electronics market in the Middle East is expected to grow during the forecast period. 

Key Factors Impacting the Growth of Power Electronics Market:
    • Increasing use of automation systems
    • Growth of the electronic industry and increasing dependence on electronic devices
    • Environmental concerns regarding rising radiation levels
    • Increasing demand in the nanotechnology sector

Key Developments in the Power Electronics Market:

    • On April 4, 2011, Texas Instruments acquired National Semiconductors. After this successful deal, Texas Instruments
        became the world’s largest manufacturer of analog technology components.
    • On March 12 2019, Mitsubishi Electric Corporation announced the acquisition of ICONICS, Inc., a US-based software
        company, which focuses on SCADA, IoT, mobile, analytics, and cloud software products used for manufacturing,
        industrial and building automation activities. By combining ICONICS’ software-developing capabilities and Mitsubishi
        Electric’s factory-automation technology, it aims to capture a major share of the power electronics market.

What Does This Report Provide? 
This report provides a detailed understanding of the global power electronics market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the power electronics market.

Market Segmentation:
By Material:
    • Silicon
    • Silicon Carbide
    • Gallium Nitride
    • Others

By Device Type:
    • Power Discrete
    • Power Modules 
    • Power ICs

By Application:
    • Power Management
    • Drives
    • UPS
    • Rail Traction
    • Transportation
    • Others

By End-use Industry:
    • ICT
    • Electrical & Electronics
    • Energy & Power
    • Industrial
    • Automotive
    • Aerospace & Defense
    • Others

By Region:
    • North America
        ◦ By Country (US, Canada, Mexico)
        ◦ By Material
        ◦ By Device Type
        ◦ By Application
        ◦ By End-use Industry
    • Western Europe
        ◦ By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
        ◦ By Material
        ◦ By Device Type
        ◦ By Application
        ◦ By End-use Industry
    • Eastern Europe
        ◦ By Country (Russia, Turkey, Rest of Eastern Europe)
        ◦ By Material
        ◦ By Device Type
        ◦ By Application
        ◦ By End-use Industry
    • Asia Pacific
        ◦ By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
        ◦ By Material
        ◦ By Device Type
        ◦ By Application
        ◦ By End-use Industry
    • Middle East 
        ◦ By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
        ◦ By Material
        ◦ By Device Type
        ◦ By Application
        ◦ By End-use Industry
    • Rest of the World
        ◦ By Region (South America, Africa)
        ◦ By Material
        ◦ By Device Type
        ◦ By Application
        ◦ By End-use Industry

Companies Covered: Infineon Technologies, Texas Instruments, On Semiconductor, STMicroelectronics, Mitsubishi Electric, Fuji Electric, Renesas Electronics, Toshiba, NXPSemiconductors, Vishay Intertechnology, Maxim Integrated Products, SEMIKRON, ABB, Hitachi, Analog Devices, ROHM Semiconductor, Microsemi, Littelfuse, Microchip Technology, and Danfoss.

Years Considered In The Study

Historic Year

2016, 2017

Base Year

2018

Forecast Period

2019-2028 

CAGR % (2019-2028)

5.2%

Reasons to Buy This Report:
    • Market size estimation of the global power electronics market on regional and global basis.
    • Unique research design for market size estimation and forecast.
    • Profiling of major companies operating in the power electronics market with key developments.
    • Broad scope to cover all the possible segments helping every stakeholder in the market.

Customization:
We provide customization of the study to meet specific requirements:
    • By Segment 
    • By Sub-segment 
    • By Region/Country

For more information, contact: [email protected]

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