The power electronics market is expected to foresee significant growth opportunities during the forecast period, i.e., 2020 to 2026. The power electronics market is expected to witness the compound annual growth rate (CAGR) of 9.1% from 2020 to 2026. The power electronics market is expected to exhibit moderate growth during the forecast period due to the adoption of power devices among various applications. Power electronics is a solid-state circuitry device that converts and controls electric power from the source to the load in an efficient and convenient manner. It is used to control the fluctuated power from one device to other power devices such as diodes, transistors, and thyristors. In addition, it supports power management to enhance energy conservation in various applications such as industrial systems, consumer electronics, and electric vehicles. However, current leakage at high temperature could restrain its market growth. Nevertheless, these restraints are expected to have a reduced impact in the near future, owing to the government initiatives in HVDC and smart grid.
The global power electronics market is segmented based on device, type, application, and geography. The device segment is further bifurcated into power diodes, bipolar-junction transistor (BJT), metal-oxide-semiconductor field-effect transistor (MOSFET), insulated-gate bipolar transistor (IGBT), and thyristor. By type, the market is classified into power IC, power modules, and power discrete. Based on application, the market is segmented into energy & power, industrial system, consumer electronics, inverter & UPS, automotive, others. The market is analyzed on the basis of four regions, namely North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (South & Central America, Middle East, and Africa).
The scope of the global power electronics market report covers an in-depth analysis of the market in terms of both qualitative and quantitative analysis across the segments as well as cross-sectional analysis of the segments including the geographies and its countries. The market has been analyzed both from demand as well as supply-side to come to an accurate scenario. Products across application and application across geographies have been mapped to provide you a precise competitive scenario to have a leading edge in the market.
The key companies profiled in the report include Mitsubishi Electric Corp., Toshiba Corporation, ABB Group, Infineon Technologies AG, STMicroelectronics, Fuji Electric Co. Ltd., Rockwell Automation, Inc., Renesas Electronics Corporation, Microsemi Corporation, and Texas Instruments, Inc.
Market Segmentation of Global Power Electronics Market