Global Power Electronics Market, By Device Type (Power Discrete, Power Module, and Power IC), By Material (Silicon, Silicon Carbide, Gallium Nitride, and Others), By Voltage (Low Voltage, Medium Voltage, High Voltage), By Application (ICT, Consumer Electronics, Industrial, Automotive, Aerospace & Defense, & Others), By Region, Competition, Forecast & Opportunity, 2017-2027F
New York, June 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of its report “Global Power Electronics Market, By Device Type, By Material, By Voltage, By Application, By Region, Competition, Forecast & Opportunities, 2017-2027F” – https://www.reportlinker.com/p06089437/?utm_source=GNW
The global power electronics market was valued at $40.52 billion in 2021, which could grow at a CAGR of 5.61% over the forecast period to reach the market value of $55.91 billion by 2027. Higher energy consumption and power demand for heavy electronics will drive the growth of the global power electronics market over the next five years. Growing awareness of green energy and renewables is also facilitating the growth of the global power electronics market over the next five years. Increasing dependence on different energy sources due to higher consumption of energy and power play an important role in market growth. The introduction of smart grids that help provide a reliable and efficient electrical energy supply, along with the integration of other renewable energy sources into the existing energy grid, will support the growth of the global power electronics market over the next five years. Also, the growing demand for electronic vehicles and the environmental stability benefits of electronic cars will help the growth of the global power electronics market over the next five years. An environmental threat posed by the use of coal and petroleum products to fuel energy consumption has led governments to focus on alternatives, supporting the growth of the global power electronics market in the forecast years to 2027.
Although higher costs of these power electronics in several developing countries can be a restraining factor for the market growth. While government investment and favorable arrangements coupled with the promotional activities and aggressive advertising of the technological advancements in power electronics can overcome the market constraint and thereby facilitate the growth of the global power electronics market over the forecast period.
The global power electronics market is segmented by device type, material, voltage, application, regional distribution, and competitive analysis. Based on the device type, the market is further segmented into power discrete, power module and power IC.
By material, the market is fragmented into silicon, silicon carbide, gallium nitride and others. Based on the application, the market has been split into ICT, consumer electronics, industrial, automotive, aerospace and defense, and others.
The market is also analyzed in different regions such as North America region, South America region, Europe region, Asia-Pacific region, and Middle East and Africa region.
In terms of application-based segmentation, the automotive segment is expected to have the largest revenue shares in the market and to dominate the market segment over the next five years due to the increasing demand for electric and hybrid vehicles around the world. Rising sales and thus the advance of hybrid cars underpin the segmental growth.
Mitsubishi Electric Corporation, Fuji Electric Co., Ltd., Toshiba Corporation, Infineon Technologies AG, ON Semiconductor Corporation, STMicroelectronics International NV, Texas Instruments Incorporated., Renesas Electronics Corporation, Vishay Intertechnology, Inc., NXP Semiconductors NV are among the major markets players leading the market growth of the global Power Electronics market.
Years considered for this report:
Historic years: 2017- 2020
Base year: 2021
Estimated year: 2022E
Forecast Period: 2023F– 2027F
Purpose of the study:
• To analyze the market size of the Global Power Electronics Market from 2017 to 2021.
• To estimate and forecast the market size of the global power electronics market from 2022E to 2027F and its growth rate to 2027.F
• Classify and forecast the global power electronics market based on device type, material, voltage, application, regional distribution, and competitive analysis.
• To identify dominant region or segment in the global power electronics market.
• To identify drivers and challenges for the global power electronics market.
• Examining competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the global power electronics market.
• Identify and analyze the profile of leading players operating in the global power electronics market.
• Identify key sustainable strategies adopted by market players in the global power electronics market.
The analyst conducted both primary and extensive secondary research for this study. Initially, the analyst collected a list of manufacturers around the world.
The analyst then conducted primary research surveys of the identified companies. During the interviews, the respondents were also informed about their competitors.
This technique allowed the analyst to include the manufacturers that could not be identified due to the limitations of secondary research. The analyst examined the manufacturers and service providers, distribution channels and presence of all major players around the world.
The analyst calculated the market size of the global power electronics market using a bottom-up approach, capturing data for various end-user segments and forecasting it for the coming years. The analyst has obtained these values from the industry experts and company representatives and validated externally by analyzing historical data of these products and applications to obtain an appropriate, aggregate market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Main target audience:
• Manufacturers, suppliers, distributors and other stakeholders
• Government agencies such as regulators and policy makers
• Power Electronics Organizations, Forums and Alliances
• Market research and consultancy firms
The study is useful in providing answers to several critical questions that are important to the industry stakeholders such as manufacturers, suppliers, partners, end-users, etc., as well as enabling them to strategize investments and exploit market opportunities.
In this report, the Global Power Electronics Market is divided into the following categories in addition to the industry trends which are also mentioned below:
• Power Electronics Market, by Device Type:
o Power Discreet
o Power module
o Power IC
• Power electronics market, by material:
o Silicon carbide
o Gallium Nitride
• Power electronics market, by voltage:
o Low voltage
o Medium voltage
o High voltage
Power Electronics Market by Application:
o Consumer electronics
o Aerospace and Defense
• Power Electronics Market by Regions:
o North America
o South America
o Middle East and Africa
United Arab Emirates
Company Profiles: Detailed analysis of the major companies present in the global power electronics market.
With the given market data, we offer customizations according to the specific needs of a company. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (maximum five).
Read the full report: https://www.reportlinker.com/p06089437/?utm_source=GNW
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