Abstract
Summary
The power electronics market was valued at $30,908.56 million in 2022, and is projected to reach $52,764.15 million by 2032, registering a CAGR of 5.5% from 2023 to 2032.
A power module is a set of power components integrated into power semiconductor devices. Power devices can attain extremely low resistance and high-frequency switching. These properties are exploited in high-efficiency power supplies, electric vehicles (EVs), hybrid electric vehicles (HEVs), photovoltaic inverters, and RF switching. These devices are applicable in power supplies for servers, IT equipment, high-efficiency & stable power supplies, and EV & HEV devices. This is attributed to the fact that these devices facilitate the control and conversion of electrical power effectively and efficiently.
The prominent factors that drive the power electronics market growth include increase in demand for power electronics component across various industry verticals, increase in adoption of SiC power devices, surge in need for power management devices, and rise in adoption of power electronics components in electric vehicles. Moreover, surge in demand for SiC-based photovoltaic cells in the developing countries, including China, Brazil, and India, fuels the growth of the global market.
However, complex integration process for advanced electronics devices restrains the growth of the market, globally, due to their complex design requires robust methodology, skillsets, and different toolset for integration, which also raises the cost of the devices. This high cost of devices restrains users from switching to new innovative technology devices. Moreover, the rise in demand for plug-in electric vehicles (PEVs) and innovation in power metal–oxide–semiconductor field-effect transistor (MOSFET) is anticipated to provide lucrative opportunities for the expansion of the power electronics market.
The global power electronics market is segmented into device type, material, application, end user, and region. Depending on device type, the market is classified into power discrete, power module, and power IC. By material, it is categorized into silicon carbide, gallium nitride, sapphire, and others. The applications covered in the study include power management, uninterruptible power supply (UPS), renewable, and others. On the basis of end-use, the market is divided into telecommunication, industrial, automotive, consumer & enterprise, military & defense, energy & power, and others.
Region wise, the power electronics market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific accounted for the highest share, owing to the expansion of the electronics market and rise in sales of EVs.
The key players operating in the market includes ABB Group, Fuji Electric Co. LTD, Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corporation, Renesas Electronics Corporation, Rockwell Automation, Inc., STMicroelectronics, Texas Instruments Incorporated, and Toshiba Corporation are provided in this report.
Key Benefits For Stakeholders
●This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the power electronics market analysis from 2022 to 2032 to identify the prevailing power electronics market opportunities.
●The market research is offered along with information related to key drivers, restraints, and opportunities.
●Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
●In-depth analysis of the power electronics market segmentation assists to determine the prevailing market opportunities.
●Major countries in each region are mapped according to their revenue contribution to the global market.
●Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
●The report includes the analysis of the regional as well as global power electronics market trends, key players, market segments, application areas, and market growth strategies.
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Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
● Product Benchmarking / Product specification and applications
● Product Life Cycles
● Supply Chain Analysis & Vendor Margins
● Upcoming/New Entrant by Regions
● Market share analysis of players by products/segments
● New Product Development/ Product Matrix of Key Players
● Additional company profiles with specific to client's interest
● Additional country or region analysis- market size and forecast
● Expanded list for Company Profiles
● Historic market data
● Key player details (including location, contact details, supplier/vendor network etc. in excel format)
● Market share analysis of players at global/region/country level
Key Market Segments
By Application
● Power Management
● UPS
● Renewable
● Others
By End Use
● Telecommunication
● Industrial
● Automotive
● Consumer Electronics
● Military and Defense
● Energy and Power
● Others
By Device Type
● Power Discrete
● Power Module
● Power IC
By Material
● Others
● Silicon Carbide
● Gallium Nitride
● Sapphire
By Region
● North America
○ U.S.
○ Canada
○ Mexico
● Europe
○ UK
○ Germany
○ France
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ South Korea
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa
● Key Market Players
○ Microsemi Corporation
○ Rockwell Automation, Inc.
○ ABB, Ltd.
○ Renesas Electronics Corporation
○ Toshiba Corporation
○ Fuji Electric Co., Ltd.
○ Mitsubishi Electric Corporation
○ STMicroelectronics N.V.
○ Infineon Technologies AG
○ Texas Instruments Incorporated
Table of Contents
1 INTRODUCTION
1.1 Report description
1.2 Key market segments
1.3 Key benefits to the stakeholders
1.4 Research methodology
1.4.1 Primary research
1.4.2 Secondary research
1.4.3 Analyst tools and models
2 EXECUTIVE SUMMARY
2.1 CXO Perspective
3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top impacting factors
3.2.2 Top investment pockets
3.3 Porter’s five forces analysis
3.3.1 Moderate to high bargaining power of suppliers
3.3.2 Moderate threat of new entrants
3.3.3 Moderate threat of substitutes
3.3.4 Moderate to high intensity of rivalry
3.3.5 Moderate to high bargaining power of buyers
3.4 Market dynamics
3.4.1 Drivers
- 3.4.1.1 Increase in demand for power electronics component across various industry verticals
- 3.4.1.2 Rise in need for power management devices
- 3.4.1.3 Rise in integration of power electronics components in electric vehicles
3.4.2 Restraints
- 3.4.2.1 Complex integration process of advanced electronics devices
3.4.3 Opportunities
- 3.4.3.1 Rise in demand for plug-in electric vehicles (PEVs)
- 3.4.3.2 Innovation in power metal-oxide-semiconductor field-effect transistor (MOSFET)
4 POWER ELECTRONICS MARKET, BY DEVICE TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Power Discrete
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Power Module
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4 Power IC
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country
5 POWER ELECTRONICS MARKET, BY MATERIAL
5.1 Overview
5.1.1 Market size and forecast
5.2 Silicon Carbide
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Gallium Nitride
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4 Sapphire
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country
5.5 Others
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market share analysis by country
6 POWER ELECTRONICS MARKET, BY APPLICATION
6.1 Overview
6.1.1 Market size and forecast
6.2 Power Management
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3 UPS
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country
6.4 Renewable
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market share analysis by country
6.5 Others
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market share analysis by country
7 POWER ELECTRONICS MARKET, BY END USE
7.1 Overview
7.1.1 Market size and forecast
7.2 Telecommunication
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market share analysis by country
7.3 Industrial
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market share analysis by country
7.4 Automotive
7.4.1 Key market trends, growth factors and opportunities
7.4.2 Market size and forecast, by region
7.4.3 Market share analysis by country
7.5 Consumer Electronics
7.5.1 Key market trends, growth factors and opportunities
7.5.2 Market size and forecast, by region
7.5.3 Market share analysis by country
7.6 Military and Defense
7.6.1 Key market trends, growth factors and opportunities
7.6.2 Market size and forecast, by region
7.6.3 Market share analysis by country
7.7 Energy and Power
7.7.1 Key market trends, growth factors and opportunities
7.7.2 Market size and forecast, by region
7.7.3 Market share analysis by country
7.8 Others
7.8.1 Key market trends, growth factors and opportunities
7.8.2 Market size and forecast, by region
7.8.3 Market share analysis by country
8 POWER ELECTRONICS MARKET, BY REGION
8.1 Overview
8.1.1 Market size and forecast By Region
8.2 North America
8.2.1 Key market trends, growth factors and opportunities
8.2.2 Market size and forecast, by Device Type
8.2.3 Market size and forecast, by Material
8.2.4 Market size and forecast, by Application
8.2.5 Market size and forecast, by End Use
8.2.6 Market size and forecast, by country
- 8.2.6.1 U.S
- 8.2.6.1.1 Market size and forecast, by Device Type
- 8.2.6.1.2 Market size and forecast, by Material
- 8.2.6.1.3 Market size and forecast, by Application
- 8.2.6.1.4 Market size and forecast, by End Use
- 8.2.6.2 Canada
- 8.2.6.2.1 Market size and forecast, by Device Type
- 8.2.6.2.2 Market size and forecast, by Material
- 8.2.6.2.3 Market size and forecast, by Application
- 8.2.6.2.4 Market size and forecast, by End Use
- 8.2.6.3 Mexico
- 8.2.6.3.1 Market size and forecast, by Device Type
- 8.2.6.3.2 Market size and forecast, by Material
- 8.2.6.3.3 Market size and forecast, by Application
- 8.2.6.3.4 Market size and forecast, by End Use
- 8.2.6.1 U.S
8.3 Europe
8.3.1 Key market trends, growth factors and opportunities
8.3.2 Market size and forecast, by Device Type
8.3.3 Market size and forecast, by Material
8.3.4 Market size and forecast, by Application
8.3.5 Market size and forecast, by End Use
8.3.6 Market size and forecast, by country
- 8.3.6.1 UK
- 8.3.6.1.1 Market size and forecast, by Device Type
- 8.3.6.1.2 Market size and forecast, by Material
- 8.3.6.1.3 Market size and forecast, by Application
- 8.3.6.1.4 Market size and forecast, by End Use
- 8.3.6.2 Germany
- 8.3.6.2.1 Market size and forecast, by Device Type
- 8.3.6.2.2 Market size and forecast, by Material
- 8.3.6.2.3 Market size and forecast, by Application
- 8.3.6.2.4 Market size and forecast, by End Use
- 8.3.6.3 France
- 8.3.6.3.1 Market size and forecast, by Device Type
- 8.3.6.3.2 Market size and forecast, by Material
- 8.3.6.3.3 Market size and forecast, by Application
- 8.3.6.3.4 Market size and forecast, by End Use
- 8.3.6.4 Rest of Europe
- 8.3.6.4.1 Market size and forecast, by Device Type
- 8.3.6.4.2 Market size and forecast, by Material
- 8.3.6.4.3 Market size and forecast, by Application
- 8.3.6.4.4 Market size and forecast, by End Use
- 8.3.6.1 UK
8.4 Asia-Pacific
8.4.1 Key market trends, growth factors and opportunities
8.4.2 Market size and forecast, by Device Type
8.4.3 Market size and forecast, by Material
8.4.4 Market size and forecast, by Application
8.4.5 Market size and forecast, by End Use
8.4.6 Market size and forecast, by country
- 8.4.6.1 China
- 8.4.6.1.1 Market size and forecast, by Device Type
- 8.4.6.1.2 Market size and forecast, by Material
- 8.4.6.1.3 Market size and forecast, by Application
- 8.4.6.1.4 Market size and forecast, by End Use
- 8.4.6.2 Japan
- 8.4.6.2.1 Market size and forecast, by Device Type
- 8.4.6.2.2 Market size and forecast, by Material
- 8.4.6.2.3 Market size and forecast, by Application
- 8.4.6.2.4 Market size and forecast, by End Use
- 8.4.6.3 India
- 8.4.6.3.1 Market size and forecast, by Device Type
- 8.4.6.3.2 Market size and forecast, by Material
- 8.4.6.3.3 Market size and forecast, by Application
- 8.4.6.3.4 Market size and forecast, by End Use
- 8.4.6.4 South Korea
- 8.4.6.4.1 Market size and forecast, by Device Type
- 8.4.6.4.2 Market size and forecast, by Material
- 8.4.6.4.3 Market size and forecast, by Application
- 8.4.6.4.4 Market size and forecast, by End Use
- 8.4.6.5 Rest of Asia-Pacific
- 8.4.6.5.1 Market size and forecast, by Device Type
- 8.4.6.5.2 Market size and forecast, by Material
- 8.4.6.5.3 Market size and forecast, by Application
- 8.4.6.5.4 Market size and forecast, by End Use
- 8.4.6.1 China
8.5 LAMEA
8.5.1 Key market trends, growth factors and opportunities
8.5.2 Market size and forecast, by Device Type
8.5.3 Market size and forecast, by Material
8.5.4 Market size and forecast, by Application
8.5.5 Market size and forecast, by End Use
8.5.6 Market size and forecast, by country
- 8.5.6.1 Latin America
- 8.5.6.1.1 Market size and forecast, by Device Type
- 8.5.6.1.2 Market size and forecast, by Material
- 8.5.6.1.3 Market size and forecast, by Application
- 8.5.6.1.4 Market size and forecast, by End Use
- 8.5.6.2 Middle East
- 8.5.6.2.1 Market size and forecast, by Device Type
- 8.5.6.2.2 Market size and forecast, by Material
- 8.5.6.2.3 Market size and forecast, by Application
- 8.5.6.2.4 Market size and forecast, by End Use
- 8.5.6.3 Africa
- 8.5.6.3.1 Market size and forecast, by Device Type
- 8.5.6.3.2 Market size and forecast, by Material
- 8.5.6.3.3 Market size and forecast, by Application
- 8.5.6.3.4 Market size and forecast, by End Use
- 8.5.6.1 Latin America
9 COMPETITIVE LANDSCAPE
9.1 Introduction
9.2 Top winning strategies
9.3 Product mapping of top 10 player
9.4 Competitive dashboard
9.5 Competitive heatmap
9.6 Top player positioning, 2022
10 COMPANY PROFILES
10.1 ABB, Ltd
10.1.1 Company overview
10.1.2 Key executives
10.1.3 Company snapshot
10.1.4 Operating business segments
10.1.5 Product portfolio
10.1.6 Business performance
10.1.7 Key strategic moves and developments
10.2 Fuji Electric Co., Ltd
10.2.1 Company overview
10.2.2 Key executives
10.2.3 Company snapshot
10.2.4 Operating business segments
10.2.5 Product portfolio
10.2.6 Business performance
10.2.7 Key strategic moves and developments
10.3 Infineon Technologies AG
10.3.1 Company overview
10.3.2 Key executives
10.3.3 Company snapshot
10.3.4 Operating business segments
10.3.5 Product portfolio
10.3.6 Business performance
10.3.7 Key strategic moves and developments
10.4 Microsemi Corporation
10.4.1 Company overview
10.4.2 Key executives
10.4.3 Company snapshot
10.4.4 Operating business segments
10.4.5 Product portfolio
10.4.6 Business performance
10.4.7 Key strategic moves and developments
10.5 Mitsubishi Electric Corporation
10.5.1 Company overview
10.5.2 Key executives
10.5.3 Company snapshot
10.5.4 Operating business segments
10.5.5 Product portfolio
10.5.6 Business performance
10.5.7 Key strategic moves and developments
10.6 Renesas Electronics Corporation
10.6.1 Company overview
10.6.2 Key executives
10.6.3 Company snapshot
10.6.4 Operating business segments
10.6.5 Product portfolio
10.6.6 Business performance
10.6.7 Key strategic moves and developments
10.7 Rockwell Automation, Inc
10.7.1 Company overview
10.7.2 Key executives
10.7.3 Company snapshot
10.7.4 Operating business segments
10.7.5 Product portfolio
10.7.6 Business performance
10.8 STMicroelectronics N.V
10.8.1 Company overview
10.8.2 Key executives
10.8.3 Company snapshot
10.8.4 Operating business segments
10.8.5 Product portfolio
10.8.6 Business performance
10.8.7 Key strategic moves and developments
10.9 Texas Instruments Incorporated
10.9.1 Company overview
10.9.2 Key executives
10.9.3 Company snapshot
10.9.4 Operating business segments
10.9.5 Product portfolio
10.9.6 Business performance
10.9.7 Key strategic moves and developments
10.10 Toshiba Corporation
10.10.1 Company overview
10.10.2 Key executives
10.10.3 Company snapshot
10.10.4 Operating business segments
10.10.5 Product portfolio
10.10.6 Business performance
10.10.7 Key strategic moves and developments