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, and Others), By Region, Competition, Forecast & Opportunities, 2017-2027F
New York, June 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the 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
Global power electronics market was valued at USD40.52 billion in 2021, that may grow during the forecast period, at 5.61% CAGR to achieve the market value of USD55.91 billion by 2027. Higher consumption of energy and power demands for the heavy electronics drive the growth of the global power electronics market in the upcoming five years. Growing awareness regarding green energy and renewable sources of energy also facilitate the growth of the global power electronics market in the next five years. Increasing dependency over various sources of energy due to higher consumption of energy and power play important role in market growth. Introduction of smart grids that help with the reliable and efficient electrical energy supply, along with the integration of other renewable energy sources into the existing energy network further supports the growth of the global power electronics market in the next five years. Also, growing demands for the electronic vehicles and the benefits of the electronic automotives toward environment stability further aids the growth of the global power electronics market in the future five years. Threat to the environment due to use of coal and petroleum products to fuel the energy consumption has drawn governments focus on alternatives thereby substantiating the growth of the global power electronics market in the forecast years through 2027.
Although higher costs of these power electronics in various developing countries may act as restraining factor toward the market growth. Although, government investment and favorable schemes coupled with the promotional activities and aggressive advertisement of the technological advancement in the power electronics may overcome the market restraint and thereby facilitate the growth of the global power electronics market in the forecast period.
The global power electronics market is segmented by device type, material, voltage, application, regional distribution, and competitive analysis.Based on 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 application, the market is bifurcated into ICT, consumer electronics, industrial, automotive, aerospace & defense, and others.
The market is also analyzed among various regions as North America region, South America region, Europe region, Asia Pacific region, and Middle East & Africa region.
In terms of application-based segmentation, automotive segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to increasing demands for the electric and hybrid vehicles all around the world. Increasing sales and thus the advancement in the hybrid cars substantiate the segmental growth.
Mitsubishi Electric Corporation, Fuji Electric Co., Ltd., Toshiba Corporation, Infineon Technologies AG, ON Semiconductor Corporation, STMicroelectronics International N.V., Texas Instruments Incorporated., Renesas Electronics Corporation, Vishay Intertechnology, Inc., NXP Semiconductors N.V. are among the major market players that lead the market growth of the global power electronics market.
Years considered for this report:
Historical Years: 2017- 2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F– 2027F
Objective of the Study:
• To analyze the market size of global power electronics market from 2017 to 2021.
• To estimate and forecast the market size of global power electronics market from 2022E to 2027F and growth rate until 2027.F
• To classify and forecast 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 global power electronics market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global power electronics market.
• To identify and analyze the profile of leading players operating in global power electronics market.
• To identify key sustainable strategies adopted by market players in global power electronics market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers & service providers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of global power electronics market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall 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.
Key Target Audience:
• Manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to power electronics
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global power electronics market has been segmented into the following categories in addition to the industry trends which have also been listed below:
• Power Electronics Market, By Device Type:
o Power Discrete
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 & Defense
• Power Electronics Market, By Region:
o North America
o South America
o Middle East and Africa
United Arab Emirates
Company Profiles: Detailed analysis of the major companies present in global power electronics market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06089437/?utm_source=GNW
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