Power Electronics Market Global Size, Growth, Trends and Demand with Outlook 2022-2030

The Global Power Electronics Market size is estimated to be USD 43.63 billion in 2019 and is predicted to reach USD 109.22 billion by 2030 with a CAGR of 11.9% from 2020-2030.

Power Electronics is a circuit which controls the power into electricity from the source in convenient and efficient manner. These circuits consist of various electrical components such as diodes, transmitter, transistors and others. These circuits are used in various consumer electronics to increase its efficiency and also enhance the energy conservation. Power electronics have unidirectional and bidirectional flow of energy as per the usage.

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Top Companies: Mitsubishi Electric Corp., Infineon Technologies AG, Toshiba Corporation, STMicroelectronics, ABB Group, Rockwell Automation, Inc., Renesas Electronics Corporation, Fuji Electric Co. Ltd., Texas Instruments, Inc. and Microsemi Corporation and others.

Market Dynamics and Trends

The constant modernization and improvement in the infrastructure and technological advancements are expected to enhance the market growth. Furthermore, increased use of power electronics coupled with increased demand of consumer electronics are also expected to fuel the growth of power electronics market.

The other factors include increased demand of power management coupled with wide applications with optimized power loss are also expected to promote the market growth. However, high deployment cost and current leakage at high temperature are expected to inhibit the growth of power electronics market. Furthermore, increased use of smart grid and power saving devices with high voltage are further expected to create ample opportunities in the power electronics market over the forecast period.

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Market Segmentations and Scope of the Study:

The global power electronics market share is analyzed on the basis of device, type, application and geography. On the basis of device, the market is segmented into Power Diodes, Metal-Oxide-Semiconductor Field-Effect Transistor (MOSFET), Bipolar-Junction Transistor (BJT), Insulated-Gate Bipolar Transistor (IGBT) and Thyristor (SCR, GTO, and MCT). Based on type, the market is fragmented into Power IC, Power Module, and Power Discrete. On the basis of application, the market is divided into Consumer Electronics, Energy & Power, Industrial System, Inverter & UPS, Industrial System, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to account for the major market share over the forecast period with moderate growth owing to the increased adoption of power electronics. Moreover, increase in technological advancement and presence of developed infrastructure is further expected to support the growth of power electronics market.

Asia Pacific is expected to show rapid growth with consistent development in market share owing to the increased demand of consumer electronics. Furthermore, wide applications and increased demand of power conservation with increased use of renewable sources of energy are also expected to drive the growth of power electronics market.

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