Global Power Electronics Market By Device, (Power Diodes, MOSFET, BJT, IGBT, Thyristor), By Type, (Power IC, Power Modules, Power Discrete), Estimation & Forecast, 2016 - 2024

October 2017

 Pages: 154

 ERC 6158

Power Electronics Market was valued at $14.89 billion in 2016, and is projected to reach $29.72 billion by 2024, having a CAGR of 9.1% during the forecast period of 2017 to 2024.

Power electronics is a branch of electronics which deals with the controlling and conversion of electric power by the application of various semiconductor devices. The devices regulate the flow of electrical energy while transforming it from one form to another. Power electronics has a wide array of industrial and domestic applications. The key players active in the power electronics market have tremendous opportunities in the numerous industries such as power supply industries, aerospace, power system industries, and automobiles. Stress and sensitive analysis are the major circuit analysis applications that demand the use of power electronics in the aerospace and automobile industry.

Power Electronics Market Determinants

The growth of global power electronics market is majorly driven by the surge in demand for electric vehicles. In 2016, a stock of 2 million electric cars was recorded by the International Energy Agency. The rising need for power management devices has led to the launch of power handling devices with improved efficiency, which in turn is fuelling the growth of the market. However, the manufacturing of power electronics devices is facing various complexity issues and leakage of current at high temperatures. This is anticipated to hinder the market growth. Since 2010, as per the U.S. Department of Energy, approximately $9 billion public and private investments have been made within the smart grid deployment. Such government initiatives are expected to offer humongous opportunities to the market players during the upcoming years.

Power Electronics Market Determinants – Impact Analysis, 2016-2024



Power Electronics Market Segment Analysis

The global power electronics market is segmented by device, type, application, and region. By device it is further segmented as Power Diodes, MOSFET, BJT, IGBT, and Thyristor. On the basis of type, the global power electronics market is segmented into Power IC, Power Modules, and Power Discrete. Application-wise, it is further divided into Application, Consumer Electronics, Energy & Power, Industrial System, Inverter & UPS, Automotive, and Others. Geographically, global power electronics market is segmented as North America, Europe, Asia-Pacific, and Rest of the world. Asia-Pacific is one of the prominent market of power electronics and is anticipated to flourish during the upcoming years as well. As per the Semiconductor Industry Association, the Asia Pacific semiconductor market has quadrupled in size.

Global Power Electronics Market, by Application, 2016-2024



Moreover, the automotive sector is expected to grow at a CAGR of 10.7% from 2017 to 2024, owing to the rapidly evolving electric vehicle market.

Market leaders within power electronics industry are leveraging advantages of growing applications various sectors. Automotive application is one of the prime and growing application of power electronics devices. New product innovation and technological advancement are key strategies adopted by market players to establish strong foothold within market. Major players of the global power electronics market are ABB Group, Fuji Electric Co, Ltd., Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corp., Rockwell Automation Inc., STMicroelectronics N.V., Renesas Electronics Corporation, Texas Instruments Inc., and Toshiba Corporation.

POWER ELECTRONICS MARKET SEGMENTATION

By Device
   • Power Diodes
   • MOSFET
   • BJT
   • IGBT
   • Thyristor

By Type
   • Power IC
   • Power Modules
   • Power Discrete

By Application
   • Consumer Electronics
   • Energy & Power
   • Industrial System
   • Inverter & UPS
   • Automotive
   • Others (Medical Devices & Traction)

By Geography
   • North America
   • Europe
   • APAC
   • Rest of the World

POWER ELECTRONICS MARKET KEY PLAYERS

   • ABB Group
   • Fuji Electric Co, Ltd.
   • Infineon Technologies AG
   • Microsemi Corporation
   • Mitsubishi Electric Corp.
   • Renesas Electronics Corporation
   • Rockwell Automation Inc.
   • Stmicroelectronics N.V.
   • Texas Instruments Inc.
   • Toshiba Corporation

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