Power Electronics Market Report
RA00385
Power Electronics Market, by Device Type (Power Module, Power IC, and Power Discrete), Material (Gallium Nitride, Sapphire, Silicon Carbide, and Other), Application (Renewable, UPS, Power Management, and Others), End User (Military & Defense, Industrial, Automotive, Energy & Power, Consumer Electronics, Telecommunication, and Other), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027
Power Electronics Market Analysis:
Power electronics refers to an electronic device which transfers energy from an initial point to a load in a robust, efficient, and compact way in order to ensure utmost and optimum utilization. Power electronics can also be called a branch of research that includes analysis, designing, and study of multiple circuits that are capable of electrical energy conversion from one form to another. Power electronics facilitate energy management in order to enhance power conservation for various applications. These power devices are utilized to control and manage the conversion of electric energy using thyristors, diodes, and transistors from one form to another. Power electronics facilitate faster switching rates at extremely high efficiency when operations at high current or voltage are encountered or executed. Further, power electronics are capable of controlling both bidirectional and unidirectional flow of power as per the user requirement. All these factors and benefits are directly increasing the demand for power electronics and helping the market to grow.
Growing focus on renewable power sources, increasing consumption of consumer electronics, and growing investments for electricity infrastructure are major factors driving market growth
A growing focus by governments across the globe to invest and enhance the renewable source of power are positively impacting the growth of the power electronics market. There has been a major surge in the installation of technology and infrastructural development that is required to harvest renewable sources of energy. These infrastructural facilities include solar energy sources, wind energy sources, hydro energy sources, and gas energy sources. Growing focus on renewable sources owing to the rising cost of non-renewable sources, increasing prices, and growing environmental concerns have caused a positive shift. All these facilities are growing majorly across the globe and simultaneously increasing the demand for power electronic devices and driving the market growth. Further, massively increasing consumption of consumer electronics globally owing to a rise in consumer spending power is facilitating the market growth. For instance, smartphone users globally have increased exponentially over the past decade, and such devices require various units of switching devices that are capable of converting AC to DC power. Also, rising government and private player investments to increase electricity reach in remote areas and enhanced prevailing power infrastructure is fueling the power electronics market growth.
Complex integration processes and high costs to hamper the market growth
Power electronics require complex integration processes which usually comprise of advanced electronic devices. The process of designing such a complex device requires strong skillsets, tools for integration, and methodology, which will add extra costs and lead to a rise in prices of power electronics. These high costs severely impact the market growth and reduce the adoption of power electronics.
Rising utilization in the automotive sector and growing usage in SiC & GaN products to create lucrative market opportunities
The global automotive sector is going through revolutionary technological advancements and one of the major innovations is electric vehicles. There has been a major rise by automotive manufacturers in the production of electric vehicles in order to reduce carbon emissions generated from automobiles. Rising government standards and growing popularity amongst the general public is also increasing the demand for electric vehicles. The sudden rise in the demand for plug-in vehicles has created a major opportunity for the power electronics market as these vehicles run on power. Owing to these factors, the demand for power electronics from the automotive sector has created a major growth opportunity for the market. Furthermore, the growing usage of Sic and GaN products for multiple applications with increasing industrialization has also created lucrative market opportunities.
Power Electronics Market, by Device Type:
Power module segment to be most lucrative till 2027
The power module segment will have a dominating share in the global market and is expected to register a significant revenue during the forecasted timeframe. Increased adoption of HEV/EV, growing awareness about renewable energy sources, rising number of charging stations, increasing electrification in the automotive sector, and rising usage in intelligent modules in consumer electronics driving the market growth. Furthermore, growing applications in various industries such as hybrid-power solutions for construction, agriculture, commercial vehicles, solar energy systems, UPS, are also propelling the market growth.
Power Electronics Market, by Material:
Silicon Carbide (SiC) segment to register maximum growth
The silicon carbide segment is anticipated to register maximum growth in the power electronics market during the forecast period. The growing utilization of silicon carbide devices by OEMs for the manufacturing of hybrid vehicles is driving the segment’s growth. Further, the growing utilization of silicon carbide in EV inverters for increased efficiency and reduced carbon footprint is driving the market growth. Silicon carbide devices provide greater reliability, reduced size, high operating temperature, high voltage capabilities, and increased efficiency. These benefits make SiC components highly preferred material for multiple applications like electrified automobile systems, UPS, charging infrastructures, and renewable energy generation majorly for photovoltaics.
Power Electronics Market, by Application:
A renewable segment to grow exponentially
The renewable segment is expected to grow exponentially in the power electronics market during the forecasted timeframe. A growing focus by governments across the globe to reduce carbon footprint and reliability on non-renewable sources of energy is driving the renewable segment’s growth. Increasing investments by private and public organizations toward infrastructural development for harvesting renewable sources of energy such as wind, solar, hydro, and others have massively increased. Rising activities in the sector of renewable energy have led to a growing demand for power electronics which is boosting the market growth.
Power Electronics Market, by End User:
Automotive sector to grow at a fast pace
The automotive sector is anticipated to grow at a fast pace in the power electronics market during the forecast period. Growing utilization of power electronics in hybrid electronic vehicles (HEV) and electronic vehicles (EV) for increased efficiency and reliability is propelling the market growth. Growing focus on reducing carbon footprint and stringent government norms are motivating consumers to opt for electric vehicles and causing a significant rise in the demand. The growing production of HEV/EV is increasing the utilization of power electronics and further propelling the market growth.
Power Electronics Market, by Region:
Asia-Pacific market to grow significantly and hold the largest market share
The Asia-Pacific region is expected to grow significantly and hold the largest market share in the power electronics market during the forecasted timeframe. Growing consumer spending power has led to a massive rise in the purchasing of consumer electronics, which is one of the major factors driving the market growth. Further, rising industrialization, major presence of automotive manufacturers, and growing investments in the power sector are also propelling the market growth. In addition, increased focus by countries like India, China, South Korea, and Japan on harvesting solar energy sources is creating huge growth opportunities for the market.
Key Participants in the Global Power Electronics Market:
Merger & acquisition and advanced product development are the frequent strategies followed by the market players
Source: Research Dive Analysis
Some of the significant power electronics market players include Texas Instruments Incorporated., Microsemi Technology Inc., ABB, Infineon Technologies AG, Rockwell Automation, Inc., Mitsubishi Electric Corporation, Fuji Electric Co., Ltd., Renesas Electronics Corporation., STMicroelectronics, and TOSHIBA CORPORATION.
Power electronics market players are emphasizing more on mergers & acquisitions and advanced product developments. These are the various strategies followed by established organizations. To emphasize more on the competitor analysis of market players, Porter’s five forces model is explained in the report.
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Aspect |
Particulars |
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Historical Market Estimations |
2018-2019 |
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Base Year for Market Estimation |
2018 |
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Forecast timeline for Market Projection |
2020-2027 |
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Geographical Scope |
North America, Europe, Asia-Pacific, LAMEA |
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Segmentation by Device Type |
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Segmentation by Material |
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Segmentation by Application |
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Segmentation by End User |
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Key Countries Covered |
U.S., Canada, Germany, France, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia |
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Key Companies Profiled |
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Q1. Which are the leading companies in the power electronics market?
A. Mitsubishi Electric Corporation, ABB, and Rockwell Automation, Inc. are the leading companies in the power electronics market.
Q2. Which region possesses greater investment opportunities in the coming future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q3. What are the strategies opted by the leading players in this market?
A. Technological advancements, product development, along with joint ventures are the key strategies opted by the operating companies in this market.
Q4. Which companies are investing more in R&D practices?
A. Texas Instruments Incorporated. and TOSHIBA CORPORATION are investing more in R&D practices.
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1. RESEARCH METHODOLOGY
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
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2. REPORT SCOPE
2.1. Market definition
2.2. Key objectives of the study
2.3. Report overview
2.4. Market segmentation
2.5. Overview of the impact of COVID-19 on Global Power Electronics Market
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive rivalry intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Environmental
4.7. Impact of COVID-19 on Power Electronics Market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
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5. Power Electronics Market, By Application
5.1. Overview
5.2 Power Management
5.2.1 Definition, key trends, growth factors, and opportunities
5.2.2 Market size analysis, by region, 2020-2027
5.2.3 Market share analysis, by country, 2020-2027
5.3 UPS
5.3.1 Definition, key trends, growth factors, and opportunities
5.3.2 Market size analysis, by region, 2020-2027
5.3.3 Market share analysis, by country, 2020-2027
5.4 Renewable
5.4.1 Definition, key trends, growth factors, and opportunities
5.4.2 Market size analysis, by region, 2020-2027
5.4.3 Market share analysis, by country, 2020-2027
5.5 Other
5.5.1 Definition, key trends, growth factors, and opportunities
5.5.2 Market size analysis, by region, 2020-2027
5.5.3 Market share analysis, by country, 2020-2027
5.6 Research Dive Exclusive Insights
5.6.1 Market attractiveness
5.6.2 Competition heatmap
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6. Power Electronics Market, By End User
6.1. Overview
6.2 Telecommunication
6.2.1 Definition, key trends, growth factors, and opportunities
6.2.2 Market size analysis, by region, 2020-2027
6.2.3 Market share analysis, by country, 2020-2027
6.3 Industrial
6.3.1 Definition, key trends, growth factors, and opportunities
6.3.2 Market size analysis, by region, 2020-2027
6.3.3 Market share analysis, by country, 2020-2027
6.4 Automotive
6.4.1 Definition, key trends, growth factors, and opportunities
6.4.2 Market size analysis, by region, 2020-2027
6.4.3 Market share analysis, by country, 2020-2027
6.5 Consumer electronics
6.5.1 Definition, key trends, growth factors, and opportunities
6.5.2 Market size analysis, by region, 2020-2027
6.5.3 Market share analysis, by country, 2020-2027
6.6 Military & defense
6.6.1 Definition, key trends, growth factors, and opportunities
6.6.2 Market size analysis, by region, 2020-2027
6.6.3 Market share analysis, by country, 2020-2027
6.7 Energy & Power
6.7.1 Definition, key trends, growth factors, and opportunities
6.7.2 Market size analysis, by region, 2020-2027
6.7.3 Market share analysis, by country, 2020-2027
6.8 Others
6.8.1 Definition, key trends, growth factors, and opportunities
6.8.2 Market size analysis, by region, 2020-2027
6.8.3 Market share analysis, by country, 2020-2027
6.9 Research Dive Exclusive Insights
6.9.1 Market attractiveness
6.9.2 Competition heatmap
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7. Power Electronics Market, By Device Type
7.1. Overview
7.2 Power Discrete
7.2.1 Definition, key trends, growth factors, and opportunities
7.2.2 Market size analysis, by region, 2020-2027
7.2.3 Market share analysis, by country, 2020-2027
7.3 Power Module
7.3.1 Definition, key trends, growth factors, and opportunities
7.3.2 Market size analysis, by region, 2020-2027
7.3.3 Market share analysis, by country, 2020-2027
7.4 Power IC
7.4.1 Definition, key trends, growth factors, and opportunities
7.4.2 Market size analysis, by region, 2020-2027
7.4.3 Market share analysis, by country, 2020-2027
7.5 Research Dive Exclusive Insights
7.5.1 Market attractiveness
7.5.2 Competition heatmap
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8. Power Electronics Market, By Material
8.1. Overview
8.2 Silicon Carbide
8.2.1 Definition, key trends, growth factors, and opportunities
8.2.2 Market size analysis, by region, 2020-2027
8.2.3 Market share analysis, by country, 2020-2027
8.3 Gallium Nitride
8.3.1 Definition, key trends, growth factors, and opportunities
8.3.2 Market size analysis, by region, 2020-2027
8.3.3 Market share analysis, by country, 2020-2027
8.4 Sapphire
8.4.1 Definition, key trends, growth factors, and opportunities
8.4.2 Market size analysis, by region, 2020-2027
8.4.3 Market share analysis, by country, 2020-2027
8.5 Others
8.5.1 Definition, key trends, growth factors, and opportunities
8.5.2 Market size analysis, by region, 2020-2027
8.5.3 Market share analysis, by country, 2020-2027
8.6 Research Dive Exclusive Insights
8.6.1 Market attractiveness
8.6.2 Competition heatmap
9. Power Electronics Market, By Region
9.1 North America
9.1.1 U.S
9.1.1.1 Market size analysis, By Application, 2020-2027
9.1.1.2 Market size analysis, By End User, 2020-2027
9.1.1.3 Market size analysis, By Device Type, 2020-2027
9.1.1.4 Market size analysis, By Material, 2020-2027
9.1.2 Canada
9.1.2.1 Market size analysis, By Application, 2020-2027
9.1.2.2 Market size analysis, By End User, 2020-2027
9.1.2.3 Market size analysis, By Device Type, 2020-2027
9.1.2.4 Market size analysis, By Material, 2020-2027
9.1.3 Mexico
9.1.3.1 Market size analysis, By Application, 2020-2027
9.1.3.2 Market size analysis, By End User, 2020-2027
9.1.3.3 Market size analysis, By Device Type, 2020-2027
9.1.3.4 Market size analysis, By Material, 2020-2027
9.1.4 Research Dive Exclusive Insights
9.1.4.1 Market attractiveness
9.1.4.2 Competition heatmap
9.2 Europe
9.2.1 Germany
9.2.1.1 Market size analysis, By Application, 2020-2027
9.2.1.2 Market size analysis, By End User, 2020-2027
9.2.1.3 Market size analysis, By Device Type, 2020-2027
9.2.1.4 Market size analysis, By Material, 2020-2027
9.2.2 UK
9.2.2.1 Market size analysis, By Application, 2020-2027
9.2.2.2 Market size analysis, By End User, 2020-2027
9.2.2.3 Market size analysis, By Device Type, 2020-2027
9.2.2.4 Market size analysis, By Material, 2020-2027
9.2.3 France
9.2.3.1 Market size analysis, By Application, 2020-2027
9.2.3.2 Market size analysis, By End User, 2020-2027
9.2.3.3 Market size analysis, By Device Type, 2020-2027
9.2.3.4 Market size analysis, By Material, 2020-2027
9.2.4 Spain
9.2.4.1 Market size analysis, By Application, 2020-2027
9.2.4.2 Market size analysis, By End User, 2020-2027
9.2.4.3 Market size analysis, By Device Type, 2020-2027
9.2.4.4 Market size analysis, By Material, 2020-2027
9.2.5 Italy
9.2.5.1 Market size analysis, By Application, 2020-2027
9.2.5.2 Market size analysis, By End User, 2020-2027
9.2.5.3 Market size analysis, By Device Type, 2020-2027
9.2.5.4 Market size analysis, By Material, 2020-2027
9.2.6 Rest of Europe
9.2.6.1 Market size analysis, By Application, 2020-2027
9.2.6.2 Market size analysis, By End User, 2020-2027
9.2.6.3 Market size analysis, By Device Type, 2020-2027
9.2.6.4 Market size analysis, By Material, 2020-2027
9.2.7 Research Dive Exclusive Insights
9.2.7.1 Market attractiveness
9.2.7.2 Competition heatmap
9.3 Asia-Pacific
9.3.1 China
9.3.1.1 Market size analysis, By Application, 2020-2027
9.3.1.2 Market size analysis, By End User, 2020-2027
9.3.1.3 Market size analysis, By Device Type, 2020-2027
9.3.1.4 Market size analysis, By Material, 2020-2027
9.3.2 Japan
9.3.2.1 Market size analysis, By Application, 2020-2027
9.3.2.2 Market size analysis, By End User, 2020-2027
9.3.2.3 Market size analysis, By Device Type, 2020-2027
9.3.2.4 Market size analysis, By Material, 2020-2027
9.3.3 India
9.3.3.1 Market size analysis, By Application, 2020-2027
9.3.3.2 Market size analysis, By End User, 2020-2027
9.3.3.3 Market size analysis, By Device Type, 2020-2027
9.3.3.4 Market size analysis, By Material, 2020-2027
9.3.4 Australia
9.3.4.1 Market size analysis, By Application, 2020-2027
9.3.4.2 Market size analysis, By End User, 2020-2027
9.3.4.3 Market size analysis, By Device Type, 2020-2027
9.3.4.4 Market size analysis, By Material, 2020-2027
9.3.5 South Korea
9.3.5.1 Market size analysis, By Application, 2020-2027
9.3.5.2 Market size analysis, By End User, 2020-2027
9.3.5.3 Market size analysis, By Device Type, 2020-2027
9.3.5.4 Market size analysis, By Material, 2020-2027
9.3.6 Rest of Asia-Pacific
9.3.6.1 Market size analysis, By Application, 2020-2027
9.3.6.2 Market size analysis, By End User, 2020-2027
9.3.6.3 Market size analysis, By Device Type, 2020-2027
9.3.6.4 Market size analysis, By Material, 2020-2027
9.3.7 Research Dive Exclusive Insights
9.3.7.1 Market attractiveness
9.3.7.2 Competition heatmap
9.4 LAMEA
9.4.1 Brazil
9.4.1.1 Market size analysis, By Application, 2020-2027
9.4.1.2 Market size analysis, By End User, 2020-2027
9.4.1.3 Market size analysis, By Device Type, 2020-2027
9.4.1.4 Market size analysis, By Material, 2020-2027
9.4.2 Saudi Arabia
9.4.2.1 Market size analysis, By Application, 2020-2027
9.4.2.2 Market size analysis, By End User, 2020-2027
9.4.2.3 Market size analysis, By Device Type, 2020-2027
9.4.2.4 Market size analysis, By Material, 2020-2027
9.4.3 UAE
9.4.3.1 Market size analysis, By Application, 2020-2027
9.4.3.2 Market size analysis, By End User, 2020-2027
9.4.3.3 Market size analysis, By Device Type, 2020-2027
9.4.3.4 Market size analysis, By Material, 2020-2027
9.4.4 South Africa
9.4.4.1 Market size analysis, By Application, 2020-2027
9.4.4.2 Market size analysis, By End User, 2020-2027
9.4.4.3 Market size analysis, By Device Type, 2020-2027
9.4.4.4 Market size analysis, By Material, 2020-2027
9.4.5 Rest of LAMEA
9.4.5.1 Market size analysis, By Application, 2020-2027
9.4.5.2 Market size analysis, By End User, 2020-2027
9.4.5.3 Market size analysis, By Device Type, 2020-2027
9.4.5.4 Market size analysis, By Material, 2020-2027
9.4.6 Research Dive Exclusive Insights
9.4.6.1 Market attractiveness
9.4.6.2 Competition heatmap
10. Competitive Landscape
10.1 Top winning strategies, 2020-2027
10.1.1 By strategy
10.1.2 By year
10.2 Strategic overview
10.3 Market share analysis, 2020-2027
11. Company Profiles
11.1 ABB Group
11.1.1 Overview
11.1.2 Business segments
11.1.3 Product portfolio
11.1.4 Financial performance
11.1.5 Recent developments
11.1.6 SWOT analysis
11.2 Fuji Electric Co, LTD
11.2.1 Overview
11.2.2 Business segments
11.2.3 Product portfolio
11.2.4 Financial performance
11.2.5 Recent developments
11.2.6 SWOT analysis
11.3 Infineon Technologies AG
11.3.1 Overview
11.3.2 Business segments
11.3.3 Product portfolio
11.3.4 Financial performance
11.3.5 Recent developments
11.3.6 SWOT analysis
11.4 Microsemi Corporation
11.4.1 Overview
11.4.2 Business segments
11.4.3 Product portfolio
11.4.4 Financial performance
11.4.5 Recent developments
11.4.6 SWOT analysis
11.5 Mitsubishi
11.5.1 Overview
11.5.2 Business segments
11.5.3 Product portfolio
11.5.4 Financial performance
11.5.5 Recent developments
11.5.6 SWOT analysis
11.6 Renesas Electronics Corporation
11.6.1 Overview
11.6.2 Business segments
11.6.3 Product portfolio
11.6.4 Financial performance
11.6.5 Recent developments
11.6.6 SWOT analysis
11.7 Rockwell Automation
11.7.1 Overview
11.7.2 Business segments
11.7.3 Product portfolio
11.7.4 Financial performance
11.7.5 Recent developments
11.7.6 SWOT analysis
11.8 STMicroelectronics
11.8.1 Overview
11.8.2 Business segments
11.8.3 Product portfolio
11.8.4 Financial performance
11.8.5 Recent developments
11.8.6 SWOT analysis
11.9 Texas Instruments Incorporated
11.9.1 Overview
11.9.2 Business segments
11.9.3 Product portfolio
11.9.4 Financial performance
11.9.5 Recent developments
11.9.6 SWOT analysis
11.10 Toshiba Corporation
11.10.1 Overview
11.10.2 Business segments
11.10.3 Product portfolio
11.10.4 Financial performance
11.10.5 Recent developments
11.10.6 SWOT analysis
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