Power Electronics Market to Grow by USD 10.67 Billion from 2023-2028, Report on AI-Powered Market Evolution - Technavio
NEW YORK, Dec. 12, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global power electronics market size is estimated to grow by USD 10.67 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 5.92% during the forecast period. The report provides a comprehensive forecast of key segments below-
Segmentation Overview
- 1.1 Discrete
- 1.2 Module
- 2.1 Silicon
- 2.2 Silicon carbide
- 2.3 Gallium nitride
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and Africa
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1.1 Fastest growing segment:
The power electronics industry plays a pivotal role in power conversion for various applications, from consumer electronics to industrial systems. Single chip and System-on-Chips (SoCs) integrated with power electronics enable efficient power consumption in Silicon-based devices and Wide Bandgap (WBG) devices like SiC. Power electronics are integral to wearables, sensors, IoT devices, mobile phones, and handheld electronics, facilitating DC-to-DC conversion for battery charging and voltage scaling. In renewable energy, power electronics are crucial for power generation from sources like photovoltaics and wind turbines, ensuring efficient electrical energy consumption. Power transmission and distribution systems, including power plants and power grids, rely on power electronics for efficient power conversion and distribution. Industrial appliances, server power supplies, and motor drives also benefit from power semiconductors, reducing carbon footprint and enhancing performance. Telecom infrastructure and electric motor drives in industrial robots further expand the application scope of power electronics. ON Semiconductor and other leading companies continue to innovate in this field, pushing the boundaries of power conversion technology.
Analyst Review
The Power Electronics Market encompasses the design, manufacturing, and application of various electronic components and systems in numerous industries. Key technologies include diodes, thyristors, and advanced materials such as silicon, silicon carbide, and gallium nitride. The market spans various sectors, including automotive and transportation, renewable energy, consumer electronics, defense and aerospace, and healthcare. Applications range from electric vehicles (EVs) and portable devices to power transmission and generation in renewable energy sources like photovoltaics and wind turbines. The power electronics industry plays a crucial role in electrical energy consumption and power generation, contributing significantly to the efficiency and reliability of modern systems.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
11.1 Semiconductor Components Industries, LLC
11.2 ABB
11.3 Infineon Technologies AG
11.4 Texas instruments Inc
11.5 ROHM Co. Ltd
11.6 STMicroelectronics NV
11.7 Renesas electronic corporation
11.8 Vishay Intertechnologies Inc
11.9 Toshiba Corporation
11.10 Mitsubishi Electric Corporation
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio