About Power Electronics -
Power Electronics refers to the process of controlling the flow of current, voltage and converting it to a form that is suitable for user loads. The main objective of power electronics is to transform and regulate electrical energy between different forms. Power electronics widely used in motor control system such as industrial automation, robotics and power generation systems. Given the accelerated expansion of renewable energy sources, electric vehicles, and smart grid technology is the major driver for power electronics.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 5.7% |
Power Electronics is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet the needs. Thus, constantly introducing new innovation in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Power Electronics - market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
STMicroelectronics (Switzerland), Mitsubishi Electric Corporation (Japan), Microsemi Corporation (United States), Rockwell Automation (United States), Toshiba Corporation (Japan), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), ABB Group (Switzerland), On Semiconductor (United States), Siemens AG (Germany), Danfoss Group (Denmark) and NXP Semiconductors (Netherland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Sumco (Japan), Siltronic (Germany), Fuji Electric Co. (Japan), Texas Instrument Incorporated (United States), ROHM Co. Ltd. (Japan) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Power Electronics - market by , Application (Hybrid Electric Vehicles, Ships, Construction Machinery, Cement Mills, Solar System, Aircraft, Satellites, HVDC transmission, UPS, Vaccum Cleaners, Computers and Others) and Region.
On the basis of geography, the market of Power Electronics - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Voltage, the sub-segment i.e. Low will boost the Power Electronics - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Silicon Carbide will boost the Power Electronics - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Consumer Electronics will boost the Power Electronics - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connector Types, the sub-segment i.e. Diode Rectifiers will boost the Power Electronics - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement of smart grid technology in power electronics., Miniaturization and integration. and Artificial Intelligence and machine learning.
Market Growth Drivers:
Increased adoption of renewable energy., Increasing demand for electric vehicles. and Increase the efficiency of renewable energy systems
Challenges:
The stringent electromagnetic compatibility. and Thermal management in power electronics.
Restraints:
The high cost of SiC based power electronics. and Lack of standardization.
Opportunities:
Innovation in power metal oxide semiconductor field effect transistor. and Fostering innovation and sustainability.
Market Leaders and their expansionary development strategies
In November 2023, Power Electronics announced the launch of the new low voltage V6 soft starter, showcasing its constant commitment to innovation and excellence. These devices are designated to provide precise energy control, optimized performance, and extended equipment life cycle, addressing the key demands of the industrial sector.
In May 2023, Infineon launched EU projects for power electronics and AI. The ALL2GaN project is about easily integrated energy saving chips made of gallium nitride. They have the potential to improve energy efficiently by 30% in a wide range of application and thus save an extrapolated 218millions tons of CO2 worldwide.
Key Target Audience
Power Electronic Provider, Research and Development, Investor, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.