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Global Power Electronics Market by Device Type (Power Discrete, Power Module, Power IC), Material (Si, SiC, GaN), Voltage (Low, Medium, High), Vertical (ICT, Consumer Electronics, Industrial, Automotive, Aerospace) and Geography - Forecast to 2028

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    Report

  • 278 Pages
  • December 2023
  • Region: Global
  • Markets and Markets
  • ID: 5118521
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Increased Demand for Power Electronics from Automotive & Transportation and Consumer Electronics Verticals to Drive the Market

The global power electronics market was valued at USD 46.2 billion in 2023 to USD 61 billion by 2028; it is expected to grow at a CAGR of 5.7% from 2023 to 2028. The integration of power electronics into automotive and transportation systems is essential for optimizing energy efficiency, reducing emissions, and advancing the overall performance and capabilities of modern vehicles. The growing emphasis on energy efficiency and conservation prompts industries to adopt power electronics solutions that optimize energy usage, reduce losses, and enhance overall system performance. Key players operating in the Power Electronics Market are Infineon Technologies AG (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric Corporation (Japan), and Vishay Intertechnology, Inc. (US).

The power modules device type is projected to grow at the highest CAGR during the forecast period

Power modules find widespread application in power conversion for motor drives, uninterruptible power supplies (UPS), and AC-DC power supplies. Their significant usage extends to renewable energy sources like wind turbines and solar panels, as well as the electric vehicle sector. Power modules play a pivotal role in elevating system performance and energy efficiency by offering enhanced power density, increased system ruggedness, and reliability. The surge in demand for power modules is propelled by the escalating requirements for high power efficiency across various applications. Factors such as the rising adoption of electric vehicles, increasing deployment of renewable energy sources, establishment of charging stations, industrial growth, and a growing market for consumer appliances collectively contribute to the growth of this segment.

SiC and GaN-based power electronics are projected to have higher growth during the forecast period

The markets for SiC- and GaN-based power electronics devices are projected to experience substantial growth. The primary driver is the increasing demand from automotive manufacturers who are adopting SiC-based devices for the production of electric and hybrid vehicles. SiC-based devices find application in inverters, enhancing their efficiency. Additionally, SiC-based power electronics solutions offer heightened reliability, greater efficiency, elevated operating temperature capacity, compact size, and increased voltage capabilities compared to Si-based counterparts. Consequently, SiC-based technology is utilized in various sectors, including photovoltaics, charging infrastructure, and uninterruptible power supply (UPS). The deployment of 5G networking in communications is also expected to contribute to the future growth of SiC. Furthermore, advancements in manufacturing technology are anticipated to pave the way for the high growth potential of low-cost GaN devices in the future.

Asia-Pacific region is likely to grow at the highest CAGR

The power electronics market in the Asia-Pacific region has experienced significant growth, driven by the influential presence of key market players that have fueled the regional market’s expansion. China, as a prominent country with a substantial manufacturing sector for diverse electronic products, has played a significant role in driving the growth of the power electronics market in the Asia-Pacific region. Electronic devices produced in China are equipped with power electronic components, further augmenting the expansion of the power electronics market in this region.

Breakdown of Primaries

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

  • By Company Type - Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
  • By Designation - C-level Executives - 35%, Manager - 40%, and Others - 25%
  • By Region - North America - 40%, Europe - 20%, Asia-Pacific - 30%, and RoW - 10%

The power electronics market is dominated by a few globally established players such as Infineon Technologies AG (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric Corporation (Japan), Vishay Intertechnology, Inc. (US), Fuji Electric Co., Ltd. (Japan), NXP Semiconductors (Netherlands), Renesas Electronics Corporation (Japan), Texas Instruments Incorporated (US), TOSHIBA CORPORATION (Japan). The study includes an in-depth competitive analysis of these key players in the power electronics market, with their company profiles, recent developments, and key market strategies.

Research Coverage

The report segments the power electronics market and forecasts its size by device type, material, voltage, vertical, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions - North America, Europe, Asia-Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the power electronics ecosystem.

Key Benefits to Buy the Report:

  • Analysis of Key Drivers (High adoption of renewable power sources, Rapid development of electric vehicles, huge demand for power electronics in consumer, enterprises, and automotive verticals). Restraints (Complex design and integration process). Opportunities (Wide bandgap semiconductors promoting new applications of power electronics, Growing investments by governments, private organizations, research institutes, and manufacturers to increase SiC production) and Challenges (Material defects and designing and packaging issues in SiC power devices).
  • Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the power electronics market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the power electronics market across varied regions
  • Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the power electronics market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Infineon Technologies AG (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric Corporation (Japan), Vishay Intertechnology, Inc. (US) among others in the power electronics market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Power Electronics Market: Segmentation
1.3.2 Regional Scope
1.3.3 Years Considered
1.3.4 Currency Considered
1.3.5 Units Considered
1.4 Limitations
1.5 Stakeholders
1.6 Summary of Changes
1.7 Impact of Recession
2 Research Methodology
2.1 Research Data
Figure 2 Power Electronics Market: Research Design
2.1.1 Secondary Data
2.1.1.1 List of Key Secondary Sources
2.1.1.2 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakdown of Primary Interviews
2.1.2.2 Primary Interview with Experts
2.1.2.3 List of Key Primary Interview Participants
2.1.2.4 Key Data from Primary Sources
2.1.2.5 Key Industry Insights
2.2 Secondary and Primary Research
Figure 3 Power Electronics Market: Research Approach
2.3 Factor Analysis
2.3.1 Supply-Side Analysis
Figure 4 Market Size Estimation Methodology: Approach (Supply-Side Analysis) - Revenue Generated by Companies from Sales of Power Electronic Products
2.4 Market Size Estimation
Figure 5 Market Size Estimation Methodology: Supply-Side Analysis
2.4.1 Bottom-Up Approach
2.4.1.1 Approach to Estimate Market Size Using Bottom-Up Analysis (Demand Side)
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
2.4.2 Top-Down Approach
2.4.2.1 Approach to Estimate Market Size Using Top-Down Analysis (Supply Side)
Figure 7 Market Size Estimation Methodology: Top-Down Approach
2.5 Data Triangulation
Figure 8 Data Triangulation
2.6 Research Assumptions and Limitations
2.6.1 Assumptions
2.6.2 Growth Projection and Forecast-Related Assumptions
Table 1 Power Electronics Market: Growth Assumptions
2.6.3 Limitations
2.7 Risk Assessment
Table 2 Power Electronics Market: Risk Assessment
2.8 Parameters Considered to Analyze Impact of Recession on Power Electronics Market
3 Executive Summary
Figure 9 Power Electronics Market, 2019-2028 (USD Billion)
Figure 10 Power Module Segment to Record Highest CAGR During Forecast Period
Figure 11 Silicon-based Power Electronics Segment to Account for Largest Market Share in 2028
Figure 12 Consumer Electronics Segment to Capture Largest Market Share in 2028
Figure 13 Power Electronics Market in Asia-Pacific to Exhibit Highest CAGR During Forecast Period
4 Premium Insights
4.1 Attractive Opportunities for Players in Power Electronics Market
Figure 14 Increased Demand for Power Electronics from Automotive & Transportation and Consumer Electronics Verticals to Drive Market
4.2 Power Electronics Market, by Device Type
Figure 15 Power Integrated Circuit (Ic) Segment to Hold Largest Market Share in 2028
4.3 Power Electronics Market, by Voltage Level
Figure 16 Low-Voltage Power Electronics Segment to Dominate Market in 2028
4.4 Power Electronics Market, by Material and Vertical
Figure 17 Silicon and Consumer Electronics Segments to Hold Largest Market Shares in 2023
4.5 Power Electronics Market, by Region
Figure 18 Asia-Pacific to Record Highest CAGR in Power Electronics Market During Forecast Period
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 19 Power Electronics Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Widespread Adoption of Renewable Power Sources
5.2.1.2 Rapid Development of Electric Vehicles
Figure 20 Battery Electric Vehicle Sales, 2020-2022
5.2.1.3 Growing Demand for Energy-Efficient Power Electronics in Consumer Electronics Industry and Enterprises
Figure 21 Impact of Drivers on Power Electronics Market
5.2.2 Restraint
5.2.2.1 High Cost of Designing and Complexities Associated with Integrating Multiple Functionalities into Single Chip
Figure 22 Impact of Restraints on Power Electronics Market
5.2.3 Opportunities
5.2.3.1 Emergence of Wide Bandgap Semiconductor Materials
5.2.3.2 Growing Adoption of Sic Power Switches Attributed to Substantial Government Investments in EV Charging Infrastructure
Figure 23 Impact of Opportunities on Power Electronics Market
5.2.4 Challenges
5.2.4.1 Difficulties in Designing and Packaging Sic Power Devices
Figure 24 Impact of Challenges on Power Electronics Market
5.3 Value Chain Analysis
Figure 25 Power Electronics Market: Value Chain Analysis
5.4 Ecosystem/Market Map
Figure 26 Key Players in Power Electronics Ecosystem
Table 3 Role of Participants in Power Electronics Ecosystem
5.4.1 Component Suppliers
5.4.2 Manufacturers
5.4.3 Distributors
5.4.4 OEMs
5.5 Trends/Disruptions Impacting Customers’ Businesses
Figure 27 Trends/Disruptions Impacting Customers’ Businesses
5.6 Technology Analysis
5.6.1 300 Mm Wafers
5.6.2 Sic and Gan Materials
5.7 Pricing Analysis
Figure 28 Average Selling Price Trend of Power Electronics, by Device Type, 2019-2028
Table 4 Indicative Price of Power Electronics Offered by Key Players, by Device Type, 2022
5.8 Case Study Analysis
5.8.1 Semipowerex Developed Optimized Sic Power Modules for Stable Operation at High Frequencies with Assistance from Unitedsic
5.8.2 Corsair Deployed Gan Fets by Transphorm to Offer High-Performance Power Supply Units
5.8.3 Delta Electronics Powered Data Centers with Gallium Nitride from Texas Instruments Incorporated
5.9 Patent Analysis
Table 5 List of Patents Pertaining to Power Electronics, 2020-2023
Figure 29 Number of Patents Granted Pertaining to Power Electronics, 2012-2022
5.10 Trade Analysis
5.10.1 Import Scenario
Figure 30 Import Data for HS Code 8541-Compliant Products for Key Countries, 2018-2022 (USD Million)
Table 6 Import Data for HS Code 8541-Compliant Products, by Country, 2018-2022 (USD Million)
5.10.2 Export Scenario
Figure 31 Export Data for HS Code 8541-Compliant Products for Key Countries, 2018-2022 (USD Million)
Table 7 Export Data for HS Code 8541-Compliant Products, by Country, 2018-2022 (USD Million)
5.11 Porter's Five Forces Analysis
Table 8 Power Electronics Market: Porter's Five Forces Analysis
Figure 32 Power Electronics Market: Porter's Five Forces Analysis
5.11.1 Intensity of Competitive Rivalry
5.11.2 Bargaining Power of Suppliers
5.11.3 Bargaining Power of Buyers
5.11.4 Threat of Substitutes
5.11.5 Threat of New Entrants
5.12 Key Stakeholders and Buying Criteria
5.12.1 Key Stakeholders in Buying Process
Figure 33 Influence of Stakeholders on Buying Process, by Vertical
Table 9 Influence of Stakeholders on Buying Process, by Vertical (%)
5.12.2 Buying Criteria
Figure 34 Key Buying Criteria, by Vertical
Table 10 Key Buying Criteria, by Vertical
5.13 Key Conferences and Events
Table 11 Power Electronics Market: List of Key Conferences and Events, 2023-2024
5.14 Tariff, Standard, and Regulatory Landscape
5.14.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 12 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 13 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 14 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.14.2 Standards
5.14.3 Tariff Analysis
Table 15 Tariff for HS Code 8541-Compliant Products Exported by US (2022)
Table 16 Tariff for HS Code 8541-Compliant Products Exported by Hong Kong (2022)
6 Power Electronics Market, by Device Type
6.1 Introduction
Figure 35 Power Module Segment to Register Highest CAGR During Forecast Period
Table 17 Power Electronics Market, by Device Type, 2019-2022 (USD Billion)
Table 18 Power Electronics Market, by Device Type, 2023-2028 (USD Billion)
6.2 Power Discrete
6.2.1 Increasing Demand for Power Discrete Devices with High-Frequency Switching to Enhance Efficiency in Various Applications to Fuel Segmental Growth
Table 19 Power Discrete: Power Electronics Market, by Type, 2019-2022 (USD Million)
Table 20 Power Discrete: Power Electronics Market, by Type, 2023-2028 (USD Million)
Table 21 Power Discrete: Power Electronics Market, by Device Type, 2019-2022 (Million Units)
Table 22 Power Discrete: Power Electronics Market, by Device Type, 2023-2028 (Million Units)
Table 23 Power Discrete: Power Electronics Market, by Vertical, 2019-2022 (USD Million)
Table 24 Power Discrete: Power Electronics Market, by Vertical, 2023-2028 (USD Million)
6.2.2 Diode
6.2.2.1 Mounting Type and Diode Packaging
6.2.2.1.1 Through-Hole
6.2.2.1.2 Surface Mount
6.2.2.1.3 Packaging Categories
6.2.2.2 Pin Diode
6.2.2.3 Zener Diode
6.2.2.4 Schottky Diode
6.2.2.5 Switching Diode
6.2.2.6 Rectifier Diode
6.2.3 Transistor
6.2.3.1 Use of Smart Power Transistors in Augmenting System Reliability and Effective Power Management to Propel Segment
Table 25 Power Discrete: Power Electronics Market for Transistor, by Type, 2019-2022 (USD Million)
Table 26 Power Discrete: Power Electronics Market for Transistor, by Type, 2023-2028 (USD Million)
6.2.3.2 Field-Effect Transistor (Fet)
6.2.3.3 Bipolar Junction Transistor (Bjt)
6.2.3.4 Insulated Gate Bipolar Transistor (Igbt)
6.2.3.4.1 Npt Igbt
6.2.3.4.2 Pt Igbt
6.2.4 Thyristor
6.3 Power Module
6.3.1 Significant Role in Ensuring Precise Control Over Speed of Electric Motors in Industrial Drives to Boost Segmental Growth
Table 27 Power Module: Power Electronics Market, by Vertical, 2019-2022 (USD Million)
Table 28 Power Module: Power Electronics Market, by Vertical, 2023-2028 (USD Million)
6.3.2 Power Module, by Device Type
6.3.2.1 Fet
6.3.2.1.1 Mosfet Module
6.3.2.1.1.1 Mosfet Module, by Type
6.3.2.1.1.1.1 N-Channel
6.3.2.1.1.1.2 P-Channel
6.3.2.1.1.2 Mosfet Module, by Mode
6.3.2.1.1.2.1 Depletion Mode
6.3.2.1.1.2.2 Enhancement Mode
6.3.2.2 Igbt
6.3.2.3 Other Power Module Device Types
Table 29 Power Module: Power Electronics Market, by Device Type, 2019-2022 (USD Million)
Table 30 Power Module: Power Electronics Market, by Device Type, 2023-2028 (USD Million)
6.3.3 Types of Power Modules
6.3.3.1 Intelligent Power Module
6.3.3.2 Standard and Power Integrated Module
6.4 Power Integrated Circuit
Table 31 Power Integrated Circuit: Power Electronics Market, by Vertical, 2019-2022 (USD Million)
Table 32 Power Integrated Circuit: Power Electronics Market, by Vertical, 2023-2028 (USD Million)
6.4.1 Power Management Integrated Circuit
6.4.2 Application-Specific Integrated Circuit
7 Materials Used in Power Electronic Devices
7.1 Introduction
Figure 36 Gan-based Power Electronics Segment to Register Highest CAGR During Forecast Period
Table 33 Power Electronics Market, by Material, 2019-2022 (USD Million)
Table 34 Power Electronics Market, by Material, 2023-2028 (USD Million)
7.2 Silicon
7.3 Silicon Carbide (Sic)
7.4 Gallium Nitride (Gan)
8 Voltage Levels of Different Power Electronic Devices
8.1 Introduction
Figure 37 Low-Voltage Power Electronics to Dominate Market in 2028
Table 35 Power Electronics Market, by Voltage Level, 2019-2022 (USD Billion)
Table 36 Power Electronics Market, by Voltage Level, 2023-2028 (USD Billion)
8.2 Low
8.3 Medium
8.4 High
9 Different Wafer Sizes Used in Power Electronics
9.1 Introduction
9.2 Up to 200 Mm
9.3 Above 200 Mm
10 Different Current Levels Available in Power Electronics
10.1 Introduction
10.2 Up to 25 A
10.3 26 to 40 A
10.4 Above 40 A
11 Applications of Power Electronics
11.1 Introduction
11.2 Power Management
11.3 Drives
11.4 Ups
11.5 Rail Traction
11.6 Transportation
11.7 Renewables
11.8 Other Applications
12 Power Electronics Market, by Vertical
12.1 Introduction
Figure 38 Automotive & Transportation Segment to Record Highest CAGR During Forecast Period
Table 37 Power Electronics Market, by Vertical, 2019-2022 (USD Billion)
Table 38 Power Electronics Market, by Vertical, 2023-2028 (USD Billion)
12.2 Ict
12.2.1 Rising Demand for Advanced Power Electronic Devices and Controlled Cooling for Data Centers and Ict Equipment to Drive Market
Table 39 Ict: Power Electronics Market, by Device Type, 2019-2022 (USD Million)
Table 40 Ict: Power Electronics Market, by Device Type, 2023-2028 (USD Million)
Table 41 Ict: Power Electronics Market, by Region, 2019-2022 (USD Million)
Table 42 Ict: Power Electronics Market, by Region, 2023-2028 (USD Million)
Table 43 Ict: Power Electronics Market in North America, by Country, 2019-2022 (USD Million)
Table 44 Ict: Power Electronics Market in North America, by Country, 2023-2028 (USD Million)
Table 45 Ict: Power Electronics Market in Europe, by Country, 2019-2022 (USD Million)
Table 46 Ict: Power Electronics Market in Europe, by Country, 2023-2028 (USD Million)
Table 47 Ict: Power Electronics Market in Asia-Pacific, by Country, 2019-2022 (USD Million)
Table 48 Ict: Power Electronics Market in Asia-Pacific, by Country, 2023-2028 (USD Million)
Table 49 Ict: Power Electronics Market in RoW, by Region, 2019-2022 (USD Million)
Table 50 Ict: Power Electronics Market in RoW, by Region, 2023-2028 (USD Million)
12.3 Consumer Electronics
12.3.1 Increasing Integration of Power Electronics into Wearables, IoT Devices, and Smart Home Devices to Propel Market
Table 51 Consumer Electronics: Power Electronics Market, by Device Type, 2019-2022 (USD Million)
Table 52 Consumer Electronics: Power Electronics Market, by Device Type, 2023-2028 (USD Million)
Table 53 Consumer Electronics: Power Electronics Market, by Region, 2019-2022 (USD Million)
Table 54 Consumer Electronics: Power Electronics Market, by Region, 2023-2028 (USD Million)
Table 55 Consumer Electronics: Power Electronics Market in North America, by Country, 2019-2022 (USD Million)
Table 56 Consumer Electronics: Power Electronics Market in North America, by Country, 2023-2028 (USD Million)
Table 57 Consumer Electronics: Power Electronics Market in Europe, by Country, 2019-2022 (USD Million)
Table 58 Consumer Electronics: Power Electronics Market in Europe, by Country, 2023-2028 (USD Million)
Table 59 Consumer Electronics: Power Electronics Market in Asia-Pacific, by Country, 2019-2022 (USD Million)
Table 60 Consumer Electronics: Power Electronics Market in Asia-Pacific, by Country, 2023-2028 (USD Million)
Table 61 Consumer Electronics: Power Electronics Market in RoW, by Region, 2019-2022 (USD Million)
Table 62 Consumer Electronics: Power Electronics Market in RoW, by Region, 2023-2028 (USD Million)
12.4 Industrial
12.4.1 Growing Adoption of Digital Control Systems and Advanced Algorithms in Power Electronics to Boost Market Growth
Table 63 Industrial: Power Electronics Market, by Device Type, 2019-2022 (USD Million)
Table 64 Industrial: Power Electronics Market, by Device Type, 2023-2028 (USD Million)
Table 65 Industrial: Power Electronics Market, by Region, 2019-2022 (USD Million)
Table 66 Industrial: Power Electronics Market, by Region, 2023-2028 (USD Million)
Table 67 Industrial: Power Electronics Market in North America, by Country, 2019-2022 (USD Million)
Table 68 Industrial: Power Electronics Market in North America, by Country, 2023-2028 (USD Million)
Table 69 Industrial: Power Electronics Market in Europe, by Country, 2019-2022 (USD Million)
Table 70 Industrial: Power Electronics Market in Europe, by Country, 2023-2028 (USD Million)
Table 71 Industrial: Power Electronics Market in Asia-Pacific, by Country, 2019-2022 (USD Million)
Table 72 Industrial: Power Electronics Market in Asia-Pacific, by Country, 2023-2028 (USD Million)
Table 73 Industrial: Power Electronics Market in RoW, by Region, 2019-2022 (USD Million)
Table 74 Industrial: Power Electronics Market in RoW, by Region, 2023-2028 (USD Million)
12.4.2 Energy & Power
12.4.2.1 Photovoltaics
12.4.2.2 Wind Turbines
12.5 Automotive & Transportation
12.5.1 Increasing Adoption of Fast-Charging Electric Vehicles to Contribute to Market Growth
Table 75 Automotive & Transportation: Power Electronics Market, by Device Type, 2019-2022 (USD Million)
Table 76 Automotive & Transportation: Power Electronics Market, by Device Type, 2023-2028 (USD Million)
Table 77 Automotive & Transportation: Power Electronics Market, by Region, 2019-2022 (USD Million)
Table 78 Automotive & Transportation: Power Electronics Market, by Region, 2023-2028 (USD Million)
Table 79 Automotive & Transportation: Power Electronics Market in North America, by Country, 2019-2022 (USD Million)
Table 80 Automotive & Transportation: Power Electronics Market in North America, by Country, 2023-2028 (USD Million)
Table 81 Automotive & Transportation: Power Electronics Market in Europe, by Country, 2019-2022 (USD Million)
Table 82 Automotive & Transportation: Power Electronics Market in Europe, by Country, 2023-2028 (USD Million)
Table 83 Automotive & Transportation: Power Electronics Market in Asia-Pacific, by Country, 2019-2022 (USD Million)
Table 84 Automotive & Transportation: Power Electronics Market in Asia-Pacific, by Country, 2023-2028 (USD Million)
Table 85 Automotive & Transportation: Power Electronics Market in RoW, by Region, 2019-2022 (USD Million)
Table 86 Automotive & Transportation: Power Electronics Market in RoW, by Region, 2023-2028 (USD Million)
12.5.1.1 Powertrain
12.5.1.2 Body and Convenience
12.5.1.3 Chassis and Safety Systems
12.5.1.4 Infotainment Systems
12.6 Aerospace & Defense
12.6.1 Growing Demand for Electric Aircraft and High-Frequency Warfare Systems to Fuel Market Growth
Table 87 Aerospace & Defense: Power Electronics Market, by Device Type, 2019-2022 (USD Million)
Table 88 Aerospace & Defense: Power Electronics Market, by Device Type, 2023-2028 (USD Million)
Table 89 Aerospace & Defense: Power Electronics Market, by Region, 2019-2022 (USD Million)
Table 90 Aerospace & Defense: Power Electronics Market, by Region, 2023-2028 (USD Million)
Table 91 Aerospace & Defense: Power Electronics Market in North America, by Country, 2019-2022 (USD Million)
Table 92 Aerospace & Defense: Power Electronics Market in North America, by Country, 2023-2028 (USD Million)
Table 93 Aerospace & Defense: Power Electronics Market in Europe, by Country, 2019-2022 (USD Million)
Table 94 Aerospace & Defense: Power Electronics Market in Europe, by Country, 2023-2028 (USD Million)
Table 95 Aerospace & Defense: Power Electronics Market in Asia-Pacific, by Country, 2019-2022 (USD Million)
Table 96 Aerospace & Defense: Power Electronics Market in Asia-Pacific, by Country, 2023-2028 (USD Million)
Table 97 Aerospace & Defense: Power Electronics Market in RoW, by Region, 2019-2022 (USD Million)
Table 98 Aerospace & Defense: Power Electronics Market in RoW, by Region, 2023-2028 (USD Million)
12.7 Other Verticals
Table 99 Other Verticals: Power Electronics Market, by Device Type, 2019-2022 (USD Million)
Table 100 Other Verticals: Power Electronics Market, by Device Type, 2023-2028 (USD Million)
Table 101 Other Verticals: Power Electronics Market, by Region, 2019-2022 (USD Million)
Table 102 Other Verticals: Power Electronics Market, by Region, 2023-2028 (USD Million)
Table 103 Other Verticals: Power Electronics Market in North America, by Country, 2019-2022 (USD Million)
Table 104 Other Verticals: Power Electronics Market in North America, by Country, 2023-2028 (USD Million)
Table 105 Other Verticals: Power Electronics Market in Europe, by Country, 2019-2022 (USD Million)
Table 106 Other Verticals: Power Electronics Market in Europe, by Country, 2023-2028 (USD Million)
Table 107 Other Verticals: Power Electronics Market in Asia-Pacific, by Country, 2019-2022 (USD Million)
Table 108 Other Verticals: Power Electronics Market in Asia-Pacific, by Country, 2023-2028 (USD Million)
Table 109 Other Verticals: Power Electronics Market in RoW, by Region, 2019-2022 (USD Million)
Table 110 Other Verticals: Power Electronics Market in RoW, by Region, 2023-2028 (USD Million)
13 Power Electronics Market, by Region
13.1 Introduction
Figure 39 Asia-Pacific to Lead Power Electronics Market During Forecast Period
Table 111 Power Electronics Market, by Region, 2019-2022 (USD Billion)
Table 112 Power Electronics Market, by Region, 2023-2028 (USD Billion)
13.2 North America
Figure 40 North America: Power Electronics Market Snapshot
Table 113 North America: Power Electronics Market, by Country, 2019-2022 (USD Million)
Table 114 North America: Power Electronics Market, by Country, 2023-2028 (USD Million)
Table 115 North America: Power Electronics Market, by Vertical, 2019-2022 (USD Million)
Table 116 North America: Power Electronics Market, by Vertical, 2023-2028 (USD Million)
13.2.1 Impact of Recession on Power Electronics Market in North America
13.2.2 US
13.2.2.1 Adoption of Wide Bandgap Semiconductor Materials and Energy Storage Solutions for Grid Stability to Drive Market
13.2.3 Canada
13.2.3.1 Rising Need for Power Electronics to Efficiently Manage Power Generated from Renewable Sources to Drive Market
13.2.4 Mexico
13.2.4.1 Economic Growth and Increasing Population to Propel Market
13.3 Europe
Figure 41 Europe: Power Electronics Market Snapshot
Table 117 Europe: Power Electronics Market, by Country, 2019-2022 (USD Million)
Table 118 Europe: Power Electronics Market, by Country, 2023-2028 (USD Million)
Table 119 Europe: Power Electronics Market, by Vertical, 2019-2022 (USD Million)
Table 120 Europe: Power Electronics Market, by Vertical, 2023-2028 (USD Million)
13.3.1 Impact of Recession on Power Electronics Market in Europe
13.3.2 UK
13.3.2.1 Active Government Support to Reduce Carbon Footprint Across Various Verticals to Drive Market
13.3.3 Germany
13.3.3.1 Significant Contribution of Power Electronics in Improving Affordability and Energy Efficiency of EVs to Fuel Market Growth
13.3.4 France
13.3.4.1 Increasing Adoption of EVs to Reduce Pollution to Boost Market Growth
13.3.5 Italy
13.3.5.1 Electricity Production from Renewable Energy Sources to Drive Market
13.3.6 Rest of Europe
13.4 Asia-Pacific
Figure 42 Asia-Pacific: Power Electronics Market Snapshot
Table 121 Asia-Pacific: Power Electronics Market, by Country, 2019-2022 (USD Million)
Table 122 Asia-Pacific: Power Electronics Market, by Country, 2023-2028 (USD Million)
Table 123 Asia-Pacific: Power Electronics Market, by Vertical, 2019-2022 (USD Million)
Table 124 Asia-Pacific: Power Electronics Market, by Vertical, 2023-2028 (USD Million)
13.4.1 Impact of Recession on Power Electronics Market in Asia-Pacific
13.4.2 China
13.4.2.1 Adoption of EVs and Renewable Energy Sources to Fuel Market Growth
13.4.3 Japan
13.4.3.1 Focus on Renewable Energy Production and Adoption of Sic Technology to Contribute to Market Growth
13.4.4 India
13.4.4.1 Rapid Urbanization and Infrastructure Modernization to Drive Market
13.4.5 South Korea
13.4.5.1 Rising Adoption of Power Electronics due to Increased Infrastructure Projects, Advancements in Transportation Systems, and Renewable Energy Initiatives to Propel Market
13.4.6 Rest of Asia-Pacific
13.5 RoW
Table 125 RoW: Power Electronics Market, by Region, 2019-2022 (USD Million)
Table 126 RoW: Power Electronics Market, by Region, 2023-2028 (USD Million)
Table 127 RoW: Power Electronics Market, by Vertical, 2019-2022 (USD Million)
Table 128 RoW: Power Electronics Market, by Vertical, 2023-2028 (USD Million)
13.5.1 Impact of Recession on Power Electronics Market in RoW
13.5.2 South America
13.5.2.1 Rising Demand for Power Electronics from Energy and Industrial Sectors in Brazil to Contribute to Market Growth
13.5.3 Middle East & Africa
Table 129 Middle East & Africa: Power Electronics Market, by Region, 2019-2022 (USD Million)
Table 130 Middle East & Africa: Power Electronics Market, by Region, 2023-2028 (USD Million)
13.5.3.1 Gcc Countries
13.5.3.2 Rest of Middle East & Africa
14 Competitive Landscape
14.1 Overview
14.2 Strategies Adopted by Key Players
Table 131 Overview of Strategies Adopted by Power Electronics Manufacturers, 2020-2023
14.2.1 Product Portfolio
14.2.2 Regional Focus
14.2.3 Manufacturing Footprint
14.2.4 Organic/Inorganic Growth Strategies
14.3 Market Share Analysis
Figure 43 Market Share Analysis of Key Players in Power Electronics Market, 2022
Table 132 Power Electronics Market: Degree of Competition, 2022
14.4 Five-Year Revenue Analysis of Top Five Players
Figure 44 Five-Year Revenue Analysis of Top Five Players in Power Electronics Market, 2018-2022
14.5 Company Evaluation Matrix, 2022
14.5.1 Stars
14.5.2 Emerging Leaders
14.5.3 Pervasive Players
14.5.4 Participants
Figure 45 Power Electronics Market: Company Evaluation Matrix, 2022
14.5.5 Company Footprint
Table 133 Overall Company Footprint (25 Companies)
Table 134 Company Device Type Footprint (25 Companies)
Table 135 Company Vertical Footprint (25 Companies)
Table 136 Company Regional Footprint (25 Companies)
14.6 Startup/Small and Medium-Sized Enterprises (SME) Evaluation Matrix, 2022
14.6.1 Progressive Companies
14.6.2 Responsive Companies
14.6.3 Dynamic Companies
14.6.4 Starting Blocks
Figure 46 Power Electronics Market: Startup/SME Evaluation Matrix, 2022
14.6.5 Competitive Benchmarking
Table 137 Power Electronics Market: List of Key Startups/SMEs
Table 138 Power Electronics Market: Competitive Benchmarking of Key Startups/SMEs
14.7 Investments and Funding
Table 139 Power Electronics Market: Investments and Funding
14.8 Competitive Scenarios and Trends
14.8.1 Product Launches
Table 140 Power Electronics Market: Product Launches, 2020-2023
14.8.2 Deals
Table 141 Deals, 2020-2023
14.8.3 Others
Table 142 Expansions, 2020-2023
15 Company Profiles
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, Weakness/Competitive Threats)*
15.1 Key Players
15.1.1 Infineon Technologies AG
Table 143 Infineon Technologies AG: Company Overview
Figure 47 Infineon Technologies AG: Company Snapshot
Table 144 Infineon Technologies AG: Products/Solutions/Services Offered
Table 145 Infineon Technologies AG: Product Launches
Table 146 Infineon Technologies AG: Deals
Table 147 Infineon Technologies AG: Others
15.1.2 Semiconductor Components Industries, LLC (On Semiconductor)
Table 148 Semiconductor Components Industries, LLC: Company Overview
Figure 48 Semiconductor Components Industries, LLC: Company Snapshot
Table 149 Semiconductor Components Industries, LLC: Products/Solutions/ Services Offered
Table 150 Semiconductor Components Industries, LLC: Product Launches
Table 151 Semiconductor Components Industries, LLC: Deals
Table 152 Semiconductor Components Industries, LLC: Others
15.1.3 Stmicroelectronics
Table 153 Stmicroelectronics: Company Overview
Figure 49 Stmicroelectronics: Company Snapshot
Table 154 Stmicroelectronics: Products/Solutions/Services Offered
Table 155 Stmicroelectronics: Product Launches
Table 156 Stmicroelectronics: Deals
Table 157 Stmicroelectronics: Others
15.1.4 Mitsubishi Electric Corporation
Table 158 Mitsubishi Electric Corporation: Company Overview
Figure 50 Mitsubishi Electric Corporation: Company Snapshot
Table 159 Mitsubishi Electric Corporation: Products/Solutions/Services Offered
Table 160 Mitsubishi Electric Corporation: Product Launches
Table 161 Mitsubishi Electric Corporation: Deals
Table 162 Mitsubishi Electric Corporation: Others
15.1.5 Vishay Intertechnology, Inc.
Table 163 Vishay Intertechnology, Inc.: Company Overview
Figure 51 Vishay Intertechnology, Inc.: Company Snapshot
Table 164 Vishay Intertechnology, Inc.: Products/Solutions/Services Offered
Table 165 Vishay Intertechnology, Inc.: Product Launches
15.1.6 Fuji Electric Co. Ltd.
Table 166 Fuji Electric Co. Ltd.: Company Overview
Figure 52 Fuji Electric Co. Ltd.: Company Snapshot
Table 167 Fuji Electric Co. Ltd.: Products/Solutions/Services Offered
Table 168 Fuji Electric Co. Ltd.: Product Launches
Table 169 Fuji Electric Co. Ltd.: Deals
15.1.7 Nxp Semiconductors
Table 170 Nxp Semiconductors: Company Overview
Figure 53 Nxp Semiconductors: Company Snapshot
Table 171 Nxp Semiconductors: Products/Solutions/Services Offered
Table 172 Nxp Semiconductors: Product Launches
Table 173 Nxp Semiconductors: Deals
15.1.8 Renesas Electronics Corporation.
Table 174 Renesas Electronics Corporation.: Company Overview
Figure 54 Renesas Electronics Corporation.: Company Snapshot
Table 175 Renesas Electronics Corporation.: Products/Solutions/Services Offered
Table 176 Renesas Electronics Corporation.: Product Launches
Table 177 Renesas Electronics Corporation.: Deals
15.1.9 Texas Instruments Incorporated
Table 178 Texas Instruments Incorporated: Company Overview
Figure 55 Texas Instruments Incorporated: Company Snapshot
Table 179 Texas Instruments Incorporated: Products/Solutions/Services Offered
Table 180 Texas Instruments Incorporated: Product Launches
Table 181 Texas Instruments Incorporated: Deals
Table 182 Texas Instruments Incorporated: Others
15.1.10 Toshiba Corporation
Table 183 Toshiba Corporation: Company Overview
Figure 56 Toshiba Corporation: Company Snapshot
Table 184 Toshiba Corporation: Products/Solutions/Services Offered
Table 185 Toshiba Corporation: Product Launches
Table 186 Toshiba Corporation: Deals
15.2 Other Players
15.2.1 ABB
15.2.2 Littelfuse, Inc.
15.2.3 Analog Devices, Inc.
15.2.4 Microchip Technology Inc.
15.2.5 Rohm Co. Ltd.
15.2.6 Semikron
15.2.7 Transphorm Inc.
15.2.8 Qorvo, Inc
15.2.9 Wolfspeed, Inc.
15.2.10 Euclid Techlabs.
15.2.11 Navitas Semiconductor
15.2.12 Efficient Power Conversion Corporation
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, Weakness/Competitive Threats)* Might Not be Captured in Case of Unlisted Companies
16 Appendix
16.1 Discussion Guide
16.2 KnowledgeStore: The Subscription Portal
16.3 Customization Options

Executive Summary

Companies Mentioned

  • ABB
  • Analog Devices, Inc.
  • Efficient Power Conversion Corporation
  • Euclid Techlabs.
  • Fuji Electric Co. Ltd.
  • Infineon Technologies AG
  • Littelfuse, Inc.
  • Microchip Technology Inc.
  • Mitsubishi Electric Corporation
  • Navitas Semiconductor
  • Nxp Semiconductors
  • Qorvo, Inc
  • Renesas Electronics Corporation.
  • Rohm Co. Ltd.
  • Semiconductor Components Industries, LLC (On Semiconductor)
  • Semikron
  • Stmicroelectronics
  • Texas Instruments Incorporated
  • Toshiba Corporation
  • Transphorm Inc.
  • Vishay Intertechnology, Inc.
  • Wolfspeed, Inc.

Table Information

Report AttributeDetails
No. of Pages278
PublishedDecember 2023
Forecast Period2023 - 2028
Estimated Market Value ( USD ) in 2023 $ 46.2 Billion
Forecasted Market Value ( USD ) by 2028 $ 61 Billion
Compound Annual Growth Rate5.7%
Regions CoveredGlobal
No. of Companies Mentioned22

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About the Power Electronics Market

The Power Electronics market is a subset of the Semiconductor industry, focusing on the development and production of power semiconductor devices. These devices are used to control and convert electrical power in a variety of applications, such as motor drives, power supplies, and renewable energy systems. Power Electronics is a rapidly growing market, driven by the increasing demand for energy efficiency and the need for reliable power conversion solutions. The Power Electronics market is composed of a variety of players, ranging from large multinationals to small and medium-sized enterprises. Major players include Infineon Technologies, Texas Instruments, STMicroelectronics, ON Semiconductor, Renesas Electronics, NXP Semiconductors, and Mitsubishi Electric. Other notable companies in the market include Toshiba, Fuji Electric, and ROHM Semiconductor. Show Less Read more

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