Power Electronics Market Report 2026

The power electronics market size has grown strongly in recent years. It will grow from $49.78 billion in 2025 to $52.39 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to early use of diode and thyristor devices, adoption in consumer electronics power supplies, increasing use in industrial motor drives, reliance on silicon-based switching technologies, expansion in ups and power management systems.

The power electronics market size is expected to see strong growth in the next few years. It will grow to $64.15 billion in 2030 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to increasing demand for sic and gan-based devices, rising adoption in automotive electrification, expansion of renewable power integration, development of compact high-voltage modules, growth in intelligent energy management solutions. Major trends in the forecast period include adoption of high-efficiency power conversion technologies, expansion of intelligent power management platforms, development of IoT-enabled energy control systems, advancement of AI-assisted thermal management, growth of electrification-driven power modules.

The surge in sales of smart electronic devices is poised to contribute to the expansion of the power electronics market. Smart electronic devices, which are internet-connected and can be remotely controlled through applications or voice commands, are fostering innovation and driving demand for power management and intelligent energy solutions. A report by Smart Home Statistics projects that, by 2025, the global shipment composition of smart devices will include smart lighting systems (26%), security cameras (23%), smart speakers (19%), smart TVs (14%), and other smart devices (18%). Consequently, the rising sales of smart electronic devices are expected to bolster the growth of the power electronics market.

Major companies in the power electronics sector are concentrating on developing cutting-edge technologies to meet consumer demands. For example, in September 2023, STMicroelectronics, a Switzerland-based manufacturer of electronics and semiconductors, launched a new class of IGBTs with a breakdown-voltage capability of 1350V and a maximum operating temperature of 175°C, which enhances design margins, performance, and reliability. The STPOWER IH2 series also improves power conversion efficiency, featuring a low saturation voltage that reduces power dissipation and a freewheeling diode that boosts efficiency in quasi-resonant converters operating between 16kHz and 60kHz. These IGBTs are particularly well-suited for induction heating applications in household appliances, achieving up to an 11% reduction in power dissipation for 2kW applications.

In January 2024, Hitachi Energy Ltd., a Switzerland-based provider of power grid technologies, high-voltage systems, and industrial automation solutions, acquired COET S.p.A. for an undisclosed amount. Through this acquisition, Hitachi Energy Ltd. aimed to strengthen its power electronics capabilities in high-power electric vehicle (EV) charging infrastructure and the grid-edge by incorporating COET S.p.A.’s design and manufacturing expertise. COET S.p.A. is an Italy-based designer and manufacturer of DC traction products, AC/DC equipment, and high-power industrial power electronics.

Major companies operating in the power electronics market are ABB Ltd., Fuji Electric Co. Ltd., Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corporation, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments incorporated, Toshiba Corporations, Vishay Intertechnology, NXP Semiconductors, GaN Systems Inc., Littelfuse Inc., Maxim Integrated, ROHM Co. Ltd., Transphorm Inc., ON Semiconductor Corporation, Microchip Technology Inc., UnitedSiC Inc., Wolfspeed Inc., IXYS Corporation, Power Integrations Inc., Cree Inc., Diodes Incorporated, Semtech Corporation, Analog Devices Inc., Fairchild Semiconductor International Inc., International Rectifier Corporation, Linear Technology Corporation, Monolithic Power Systems Inc., Powerex Inc., Silicon Laboratories Inc., Sanken Electric Co. Ltd., TDK Corporation, Vicor Corporation, Yaskawa Electric Corporation, Murata Manufacturing Co. Ltd., Panasonic Corporation.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have impacted the power electronics market by increasing the cost of imported semiconductors, wafers, packaging materials, and thermal management components essential for producing discrete devices and power modules. Automotive, industrial, and renewable sectors across Asia-Pacific, Europe, and North America are most affected due to reliance on globally interconnected electronics supply chains. Nevertheless, tariffs are driving regional fabrication expansion, localized module assembly, and innovation in cost-optimized wide-bandgap technologies, improving long-term industry resilience.

The power electronics market research report is one of a series of new reports that provides power electronics market statistics, including power electronics industry global market size, regional shares, competitors with a power electronics market share, detailed power electronics market segments, market trends and opportunities, and any further data you may need to thrive in the power electronics industry. This power electronics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Power electronics refers to electronic circuit devices designed to efficiently and robustly transfer power from a source to a load, employing components such as diodes, transistors, and thyristors. These devices play a crucial role in converting electrical power from one form to another for effective power delivery.

The primary categories of products in power electronics are discrete and module. Discrete devices consist of single-type semiconductors like diodes or transistors. Among these, power transistors stand out as key discrete devices widely applied in various contexts, including voltage regulation, power consumption reduction, and heat generation mitigation. Different materials, such as silicon, silicon carbide, and gallium nitride, are utilized, and various voltage levels, including low, medium, and high voltage, are incorporated. Power electronics find application in power management, uninterruptible power supplies (UPS), renewable energy systems, and other diverse applications. They are employed across various sectors, including automotive, consumer electronics, information technology and telecommunication, military and aerospace, industrial, energy and power, among others.Asia-Pacific was the largest region in the power electronics market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the power electronics market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the power electronics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The power electronics market consists of sales of controlled rectifier, diodes, SCRs, and Triacs. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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