Power Electronics Market Size, Share, Trends, Growth and Forecast 2032
Power Electronics Market - By Device (Power Diodes, Metal-Oxide-Semiconductor Field-Effect Transistor, Bipolar-Junction Transistor, Insulated-Gate Bipolar Transistor, and Thyristor), By Type (Power IC, Power Module, and Power Discrete), By Application (Consumer Electronics, Energy & Power, Industrial System, Inverter & UPS, Industrial System, And Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2023-2032
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 45.06 Billion | USD 74.23 Billion | 5.7% | 2023 |
Table Of Content
- Chapter 1. Preface
- 1.1. Report Description
- 1.1.1. Objective
- 1.1.2. Target Audience
- 1.1.3. Unique Selling Proposition (USP) & Devices
- 1.2. Research Scope
- 1.3. Research Methodology
- 1.3.1. Market Research Process
- 1.3.2. Market Research Methodology
- 1.3.3. Level 1: Primary Research
- 1.3.4. Level 2: Secondary Research
- 1.3.5. Level 3: Data Output and Expert Panel Assessment Report Description and Scope
- 1.1. Report Description
- Chapter 2. Executive Summary
- 2.1. Global Power Electronics Market, 2016-2025, (USD Billion)
- 2.2. Power Electronics: Market snapshot
- Chapter 3. Global Power Electronics - Industry Analysis
- 3.1. Introduction
- 3.2. Industry Ecosystem Analysis
- 3.3. Device Landscape
- 3.4. Market Drivers
- 3.4.1. North America
- 3.4.2. Europe
- 3.4.2.1. Increasing adoption of power electronics in electric vehicle
- 3.4.3. Asia Pacific
- 3.4.4. Latin America
- 3.4.5. MEA
- 3.5. Restraints
- 3.5.1. Current leakage
- 3.6. Opportunity
- 3.7. Innovation & Sustainability
- 3.8. Regulatory Landscape
- 3.9. Porter's Five Forces Analysis
- 3.10. PESTLE Analysis
- 3.11. Power Electronics: Market Attractiveness Analysis
- 3.11.1. Market Attractiveness Analysis by Device Segment.
- 3.11.2. Market Attractiveness Analysis by Type Segment.
- 3.11.3. Market Attractiveness Analysis by Application Segment.
- 3.11.4. Market Attractiveness Analysis by Regional Segment.
- Chapter 4. Global Power Electronics - Competitive Landscape
- 4.1. Company Market Share Analysis, 2018
- 4.2. Strategic Development
- 4.2.1. Acquisitions and Mergers
- 4.2.2. New Device Launch
- 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
- 4.2.4. Research and Development, and Regional Expansion
- Chapter 5. Power Electronics - Device Segment Analysis
- 5.1. Global Power Electronics Revenue Share, by Device, 2018 & 2025
- 5.1.1. Global Power Electronics by Power Diodes, 2016 - 2025 (USD Billion)
- 5.1.2. Global Power Electronics by Metal-Oxide-Semiconductor Field-Effect Transistor, 2016 - 2025 (USD Billion)
- 5.1.3. Global Power Electronics by Bipolar-Junction Transistor, 2016 - 2025 (USD Billion)
- 5.1.4. Global Power Electronics by Insulated-Gate Bipolar Transistor, 2016 - 2025 (USD Billion)
- 5.1.5. Global Power Electronics by Thyristor, 2016 - 2025 (USD Billion)
- 5.1. Global Power Electronics Revenue Share, by Device, 2018 & 2025
- Chapter 6. Power Electronics - Device Segment Analysis
- 6.1. Global Power Electronics Revenue Share, by Type, 2018 & 2025
- 6.1.1. Global Power Electronics by Power IC, 2016 - 2025 (USD Billion)
- 6.1.2. Global Power Electronics by Power Module, 2016 - 2025 (USD Billion)
- 6.1.3. Global Power Electronics by Power Discrete, 2016 - 2025 (USD Billion)
- 6.1. Global Power Electronics Revenue Share, by Type, 2018 & 2025
- Chapter 7. Power Electronics - Application Segment Analysis
- 7.1. Global Power Electronics Revenue Share, by Application, 2018 & 2025
- 7.1.1. Global Power Electronics by Consumer Electronics, 2016 - 2025 (USD Billion)
- 7.1.2. Global Power Electronics by Energy & Power, 2016 - 2025 (USD Billion)
- 7.1.3. Global Power Electronics by Industrial System, 2016 - 2025 (USD Billion)
- 7.1.4. Global Power Electronics by Inverter & UPS, 2016 - 2025 (USD Billion)
- 7.1.5. Global Power Electronics by Industrial System, 2016 - 2025 (USD Billion)
- 7.1.6. Global Power Electronics by Others, 2016 - 2025 (USD Billion)
- 7.1. Global Power Electronics Revenue Share, by Application, 2018 & 2025
- Chapter 8. Power Electronics Regional Analysis
- 8.1. Global Power Electronics: Regional Overview
- 8.1.1. Global Power Electronics Revenue Share, By Region, 2018 & 2025
- 8.2. North America
- 8.2.1. North America Power Electronics Revenue, 2016 - 2025 (USD Billion)
- 8.2.2. North America Power Electronics Revenue, By Device, 2016 - 2025 (USD Billion)
- 8.2.3. North America Power Electronics Revenue, By Type, 2016 - 2025 (USD Billion)
- 8.2.4. North America Power Electronics Revenue, By Application, 2016 - 2025 (USD Billion)
- 8.2.5. U.S.
- 8.2.5.1. U.S. Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.2.5.2. U.S. Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.2.5.3. U.S. Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.2.6. Canada
- 8.2.6.1. Canada Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.2.6.2. Canada Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.2.6.3. Canada Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.2.7. Mexico
- 8.2.7.1. Mexico Power Electronics Revenue, by Device , 2016 - 2025 (USD Billion)
- 8.2.7.2. Mexico Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.2.7.3. Mexico Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.3. Europe
- 8.3.1. Europe Power Electronics Revenue, 2016 - 2025 (USD Billion)
- 8.3.2. Europe Power Electronics Revenue, By Device, 2016 - 2025 (USD Billion)
- 8.3.3. Europe Power Electronics Revenue, By Type, 2016 - 2025 (USD Billion)
- 8.3.4. Europe Power Electronics Revenue, By Application, 2016 - 2025 (USD Billion)
- 8.3.5. UK
- 8.3.5.1. UK Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.3.5.2. UK Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.3.5.3. UK Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.3.6. France
- 8.3.6.1. France Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.3.6.2. France Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.3.6.3. France Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.3.7. Germany
- 8.3.7.1. Germany Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.3.7.2. Germany Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.3.7.3. Germany Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.3.8. Rest of Europe
- 8.3.8.1. Rest of Europe. Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.3.8.2. Rest of Europe. Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.3.8.3. Rest of Europe Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.4. Asia Pacific
- 8.4.1. Asia Pacific Power Electronics Revenue, 2016 - 2025 (USD Billion)
- 8.4.2. Asia Pacific Power Electronics Revenue, By Device, 2016 - 2025 (USD Billion)
- 8.4.3. Asia Pacific Power Electronics Revenue, By Type, 2016 - 2025 (USD Billion)
- 8.4.4. Asia Pacific Power Electronics Revenue, By Application, 2016 - 2025 (USD Billion)
- 8.4.5. India
- 8.4.5.1. India Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.4.5.2. India Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.4.5.3. India Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.4.6. China
- 8.4.6.1. China Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.4.6.2. China Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.4.6.3. China Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.4.7. Japan
- 8.4.7.1. Japan Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.4.7.2. Japan Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.4.7.3. Japan Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.4.8. Rest of Asia Pacific
- 8.4.8.1. Rest of Asia Pacific Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.4.8.2. Rest of Asia Pacific Power Electronics Type, by Device, 2016 - 2025 (USD Billion)
- 8.4.8.3. Rest of Asia Pacific Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.5. Latin America
- 8.5.1. Latin America Power Electronics Revenue, 2016 - 2025 (USD Billion)
- 8.5.2. Latin America Power Electronics Revenue, By Device, 2016 - 2025 (USD Billion)
- 8.5.3. Latin America Power Electronics Revenue, By Type, 2016 - 2025 (USD Billion)
- 8.5.4. Latin America Power Electronics Revenue, By Application, 2016 - 2025 (USD Billion)
- 8.5.5. Brazil
- 8.5.5.1. Brazil Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.5.5.2. Brazil Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.5.5.3. Brazil Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.5.6. Argentina
- 8.5.6.1. Argentina Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.5.6.2. Argentina Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.5.6.3. Argentina Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.5.7. Rest of Latin America
- 8.5.7.1. Rest of Latin America Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.5.7.2. Rest of Latin America Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.5.7.3. Rest of Latin America Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.6. Middle East & Africa
- 8.6.1. Middle East & Africa Power Electronics Revenue, 2016 - 2025 (USD Billion)
- 8.6.2. Middle East & Africa Power Electronics Revenue, By Device, 2016 - 2025 (USD Billion)
- 8.6.3. Middle East & Africa Power Electronics Revenue, By Type, 2016 - 2025 (USD Billion)
- 8.6.4. Middle East & Africa Power Electronics Revenue, By Application, 2016 - 2025 (USD Billion)
- 8.6.5. GCC countries
- 8.6.5.1. GCC Countries Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.6.5.2. GCC Countries Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.6.5.3. GCC Countries Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.6.6. Rest of MEA
- 8.6.6.1. Rest of MEA Power Electronics Revenue, by Device, 2016 - 2025 (USD Billion)
- 8.6.6.2. Rest of MEA Power Electronics Revenue, by Type, 2016 - 2025 (USD Billion)
- 8.6.6.3. Rest of MEA Power Electronics Revenue, by Output, 2016 - 2025 (USD Billion)
- 8.6.6.4. Rest of MEA Power Electronics Revenue, by Application, 2016 - 2025 (USD Billion)
- 8.1. Global Power Electronics: Regional Overview
- Chapter 9. Company Profiles
- 9.1. Infineon Technologies AG
- 9.1.1. Overview
- 9.1.2. Financials
- 9.1.3. Device Portfolio
- 9.1.4. Business strategy
- 9.1.5. Recent developments
- 9.1.6. SWOT
- 9.2. Mitsubishi Electric Corp.
- 9.2.1. Overview
- 9.2.2. Financials
- 9.2.3. Device Portfolio
- 9.2.4. Business strategy
- 9.2.5. Recent developments
- 9.2.6. SWOT
- 9.3. Toshiba Corporation
- 9.3.1. Overview
- 9.3.2. Financials
- 9.3.3. Device Portfolio
- 9.3.4. Business strategy
- 9.3.5. Recent developments
- 9.3.6. SWOT
- 9.4. ABB Group
- 9.4.1. Overview
- 9.4.2. Financials
- 9.4.3. Device Portfolio
- 9.4.4. Business strategy
- 9.4.5. Recent developments
- 9.4.6. SWOT
- 9.5. STMicroelectronics
- 9.5.1. Overview
- 9.5.2. Financials
- 9.5.3. Device Portfolio
- 9.5.4. Business strategy
- 9.5.5. Recent developments
- 9.5.6. SWOT
- 9.6. Fuji Electric Co. Ltd.
- 9.6.1. Overview
- 9.6.2. Financials
- 9.6.3. Device Portfolio
- 9.6.4. Business strategy
- 9.6.5. Recent developments
- 9.6.6. SWOT
- 9.7. Rockwell Automation Inc.
- 9.7.1. Overview
- 9.7.2. Financials
- 9.7.3. Device Portfolio
- 9.7.4. Business strategy
- 9.7.5. Recent developments
- 9.7.6. SWOT
- 9.8. Renesas Electronics Corporation
- 9.8.1. Overview
- 9.8.2. Financials
- 9.8.3. Device Portfolio
- 9.8.4. Business strategy
- 9.8.5. Recent developments
- 9.8.6. SWOT
- 9.9. Microsemi Corporation
- 9.9.1. Overview
- 9.9.2. Financials
- 9.9.3. Device Portfolio
- 9.9.4. Business strategy
- 9.9.5. Recent developments
- 9.9.6. SWOT
- 9.10. Texas Instruments, Inc.
- 9.10.1. Overview
- 9.10.2. Financials
- 9.10.3. Device Portfolio
- 9.10.4. Business strategy
- 9.10.5. Recent developments
- 9.10.6. SWOT
- 9.1. Infineon Technologies AG
Table Of Figures
List of Figures
1. Global Power Electronics Segmentation by Device, Device, Applications and Geography
2. Global Power Electronics, 2018-2025 (USD Billion)
3. Porter’s Five Forces Analysis: Power Electronics
4. Global Power Electronics Attractiveness, by Device
5. Global Power Electronics Attractiveness, by Type
6. Global Power Electronics Attractiveness, by Application
7. Global Power Electronics Attractiveness, by Regional
8. Global Power Electronics – Device Segment Analysis
9. Global Power Electronics Revenue Share, by Device, 2018 & 2025
10. Global Power Electronics by Power Diodes, 2016 – 2025 (USD Billion)
11. Global Power Electronics by Metal-Oxide-Semiconductor Field-Effect Transistor, 2016 – 2025 (USD Billion)
12. Global Power Electronics by Bipolar-Junction Transistor, 2016 – 2025 (USD Billion)
13. Global Power Electronics by Insulated-Gate Bipolar Transistor, 2016 – 2025 (USD Billion)
14. Global Power Electronics by Thyristor, 2016 – 2025 (USD Billion)
15. Global Power Electronics – Type Segment Analysis
16. Global Power Electronics Revenue Share, by Type, 2018 & 2025
17. Global Power Electronics by Power IC, 2016 – 2025 (USD Billion)
18. Global Power Electronics by Power Module, 2016 – 2025 (USD Billion)
19. Global Power Electronics by Power Discrete, 2016 – 2025 (USD Billion)
20. Power Electronics – Application Segment Analysis
21. Global Power Electronics Revenue Share, by Application, 2018 & 2025
22. Global Power Electronics by Consumer Electronics, 2016 – 2025 (USD Billion)
23. Global Power Electronics by Energy & Power, 2016 – 2025 (USD Billion)
24. Global Power Electronics by Industrial System, 2016 – 2025 (USD Billion)
25. Global Power Electronics by Inverter & UPS, 2016 – 2025 (USD Billion)
26. Global Power Electronics by Industrial System, 2016 – 2025 (USD Billion)
27. Global Power Electronics by Others, 2016 – 2025 (USD Billion)
28. Global Power Electronics Revenue Share, by Region, 2018 &2025
29. North America Power Electronics, 2016-2025, (USD Billion)
30. Europe Power Electronics, 2016-2025, (USD Billion)
31. Asia Pacific Power Electronics, 2016-2025(USD Billion)
32. Latin America Power Electronics, 2016 – 2025 (USD Billion)
33. Middle East & Africa Power Electronics, 2016 – 2025, (USD Billion)
Table Of Tables
List of Tables
1. Global Power Electronics snapshot
2. Drivers for Power Electronics: Impact analysis
3. Restraints of Power Electronics: Impact analysis
4. North America Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
5. North America Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
6. North America Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
7. U.S. Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
8. U.S. Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
9. U.S. Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
10. Canada Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
11. Canada Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
12. Canada Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
13. Mexico Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
14. Mexico Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
15. Mexico Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
16. Europe Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
17. Europe Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
18. Europe Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
19. UK Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
20. UK Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
21. UK Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
22. France Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
23. France Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
24. France Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
25. Germany Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
26. Germany Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
27. Germany Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
28. Rest of Europe Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
29. Rest of Europe Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
30. Rest of Europe Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
31. Asia Pacific Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
32. Asia Pacific Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
33. Asia Pacific Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
34. India Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
35. India Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
36. India Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
37. China Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
38. China Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
39. China Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
40. Japan Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
41. Japan Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
42. Japan Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
43. Rest of Asia Pacific Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
44. Rest of Asia Pacific Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
45. Rest of Asia Pacific Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
46. Latin America Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
47. Latin America Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
48. Latin America Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
49. Brazil Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
50. Brazil Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
51. Brazil Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
52. Argentina Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
53. Argentina Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
54. Argentina Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
55. Rest of Latin America Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
56. Rest of Latin America Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
57. Rest of Latin America Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
58. Middle East & Africa Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
59. Middle East & Africa Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
60. Middle East & Africa Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
61. GCC Countries Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
62. GCC Countries Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
63. GCC Countries Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
64. Rest of MEA Power Electronics Revenue, By Device, 2016 – 2025 (USD Billion)
65. Rest of MEA Power Electronics Revenue, By Type, 2016 – 2025 (USD Billion)
66. Rest of MEA Power Electronics Revenue, By Output, 2016 – 2025 (USD Billion)
67. Rest of MEA Power Electronics Revenue, By Application, 2016 – 2025 (USD Billion)
Methodology
FrequentlyAsked Questions
Escalating demand for power-efficient device as well as battery-charged equipment is projected to impel the overall industry growth over the forecast timespan. Surge in acceptance of power electronics can be attributed to the introduction of electric cars as well as hybrid cars along with the use of internet of things & sensor technology in the automotive sector. Large-scale utilization of power electronics in consumer electronics, defense & aerospace, and energy & power sectors will steer the business trends. Escalating use of plug-in electric automobiles along with adding of new features to power metal oxide semiconductor field effect transistors will proliferate the market size over the forecast timespan.
The global Power Electronics Market size was worth around USD 45.06 Billion in 2023 and is predicted to grow to around USD 74.23 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.7% between 2024 and 2032.
Europe is likely to make noteworthy contributions towards overall market size during forecast timespan. The regional market growth over 2020-2026 can be ascribed to allocation of large funds by the government for electric vehicle producers along with subsidies for the vehicle purchasers. Countries like Germany, France, and the UK are expected to steer the regional market growth both in terms of value and size. Apart from this, large number of the vehicle manufacturers in Germany, Italy, UK, and France are focusing on production of electric vehicles to reduce fuel emissions from vehicles as per guidelines stated in the Paris accord and due to stringent EU environmental laws. This, in turn, will enlarge the penetration of power electronics devices in the automotive sector of Europe, thereby impelling the regional industry trends.
The key players profiled in the report include Renesas Electronics Corporation, ABB Group, Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corp., STMicroelectronics, Rockwell Automation, Inc., Toshiba Corporation, Fuji Electric Co. Ltd., and Texas Instruments, Inc.
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