Global Power Electronics Market is valued at approximately USD 30.9 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2023-2030. Power electronics is a specialized field of electrical engineering that focuses on the conversion and control of electrical power. It deals with the design, development, and application of electronic devices and circuits for efficiently converting electrical energy from one form to another. This conversion process is essential in various applications, such as renewable energy systems, electric vehicles, industrial automation, and consumer electronics. Power electronics have a profound impact on improving energy efficiency, reducing environmental impact, and enhancing the performance of numerous electrical systems and devices across various industries. The Power Electronics Market is expanding because of factors such as expansion of renewable energy sources, increasing demand for energy efficiency and rising adoption of industrial robots.
Industrial robots rely heavily on electric motors for their movement and operation. Power electronics are essential for controlling these motors efficiently. Power electronic devices such as inverters and motor drives are used to regulate the speed, torque, and direction of robot motors. As the number of industrial robots deployed in manufacturing and other industries increases, demand for power electronics also rises. According to the International Federation of Robotics, in June 2022, the global shipment of industrial robots reached approximately 486,800 units, marking a significant 27% increase compared to the previous year in 2021. Additionally, the report reveals that the installation of industrial robots showed substantial growth, with installations rising from 3,919,000 units in 2019 to 5,170,000 units in 2021. Thus, the rising adoption of industrial robots is driving market growth. In addition, the electrification of the transportation industry and the development of smart grids are creating new opportunities for market growth. However, the complex integration process of advanced electronics devices stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Power Electronics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 owing to factors such as rising adoption of electric vehicles, increasing emphasis on energy efficiency, growing adoption of automation and robotics, and supportive government policies promoting clean energy technologies in the region. Whereas, Asia Pacific is projected to register fastest growth owing to factors such as increased demand for electrical power across various sectors, including automotive, industrial, consumer electronics, and renewable energy, the expansion of the EV and renewable energy sectors, industrial automation, and the region's manufacturing facilities is supporting the market growth.
Major market player included in this report are:
- ON Semiconductor Corporation
- ABB Ltd.
- Infineon Technologies AG
- Texas instruments Inc.
- ROHM Co. Ltd
- STMicroelectronics NV
- Renesas electronic corporation
- Vishay Intertechnologies Inc.
- Toshiba Corporation
- Mitsubishi Electric Corporation
Recent Developments in the Market:
- In May 2023, Infineon Technologies AG has unveiled the OptiMOS 7 40V MOSFET family, showcasing their latest advancement in power MOSFETs tailored for automotive applications. This MOSFET series offers a variety of lead-free and robust power packages, harnessing state-of-the-art 300 mm thin-wafer technology and inventive packaging methods to deliver significant improvements in performance, all while maintaining a compact design. Consequently, these MOSFETs prove ideal for an extensive range of current and future automotive uses that call for 40V MOSFETs, including electric power steering, braking systems, disconnect switches, and the evolving requirements of emerging zone architectures in the automotive sector
- In May 2023, Toshiba Electronics Europe introduced a state-of-the-art 150V N-channel power MOSFET, constructed using their advanced U-MOS X-H Trench process technology. The TPH9R00CQ5 MOSFET is custom-designed for high-performance switching power supplies, with a primary focus on applications such as communication base stations and a range of industrial uses. .
Global Power Electronics Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Device Type, Material, Application, End use, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Device Type:
- Power Discrete
- Power Module
- Power IC
By Material:
- Silicon Carbide
- Gallium Nitride
- Sapphire
- Others
By Application:
- Power Management
- UPS
- Renewable
- Others
By End Use:
- Telecommunication
- Industrial
- Automotive
- Consumer Electronics
- Military and Defense
- Energy and Power
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Power Electronics Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Power Electronics Market, by Device Type, 2020-2030 (USD Billion)
- 1.2.3. Power Electronics Market, by Material, 2020-2030 (USD Billion)
- 1.2.4. Power Electronics Market, by Application, 2020-2030 (USD Billion)
- 1.2.5. Power Electronics Market, by End Use, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Power Electronics Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Power Electronics Market Dynamics
- 3.1. Power Electronics Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Expansion of renewable energy sources
- 3.1.1.2. Increasing demand for energy efficiency
- 3.1.1.3. Rising adoption of industrial robots
- 3.1.2. Market Challenges
- 3.1.2.1. Complex integration process of advanced electronics devices
- 3.1.3. Market Opportunities
- 3.1.3.1. Electrification of transportation industry
- 3.1.3.2. Development of smart grids
Chapter 4. Global Power Electronics Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Power Electronics Market, by Device Type
- 5.1. Market Snapshot
- 5.2. Global Power Electronics Market by Device Type, Performance - Potential Analysis
- 5.3. Global Power Electronics Market Estimates & Forecasts by Device Type 2020-2030 (USD Billion)
- 5.4. Power Electronics Market, Sub Segment Analysis
- 5.4.1. Power Discrete
- 5.4.2. Power Module
- 5.4.3. Power IC
Chapter 6. Global Power Electronics Market, by Material
- 6.1. Market Snapshot
- 6.2. Global Power Electronics Market by Material, Performance - Potential Analysis
- 6.3. Global Power Electronics Market Estimates & Forecasts by Material 2020-2030 (USD Billion)
- 6.4. Power Electronics Market, Sub Segment Analysis
- 6.4.1. Silicon Carbide
- 6.4.2. Gallium Nitride
- 6.4.3. Sapphire
- 6.4.4. Others
Chapter 7. Global Power Electronics Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Power Electronics Market by Application, Performance - Potential Analysis
- 7.3. Global Power Electronics Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 7.4. Power Electronics Market, Sub Segment Analysis
- 7.4.1. Power Management
- 7.4.2. UPS
- 7.4.3. Renewable
- 7.4.4. Others
Chapter 8. Global Power Electronics Market, by End Use
- 8.1. Market Snapshot
- 8.2. Global Power Electronics Market by End Use, Performance - Potential Analysis
- 8.3. Global Power Electronics Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
- 8.4. Power Electronics Market, Sub Segment Analysis
- 8.4.1. Telecommunication
- 8.4.2. Industrial
- 8.4.3. Automotive
- 8.4.4. Consumer Electronics
- 8.4.5. Military and Defense
- 8.4.6. Energy and Power
- 8.4.7. Others
Chapter 9. Global Power Electronics Market, Regional Analysis
- 9.1. Top Leading Countries
- 9.2. Top Emerging Countries
- 9.3. Power Electronics Market, Regional Market Snapshot
- 9.4. North America Power Electronics Market
- 9.4.1. U.S. Power Electronics Market
- 9.4.1.1. Device Type breakdown estimates & forecasts, 2020-2030
- 9.4.1.2. Material breakdown estimates & forecasts, 2020-2030
- 9.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 9.4.1.4. End Use breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Power Electronics Market
- 9.5. Europe Power Electronics Market Snapshot
- 9.5.1. U.K. Power Electronics Market
- 9.5.2. Germany Power Electronics Market
- 9.5.3. France Power Electronics Market
- 9.5.4. Spain Power Electronics Market
- 9.5.5. Italy Power Electronics Market
- 9.5.6. Rest of Europe Power Electronics Market
- 9.6. Asia-Pacific Power Electronics Market Snapshot
- 9.6.1. China Power Electronics Market
- 9.6.2. India Power Electronics Market
- 9.6.3. Japan Power Electronics Market
- 9.6.4. Australia Power Electronics Market
- 9.6.5. South Korea Power Electronics Market
- 9.6.6. Rest of Asia Pacific Power Electronics Market
- 9.7. Latin America Power Electronics Market Snapshot
- 9.7.1. Brazil Power Electronics Market
- 9.7.2. Mexico Power Electronics Market
- 9.8. Middle East & Africa Power Electronics Market
- 9.8.1. Saudi Arabia Power Electronics Market
- 9.8.2. South Africa Power Electronics Market
- 9.8.3. Rest of Middle East & Africa Power Electronics Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. ON Semiconductor Corporation
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Recent Developments
- 10.3.2. ABB Ltd.
- 10.3.3. Infineon Technologies AG
- 10.3.4. Texas instruments Inc.
- 10.3.5. ROHM Co. Ltd
- 10.3.6. STMicroelectronics NV
- 10.3.7. Renesas electronic corporation
- 10.3.8. Vishay Intertechnologies Inc.
- 10.3.9. Toshiba Corporation
- 10.3.10. Mitsubishi Electric Corporation
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption