Power Electronics Market 2023, Industry Size-Share, Global Trends, Key Players Strategies, Business Opportunities, Revenue, Gross Margin and Forecast 2029
According to a Comprehensive Research Report by Exactitude Consultancy, “Power Electronics Market by Device Type (Power Discrete, Power Module, Power IC), by Material (Silicon Carbide, Gallium Nitride, Sapphire, Others), by End Use (Telecommunication, Industrial, Automotive, Consumer Electronics, Military and defense, Others) and by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) Global Trends and Forecast from 2023 to 2029”, The power electronics market is expected to grow at 5.1% CAGR from 2023 to 2029. It is expected to reach above USD 39.6 billion by 2029 from USD 26.6 billion in 2022.
Power Electronics report covers extensive analysis of the key market players, along with their business overview, expansion plans, and strategies. The key players studied in the report include: ABB Group, Fuji Electric Co. LTD, Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corporation, Renesas Electronics Corporation, and Rockwell Automation, Inc., STMicroelectronics, Texas Instruments Incorporated, and Toshiba Corporation and others.
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✔ A summary of the research work.
✔ Table of Contents The study’s depth of coverage
✔ Market participants at the forefront
✔ The research framework of the report’s structure
✔ Exactitude Consultancy’ research methodology
Recent Developments
In September 2023, STMicroelectronics introduced a new category of IGBTs featuring an enhanced breakdown-voltage capacity of 1350V and a maximum operating temperature of 175°C. These elevated specifications guarantee amplified design margins, resilient performance, and prolonged reliability across all operational scenarios.
In July 2023, Infineon Technologies AG expands its range of PQFN 2x2 mm² products, introducing top-tier OptiMOS power MOSFETs. Compact discrete power MOSFETs are essential for conserving space, reducing costs, and facilitating the design of user-friendly applications.
Some points on how the report benefits stakeholders:
✔ The Power Electronics Market reports include historical (2018–2020) and forecast (2022–2029) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
✔ The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
✔ Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2029.
✔ The Power Electronics Industry report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
✔ The report contains company profiles of the top companies operating in the Power Electronics market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
✔ Power Electronics Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
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What are the market factors explained in the report?
Key Strategic Developments: The study includes key strategic developments of the Power Electronics Market, comprising R&D, new product launch, mergers and acquisitions, agreements, partnerships, collaborations, joint ventures, and regional growth of key competitors operating in the market globally and region.
Key Market Features: The report analyzed key market features including price, revenue, capacity, supply/demand, capacity utilization rate, gross production, production rate, Power Electronics market share, consumption, import/export, cost, CAGR and gross margin. Furthermore, the report also offers a comprehensive study of the key Power Electronics dynamics and its latest trends, along with relevant market segments and sub-segments.
Analytical Tools: The Global Outsourced Power Electronics Market report includes accurately researched and analyzed data on the key industry players and their scope in the market through various analytical tools. Analytical tools such as Porter's five forces analysis, feasibility study, and ROI analysis have been used to analyze the growth of the key players operating in the market.
Regional Analysis
The Power Electronics market by region includes Asia-Pacific (APAC), North America, Europe, South America, and Middle East & Africa (MEA).
North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and the Rest of MEA
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
With the highest compound annual growth rate (CAGR) over the course of the forecast period, the Asia Pacific region is anticipated to dominate the power electronics market. The significant presence of the consumer electronics, industrial, automotive, and information and communication technology (ICT) sectors in nations like China, Japan, and South Korea is responsible for the market's expansion in Asia Pacific. The market is driven primarily by the rising need for electricity generation and by government initiatives in the Asia Pacific region to support the development of infrastructure for renewable energy sources.
It is projected that the growing population in developing nations, especially China and India, will accelerate the construction of communication infrastructure and fuel market expansion for power electronics in the area. Renesas Electronics Corporation, Mitsubishi Electric Corporation, Fuji Electric Co., Ltd., and Toshiba Corporation are just a few of the well-known power electronics companies that favorably impact the Asia Pacific industry and greatly aid in its regional growth. Furthermore, the rise of Chinese companies like BYO, Huawei, CRRC, and Sungrow is bolstering the local power electronics business in China. The Asia Pacific power electronics market is expanding as a result of all these reasons combined.
Frequently Asked Questions
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