San Francisco,9 October
2018: The global power
electronics market is
expected to reach USD 39.22 billion by 2025, according to a new report by Grand
View Research, Inc. Increased focus on the usage of renewable energy sources
has been one of the major factors driving the market. In addition, the
development of power infrastructure, coupled with the increasing demand for
battery-powered portable devices, has led to the increased adoption of power
electronic devices and products across various industry verticals such as
power, automotive, communication, aerospace & defense, consumer
electronics, and other sectors.
Power electronic devices use switching
electronic circuits to regulate the flow of energy. They are also used in
alteration of electric power, which is usually performed by the semiconductor
devices such as diodes, transistors, and thyristors. Power electronic devices
are useful in connecting renewable energy resources with power grids and
transportation of energy. They have applications in electric trains, motor
drives, and lighting equipment and play a key role by enabling heat sinking and
soft starting of the motors.
The power electronics market is extensively
consolidated, in terms of applications and materials that are used to produce
power electronic devices. The advancements and exhaustive research &
development activities in the power devices have enabled the evolution of power
electronics. The market possesses significant potential for growth and is
dynamic and adaptive in nature. A few highlighting features of the power
electronic devices are durability against coarse environmental conditions,
extended life (suitable for rugged industrial applications), and better
efficiency & reliability.
The power electronics industry has been
undergoing continuous developments and up gradations, since its emergence.
Several factors, such as the rapid inception of renewable energy sources and
rising adoption of electric vehicles & radio communication, are influencing
market growth. The adoption of power electronic devices in healthcare systems
& instruments and the automotive industry is expected to drive the market
over the forecast period.
The Asia Pacific market is expected to grow
at the fastest CAGR of 2.0% from 2017 to 2025, owing to the emergence of
manufacturing hubs across the continent. Countries, such as China, India, South
Korea and Singapore, are expanding their domestic manufacturing activities
across various industry verticals, such as consumer electronics,
telecommunication, military & defense, and automotive, to strengthen their
economies. In addition to this, prominent industry players are investing and
establishing production & distribution units to capture the regional
markets. All the above-mentioned factors are further providing additional
impetus to power electronics market.
However, the power electronics market is
facing challenges such as high initial expenditures and deposition of Gallium
Nitride (GaN), Gallium Arsenide (GaAs), and Silicon Carbide (SiC) on the
silicon materials which is a quite tedious and complex procedure, especially to
reach while in high voltage ranges. Expensive & time-consuming processes
and complexity issues involved in manufacturing power devices are anticipated
to restrain the market growth.
Access
Research Report of Power Electronics
Market@ www.grandviewresearch.com/industry-analysis/power-electronics-market
Further key findings from the report suggest:
· The global power electronics market was
valued at USD 31.48 billion in 2015 and is expected to grow at a CAGR of 2.2%
from 2017 to 2025
· The silicon segment emerged as the largest
material segment in 2015 and is estimated to generate USD 28.0 billion by 2025
· The Integrated Circuit (IC) segment is
projected to exhibit the fastest growth rate over the forecast period
· The industry is projected to witness
substantial growth, in the Asia Pacific region, over the next decade, owing to
the developments in major and emerging economies (across the ICT, automotive,
and consumer electronic sectors) such as China, Japan, South Korea, and India.
The regional market is expected to grow at a CAGR of 2.8% from 2017 to 2025.
· The key players, such as Texas Instruments,
Inc., Renesas Electronics Corp, Mitsubishi Electric Corp., Fuji Electric Co.,
Ltd., and Infineon Technologies AG, dominated the global power electronics
market and accounted for 60% of the total revenue in 2015
Browse more reports of this category by Grand View Research
at: www.grandviewresearch.com/industry/electronic-devices
Grand View Research has segmented the
global power electronics market based on materials, devices, applications, and
regions:
Material Outlook (Revenue, USD Billion,
2014 - 2025)
·
Silicon
·
Sapphire
·
Silicon Carbide (SiC)
·
Gallium Nitride (GaN)
·
Others
Device Outlook (Revenue, USD Billion, 2014
- 2025)
·
Discrete
·
Module
·
IC
Application Outlook (Revenue, USD Billion,
2014 - 2025)
·
ICT
·
Consumer Electronics
·
Power
·
Industrial
·
Automotive
·
Aerospace & Defense
·
Others
Regional Outlook (Revenue, USD Billion,
2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
o
France
·
Asia Pacific
o
China
o
Japan
o
India
·
South America
o
Brazil
·
Middle East & Africa
Access Press Release of
Power Electronics Market@ www.grandviewresearch.com/press-release/global-power-electronics-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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