Power Electronics Market Analysis, Size, Share and Forecast Report to 2025

Posted on 2021-01-18 by researchinsights in Technology // 0 Comments

Felton, California , USA, Jan 18, 2021 — /EPR Network/ —

Power Electronics Market is solid-state circuit that control electric power in efficient manner. The emerging demand for energy-efficient, battery powered devices and use of electronics in different industries is likely to fuel market globally over a forecast period. In 2016, the market size of power electronics was valued at USD 32.33 globally.

The growing trend of energy harvesting, usage of renewable energy sources are key reasons that are anticipated in growth of industry in coming period. The use of power electronics in electric vehicle is also considered to be important in market growth.

Power electronics is a circuit that is used to control and conversion of electric power. A rectifier is a common device that is used in many consumer electronics devices such as computer, battery charger and television set.

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At present, the power electronics has applications in electric cars and hybrid electric vehicles to avoid power loss. Electric trains, elevators also make use of power electronics that has ability to regulate energy flow into unidirectional and bidirectional depending on usage.

The rapid adoption of new technology for efficient energy usage is major driver for power electronics market. Aerospace & defense, consumer electronics, automobile sector are areas where power electronics are used widely.

Government initiatives to opt for renewable energy at all platforms, faster switching, rise in demand for higher efficiency are other additional factors that are expected to boost the market growth and is expected to create new opportunities.

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

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Some Major players in industry are Texas Instruments, Inc., Infineon Technologies AG, Mitsubishi Electric Corp, Qualcomm Inc. and Fuji Electric Co. The key players in developed and developing economies practice different strategic initiatives such as new product development, mergers and acquisitions to reach their customers and increase their market share.

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