Power electronics is the area of engineering that focuses on applying solid-state electronics to the transformation and management of electrical power. The global Power Electronics market is projected to grow at a considerable rate owing to increasing demand for power electronics across various industry verticals.
The demand for power electronics is boosted by the rise in their usage in numerous applications such as industrial motor drives, electric grid stabilization, and consumer electronics. Further, the need for power management devices has augmented across several industries such as automotive, consumer electronics, and energy & power, due to the surge in the use of high-voltage operating devices and the rise in adoption of power electronics components in electric vehicles. All these aforementioned factors majorly support the development of the global Power Electronics market. Furthermore, an increase in demand for SiC-based photovoltaic cells in developing countries, including China, Brazil, and India propel the growth of the global Power Electronics market.
On the downside, the complex integration process of advanced electronics devices is one of the factors that restrain the growth of the Power Electronics market. In addition to this, designing a complex device needs robust methodology, skillsets, and different toolsets for integration, which incur additional costs. Therefore, the high cost related to these devices detains their adoption among users, thus hampering the growth of the global Power Electronics market. Apart from this, the growing demand for plug-in electric vehicles (PEVs) and innovation in power metal-oxide-semiconductor field-effect transistor (MOSFET) is estimated to create profitable opportunities for the expansion of the power electronics market during the forecast period.
Covid-19 Impact on Power Electronics Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Power Electronics Market Segment Overview
Based on Device type, the Power Module is the largest segment in the global Power Electronics market. High power efficiency requirements from several applications boost the demand for power modules. Government initiatives to increase the adoption of EV/HEV, increasing electrification in the automotive industry, inclined trends of clean energy generation, an increasing number of charging stations, rising industrialization, growing adoption of intelligent modules in consumer appliances, and industrial automation & Industry 4.0 are the major factors propelling the growth of the Power Module segment. According to End-User, the Automotive & transportation segment is expected to dominate this market in the forecast period. This is because of the increasing focus on hybrid electric vehicles (HEVs) and EVs and the growing demand for cars and other passenger vehicles in developing regions.
Power Electronics Market, By Device type
- Power Discrete
- Diode
- Transistors
- Thyristor
- Power Module
- Intelligent Power Module
- Standard & Power Integrated Module
- Other Modules
- Power IC
· Silicon (Si)
· Silicon Carbide (SiC)
· Gallium Nitride (GaN)
Power Electronics Market, By Voltage
· Low Voltage
· Medium Voltage
· High Voltage
Power Electronics Market, By End-User
· ICT
· Consumer Electronics
· Energy & Power
· Automotive & Transportation
· Aerospace & Defense
· Others
Power Electronics Market Regional Overview
Geographically, Asia Pacific is expected to be the most attractive region for Power Electronics market during the forecast period. This is mainly due to the rapid development of consumer electronics products, which drives the power IC market. Consumer electronics, industrial, and automotive are among important verticals in the APAC market. In addition, renewable energy generation is one of the key factors that boost the growth of the market in APAC. Governments of several countries of the region are focusing on renewable energy generation, mainly photovoltaics or solar, in the form of many offers and subsidies. Furthermore, several countries in APAC have set targets to upsurge the adoption of electric vehicles to reduce pollution levels. Hence, the fast-track adoption of electric vehicles across the region is also a key factor that propels the growth of the power electronics market.
Power Electronics Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Power Electronics Market, Key Players
· ABB Group
· Fuji Electric Co, LTD
· Infineon Technologies AG
· Microsemi Corporation
· Mitsubishi
· Renesas Electronics Corporation
· Rockwell Automation
· STMicroelectronics
· Texas Instruments Incorporated
· Toshiba Corporation
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Power Electronics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Device type
- 5.2.1. Power Discrete
- 5.2.1.1. Diode
- 5.2.1.2. Transistors
- 5.2.1.3. Thyristor
- 5.2.2. Power Module
- 5.2.2.1. Intelligent Power Module
- 5.2.2.2. Standard & Power Integrated Module
- 5.2.2.3. Other Modules
- 5.2.3. Power IC
- 5.2.1. Power Discrete
- 5.3. Market Analysis, Insights and Forecast – By Material
- 5.3.1. Silicon (Si)
- 5.3.2. Silicon Carbide (SiC)
- 5.3.3. Gallium Nitride (GaN)
- 5.4. Market Analysis, Insights and Forecast – By Voltage
- 5.4.1. Low Voltage
- 5.4.2. Medium Voltage
- 5.4.3. High Voltage
- 5.5. Market Analysis, Insights and Forecast – By End-User
- 5.5.1. ICT
- 5.5.2. Consumer Electronics
- 5.5.3. Energy & Power
- 5.5.4. Automotive & Transportation
- 5.5.5. Aerospace & Defense
- 5.5.6. Others
- 5.6. Market Analysis, Insights and Forecast – By Region
- 5.6.1. North America
- 5.6.2. Europe
- 5.6.3. Asia Pacific
- 5.6.4. Latin America, Middle East and Africa
6. North America Power Electronics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Device type
- 6.2.1. Power Discrete
- 6.2.1.1. Diode
- 6.2.1.2. Transistors
- 6.2.1.3. Thyristor
- 6.2.2. Power Module
- 6.2.2.1. Intelligent Power Module
- 6.2.2.2. Standard & Power Integrated Module
- 6.2.2.3. Other Modules
- 6.2.3. Power IC
- 6.2.1. Power Discrete
- 6.3. Market Analysis, Insights and Forecast – By Material
- 6.3.1. Silicon (Si)
- 6.3.2. Silicon Carbide (SiC)
- 6.3.3. Gallium Nitride (GaN)
- 6.4. Market Analysis, Insights and Forecast – By Voltage
- 6.4.1. Low Voltage
- 6.4.2. Medium Voltage
- 6.4.3. High Voltage
- 6.5. Market Analysis, Insights and Forecast – By End-User
- 6.5.1. ICT
- 6.5.2. Consumer Electronics
- 6.5.3. Energy & Power
- 6.5.4. Automotive & Transportation
- 6.5.5. Aerospace & Defense
- 6.5.6. Others
- 6.6. Market Analysis, Insights and Forecast – By Country
- 6.6.1. U.S.
- 6.6.2. Canada
7. Europe Power Electronics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Device type
- 7.2.1. Power Discrete
- 7.2.1.1. Diode
- 7.2.1.2. Transistors
- 7.2.1.3. Thyristor
- 7.2.2. Power Module
- 7.2.2.1. Intelligent Power Module
- 7.2.2.2. Standard & Power Integrated Module
- 7.2.2.3. Other Modules
- 7.2.3. Power IC
- 7.2.1. Power Discrete
- 7.3. Market Analysis, Insights and Forecast – By Material
- 7.3.1. Silicon (Si)
- 7.3.2. Silicon Carbide (SiC)
- 7.3.3. Gallium Nitride (GaN)
- 7.4. Market Analysis, Insights and Forecast – By Voltage
- 7.4.1. Low Voltage
- 7.4.2. Medium Voltage
- 7.4.3. High Voltage
- 7.5. Market Analysis, Insights and Forecast – By End-User
- 7.5.1. ICT
- 7.5.2. Consumer Electronics
- 7.5.3. Energy & Power
- 7.5.4. Automotive & Transportation
- 7.5.5. Aerospace & Defense
- 7.5.6. Others
- 7.6. Market Analysis, Insights and Forecast – By Country
- 7.6.1. UK
- 7.6.2. Germany
- 7.6.3. France
- 7.6.4. Italy
- 7.6.5. Spain
- 7.6.6. Russia
- 7.6.7. Rest of Europe
8. Asia Pacific Power Electronics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Device type
- 8.2.1. Power Discrete
- 8.2.1.1. Diode
- 8.2.1.2. Transistors
- 8.2.1.3. Thyristor
- 8.2.2. Power Module
- 8.2.2.1. Intelligent Power Module
- 8.2.2.2. Standard & Power Integrated Module
- 8.2.2.3. Other Modules
- 8.2.3. Power IC
- 8.2.1. Power Discrete
- 8.3. Market Analysis, Insights and Forecast – By Material
- 8.3.1. Silicon (Si)
- 8.3.2. Silicon Carbide (SiC)
- 8.3.3. Gallium Nitride (GaN)
- 8.4. Market Analysis, Insights and Forecast – By Voltage
- 8.4.1. Low Voltage
- 8.4.2. Medium Voltage
- 8.4.3. High Voltage
- 8.5. Market Analysis, Insights and Forecast – By End-User
- 8.5.1. ICT
- 8.5.2. Consumer Electronics
- 8.5.3. Energy & Power
- 8.5.4. Automotive & Transportation
- 8.5.5. Aerospace & Defense
- 8.5.6. Others
- 8.6. Market Analysis, Insights and Forecast – By Country
- 8.6.1. China
- 8.6.2. India
- 8.6.3. Japan
- 8.6.4. Australia
- 8.6.5. South East Asia
- 8.6.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Power Electronics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Device type
- 9.2.1. Power Discrete
- 9.2.1.1. Diode
- 9.2.1.2. Transistors
- 9.2.1.3. Thyristor
- 9.2.2. Power Module
- 9.2.2.1. Intelligent Power Module
- 9.2.2.2. Standard & Power Integrated Module
- 9.2.2.3. Other Modules
- 9.2.3. Power IC
- 9.2.1. Power Discrete
- 9.3. Market Analysis, Insights and Forecast – By Material
- 9.3.1. Silicon (Si)
- 9.3.2. Silicon Carbide (SiC)
- 9.3.3. Gallium Nitride (GaN)
- 9.4. Market Analysis, Insights and Forecast – By Voltage
- 9.4.1. Low Voltage
- 9.4.2. Medium Voltage
- 9.4.3. High Voltage
- 9.5. Market Analysis, Insights and Forecast – By End-User
- 9.5.1. ICT
- 9.5.2. Consumer Electronics
- 9.5.3. Energy & Power
- 9.5.4. Automotive & Transportation
- 9.5.5. Aerospace & Defense
- 9.5.6. Others
- 9.6. Market Analysis, Insights and Forecast – By Country
- 9.6.1. Brazil
- 9.6.2. Saudi Arabia
- 9.6.3. UAE
- 9.6.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. ABB Group
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Fuji Electric Co, LTD
- 10.6. Infineon Technologies AG
- 10.7. Microsemi Corporation
- 10.8. Mitsubishi
- 10.9. Renesas Electronics Corporation
- 10.10. Rockwell Automation
- 10.11. STMicroelectronics
- 10.12. Texas Instruments Incorporated
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
