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Power Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

November 2023 | 138 pages | ID: P59F30446549EN
IMARC Group

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The global power electronics market size reached US$ 29.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.06% during 2022-2028.

Power electronics involves the study, analysis, and design of circuits that convert electrical energy from one form to another. It is widely utilized in consumer electronics, such as television (TV) sets, personal computers (PCs), and battery chargers. Nowadays, several manufacturers are introducing modern power electronics wherein electric power is converted using semiconductor switching devices. Some of these switching devices include diodes, thyristors, and power metal-oxide-semiconductor field-effect transistor (MOSFET) and insulated-gate bipolar transistor (IGBT).

Power Electronics Market Trends:
The increasing reliance on consumer electronics on account of rapid urbanization and rising disposable incomes represents one of the key factors positively influencing the application of power electronics in fan regulators, light dimmers, air conditioners, induction cooking, emergency lights, vacuum cleaners, and uninterrupted power systems (UPS). In addition, the rising adoption of electronic devices, such as pumps, blowers, elevators, rotary kilns, arc furnaces, and compressors, in textile mills and other manufacturing units is fueling the market growth. Apart from this, it is employed in the automotive industry to enable electric power steering, interior lighting, braking system, seat control, and central body control in vehicles. This, in confluence with the escalating demand for safe, luxurious, and smart vehicles with integrated infotainment systems, is contributing to market growth. Furthermore, the growing construction and mining activities are driving the usage of power electronics in off-the-road (OTR) vehicles. It is also gaining traction in the defense, aeronautics, and spacecraft industries worldwide to supply power and advance control in aircraft, satellites, missiles, space shuttles, and unmanned aerial vehicles (UAVs). Moreover, the surging need for renewable energy sources on account of inflating prices of conventional energy sources and rising environmental concerns is expanding the applications of power electronics in solar and wind panels.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global power electronics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on device, material, application, voltage and end use industry.

Breakup by Device:

Power Discrete
Diode
Transistors
Thyristor
Power Modules
Intelligent Power Module
Power Integrated Module
Power ICs
Power Management Integrated Circuit
Application-Specific Integrated Circuit

Breakup by Material:

Silicon
Sapphire
Silicon Carbide
Gallium Nitride
Others

Breakup by Application:

Power Management
UPS
Renewable
Others

Breakup by Voltage:

Low Voltage
Medium Voltage
High Voltage

Breakup by End Use Industry:

Automotive
Military and Aerospace
Energy and Power
IT and Telecommunication
Consumer Electronics
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Analog Devices Inc., Fuji Electric Co. Ltd., Infineon Technologies AG, Microchip Technology Inc., Mitsubishi Electric Corporation, NXP Semiconductors N.V., Renesas Electronics Corporation, ROHM Co. Ltd., STMicroelectronics, Texas Instruments Incorporated, Toshiba Corporation and Vishay Intertechnology Inc.

Key Questions Answered in This Report:
How has the global power electronics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global power electronics market?
What are the key regional markets?
What is the breakup of the market based on the device?
What is the breakup of the market based on the material?
What is the breakup of the market based on the application?
What is the breakup of the market based on the voltage?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global power electronics market and who are the key players?
What is the degree of competition in the industry?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL POWER ELECTRONICS MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY DEVICE

6.1 Power Discrete
  6.1.1 Market Trends
  6.1.2 Key Segments
    6.1.2.1 Diode
    6.1.2.2 Transistors
    6.1.2.3 Thyristor
  6.1.3 Market Forecast
6.2 Power Modules
  6.2.1 Market Trends
  6.2.2 Key Segments
    6.2.2.1 Intelligent Power Module
    6.2.2.2 Power Integrated Module
  6.2.3 Market Forecast
6.3 Power ICs
  6.3.1 Market Trends
  6.3.2 Key Segments
    6.3.2.1 Power Management Integrated Circuit (PMIC)
    6.3.2.2 Application-Specific Integrated Circuit (ASIC)
  6.3.3 Market Forecast

7 MARKET BREAKUP BY MATERIAL

7.1 Silicon
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Sapphire
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Silicon Carbide
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Gallium Nitride
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Others
  7.5.1 Market Trends
  7.5.2 Market Forecast

8 MARKET BREAKUP BY APPLICATION

8.1 Power Management
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 UPS
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Renewable
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Others
  8.4.1 Market Trends
  8.4.2 Market Forecast

9 MARKET BREAKUP BY VOLTAGE

9.1 Low Voltage
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Medium Voltage
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 High Voltage
  9.3.1 Market Trends
  9.3.2 Market Forecast

10 MARKET BREAKUP BY END USE INDUSTRY

10.1 Automotive
  10.1.1 Market Trends
  10.1.2 Market Forecast
10.2 Military and Aerospace
  10.2.1 Market Trends
  10.2.2 Market Forecast
10.3 Energy and Power
  10.3.1 Market Trends
  10.3.2 Market Forecast
10.4 IT and Telecommunication
  10.4.1 Market Trends
  10.4.2 Market Forecast
10.5 Consumer Electronics
  10.5.1 Market Trends
  10.5.2 Market Forecast
10.6 Others
  10.6.1 Market Trends
  10.6.2 Market Forecast

11 MARKET BREAKUP BY REGION

11.1 North America
  11.1.1 United States
    11.1.1.1 Market Trends
    11.1.1.2 Market Forecast
  11.1.2 Canada
    11.1.2.1 Market Trends
    11.1.2.2 Market Forecast
11.2 Asia-Pacific
  11.2.1 China
    11.2.1.1 Market Trends
    11.2.1.2 Market Forecast
  11.2.2 Japan
    11.2.2.1 Market Trends
    11.2.2.2 Market Forecast
  11.2.3 India
    11.2.3.1 Market Trends
    11.2.3.2 Market Forecast
  11.2.4 South Korea
    11.2.4.1 Market Trends
    11.2.4.2 Market Forecast
  11.2.5 Australia
    11.2.5.1 Market Trends
    11.2.5.2 Market Forecast
  11.2.6 Indonesia
    11.2.6.1 Market Trends
    11.2.6.2 Market Forecast
  11.2.7 Others
    11.2.7.1 Market Trends
    11.2.7.2 Market Forecast
11.3 Europe
  11.3.1 Germany
    11.3.1.1 Market Trends
    11.3.1.2 Market Forecast
  11.3.2 France
    11.3.2.1 Market Trends
    11.3.2.2 Market Forecast
  11.3.3 United Kingdom
    11.3.3.1 Market Trends
    11.3.3.2 Market Forecast
  11.3.4 Italy
    11.3.4.1 Market Trends
    11.3.4.2 Market Forecast
  11.3.5 Spain
    11.3.5.1 Market Trends
    11.3.5.2 Market Forecast
  11.3.6 Russia
    11.3.6.1 Market Trends
    11.3.6.2 Market Forecast
  11.3.7 Others
    11.3.7.1 Market Trends
    11.3.7.2 Market Forecast
11.4 Latin America
  11.4.1 Brazil
    11.4.1.1 Market Trends
    11.4.1.2 Market Forecast
  11.4.2 Mexico
    11.4.2.1 Market Trends
    11.4.2.2 Market Forecast
  11.4.3 Others
    11.4.3.1 Market Trends
    11.4.3.2 Market Forecast
11.5 Middle East and Africa
  11.5.1 Market Trends
  11.5.2 Market Breakup by Country
  11.5.3 Market Forecast

12 SWOT ANALYSIS

12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats

13 VALUE CHAIN ANALYSIS

14 PORTERS FIVE FORCES ANALYSIS

14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes

15 PRICE ANALYSIS

16 COMPETITIVE LANDSCAPE

16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
  16.3.1 ABB Ltd.
    16.3.1.1 Company Overview
    16.3.1.2 Product Portfolio
    16.3.1.3 Financials
    16.3.1.4 SWOT Analysis
  16.3.2 Analog Devices Inc.
    16.3.2.1 Company Overview
    16.3.2.2 Product Portfolio
    16.3.2.3 Financials
    16.3.2.4 SWOT Analysis
  16.3.3 Fuji Electric Co. Ltd.
    16.3.3.1 Company Overview
    16.3.3.2 Product Portfolio
    16.3.3.3 Financials
    16.3.3.4 SWOT Analysis
  16.3.4 Infineon Technologies AG
    16.3.4.1 Company Overview
    16.3.4.2 Product Portfolio
    16.3.4.3 Financials
    16.3.4.4 SWOT Analysis
  16.3.5 Microchip Technology Inc.
    16.3.5.1 Company Overview
    16.3.5.2 Product Portfolio
    16.3.5.3 Financials
    16.3.5.4 SWOT Analysis
  16.3.6 Mitsubishi Electric Corporation
    16.3.6.1 Company Overview
    16.3.6.2 Product Portfolio
    16.3.6.3 Financials
    16.3.6.4 SWOT Analysis
  16.3.7 NXP Semiconductors N.V.
    16.3.7.1 Company Overview
    16.3.7.2 Product Portfolio
    16.3.7.3 Financials
    16.3.7.4 SWOT Analysis
  16.3.8 Renesas Electronics Corporation
    16.3.8.1 Company Overview
    16.3.8.2 Product Portfolio
    16.3.8.3 Financials
    16.3.8.4 SWOT Analysis
  16.3.9 ROHM Co. Ltd.
    16.3.9.1 Company Overview
    16.3.9.2 Product Portfolio
    16.3.9.3 Financials
    16.3.9.4 SWOT Analysis
  16.3.10 STMicroelectronics
    16.3.10.1 Company Overview
    16.3.10.2 Product Portfolio
    16.3.10.3 Financials
    16.3.10.4 SWOT Analysis
  16.3.11 Texas Instruments Incorporated
    16.3.11.1 Company Overview
    16.3.11.2 Product Portfolio
    16.3.11.3 Financials
    16.3.11.4 SWOT Analysis
  16.3.12 Toshiba Corporation
    16.3.12.1 Company Overview
    16.3.12.2 Product Portfolio
    16.3.12.3 Financials
    16.3.12.4 SWOT Analysis
  16.3.13 Vishay Intertechnology Inc.
    16.3.13.1 Company Overview
    16.3.13.2 Product Portfolio
    16.3.13.3 Financials
    16.3.13.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Power Electronics Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Power Electronics Market Forecast: Breakup by Device (in Million US$), 2023-2028
Table 3: Global: Power Electronics Market Forecast: Breakup by Material (in Million US$), 2023-2028
Table 4: Global: Power Electronics Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Power Electronics Market Forecast: Breakup by Voltage (in Million US$), 2023-2028
Table 6: Global: Power Electronics Market Forecast: Breakup by End Use Industries (in Million US$), 2023-2028
Table 7: Global: Power Electronics Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 8: Global: Power Electronics Market: Competitive Structure
Table 9: Global: Power Electronics Market: Key Players

LIST OF FIGURES

Figure 1: Global: Power Electronics Market: Major Drivers and Challenges
Figure 2: Global: Power Electronics Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Power Electronics Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Power Electronics Market: Breakup by Device (in %), 2022
Figure 5: Global: Power Electronics Market: Breakup by Material (in %), 2022
Figure 6: Global: Power Electronics Market: Breakup by Application (in %), 2022
Figure 7: Global: Power Electronics Market: Breakup by Voltage (in %), 2022
Figure 8: Global: Power Electronics Market: Breakup by End Use Industry (in %), 2022
Figure 9: Global: Power Electronics Market: Breakup by Region (in %), 2022
Figure 10: Global: Power Electronics (Power Discrete) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Power Electronics (Power Discrete) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Power Electronics (Power Modules) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Power Electronics (Power Modules) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Power Electronics (Power ICs) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Power Electronics (Power ICs) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Power Electronics (Silicon) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Power Electronics (Silicon) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Power Electronics (Sapphire) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Power Electronics (Sapphire) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Power Electronics (Silicon Carbide) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Power Electronics (Silicon Carbide) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Power Electronics (Gallium Nitride) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Power Electronics (Gallium Nitride) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Power Electronics (Other Materials) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Power Electronics (Other Materials) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Power Electronics (Power Management) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Power Electronics (Power Management) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Power Electronics (UPS) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Power Electronics (UPS) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Power Electronics (Renewable) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Power Electronics (Renewable) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: Power Electronics (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: Power Electronics (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: Power Electronics (Low Voltage) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: Power Electronics (Low Voltage) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Global: Power Electronics (Medium Voltage) Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Global: Power Electronics (Medium Voltage) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Global: Power Electronics (High Voltage) Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Global: Power Electronics (High Voltage) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Global: Power Electronics (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Global: Power Electronics (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Global: Power Electronics (Military and Aerospace) Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Global: Power Electronics (Military and Aerospace) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Global: Power Electronics (Energy and Power) Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Global: Power Electronics (Energy and Power) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Global: Power Electronics (IT and Telecommunication) Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Global: Power Electronics (IT and Telecommunication) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Global: Power Electronics (Consumer Electronics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Global: Power Electronics (Consumer Electronics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Global: Power Electronics (Other End Use Industries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Global: Power Electronics (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: North America: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: North America: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: United States: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: United States: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Canada: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Canada: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Asia-Pacific: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Asia-Pacific: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: China: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: China: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Japan: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Japan: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: India: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: India: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: South Korea: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: South Korea: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Australia: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Australia: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Indonesia: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Indonesia: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Others: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Others: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Europe: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Europe: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Germany: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Germany: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: France: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: France: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: United Kingdom: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: United Kingdom: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Italy: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 83: Italy: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 84: Spain: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 85: Spain: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 86: Russia: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 87: Russia: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 88: Others: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 89: Others: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 90: Latin America: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 91: Latin America: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 92: Brazil: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 93: Brazil: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 94: Mexico: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 95: Mexico: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 96: Others: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 97: Others: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 98: Middle East and Africa: Power Electronics Market: Sales Value (in Million US$), 2017 & 2022
Figure 99: Middle East and Africa: Power Electronics Market: Breakup by Country (in %), 2022
Figure 100: Middle East and Africa: Power Electronics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 101: Global: Power Electronics Industry: SWOT Analysis
Figure 102: Global: Power Electronics Industry: Value Chain Analysis
Figure 103: Global: Power Electronics Industry: Porter's Five Forces Analysis


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