Power electronics is a branch of electronics engineering that deals with the processing of high voltages and currents in order to provide power for a variety of applications. All of these areas, from household electronics to space-related equipment, require consistent and dependable electric power that meets the required criteria.
Power Electronics Market Report Scope and Research Methodology:
This study goes into great detail about demand projections, market trends, and micro and macro variables. The report also discusses the factors that are driving and restraining the growth of the Power Electronics market. The SMR Matrix informs existing and new market participants about potential investment opportunities. To provide market insights, the research employs analytical methodologies such as Porter’s five forces analysis and the PESTLE of the Power Electronics market. Furthermore, the study investigates current market trends as well as forecasts for the years 2022-2029. The analysis also includes key upcoming developments that are expected to have an impact on demand during the forecast period. The bottom-up approach was used to estimate the size of the Power Electronics market.
Power Electronics Market Overview:
The report examines the Power Electronics market in depth, with a focus on market dynamics, competitive scenario, regional growth, segment-wise analysis, and key growth strategies. The market is divided into regions. The analysis includes a thorough examination of the Power Electronics market size and share across a wide range of industry verticals.
Power Electronics Market size was valued at US$ 35.4 Billion in 2020 and the total Power Electronics revenue is expected to grow at 5.7% through 2021 to 2027, reaching nearly US$ 52.18 Billion.
Key Players:
The market’s leading players are embracing various growth strategies, such as partnerships and strategic alliances, as well as new product launches, to increase their presence in emerging markets and, ultimately, to broaden their customer base.
Analog Devices (US)
Hitachi (Japan)
Infineon Technologies (Germany)
STMicroelectronics (Switzerland)
Mitsubishi Electric (Japan)
Fuji Electric (Japan)
NXP Semiconductors (Netherlands)
Renesas Electronics (Japan)
Toshiba (Japan)
ABB (Switzerland)
GaN Systems (Canada)
Microchip (US)
ROHM (Japan)
SEMIKRON (Germany)
Transphorm (US)
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Power Electronics Market Dynamics:
One of the major drivers of the power electronics market is the advancement of the electric vehicle industry. Power electronics devices are used in a variety of modern automobile components, including the starter motor, windscreen wiper controller, adjustable front illumination, luminaires, and power transmission steering. As the number of electric and hybrid vehicles increases, power electronics devices are expected to play an important role in energy conservation in electric vehicles. In hybrid and plug-in electric vehicles, vehicle power systems process and manage the energy flow as well as the speed-torque generated by the motor.
Power Electronics Market Regional Analysis:
Thanks to the geographical insights in the reports, readers will be well-informed on the Power Electronics market on a regional level. A detailed awareness of local energy, economic, political, and geographic factors is required for any meaningful assessment of potential policy options in response to market change. The study provides readers with regional perspectives on Power Electronics market and local growth potential, as well as domestic area restraints.
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (the United States, Mexico, and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC Countries and Egypt.)
Power Electronics Market Segmentation:
The growing popularity of household gadgets such as smartphones, laptops, and wearable electronics, particularly in emerging markets, is expected to drive demand for power electronics. The increasing use of power electronics in household appliances is expected to contribute to the segment’s growth in the power electronics market. Original Equipment Manufacturers in China and South Korea, such as Samsung and Huawei, are using Gallium Nitride power electronics products for high-wattage internal adapters for handsets and supplementary fast chargers.
Power Electronics Market Key Competitors:
To meet the demand for tiny, accessible, and multipurpose products, parts and subsystems must be downsized to reduce production costs. Businesses invest continuously in R&D to innovate goods and improve brand choices in order to remain competitive in the industry. Because of the unpredictability associated with the life span of existing technologies or goods, the constant drive for more compressed devices may be an impediment, as it does not justify the ROI.
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Key Questions answered in the Power Electronics Market Report are:
- What are the current trends that may negatively impact the Power Electronics market?
- How will the major segments of this international Power Electronics market develop over the next few years?
- Who are the major players that are expected to dominate the Power Electronics market in the future?
- What is the growth forecast for Power Electronics market?
- Which region is expected to hold the largest Power Electronics market share?
About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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