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 switches and regulatory systems convert power from one form to another, resulting in properly regulated power.
Power Electronics Market Report Scope and Research Methodology:
The report’s main goal is to provide a comprehensive analysis of the Power Electronics market in simple language, including both qualitative and quantitative data. It also provides an in-depth analysis of the most recent trends in each segment from 2022 to 2027, as well as a thorough examination of the Power Electronics market drivers, restraints, challenges, and opportunities. The report examines all major aspects of the Power Electronics market, including a value chain analysis, PESTLE analysis, Porter’s Five Forces model, market forecasts in terms of value competitive landscape, key players benchmarking, market dynamics, and future market trends.
The bottom-up method was used to estimate the size of the and regional Power Electronics markets. The data was gathered using both primary and secondary research methods, and the data was gathered using both methodologies to obtain accurate and error-free findings on the Power Electronics market. Interviews with industry participants, subject-matter experts, high-level executives of key market players, industry consultants, and other experts were conducted as part of the primary research. Secondary research includes gathering data from a pre-selected set of sources for the Power Electronics market report. The report’s PESTLE analysis aids in the development of company strategies in the Power Electronics industry. The Power Electronics Market’s strengths and weaknesses were determined using a SWOT analysis.
Power Electronics Market Report Overview:
Stellar Market Research has published reports that assist clients in understanding the landscape of the Power Electronics Market in which the client competes. The report provides market insights to help clients understand future demand for their product and how competitive the Power Electronics Market is likely to be. The Power Electronics market overview provides comprehensive information about the market’s size, trade statistics, leading players, and various market metrics such as life cycle, trends, and so on.
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.
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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 Segmentation:
In 2020, the consumer electronics vertical held the largest market share. During the forecast period, it is expected to grow at a CAGR of 6.7%.
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.
The internationally incorporated automobile industry is expected to have the greatest impact during the projection period. Facility shutdowns, interruptions in distribution networks, and a lack of user trust have all hampered the efficiency of power electronics in the automotive industry. The consumer electronics industry has also been impacted by the drop in electronics output caused by the breakdown of the automobile industry.
The 5G standard, which is currently being implemented, promises transformative advances in connectivity and communications. It does, however, put a significantly greater strain on the power electronics equipment that powers it. Higher power efficiency will be required as the number of 5G ground stations built grows. The new frequencies may have an impact on battery performance. This increases market demand and necessitates the development of novel approaches that reduce power consumption while increasing performance.
Power Electronics Market Key Players:
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)
Power Electronics Market Regional Insights:
The report’s Regional Analysis assists in understanding the Power Electronics market in various countries. Political, geographic, purchasing behaviour, and other factors influence the Power Electronics market in each region. Local development plans are frequently influenced by the performance of the Power Electronics market. The report includes a thorough examination of all factors, including market size, growth rate, and import and export in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Key questions answered in the Power Electronics Market are:
Key Offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients 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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