HOME › Press Releases › Power Electronics Market worth 41.73 Billion USD by 2022
Power Electronics Market worth 41.73 Billion USD by 2022
According to the new market research report on the "Power Electronics Market by Material (Silicon, SiC, GaN, Sapphire), Device Type (Discrete, Module, and IC), Vertical (ICT, Consumer Electronics, Power, Industrial, Automotive, and Aerospace and Defense), and Geography - Global Forecast to 2022", this market is expected to be valued at USD 41.73 billion by 2022, at a CAGR of 2.4% between 2016 and 2022. The major factors driving the growth of the power electronics market include increasing demand for energy-efficient battery-powered portable devices, rising trend of energy harvesting technologies, enhancement of power infrastructure, and the growing focus toward using renewable power sources.
Browse 65 market data tables and 65 figures spread through 169 pages and in-depth TOC on “Power Electronics Market - Global Forecast to 2022”
Early buyers will receive 10% customization on reports.
Silicon expected to have the largest market size by 2022
Silicon accounted for the largest share of the power electronics market based on material segment in 2015. The growth of this market can be attributed to the applicability of silicon in various power electronics devices and products.
Power IC market to grow at the highest rate during the forecast period
The power electronics market for IC based on device type segment is expected to grow at the highest rate during the forecast period. Increasing application of power ICs in radio frequency (RF), high-frequency wireless communication, radio detection and ranging (RADAR), satellite communication, electronic warfare, radio communication, and microwave radiation fields is expected to drive the growth of this market during 2016–2022.
Automotive vertical in power electronics to grow at the highest rate during the forecast period
The power electronics market for automotive based on vertical is expected to grow at the highest rate between 2016 and 2022. This high market growth rate can be attributed to the increasing adoption of energy efficient hybrid electronic cars because of the increasing concern over environmental pollution and saving energy.
APAC expected to hold the largest share of the power electronics market during the forecast period
Asia-Pacific (APAC) is expected to hold the largest share of the power electronics market during 2016–2022. The high growth of this market can be attributed to the emergence of APAC as a strong manufacturing hub with leading manufacturers of consumer goods increasing their manufacturing activities in this region. Cost advantages and initiatives by different countries in this region are expected to boost the domestic manufacturing and provide further impetus for the growth of the power electronics market.
The report also profiles the most promising players in the power electronics market. The competitive landscape of this market presents an interesting picture where a large number of big and small players have become a force to reckon with. The key players in this market are Infineon Technologies AG (Germany), Texas Instruments, Inc. (U.S.), ON Semiconductor Corp. (U.S.), STMicroelectronics N.V. (Switzerland), Maxim Integrated Products, Inc. (U.S.), Fuji Electric Co., Ltd. (Japan), NXP Semiconductors N.V. (The Netherland), Qualcomm, Inc. (U.S), Vishay Intertechnology, Inc. (U.S.), Renesas Electronics Corp. (Japan), and Mitsubishi Electric Corp. (Japan).
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India