Power Electronics Market

Power Electronics Market Size, Share, Statistics and Industry Growth Analysis Report by Device Type (Power Discrete, Power Module, Power IC), Material (Si, SiC, GaN), Voltage (Low, Medium, High), Vertical (ICT, Consumer Electronics, Industrial, Automotive, Aerospace) and Geography - Global Forecast to 2028

Report Code: SE 2434 Nov, 2023, by marketsandmarkets.com

[285 Pages Report] The Power Electronics Market Size is projected to grow from USD 46.2 Billion in 2023 to USD 61.0 Billion by 2028; it is expected to grow at a CAGR of 5.7% from 2023 to 2028.

Power electronics involves using solid-state electronics to efficiently convert and control electric power from one form to another. These devices play a crucial role across diverse applications in sectors such as automotive and transportation, industrial, renewable energy, consumer electronics, and defense and aerospace.

Power Electronics Market

Power Electronics Market

Power Electronics Market Forecast to 2028

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Power Electronics Market Dynamics

Driver: Huge demand for power electronics in consumer, enterprises, and automotive vertical

The increasing emphasis on energy efficiency, technological advancements, the rise of smart systems, and the expanding use of electric vehicles (EVs) and portable devices are propelling a growing consumer demand for power electronics. This trend is expected to persist as consumers pursue more effective, interconnected, and eco-friendly solutions. Consumers are increasingly conscious of their energy consumption and its environmental impact. Various consumer devices, such as household appliances, HVAC systems, lighting, and consumer electronics, derive substantial benefits from the capacity of power electronics to enhance energy efficiency. This technology not only diminishes energy wastage but also enables reductions in electricity costs through efficient power conversion and control mechanisms.

Restraint: Complex design and integration process

The power electronics industry is witnessing a trend where key players are concentrating on consolidating various functions into a single chip, leading to complex designs. This complexity in design necessitates specific skill sets, a robust methodology, and a specialized toolset, consequently elevating the overall cost of the devices. As a result, the high cost is anticipated to impede the transition towards advanced technological devices. In parallel, advancing technologies are driving demand for the integration of more functionalities into System-on-Chips (SoCs), aiming to make devices smaller and more efficient. There is a notable emphasis on reducing power consumption in SoCs across various devices such as CPUs, GPUs, wearables, and mobile devices. Nevertheless, the intricate task of integrating multiple Integrated Circuits (ICs) into a single device, attributed to varying functionalities, operating modes, and voltages, is expected to hinder the power electronics market growth in the forecast period.

Opportunity: Growing investments by governments, private organizations, research institutes, and manufacturers to increase SiC production

SiC devices have gained attraction due to their distinct advantages over silicon-based devices. These devices operate at considerably higher speeds compared to silicon and possess additional properties and sensing capabilities, catering to the requirements of emerging technologies that demand ultra-high performance. Collaboration among various governments, private organizations, and research institutes is key in advancing SiC technology. Notably, the Solar Energy Technologies Office (SETO) is actively involved in supporting research and development (R&D) projects aimed at enhancing the understanding and utilization of SiC.

Challenge: Material defects and designing and packaging issues in SiC power devices

Increasing demand for compact and portable devices creates significant opportunities; however, a major issue faced by manufacturers is to meet the ever-changing needs of consumers for more compact devices. To cater to the demand for compact, portable, and multifunctional devices, components and systems need to be miniaturized to lower production costs. SiC materials contain micro-sized holes termed micropipes within their crystals. During the production of larger wafers for SiC devices, several defects, including dislocations, prototype inclusions, and stacking faults, may arise. These defects are a result of an imbalance in silicon and carbon precursors and local instability in pressure or temperature, significantly impacting the efficiency and electrical characteristics of the devices.

Power Electronics Market Ecosystem

The prominent players in the power electronics industry are Infineon Technologies AG (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric Corporation (Japan), Vishay Intertechnology, Inc. (US). These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks.

Power Electronics Market by Ecosystem

Power IC segment to account for the largest share of the power electronics market in 2022

Low-power integrated circuits (ICs) provide a combination of high efficiency and a compact form factor, making them well-suited for compact applications like wearables, sensors, IoT devices, and various portable devices, including mobile phones and other handheld electronics. Power ICs play a crucial role in tasks such as DC-to-DC conversion, battery charging, and voltage scaling, offering versatile applications across diverse industries. As a result, the power ICs market is anticipated to maintain the largest share throughout the forecast period.

Silicon-based power electronics to dominate power electronics market during the forecast period

Silicon-based power electronics have widespread applications spanning diverse industries and devices. Their versatility allows for customization to perform various functions such as rectification, amplification, and switching in a broad range of electronic systems. The ease of integrating silicon-based devices into existing electronic systems is a valuable feature for manufacturers seeking to incorporate power electronics into a diverse array of products and applications.

Consumer electronics vertical to register the highest share for power electronics market in 2022

The consumer electronics segment is composed to command the largest market share throughout the forecast period. The increasing utilization of consumer electronic devices, particularly smartphones, tablets, and smart wearables, especially in developing nations, is expected to be a significant factor propelling the power electronics market share. Additionally, the growing integration of power electronics in household appliances is anticipated to make a substantial contribution to the market size of the consumer electronics segment.

The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.

The Asia Pacific region is projected to take the lead in the power electronics market, exhibiting the highest CAGR throughout the forecast period. The market's expansion in Asia Pacific can be attributed to the substantial presence of consumer electronics, Information and Communication Technology (ICT), industrial, and automotive sectors in countries like China, Japan, and South Korea. The growing demand for power generation and governmental initiatives in various Asia Pacific nations to encourage renewable energy infrastructure development play a important role in fueling the overall market. The increasing population in developing countries, particularly China and India, leading to a surge in the deployment of communication infrastructure, is anticipated to further stimulate market growth for power electronics in the region. The Asia Pacific market benefits from the presence of well-established power electronics players like Renesas Electronics Corporation, Mitsubishi Electric Corporation, Fuji Electric Co., Ltd., and TOSHIBA CORPORATION, contributing significantly to regional market expansion. Additionally, the emergence of Chinese players such as BYO, Huawei, CRRC, and Sungrow is reinforcing China's domestic market for power electronics. These factors collectively are driven to fuel the growth of the power electronics market in the Asia Pacific region.

Power Electronics Market by Region

Power Electronics Market Statistics by Region

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Key Market Players

The major players in the power electronics companies include Infineon Technologies AG (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric Corporation (Japan), Vishay Intertechnology, Inc. (US), Fuji Electric Co., Ltd. (Japan), NXP Semiconductors (Netherlands), Renesas Electronics Corporation (Japan), Texas Instruments Incorporated (US), TOSHIBA CORPORATION (Japan). These companies have used organic and inorganic growth strategies, such as product launches, acquisitions, and partnerships, to strengthen their position in the market.

Power Electronics Market Report Scope

Report Metric

Details

Estimated Market Size in 2023

USD 46.2 Billion

Projected Market Size in 2028

USD 61.0 Billion

Growth Rate

CAGR of 5.7%

Market size available for years

2019—2028

Base year

2022

Forecast period

2023—2028

Forecast Units

USD Millions/USD Billions and Million Units

Segments Covered

By Device Type, By Material, By Voltage, By Current Level, By Wafer Size, By Application, By Vertical

Geographic regions covered

North America, Europe, Asia Pacific, and RoW

Companies covered

Infineon Technologies AG (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric Corporation (Japan), Vishay Intertechnology, Inc. (US), Fuji Electric Co., Ltd. (Japan), NXP Semiconductors (Netherlands), Renesas Electronics Corporation (Japan), Texas Instruments Incorporated (US), TOSHIBA CORPORATION (Japan), ABB (Switzerland), Littelfuse, Inc. (US), Analog Devices, Inc. (US), Microchip Technology Inc. (US),  ROHM CO., LTD. (Japan), Semikron (Germany), Transphorm Inc. (US), Qorvo, Inc  (US),  WOLFSPEED, INC. (US), Euclid Techlabs (US),  Navitas Semiconductor (US),   Efficient Power Conversion Corporation (US).

Power Electronics Market Highlights

This research report categorizes the Power Electronics Market based on device type, material, voltage, current level, wafer size, application, vertical, and region.

Segment

Subsegment

By Device Type

  • Introduction
  • Power Discrete
    • Diode
    • Transistors
    • Thyristor
  • Power Module
    • Intelligent Power Module
    • Standard and Power Integrated Module
      • MOSFET Module
      • IGBT Module
    • Other Modules
  • Power IC
    • Power Management IC
    • Application Specific IC

By Material

  • Introduction
  • Silicon (SI)
  • Silicon Carbide (SIC)
  • Gallium Nitride (GAN)

By Voltage

  • Introduction
  • Low Voltage
  • Medium Voltage
  • High Voltage

By Current Level

  • Introduction
  • Up To 25A
  • 25A To 40A
  • Above 40A

By Wafer Size

  • Introduction
  • 200 mm and Less Than 200 mm
  • Above 200 mm

By Application

  • Introduction
  • Power Management
  • Drives
  • UPS
  • Rail Traction
  • Transportation
  • Renewables
  • Others

By Vertical

  • Introduction
  • ICT
  • Consumer Electronics
  • Industrial
  • Automotive & Transportation
  • Aerospace & Defense
  • Others

By Region

  • Introduction
  • North America
    • Impact of Recession
    • US
    • Canada
    • Mexico
  • Europe
    • Impact of Recession
    • UK
    • Germany
    • France
    • Italy
    • Rest of the Europe
  • Asia Pacific
    • Impact of Recession
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • ROW
    • Impact of Recession
    • Middle East & Africa
      • GCC
      • Rest of MEA
    • South America

Recent Developments

  • In September 2023, STMicroelectronics introduced a new category of IGBTs featuring an enhanced breakdown-voltage capacity of 1350V and a maximum operating temperature of 175°C. These elevated specifications guarantee amplified design margins, resilient performance, and prolonged reliability across all operational scenarios.
  • In July 2023, Infineon Technologies AG expands its range of PQFN 2x2 mm² products, introducing top-tier OptiMOS power MOSFETs. Compact discrete power MOSFETs are essential for conserving space, reducing costs, and facilitating the design of user-friendly applications.
  • In June 2023, Mitsubishi Electric Corporation has introduced an innovative structure for a silicon carbide metal-oxide-semiconductor field-effect transistor (SiC-MOSFET) incorporating a Schottky barrier diode (SBD).
  • In March 2023, ON Semiconductor has introduced a novel series of highly efficient 1200 V insulated-gate bipolar transistors (IGBTs) designed to reduce conduction and switching losses, setting a new standard in performance within the industry.
  • In November 2022, Vishay Intertechnology, Inc. has presented seven new power modules, encompassing MOSFETs and diodes, built for on-board charger applications.

Frequently Asked Questions (FAQs):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 32)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 POWER ELECTRONICS MARKET: SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
           1.3.4 CURRENCY CONSIDERED
           1.3.5 UNITS CONSIDERED
    1.4 LIMITATIONS 
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
    1.7 IMPACT OF RECESSION 
 
2 RESEARCH METHODOLOGY (Page No. - 37)
    2.1 RESEARCH DATA 
           FIGURE 2 POWER ELECTRONICS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primary interviews
                    2.1.2.2 Primary interview with experts
                    2.1.2.3 List of key primary interview participants
                    2.1.2.4 Key data from primary sources
                    2.1.2.5 Key industry insights
    2.2 SECONDARY AND PRIMARY RESEARCH 
           FIGURE 3 POWER ELECTRONICS MARKET: RESEARCH APPROACH
    2.3 FACTOR ANALYSIS 
           2.3.1 SUPPLY-SIDE ANALYSIS
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH (SUPPLY-SIDE ANALYSIS)—REVENUE GENERATED BY COMPANIES FROM SALES OF POWER ELECTRONIC PRODUCTS
    2.4 MARKET SIZE ESTIMATION 
           FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
           2.4.1 BOTTOM-UP APPROACH
                    2.4.1.1 Approach to estimate market size using bottom-up analysis (demand side)
                               FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.4.2 TOP-DOWN APPROACH
                    2.4.2.1 Approach to estimate market size using top-down analysis (supply side)
                               FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.5 DATA TRIANGULATION 
           FIGURE 8 DATA TRIANGULATION
    2.6 RESEARCH ASSUMPTIONS AND LIMITATIONS 
           2.6.1 ASSUMPTIONS
           2.6.2 GROWTH PROJECTION AND FORECAST-RELATED ASSUMPTIONS
                    TABLE 1 POWER ELECTRONICS MARKET: GROWTH ASSUMPTIONS
           2.6.3 LIMITATIONS
    2.7 RISK ASSESSMENT 
           TABLE 2 POWER ELECTRONICS MARKET: RISK ASSESSMENT
    2.8 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON POWER ELECTRONICS MARKET 
 
3 EXECUTIVE SUMMARY (Page No. - 50)
    FIGURE 9 POWER ELECTRONICS MARKET, 2019–2028 (USD BILLION)
    FIGURE 10 POWER MODULE SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 11 SILICON-BASED POWER ELECTRONICS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2028
    FIGURE 12 CONSUMER ELECTRONICS SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2028
    FIGURE 13 POWER ELECTRONICS MARKET IN ASIA PACIFIC TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 55)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN POWER ELECTRONICS MARKET 
           FIGURE 14 INCREASED DEMAND FOR POWER ELECTRONICS FROM AUTOMOTIVE & TRANSPORTATION AND CONSUMER ELECTRONICS VERTICALS TO DRIVE MARKET
    4.2 POWER ELECTRONICS MARKET, BY DEVICE TYPE 
           FIGURE 15 POWER INTEGRATED CIRCUIT (IC) SEGMENT TO HOLD LARGEST MARKET SHARE IN 2028
    4.3 POWER ELECTRONICS MARKET, BY VOLTAGE LEVEL 
           FIGURE 16 LOW-VOLTAGE POWER ELECTRONICS SEGMENT TO DOMINATE MARKET IN 2028
    4.4 POWER ELECTRONICS MARKET, BY MATERIAL AND VERTICAL 
           FIGURE 17 SILICON AND CONSUMER ELECTRONICS SEGMENTS TO HOLD LARGEST MARKET SHARES IN 2023
    4.5 POWER ELECTRONICS MARKET, BY REGION 
           FIGURE 18 ASIA PACIFIC TO RECORD HIGHEST CAGR IN POWER ELECTRONICS MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 58)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 19 POWER ELECTRONICS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Widespread adoption of renewable power sources
                    5.2.1.2 Rapid development of electric vehicles
                               FIGURE 20 BATTERY ELECTRIC VEHICLE SALES, 2020–2022
                    5.2.1.3 Growing demand for energy-efficient power electronics in consumer electronics industry and enterprises
                               FIGURE 21 IMPACT OF DRIVERS ON POWER ELECTRONICS MARKET
           5.2.2 RESTRAINT
                    5.2.2.1 High cost of designing and complexities associated with integrating multiple functionalities into single chip
                               FIGURE 22 IMPACT OF RESTRAINTS ON POWER ELECTRONICS MARKET
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Emergence of wide bandgap semiconductor materials
                    5.2.3.2 Growing adoption of SiC power switches attributed to substantial government investments in EV charging infrastructure
                               FIGURE 23 IMPACT OF OPPORTUNITIES ON POWER ELECTRONICS MARKET
           5.2.4 CHALLENGES
                    5.2.4.1 Difficulties in designing and packaging SiC power devices
                               FIGURE 24 IMPACT OF CHALLENGES ON POWER ELECTRONICS MARKET
    5.3 VALUE CHAIN ANALYSIS 
           FIGURE 25 POWER ELECTRONICS MARKET: VALUE CHAIN ANALYSIS
    5.4 ECOSYSTEM/MARKET MAP 
           FIGURE 26 KEY PLAYERS IN POWER ELECTRONICS ECOSYSTEM
           TABLE 3 ROLE OF PARTICIPANTS IN POWER ELECTRONICS ECOSYSTEM
           5.4.1 COMPONENT SUPPLIERS
           5.4.2 MANUFACTURERS
           5.4.3 DISTRIBUTORS
           5.4.4 OEMS
    5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
           FIGURE 27 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
    5.6 TECHNOLOGY ANALYSIS 
           5.6.1 300 MM WAFERS
           5.6.2 SIC AND GAN MATERIALS
    5.7 PRICING ANALYSIS 
           FIGURE 28 AVERAGE SELLING PRICE TREND OF POWER ELECTRONICS, BY DEVICE TYPE, 2019–2028
           TABLE 4 INDICATIVE PRICE OF POWER ELECTRONICS OFFERED BY KEY PLAYERS, BY DEVICE TYPE, 2022
    5.8 CASE STUDY ANALYSIS 
           5.8.1 SEMIPOWEREX DEVELOPED OPTIMIZED SIC POWER MODULES FOR STABLE OPERATION AT HIGH FREQUENCIES WITH ASSISTANCE FROM UNITEDSIC
           5.8.2 CORSAIR DEPLOYED GAN FETS BY TRANSPHORM TO OFFER HIGH-PERFORMANCE POWER SUPPLY UNITS
           5.8.3 DELTA ELECTRONICS POWERED DATA CENTERS WITH GALLIUM NITRIDE FROM TEXAS INSTRUMENTS INCORPORATED
    5.9 PATENT ANALYSIS 
           TABLE 5 LIST OF PATENTS PERTAINING TO POWER ELECTRONICS, 2020–2023
           FIGURE 29 NUMBER OF PATENTS GRANTED PERTAINING TO POWER ELECTRONICS, 2012–2022
    5.10 TRADE ANALYSIS 
           5.10.1 IMPORT SCENARIO
                    FIGURE 30 IMPORT DATA FOR HS CODE 8541-COMPLIANT PRODUCTS FOR KEY COUNTRIES, 2018–2022 (USD MILLION)
                    TABLE 6 IMPORT DATA FOR HS CODE 8541-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
           5.10.2 EXPORT SCENARIO
                    FIGURE 31 EXPORT DATA FOR HS CODE 8541-COMPLIANT PRODUCTS FOR KEY COUNTRIES, 2018–2022 (USD MILLION)
                    TABLE 7 EXPORT DATA FOR HS CODE 8541-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
    5.11 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 8 POWER ELECTRONICS MARKET: PORTER’S FIVE FORCES ANALYSIS
           FIGURE 32 POWER ELECTRONICS MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.11.1 INTENSITY OF COMPETITIVE RIVALRY
           5.11.2 BARGAINING POWER OF SUPPLIERS
           5.11.3 BARGAINING POWER OF BUYERS
           5.11.4 THREAT OF SUBSTITUTES
           5.11.5 THREAT OF NEW ENTRANTS
    5.12 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 33 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY VERTICAL
                    TABLE 9 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY VERTICAL (%)
           5.12.2 BUYING CRITERIA
                    FIGURE 34 KEY BUYING CRITERIA, BY VERTICAL
                    TABLE 10 KEY BUYING CRITERIA, BY VERTICAL
    5.13 KEY CONFERENCES AND EVENTS 
           TABLE 11 POWER ELECTRONICS MARKET: LIST OF KEY CONFERENCES AND EVENTS, 2023–2024
    5.14 TARIFF, STANDARD, AND REGULATORY LANDSCAPE 
           5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 12 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 14 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.14.2 STANDARDS
           5.14.3 TARIFF ANALYSIS
                    TABLE 15 TARIFF FOR HS CODE 8541-COMPLIANT PRODUCTS EXPORTED BY US (2022)
                    TABLE 16 TARIFF FOR HS CODE 8541-COMPLIANT PRODUCTS EXPORTED BY HONG KONG (2022)
 
6 POWER ELECTRONICS MARKET, BY DEVICE TYPE (Page No. - 85)
    6.1 INTRODUCTION 
           FIGURE 35 POWER MODULE SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 17 POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2019–2022 (USD BILLION)
           TABLE 18 POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2023–2028 (USD BILLION)
    6.2 POWER DISCRETE 
           6.2.1 INCREASING DEMAND FOR POWER DISCRETE DEVICES WITH HIGH-FREQUENCY SWITCHING TO ENHANCE EFFICIENCY IN VARIOUS APPLICATIONS TO FUEL SEGMENTAL GROWTH
                    TABLE 19 POWER DISCRETE: POWER ELECTRONICS MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 20 POWER DISCRETE: POWER ELECTRONICS MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 21 POWER DISCRETE: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2019–2022 (MILLION UNITS)
                    TABLE 22 POWER DISCRETE: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2023–2028 (MILLION UNITS)
                    TABLE 23 POWER DISCRETE: POWER ELECTRONICS MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
                    TABLE 24 POWER DISCRETE: POWER ELECTRONICS MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
           6.2.2 DIODE
                    6.2.2.1 Mounting type and diode packaging
                               6.2.2.1.1 Through-hole
                               6.2.2.1.2 Surface mount
                               6.2.2.1.3 Packaging categories
                    6.2.2.2 PIN diode
                    6.2.2.3 Zener diode
                    6.2.2.4 Schottky diode
                    6.2.2.5 Switching diode
                    6.2.2.6 Rectifier diode
           6.2.3 TRANSISTOR
                    6.2.3.1 Use of smart power transistors in augmenting system reliability and effective power management to propel segment
                               TABLE 25 POWER DISCRETE: POWER ELECTRONICS MARKET FOR TRANSISTOR, BY TYPE, 2019–2022 (USD MILLION)
                               TABLE 26 POWER DISCRETE: POWER ELECTRONICS MARKET FOR TRANSISTOR, BY TYPE, 2023–2028 (USD MILLION)
                    6.2.3.2 Field-effect transistor (FET)
                    6.2.3.3 Bipolar junction transistor (BJT)
                    6.2.3.4 Insulated gate bipolar transistor (IGBT)
                               6.2.3.4.1 NPT IGBT
                               6.2.3.4.2 PT IGBT
           6.2.4 THYRISTOR
    6.3 POWER MODULE 
           6.3.1 SIGNIFICANT ROLE IN ENSURING PRECISE CONTROL OVER SPEED OF ELECTRIC MOTORS IN INDUSTRIAL DRIVES TO BOOST SEGMENTAL GROWTH
                    TABLE 27 POWER MODULE: POWER ELECTRONICS MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
                    TABLE 28 POWER MODULE: POWER ELECTRONICS MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
           6.3.2 POWER MODULE, BY DEVICE TYPE
                    6.3.2.1 FET
                               6.3.2.1.1 MOSFET module
                                             6.3.2.1.1.1 MOSFET module, by type
                                                            6.3.2.1.1.1.1 N-channel
                                                            6.3.2.1.1.1.2 P-channel
                                             6.3.2.1.1.2 MOSFET module, by mode
                                                            6.3.2.1.1.2.1 Depletion mode
                                                            6.3.2.1.1.2.2 Enhancement mode
                    6.3.2.2 IGBT
                    6.3.2.3 Other power module device types
                               TABLE 29 POWER MODULE: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
                               TABLE 30 POWER MODULE: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
           6.3.3 TYPES OF POWER MODULES
                    6.3.3.1 Intelligent power module
                    6.3.3.2 Standard and power integrated module
    6.4 POWER INTEGRATED CIRCUIT 
           TABLE 31 POWER INTEGRATED CIRCUIT: POWER ELECTRONICS MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
           TABLE 32 POWER INTEGRATED CIRCUIT: POWER ELECTRONICS MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
           6.4.1 POWER MANAGEMENT INTEGRATED CIRCUIT
           6.4.2 APPLICATION-SPECIFIC INTEGRATED CIRCUIT
 
7 MATERIALS USED IN POWER ELECTRONIC DEVICES (Page No. - 101)
    7.1 INTRODUCTION 
           FIGURE 36 GAN-BASED POWER ELECTRONICS SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 33 POWER ELECTRONICS MARKET, BY MATERIAL, 2019–2022 (USD MILLION)
           TABLE 34 POWER ELECTRONICS MARKET, BY MATERIAL, 2023–2028 (USD MILLION)
    7.2 SILICON 
    7.3 SILICON CARBIDE (SIC) 
    7.4 GALLIUM NITRIDE (GAN) 
 
8 VOLTAGE LEVELS OF DIFFERENT POWER ELECTRONIC DEVICES (Page No. - 106)
    8.1 INTRODUCTION 
           FIGURE 37 LOW-VOLTAGE POWER ELECTRONICS TO DOMINATE MARKET IN 2028
           TABLE 35 POWER ELECTRONICS MARKET, BY VOLTAGE LEVEL, 2019–2022 (USD BILLION)
           TABLE 36 POWER ELECTRONICS MARKET, BY VOLTAGE LEVEL, 2023–2028 (USD BILLION)
    8.2 LOW 
    8.3 MEDIUM 
    8.4 HIGH 
 
9 DIFFERENT WAFER SIZES USED IN POWER ELECTRONICS (Page No. - 110)
    9.1 INTRODUCTION 
    9.2 UP TO 200 MM 
    9.3 ABOVE 200 MM 
 
10 DIFFERENT CURRENT LEVELS AVAILABLE IN POWER ELECTRONICS (Page No. - 112)
     10.1 INTRODUCTION 
     10.2 UP TO 25 A 
     10.3 26 TO 40 A 
     10.4 ABOVE 40 A 
 
11 APPLICATIONS OF POWER ELECTRONICS (Page No. - 113)
     11.1 INTRODUCTION 
     11.2 POWER MANAGEMENT 
     11.3 DRIVES 
     11.4 UPS 
     11.5 RAIL TRACTION 
     11.6 TRANSPORTATION 
     11.7 RENEWABLES 
     11.8 OTHER APPLICATIONS 
 
12 POWER ELECTRONICS MARKET, BY VERTICAL (Page No. - 117)
     12.1 INTRODUCTION 
             FIGURE 38 AUTOMOTIVE & TRANSPORTATION SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
             TABLE 37 POWER ELECTRONICS MARKET, BY VERTICAL, 2019–2022 (USD BILLION)
             TABLE 38 POWER ELECTRONICS MARKET, BY VERTICAL, 2023–2028 (USD BILLION)
     12.2 ICT 
             12.2.1 RISING DEMAND FOR ADVANCED POWER ELECTRONIC DEVICES AND CONTROLLED COOLING FOR DATA CENTERS AND ICT EQUIPMENT TO DRIVE MARKET
                        TABLE 39 ICT: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
                        TABLE 40 ICT: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
                        TABLE 41 ICT: POWER ELECTRONICS MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 42 ICT: POWER ELECTRONICS MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 43 ICT: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 44 ICT: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 45 ICT: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 46 ICT: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 47 ICT: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 48 ICT: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 49 ICT: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 50 ICT: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION)
     12.3 CONSUMER ELECTRONICS 
             12.3.1 INCREASING INTEGRATION OF POWER ELECTRONICS INTO WEARABLES, IOT DEVICES, AND SMART HOME DEVICES TO PROPEL MARKET
                        TABLE 51 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
                        TABLE 52 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
                        TABLE 53 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 54 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 55 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 56 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 57 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 58 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 59 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 60 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 61 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 62 CONSUMER ELECTRONICS: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION)
     12.4 INDUSTRIAL 
             12.4.1 GROWING ADOPTION OF DIGITAL CONTROL SYSTEMS AND ADVANCED ALGORITHMS IN POWER ELECTRONICS TO BOOST MARKET GROWTH
                        TABLE 63 INDUSTRIAL: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
                        TABLE 64 INDUSTRIAL: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
                        TABLE 65 INDUSTRIAL: POWER ELECTRONICS MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 66 INDUSTRIAL: POWER ELECTRONICS MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 67 INDUSTRIAL: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 68 INDUSTRIAL: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 69 INDUSTRIAL: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 70 INDUSTRIAL: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 71 INDUSTRIAL: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 72 INDUSTRIAL: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 73 INDUSTRIAL: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 74 INDUSTRIAL: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION)
             12.4.2 ENERGY & POWER
                        12.4.2.1 Photovoltaics
                        12.4.2.2 Wind turbines
     12.5 AUTOMOTIVE & TRANSPORTATION 
             12.5.1 INCREASING ADOPTION OF FAST-CHARGING ELECTRIC VEHICLES TO CONTRIBUTE TO MARKET GROWTH
                        TABLE 75 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
                        TABLE 76 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
                        TABLE 77 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 78 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 79 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 80 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 81 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 82 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 83 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 84 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 85 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 86 AUTOMOTIVE & TRANSPORTATION: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION)
                        12.5.1.1 Powertrain
                        12.5.1.2 Body and convenience
                        12.5.1.3 Chassis and safety systems
                        12.5.1.4 Infotainment systems
     12.6 AEROSPACE & DEFENSE 
             12.6.1 GROWING DEMAND FOR ELECTRIC AIRCRAFT AND HIGH-FREQUENCY WARFARE SYSTEMS TO FUEL MARKET GROWTH
                        TABLE 87 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
                        TABLE 88 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
                        TABLE 89 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 90 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 91 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 92 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 93 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 94 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 95 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 96 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 97 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 98 AEROSPACE & DEFENSE: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION)
     12.7 OTHER VERTICALS 
             TABLE 99 OTHER VERTICALS: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
             TABLE 100 OTHER VERTICALS: POWER ELECTRONICS MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION)
             TABLE 101 OTHER VERTICALS: POWER ELECTRONICS MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 102 OTHER VERTICALS: POWER ELECTRONICS MARKET, BY REGION, 2023–2028 (USD MILLION)
             TABLE 103 OTHER VERTICALS: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 104 OTHER VERTICALS: POWER ELECTRONICS MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)
             TABLE 105 OTHER VERTICALS: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 106 OTHER VERTICALS: POWER ELECTRONICS MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)
             TABLE 107 OTHER VERTICALS: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 108 OTHER VERTICALS: POWER ELECTRONICS MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)
             TABLE 109 OTHER VERTICALS: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2019–2022 (USD MILLION)
             TABLE 110 OTHER VERTICALS: POWER ELECTRONICS MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION)
 
13 POWER ELECTRONICS MARKET, BY REGION (Page No. - 148)
     13.1 INTRODUCTION 
             FIGURE 39 ASIA PACIFIC TO LEAD POWER ELECTRONICS MARKET DURING FORECAST PERIOD
             TABLE 111 POWER ELECTRONICS MARKET, BY REGION, 2019–2022 (USD BILLION)
             TABLE 112 POWER ELECTRONICS MARKET, BY REGION, 2023–2028 (USD BILLION)
     13.2 NORTH AMERICA 
             FIGURE 40 NORTH AMERICA: POWER ELECTRONICS MARKET SNAPSHOT
             TABLE 113 NORTH AMERICA: POWER ELECTRONICS MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 114 NORTH AMERICA: POWER ELECTRONICS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             TABLE 115 NORTH AMERICA: POWER ELECTRONICS MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
             TABLE 116 NORTH AMERICA: POWER ELECTRONICS MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
             13.2.1 IMPACT OF RECESSION ON POWER ELECTRONICS MARKET IN NORTH AMERICA
             13.2.2 US
                        13.2.2.1 Adoption of wide bandgap semiconductor materials and energy storage solutions for grid stability to drive market
             13.2.3 CANADA
                        13.2.3.1 Rising need for power electronics to efficiently manage power generated from renewable sources to drive market
             13.2.4 MEXICO
                        13.2.4.1 Economic growth and increasing population to propel market
     13.3 EUROPE 
             FIGURE 41 EUROPE: POWER ELECTRONICS MARKET SNAPSHOT
             TABLE 117 EUROPE: POWER ELECTRONICS MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 118 EUROPE: POWER ELECTRONICS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             TABLE 119 EUROPE: POWER ELECTRONICS MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
             TABLE 120 EUROPE: POWER ELECTRONICS MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
             13.3.1 IMPACT OF RECESSION ON POWER ELECTRONICS MARKET IN EUROPE
             13.3.2 UK
                        13.3.2.1 Active government support to reduce carbon footprint across various verticals to drive market
             13.3.3 GERMANY
                        13.3.3.1 Significant contribution of power electronics in improving affordability and energy efficiency of EVs to fuel market growth
             13.3.4 FRANCE
                        13.3.4.1 Increasing adoption of EVs to reduce pollution to boost market growth
             13.3.5 ITALY
                        13.3.5.1 Electricity production from renewable energy sources to drive market
             13.3.6 REST OF EUROPE
     13.4 ASIA PACIFIC 
             FIGURE 42 ASIA PACIFIC: POWER ELECTRONICS MARKET SNAPSHOT
             TABLE 121 ASIA PACIFIC: POWER ELECTRONICS MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 122 ASIA PACIFIC: POWER ELECTRONICS MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             TABLE 123 ASIA PACIFIC: POWER ELECTRONICS MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
             TABLE 124 ASIA PACIFIC: POWER ELECTRONICS MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
             13.4.1 IMPACT OF RECESSION ON POWER ELECTRONICS MARKET IN ASIA PACIFIC
             13.4.2 CHINA
                        13.4.2.1 Adoption of EVs and renewable energy sources to fuel market growth
             13.4.3 JAPAN
                        13.4.3.1 Focus on renewable energy production and adoption of SiC technology to contribute to market growth
             13.4.4 INDIA
                        13.4.4.1 Rapid urbanization and infrastructure modernization to drive market
             13.4.5 SOUTH KOREA
                        13.4.5.1 Rising adoption of power electronics due to increased infrastructure projects, advancements in transportation systems, and renewable energy initiatives to propel market
             13.4.6 REST OF ASIA PACIFIC
     13.5 ROW 
             TABLE 125 ROW: POWER ELECTRONICS MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 126 ROW: POWER ELECTRONICS MARKET, BY REGION, 2023–2028 (USD MILLION)
             TABLE 127 ROW: POWER ELECTRONICS MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
             TABLE 128 ROW: POWER ELECTRONICS MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
             13.5.1 IMPACT OF RECESSION ON POWER ELECTRONICS MARKET IN ROW
             13.5.2 SOUTH AMERICA
                        13.5.2.1 Rising demand for power electronics from energy and industrial sectors in Brazil to contribute to market growth
             13.5.3 MIDDLE EAST & AFRICA
                        TABLE 129 MIDDLE EAST & AFRICA: POWER ELECTRONICS MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 130 MIDDLE EAST & AFRICA: POWER ELECTRONICS MARKET, BY REGION, 2023–2028 (USD MILLION)
                        13.5.3.1 GCC countries
                        13.5.3.2 Rest of Middle East & Africa
 
14 COMPETITIVE LANDSCAPE (Page No. - 169)
     14.1 OVERVIEW 
     14.2 STRATEGIES ADOPTED BY KEY PLAYERS 
             TABLE 131 OVERVIEW OF STRATEGIES ADOPTED BY POWER ELECTRONICS MANUFACTURERS, 2020–2023
             14.2.1 PRODUCT PORTFOLIO
             14.2.2 REGIONAL FOCUS
             14.2.3 MANUFACTURING FOOTPRINT
             14.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES
     14.3 MARKET SHARE ANALYSIS 
             FIGURE 43 MARKET SHARE ANALYSIS OF KEY PLAYERS IN POWER ELECTRONICS MARKET, 2022
             TABLE 132 POWER ELECTRONICS MARKET: DEGREE OF COMPETITION, 2022
     14.4 FIVE-YEAR REVENUE ANALYSIS OF TOP FIVE PLAYERS 
             FIGURE 44 FIVE-YEAR REVENUE ANALYSIS OF TOP FIVE PLAYERS IN POWER ELECTRONICS MARKET, 2018–2022
     14.5 COMPANY EVALUATION MATRIX, 2022 
             14.5.1 STARS
             14.5.2 EMERGING LEADERS
             14.5.3 PERVASIVE PLAYERS
             14.5.4 PARTICIPANTS
                        FIGURE 45 POWER ELECTRONICS MARKET: COMPANY EVALUATION MATRIX, 2022
             14.5.5 COMPANY FOOTPRINT
                        TABLE 133 OVERALL COMPANY FOOTPRINT (25 COMPANIES)
                        TABLE 134 COMPANY DEVICE TYPE FOOTPRINT (25 COMPANIES)
                        TABLE 135 COMPANY VERTICAL FOOTPRINT (25 COMPANIES)
                        TABLE 136 COMPANY REGIONAL FOOTPRINT (25 COMPANIES)
     14.6 STARTUP/SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX, 2022 
             14.6.1 PROGRESSIVE COMPANIES
             14.6.2 RESPONSIVE COMPANIES
             14.6.3 DYNAMIC COMPANIES
             14.6.4 STARTING BLOCKS
                        FIGURE 46 POWER ELECTRONICS MARKET: STARTUP/SME EVALUATION MATRIX, 2022
             14.6.5 COMPETITIVE BENCHMARKING
                        TABLE 137 POWER ELECTRONICS MARKET: LIST OF KEY STARTUPS/SMES
                        TABLE 138 POWER ELECTRONICS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     14.7 INVESTMENTS AND FUNDING 
                        TABLE 139 POWER ELECTRONICS MARKET: INVESTMENTS AND FUNDING
     14.8 COMPETITIVE SCENARIOS AND TRENDS 
             14.8.1 PRODUCT LAUNCHES
                        TABLE 140 POWER ELECTRONICS MARKET: PRODUCT LAUNCHES, 2020–2023
             14.8.2 DEALS
                        TABLE 141 DEALS, 2020–2023
             14.8.3 OTHERS
                        TABLE 142 EXPANSIONS, 2020–2023
 
15 COMPANY PROFILES (Page No. - 197)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*  
     15.1 KEY PLAYERS 
             15.1.1 INFINEON TECHNOLOGIES AG
                        TABLE 143 INFINEON TECHNOLOGIES AG: COMPANY OVERVIEW
                        FIGURE 47 INFINEON TECHNOLOGIES AG: COMPANY SNAPSHOT
                        TABLE 144 INFINEON TECHNOLOGIES AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 145 INFINEON TECHNOLOGIES AG: PRODUCT LAUNCHES
                        TABLE 146 INFINEON TECHNOLOGIES AG: DEALS
                        TABLE 147 INFINEON TECHNOLOGIES AG: OTHERS
             15.1.2 SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC (ON SEMICONDUCTOR)
                        TABLE 148 SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC: COMPANY OVERVIEW
                        FIGURE 48 SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC: COMPANY SNAPSHOT
                        TABLE 149 SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC: PRODUCTS/SOLUTIONS/ SERVICES OFFERED
                        TABLE 150 SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC: PRODUCT LAUNCHES
                        TABLE 151 SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC: DEALS
                        TABLE 152 SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC: OTHERS
             15.1.3 STMICROELECTRONICS
                        TABLE 153 STMICROELECTRONICS: COMPANY OVERVIEW
                        FIGURE 49 STMICROELECTRONICS: COMPANY SNAPSHOT
                        TABLE 154 STMICROELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 155 STMICROELECTRONICS: PRODUCT LAUNCHES
                        TABLE 156 STMICROELECTRONICS: DEALS
                        TABLE 157 STMICROELECTRONICS: OTHERS
             15.1.4 MITSUBISHI ELECTRIC CORPORATION
                        TABLE 158 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW
                        FIGURE 50 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
                        TABLE 159 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 160 MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES
                        TABLE 161 MITSUBISHI ELECTRIC CORPORATION: DEALS
                        TABLE 162 MITSUBISHI ELECTRIC CORPORATION: OTHERS
             15.1.5 VISHAY INTERTECHNOLOGY, INC.
                        TABLE 163 VISHAY INTERTECHNOLOGY, INC.: COMPANY OVERVIEW
                        FIGURE 51 VISHAY INTERTECHNOLOGY, INC.: COMPANY SNAPSHOT
                        TABLE 164 VISHAY INTERTECHNOLOGY, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 165 VISHAY INTERTECHNOLOGY, INC.: PRODUCT LAUNCHES
             15.1.6 FUJI ELECTRIC CO., LTD.
                        TABLE 166 FUJI ELECTRIC CO., LTD.: COMPANY OVERVIEW
                        FIGURE 52 FUJI ELECTRIC CO., LTD.: COMPANY SNAPSHOT
                        TABLE 167 FUJI ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 168 FUJI ELECTRIC CO., LTD.: PRODUCT LAUNCHES
                        TABLE 169 FUJI ELECTRIC CO., LTD.: DEALS
             15.1.7 NXP SEMICONDUCTORS
                        TABLE 170 NXP SEMICONDUCTORS: COMPANY OVERVIEW
                        FIGURE 53 NXP SEMICONDUCTORS: COMPANY SNAPSHOT
                        TABLE 171 NXP SEMICONDUCTORS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 172 NXP SEMICONDUCTORS: PRODUCT LAUNCHES
                        TABLE 173 NXP SEMICONDUCTORS: DEALS
             15.1.8 RENESAS ELECTRONICS CORPORATION.
                        TABLE 174 RENESAS ELECTRONICS CORPORATION.: COMPANY OVERVIEW
                        FIGURE 54 RENESAS ELECTRONICS CORPORATION.: COMPANY SNAPSHOT
                        TABLE 175 RENESAS ELECTRONICS CORPORATION.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 176 RENESAS ELECTRONICS CORPORATION.: PRODUCT LAUNCHES
                        TABLE 177 RENESAS ELECTRONICS CORPORATION.: DEALS
             15.1.9 TEXAS INSTRUMENTS INCORPORATED
                        TABLE 178 TEXAS INSTRUMENTS INCORPORATED: COMPANY OVERVIEW
                        FIGURE 55 TEXAS INSTRUMENTS INCORPORATED: COMPANY SNAPSHOT
                        TABLE 179 TEXAS INSTRUMENTS INCORPORATED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 180 TEXAS INSTRUMENTS INCORPORATED: PRODUCT LAUNCHES
                        TABLE 181 TEXAS INSTRUMENTS INCORPORATED: DEALS
                        TABLE 182 TEXAS INSTRUMENTS INCORPORATED: OTHERS
             15.1.10 TOSHIBA CORPORATION
                        TABLE 183 TOSHIBA CORPORATION: COMPANY OVERVIEW
                        FIGURE 56 TOSHIBA CORPORATION: COMPANY SNAPSHOT
                        TABLE 184 TOSHIBA CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 185 TOSHIBA CORPORATION: PRODUCT LAUNCHES
                        TABLE 186 TOSHIBA CORPORATION: DEALS
     15.2 OTHER PLAYERS 
             15.2.1 ABB
             15.2.2 LITTELFUSE, INC.
             15.2.3 ANALOG DEVICES, INC.
             15.2.4 MICROCHIP TECHNOLOGY INC.
             15.2.5 ROHM CO., LTD.
             15.2.6 SEMIKRON
             15.2.7 TRANSPHORM INC.
             15.2.8 QORVO, INC
             15.2.9 WOLFSPEED, INC.
             15.2.10 EUCLID TECHLABS.
             15.2.11 NAVITAS SEMICONDUCTOR
             15.2.12 EFFICIENT POWER CONVERSION CORPORATION
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.  
 
16 APPENDIX (Page No. - 278)
     16.1 DISCUSSION GUIDE 
     16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     16.3 CUSTOMIZATION OPTIONS 
     16.4 RELATED REPORTS 
     16.5 AUTHOR DETAILS 
 

 

The study involved four major activities in estimating the size of the power electronics market. Exhaustive secondary research has been conducted to collect information on the market, the peer markets, and the parent market. Both top-down and bottom-up approaches have been employed to estimate the total market size. Market breakdown and data triangulation methods have also been used to estimate the market for segments and subsegments.

Secondary Research

Revenues of companies offering power electronics have been obtained from the secondary data available through paid and unpaid sources. The revenues have also been derived by analyzing the product portfolio of key companies, and these companies have been rated according to the performance and quality of their products.

Various secondary sources have been referred to in the secondary research process for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers; IoT technologies journals and certified publications; articles by recognized authors; gold-standard and silver-standard websites; directories; and databases.

Secondary research has been conducted mainly to obtain critical information about the market’s value chain, the total pool of key players, market classification and segmentation according to the industry trends to the bottom-most level, geographic markets, and key developments from both demand- and technology-oriented perspectives. Secondary data has been collected and analyzed to determine the overall market size, further validated by primary research.

Primary Research

Extensive primary research has been conducted after understanding and analyzing the current scenario of the power electronics market through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand and supply sides across 4 major regions: North America, Europe, Asia Pacific, and RoW. Approximately 25% of the primary interviews have been conducted with the demand side, while 75% have been conducted with the supply side. Primary data has been collected mainly through telephonic interviews, which consist of 80% of the total primary interviews. questionnaires and e-mails have also been used to collect data.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primary. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:

Power Electronics Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up procedure has been employed to arrive at the overall size of the power electronics market.

  • Identifying the entities in the power electronics market influencing the entire market along with related component players
  • Analyzing major manufacturers of power electronics, studying their portfolios, and understanding different types of products based on their features and functions
  • Analyzing trends pertaining to the usage of power electronics offerings
  • Tracking the ongoing and upcoming developments in the market, such as investments made, R&D activities, product launches, collaborations, and partnerships, and forecasting the market size based on these developments and other critical parameters
  • Carrying out multiple discussions with key opinion leaders to understand the different types of power electronics, applications, and recent trends in the market, thereby analyzing the breakup of the scope of work carried out by major manufacturing companies
  • Arriving at the market estimates by analyzing segmental revenues of these companies generated by power electronics offerings, and then combining the same to get the market estimate by different segments
  • Verifying and cross-checking the estimate at every level by discussing with key opinion leaders, such as Chief Experience Officers (CXOs), directors, and operations managers, and finally with the domain experts at MarketsandMarkets
  • Studying various paid and unpaid sources of information, such as annual reports, press releases, white papers, Factiva, and databases

Power Electronics Market Size, and Bottom-up Approach

The top-down approach has been used to estimate and validate the total size of the power electronics market.

  • Focusing initially on the investments and expenditures being made in the ecosystems of various applications
  • Calculating the market size considering revenues generated by major players through the cost of the power electronics.
  • Segmenting each application of power electronics in each region and deriving the global market size based on region.
  • Acquiring and analyzing information related to revenues generated by players through their key offerings.
  • Conducting multiple on-field discussions with key opinion leaders involved in the development of various power electronics offerings.
  • Estimating the geographic split using secondary sources based on various factors, such as the number of players in a specific country and region and the types of power electronics used in consumer electronics, industrial, automotive and transportation, aerospace & defense.

Power Electronics Market Size, and Top-Down Approach

Data Triangulation

After arriving at the overall size of the power electronics market through the process explained, the total market has been split into several segments and subsegments. Market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from the demand and supply sides. The market has also been validated using the top-down and bottom-up approaches.

Market Definition

Power electronics is the application of solid-state electronics, in which electric power is converted from one form to another and controlled effectively and efficiently. This conversion is performed using semiconductor devices such as diodes, thyristors, MOSFETs, and IGBTs. Currently, most electrical and electromechanical devices are integrated with power circuits wherein such semiconductor devices are utilized. Power electronics has a wide range of applications in the automotive and transportation, industrial, renewable energy, and consumer electronics sectors.

Key Stakeholders

  • Raw material and wafer suppliers
  • Component and device players
  • System integrators
  • Original equipment manufacturers (OEMs)
  • Integrated device manufacturers (IDMs)
  • Original design manufacturers (ODMs)
  • Assembling, testing, and packaging vendors
  • Technology, service, and solution providers
  • Suppliers and distributors
  • Government and other regulatory bodies
  • Research institutes and organizations
  • Market research and consulting firms

Report Objectives

  • To describe and forecast the power electronics market, in terms of value, based on device type, material, voltage, and vertical.
  • To describe and forecast the market size for the device type of power electronics market, in terms of value and volume
  • To provide a qualitative overview of power electronics based on wafer size, current level, and application
  • To describe and forecast the market size, in terms of value, with respect to four major regions: North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
  • To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the market’s growth
  • To provide a detailed overview of the value chain of the power electronics ecosystem
  • To strategically analyze the ecosystem, Porter’s five forces, technology analysis, tariffs and regulations, patent analysis, trade analysis, key conferences and events, and case studies pertaining to the market under study
  • To analyze the manufacturers of power electronics, their strategies, and new production plans to analyze the power electronics ecosystem/supply chain, which consists of suppliers of materials and components and product manufacturers
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
  • To analyze opportunities in the market for various stakeholders by identifying high-growth segments of the market
  • To benchmark players within the market using the proprietary “Competitive Leadership Mapping” framework, which analyzes market players on various parameters within the broad categories of business strategy excellence and strength of product portfolio
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies2, along with detailing the competitive landscape of the market
  • To analyze competitive developments, such as acquisitions, product launches and developments, expansions, and partnerships in the market

Available customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Detailed analysis and profiling of additional market players based on various blocks of the supply chain
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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