Power Electronics Market by Material, Device Type (Discrete, Module, and IC), Application, Vertical (ICT, Consumer Electronics, Energy and Power, Industrial, Automotive, and Aerospace & Defense), and Geography - Global Forecast to 2023
The power electronics market was valued at USD 36.93 Billion in 2017 and is expected to reach USD 51.01 Billion by 2023, at a CAGR of 5.5% during the forecast period. The base year considered for the study is 2017, and the forecast period considered is 20182023. This report provides a detailed analysis of the market based on device type, material, application, vertical, and region. The report forecasts the market size, in terms of value, for various segments with regard to 4 main regionsNorth America, Europe, APAC, and RoW. It strategically profiles the key players and comprehensively analyzes their market rankings and core competencies, along with detailing the competitive landscape for the market leaders.
The research methodology used to estimate and forecast the power electronics market begins with capturing the data on key vendor revenues through secondary research. Secondary sources referred for this research study include government sources, World Economic Outlook, trade websites, Hoovers, Bloomberg Businessweek, Factiva, OneSource, World Bank data, OPEC data, OICA data, corporate filings (such as annual reports, investor presentations, and financial statements), and trade, business, and professional associations. The bottom-up procedure has been employed to arrive at the overall size of the market from the revenues of key players in the market. After arriving at the overall market size, the overall market has been split into several segments and subsegments, which have been verified through primary research by conducting extensive interviews with industry experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primary respondents has been depicted in the below figure.
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The value chain of the power electronics market comprises raw material suppliers, manufacturers, investors, and distributors. Players operating in the market include Infineon Technologies (Germany), Texas Instruments (US), On Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric (Japan), Fuji Electric (Japan), Renesas Electronics (Japan), Toshiba (Japan), NXP Semiconductors (The Netherland), Vishay Intertechnology (US), Maxim Integrated Products (US), SEMIKRON (Germany), ABB (Switzerland), Hitachi, (Japan), Analog Devices (US), ROHM Semiconductor (Japan), Microsemi (US), Littelfuse (US), Microchip Technology (US), and Danfoss (Denmark).
Scope of the Report:
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Report Metric |
Details |
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Report Name |
Power Electronics Market |
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Base year |
2017 |
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Forecast period |
20182023 |
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Forecast units |
Value in terms of USD million and billion |
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Segments covered |
Product, System Type, Software & Services, Function, Industry, and Region |
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Geographic regions covered |
North America, APAC, Europe, and RoW |
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Companies covered |
Infineon Technologies (Germany), Texas Instruments (US), On Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric (Japan), Fuji Electric (Japan), Renesas Electronics (Japan), Toshiba (Japan), NXP Semiconductors (The Netherland), Vishay Intertechnology (US), Maxim Integrated Products (US), SEMIKRON (Germany), ABB (Switzerland), Hitachi, (Japan), Analog Devices (US), ROHM Semiconductor (Japan), Microsemi (US), Littelfuse (US), Microchip Technology (US), and Danfoss (Denmark) |
Key Target Audience:
- Component manufacturers and distributors
- Row material providers
- Power device distributors
- Power device manufacturers
- End-user verticals (ICT, consumer electronics, energy & power, industrial, automotive, aerospace & defense, and others)
- Analysts and strategic business planners
- Research organizations
- Associations, organizations, and alliances related to power electronics
This study answers several questions for the stakeholders, primarily which market segments to focus on in the next 25 years for prioritizing efforts and investments.
Scope of the Report:
This research report categorizes the power electronics market on the basis of device type, material, application, vertical, and region.
Power Electronics Market, By Device Type:
- Power Discrete
- Power Modules
- Power ICs
Power Electronics Market, By Material:
- Silicon
- Silicon Carbide
- Gallium Nitride
- Others
Power Electronics Market, By Application:
- Power Management
- Drives
- UPS
- Rail Traction
- Transportation
- Renewable
- Others
Power Electronics Market, By Vertical:
- ICT
- Consumer Electronics
- Energy & Power
- Industrial
- Automotive
- Aerospace & Defense
- Others
Power Electronics Market, By Region:
- North America
- Europe
- APAC
- RoW
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for the report:
Company Information:
Detailed analysis and profiling of additional market players (up to 5)
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The power electronics market is expected to grow from USD 39.03 Billion in 2018 to USD 51.01 Billion by 2023, growing at a CAGR of 5.5% between 2018 and 2023. The growth of this market can be attributed to the upgrade of power infrastructure and growing demand for energy-efficient battery-power portable devices. In developing regions, existing power supply resources are being increasingly utilized because of the growing power consumption. The demand for the enhancement of power infrastructure and concerns regarding the use of renewable power supplies are increasing globally. Governments across the globe are increasingly investing in renewable energy sources, such as solar and wind, and are constantly working toward formulating better feed-in-tariff policies to provide photovoltaic projects with the convenience of grid connections.
The power electronics market has been segmented on the basis of device type into discrete, modules, and ICs. The power ICs led the market in 2017. Power ICs including PMICs and ASICs are primarily used in high-frequency range, high power amplification, and microwave radiation applications.
On the basis of application, the market has been segmented into power management, drive, UPS, rail traction, transportation, renewable, and others. The market for the transportation application is expected to grow at the highest CAGR between 2018 and 2023 owing to increasing production of HEVs and EVs and rising demand for electric vehicle charging stations across the globe.
The power electronics market is segmented on the basis of vertical into ICT, consumer electronics, energy and power, industrial, automotive, aerospace and defense, and others. The automotive vertical is expected to grow at the highest CAGR during the forecast period owing to the increasing focus on hybrid electric vehicles (HEVs) and EVs and increasing demand for cars and other passenger vehicles across the globe.
APAC led the overall power electronics market and accounted for the largest market share, followed by Europe. The market in APAC is expected to grow rapidly during the forecast period. The key drivers for the growth of this market in APAC include growing demand for power electronic devices in automotive and consumer applications and the presence of many manufacturing units in APAC. Moreover, the growing demand of industrial and energy & power verticals for power electronic devices helps the market to grow further in the region.
Complex design and integration process for advanced technological devices is restraining the growth of the market. The power electronics industry is focusing more on the integration of multiple functionalities into a single chip, which results in complex designing. Designing and integration of complex devices require special skillsets, robust methodology, and toolset for integration, which increase the cost of the devices; thus, high cost restrains users to switch to advanced technological devices.; hence, complex design and integration process for advanced technological devices is considered a restraining factor for the growth of the power electronics market.
Major players in the power electronics market are Infineon Technologies (Germany), Texas Instruments (US), On Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric (Japan), Fuji Electric (Japan), Renesas Electronics (Japan), Toshiba (Japan), NXP Semiconductors (The Netherland), Vishay Intertechnology (US), Maxim Integrated Products (US), SEMIKRON (Germany), ABB (Switzerland), Hitachi (Japan), Analog Devices (US), ROHM Semiconductor (Japan), Microsemi (US), Littelfuse (US), Microchip Technology (US), and Danfoss (Denmark).
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Table of Contents
1 Introduction (Page No. - 16)
1.1 Study Objectives
1.2 Power Electronics Market Definition
1.3 Study Scope
1.3.1 Years Considered for Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 19)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.3 Market Share Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary (Page No. - 27)
4 Premium Insights (Page No. - 31)
4.1 Attractive Opportunities in the Overall Market
4.2 Power Electronics Market, By Device Type
4.3 Market, By Application and Country
4.4 Market, By Application
4.5 Market, By Vertical
4.6 Market, By Country
5 Market Overview (Page No. - 35)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Upgrade of Power Infrastructure and Focus Toward the Use of Renewable Power Sources
5.2.1.2 Growing Demand for Energy-Efficient Battery-Powered Portable Devices
5.2.2 Restraints
5.2.2.1 Complex Design and Integration Process for Advanced Technological Devices
5.2.3 Opportunities
5.2.3.1 Growing Demand for HEVs and EVs
5.2.3.2 Growing Industrialization in Developing Economies
5.2.4 Challenges
5.2.4.1 Manufacturers Struggling to Cope With Frequently Changing Demand for More Compact and Efficient Devices at Low Prices
6 Power Electronics Market, By Material (Page No. - 38)
6.1 Introduction
6.2 Silicon (Si)
6.3 Silicon Carbide (SiC)
6.4 Gallium Nitride (GaN)
6.5 Others
7 Power Electronics Market, By Device Type (Page No. - 41)
7.1 Introduction
7.2 Power Discrete
7.2.1 Diode
7.2.1.1 Pin Diode
7.2.1.2 Zener Diode
7.2.1.3 Schottky Diode
7.2.2 Transistor
7.2.2.1 Bipolar Junction Transistor (BJT)
7.2.2.2 Insulated Gate Bipolar Transistor (IGBT)
7.2.2.3 Field Effect Transistor (FET)
7.2.3 Thyristor
7.3 Power Module
7.3.1 Intelligent Power Module (IPM)
7.3.2 Power Integrated Module (PIM)
7.3.2.1 Mosfet Module
7.3.2.2 IGBT Module
7.4 Power IC
7.4.1 Power Management IC
7.4.2 Application-Specific IC
8 Power Electronics Market, By Application (Page No. - 54)
8.1 Introduction
8.2 Power Management
8.3 Drives
8.4 UPS
8.5 Rail Traction
8.6 Transportation
8.7 Renewable
8.8 Others
9 Power Electronics Market, By Vertical (Page No. - 63)
9.1 Introduction
9.2 ICT
9.3 Consumer Electronics
9.4 Energy and Power
9.5 Industrial
9.6 Automotive
9.7 Aerospace and Defense
9.8 Others
10 Geographic Analysis (Page No. - 69)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Rest of Europe
10.4 APAC
10.4.1 China
10.4.2 Japan
10.4.3 South Korea
10.4.4 Rest of APAC
10.5 Rest of the World (RoW)
11 Competitive Landscape (Page No. - 88)
11.1 Introduction
11.2 Ranking Analysis of Players in the Power Electronics Market
11.3 Competitive Situations and Trends
11.3.1 Product Launches
11.3.2 Agreements, Partnerships, Contracts, and Collaborations
11.3.3 Mergers & Acquisitions
11.3.4 Expansions
12 Company Profiles (Page No. - 92)
12.1 Key Players
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
12.1.1 Infineon Technologies
12.1.2 Texas Instruments
12.1.3 On Semiconductor
12.1.4 STMicroelectronics
12.1.5 Mitsubishi Electric
12.1.6 Fuji Electric
12.1.7 Renesas Electronics
12.1.8 Toshiba
12.1.9 NXP Semiconductors
12.1.10 Vishay Intertechnology
*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.
12.2 Other Key Players
12.2.1 Maxim Integrated Products
12.2.2 Semikron
12.2.3 ABB
12.2.4 Hitachi
12.2.5 Analog Devices
12.2.6 ROHM Semiconductor
12.2.7 Microsemi Corporation
12.2.8 Littelfuse
12.2.9 Microchip Technology
12.2.10 Danfoss
13 Appendix (Page No. - 122)
13.1 Insights From Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets Subscription Portal
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customization
13.6 Related Reports
13.7 Author Details
List of Tables (71 Tables)
Table 1 Power Electronics Market, By Material, 20152023 (USD Billion)
Table 2 Market, By Device Type, 20152023 (USD Billion)
Table 3 Market for Discrete, By Components, 20152023 (USD Billion)
Table 4 Market for Transistors, By Type, 20152023 (USD Billion)
Table 5 Market for Discrete, By Components, 20152023 (Million Units)
Table 6 Market for Transistors, By Type, 20152023 (Million Units)
Table 7 Market for Discrete, By Application, 20152023 (USD Billion)
Table 8 Market for Discrete, By Vertical, 20152023 (USD Billion)
Table 9 Market for Discrete, By Region, 20152023 (USD Billion)
Table 10 Market for Modules, By Components, 20152023 (USD Billion)
Table 11 Market for PIM, By Type, 20152023 (USD Billion)
Table 12 Market for Modules, By Components, 20152023 (Million Units)
Table 13 Market for PIM, By Type, 20152023 (Million Units)
Table 14 Market for Module, By Application, 20152023 (USD Billion)
Table 15 Market for Module, By Vertical, 20152023 (USD Billion)
Table 16 Market for Module, By Region, 20152023 (USD Billion)
Table 17 Market for IC, By Components, 20152023 (USD Billion)
Table 18 Market for IC, By Application, 20152023 (USD Billion)
Table 19 Market for IC, By Vertical, 20152023 (USD Billion)
Table 20 Market for IC, By Region, 20152023 (USD Billion)
Table 21 Market, By Application, 20152023 (USD Billion)
Table 22 Market for Power Management, By Device Type, 20152023 (USD Billion)
Table 23 Market for Power Management, By Region, 20152023 (USD Billion)
Table 24 Market for Drives, By Device Type, 20152023 (USD Billion)
Table 25 Market for Drives, By Region, 20152023 (USD Billion)
Table 26 Market for UPS, By Device Type, 20152023 (USD Billion)
Table 27 Market for UPS, By Region, 20152023 (USD Billion)
Table 28 Market for Rail Traction, By Device Type, 20152023 (USD Billion)
Table 29 Market for Rail Traction, By Region, 20152023 (USD Billion)
Table 30 Market for Transportation, By Device Type, 20152023 (USD Billion)
Table 31 Market for Transportation, By Region, 20152023 (USD Billion)
Table 32 Market for Renewable, By Device Type, 20152023 (USD Billion)
Table 33 Market for Renewable, By Region, 20152023 (USD Billion)
Table 34 Market for Others, By Device Type, 20152023 (USD Billion)
Table 35 Market for Others, By Region, 20152023 (USD Billion)
Table 36 Market, By Vertical, 20152023 (USD Billion)
Table 37 Market for ICT, By Device Type, 20152023 (USD Billion)
Table 38 Market for Consumer Electronics, By Device Type, 20152023 (USD Billion)
Table 39 Market for Energy and Power, By Device Type, 20152023 (USD Billion)
Table 40 Market for Industrial, By Device Type, 20152023 (USD Billion)
Table 41 Market for Automotive, By Device Type, 20152023 (USD Billion)
Table 42 Market for Aerospace and Defense, By Device Type, 20152023 (USD Billion)
Table 43 Market for Others, By Device Type, 20152023 (USD Billion)
Table 44 Market, By Region, 20152023 (USD Billion)
Table 45 Market in North America, By Country, 20152023 (USD Billion)
Table 46 Market in North America, By Device Type, 20152023 (USD Billion)
Table 47 Market in North America, By Application, 20152023 (USD Billion)
Table 48 Market in the US, By Device Type, 20152023 (USD Billion)
Table 49 Market in Canada, By Device Type, 20152023 (USD Billion)
Table 50 Market in Europe, By Country, 20152023 (USD Billion)
Table 51 Market in Europe, By Device Type, 20152023 (USD Billion)
Table 52 Market in Europe, By Application, 20152023 (USD Billion)
Table 53 Market in Germany, By Device Type, 20152023 (USD Billion)
Table 54 Market in UK, By Device Type, 20152023 (USD Billion)
Table 55 Market in France, By Device Type, 20152023 (USD Billion)
Table 56 Market in Italy, By Device Type, 20152023 (USD Billion)
Table 57 Market in Rest of Europe, By Device Type, 20152023 (USD Billion)
Table 58 Market in APAC, By Country, 20152023 (USD Billion)
Table 59 Market in APAC, By Device Type, 20152023 (USD Billion)
Table 60 Market in APAC, By Application, 20152023 (USD Billion)
Table 61 Market in China, By Device Type, 20152023 (USD Billion)
Table 62 Market in Japan, By Device Type, 20152023 (USD Billion)
Table 63 Market in South Korea, By Device Type, 20152023 (USD Billion)
Table 64 Market in Rest of APAC, By Device Type, 20152023 (USD Billion)
Table 65 Market in RoW, By Device Type, 20152023 (USD Billion)
Table 66 Market in RoW, By Application, 20152023 (USD Billion)
Table 67 Ranking of Key Players in the Market (2017)
Table 68 Product Launches, 2016-2018
Table 69 Agreements, Partnerships, Contracts, and Collaborations, 2016-2018
Table 70 Mergers & Acquisitions, 2016-2017
Table 71 Expansions, 2017-2018
List of Figures (34 Figures)
Figure 1 Market Segmentation
Figure 2 Market: Research Design
Figure 3 Research Flow of Market Size Estimation
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions of the Research Study
Figure 8 IC Expected to Dominate the Market During the Forecast Period
Figure 9 Market for Gallium Nitride to Grow at the Highest CAGR During the Forecast Period
Figure 10 Transportation to Hold the Largest Market Share During the Forecast Period
Figure 11 Automotive Expected to Be the Fastest-Growing Vertical During the Forecast Period
Figure 12 APAC Expected to Be the Fastest-Growing Region Regarding the Market During the Forecast Period
Figure 13 Upgrade of Power Infrastructure and Focus Toward the Use of Renewable Power Sources Driving the Market
Figure 14 ICS Expected to Dominate the Market During the Forecast Period
Figure 15 Transportation Application Expected to Hold the Largest Share of Market in APAC By 2023
Figure 16 Transportation Expected to Hold the Largest Market During the Forecast Period
Figure 17 Automotive Expected to Hold the Largest Market During the Forecast Period
Figure 18 China Expected to Witness the Highest Growth in the Market By 2023
Figure 19 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 20 China Expected to Lead the Market During the Forecast Period
Figure 21 Snapshot: Market in North America
Figure 22 Snapshot: Market in Europe
Figure 23 Snapshot: Power Electronics Market in APAC
Figure 24 Product Launch Was the Key Strategy Adopted By Major Players Between 2015 and April 2018
Figure 25 Infineon Technologies: Company Snapshot
Figure 26 Texas Instruments: Company Snapshot
Figure 27 on Semiconductor: Company Snapshot
Figure 28 Stmicroelectronics: Company Snapshot
Figure 29 Mitsubishi Electric: Company Snapshot
Figure 30 Fuji Electric: Company Snapshot
Figure 31 Renesas Electronics: Company Snapshot
Figure 32 Toshiba: Company Snapshot
Figure 33 NXP Semiconductors: Company Snapshot
Figure 34 Vishay Intertechnology: Company Snapshot
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