HOME Research Insight Market Leader - Power Electronics Market

Market Leader - Power Electronics Market

The power electronics market is expected to grow from USD 39.03 Billion in 2018 to USD 51.01 Billion by 2023, at a CAGR of 5.5% during forecast period. Growing industrialization in developing economies and growing demand for EVs and HEVs are likely to create huge opportunities for the market players. Upgrade of power infrastructure and focus toward the use of renewable power sources are driving the power electronics market.

The key strategy adopted by major players to grow in the power electronics market is product launches and developments (between 2015 and 2017). Infineon Technologies (Germany), Texas Instruments (US), ON Semiconductor (US), STMicroelectronics (Switzerland), and Renesas Electronics (Japan) had adopted this strategy.

Infineon Technologies, one of the global companies, provides semiconductor and system solutions for a wide range of applications such as automotive, consumer, industrial, robotics, energy and power, and so on. Its power product portfolio includes insulated-gate bipolar transistor (IGBT), power metal oxide semiconductor field-effect transistor (MOSFET), diodes, thyristors, silicon carbide (SiC), and other components. For instance, in March 2018, Infineon Technologies established a joint venture with SAIC Motor Corporation Limited (Shanghai) to manufacture power modules for the electric vehicle market in China.

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Texas Instruments designs, manufactures, and sells analog and digital semiconductor integrated circuits (ICs) and embedded processors. The company offers a number of power electronic products such as power MOSFETs, power modules, IGBT gate drivers, and ASICs; the company is in the process of expanding its product portfolio with the help of product launches. The company is emphasizing on high growth markets, including automotive and industrial. For instance, in June 2017, Texas Instruments introduced an innovative 3-phase GaN-based inverter, which uses a 12-A GaN power module and an integrated FET.

Other companies operating in the power electronics market include 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).

Related Reports:

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

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