Power Electronics Market Research 2022: Top Key Players, Drivers, Challenges and Market Insights

Global power electronics market is expected to rise at a positive CAGR in the forecast period. Power electronics is the use of solid-state electronics to the control and conversion of electric power from the source to the load in an efficient and appropriate mode. The factors propelling the growth of power electronics market includes growing demand for energy-efficient battery-powered portable devices, increasing trend of energy harvesting technologies, improvement of power infrastructure, and the rising emphasis on using renewable power sources.

In addition, increase in adoption of electronic cars is significantly fueling the growth of the market size. Also, sectors such as ICT, defense, telecommunications, etc. are driving the growth of the market size. On the other hand, factors that hamper the growth of the market size such as manufacturing cost of power electronics is expensive and time consuming.

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Power Electronics market size is bifurcated on the basis of material, device type, vertical and geography. Based on material, the market is classified as Silicon (Si), Silicon Carbide (SiC), Gallium Nitride (GaN), Sapphire and others. Among the materials, Silicon segment is projected to account a major share in the Power Electronics market size owing to the applicability of silicon in several power electronics devices and products. On the basis of device type, the market is classified as discrete, module and IC.

Among the device type, IC segment is estimated to account a large share of the Power Electronics market size. The key factors that fuel the growth of this segment areits rising application in RADAR, satellite communication, microwave radiation, high frequency wireless communication, etc. On the basis of vertical, the global Power Electronics market research report is classified as ICT, Consumer Electronics, Power, Industrial, Automotive and Aerospace &Defense. The ICT segment is further sub classified as Switching Systems, Wireless, Satellite Communication, Radar, Radio Frequency (RF) and others. The other segment includes Signal Amplifiers, Wired Communication, and Photovoltaic.

The Power segment is further sub classified as Uninterruptible Power Supply (UPS), Converter and others. The other segment includes High-Voltage Direct Current (HVDC) and Flexible AC Transmission Systems (FACTS). The Industrial segment is further sub classified as Point-to-Load (POL) conversion, Power Management, Renewable Energy System, Heating, Ventilating, and Air-Conditioning (HVAC), Rail Traction, Motor Drive, Smart Grid and others. The other segment includes High-Voltage DC (HVDC).


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