Press release
Power Electronics Market By Semiconductors Industry Players: ENERCON, NXP Semiconductor, Mitsubishi, Infineon Technologies, Microsemi Corporation, Texas Instruments, Renesas Electronics
Global Market Insights
Power Electronics Market is projected to reach a revenue of over USD 45 billion over the forecast timespan. The shift towards the adoption of smart grids and the improvements in energy infrastructure is anticipated to drive the consumption in the industry. Governments of countries such as India and the U.S. are funding the construction and enhancement of power infrastructure with the delivery of low-cost power to rural and underserved locations. In remote areas that are separated by a wide area from the main power generation plant, the loss of energy with transmission over a large distance is a major issue. An efficient and reliable method for combating this issue is high-voltage, direct current transmission, aiding the growth of the power electronics market.
The rising consumption of automobiles and consumer electronic devices such as smartphones, laptops, household electronics is anticipated to contribute to the high growth of the power electronics market. This equipment is a basic component in a majority of such devices as switchers, drive motors, among others. The application of these systems can also massively aid in boosting the efficiency of the equipment. For instance, in a washing machine, a variable-speed motor can provide a high-speed spin cycle that will extract the extra water.
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Top Key Players: -
Power electronics market players include ENERCON, NXP Semiconductor N.V., Mitsubishi Electric, Infineon Technologies, Microsemi Corporation, Texas Instruments Incorporated, Renesas Electronics Corporation, ON Semiconductor, and Semikron Electronics GmbH & Co., Inc.
Regional Segmentation: -
Large-scale solar power plant construction projects are a major factor driving the Asia Pacific power electronics market. For instance, in 2016, the Indian government-run NLC India announced the construction of solar power projects with 4,000 MW capacity under the National Solar Mission. This is largely due to government interest in the provision of low cost, renewable power to the rural and underserved population.
The Europe power electronics market is expected to witness growth owing to government funding for electric vehicle manufacturers and grants and subsidies to vehicle owners. For instance, in France, if a diesel vehicle purchased prior to 2016 is swapped with a fully-electric vehicle, the owner is eligible for a bonus of approximately USD 11,653. Various other countries such as Italy, UK, and Germany have followed suit and initiated their own EV adoption plans.
Competitive Market: -
Partial Chapter of the Table of Content
Chapter 4. Power Electronics Market, By Product
4.1. Power electronics market share by product, 2016 2024
4.2. Discrete
4.2.1. Market estimates and forecasts, 2013 - 2024
4.3. Module
4.3.1. Market estimates and forecasts, 2013 - 2024
4.4. IC
4.4.1. Market estimates and forecasts, 2013 - 2024
Chapter 5. Power Electronics Market, By Application
5.1. Power electronics market share by application, 2016 2024
5.2. Automotive
5.2.1. Market estimates and forecasts, 2013 - 2024
5.3. Consumer electronics
5.3.1. Market estimates and forecasts, 2013 - 2024
5.4. ICT
5.4.1. Market estimates and forecasts, 2013 - 2024
5.5. Industrial
5.5.1. Market estimates and forecasts, 2013 - 2024
5.6. Aerospace defense
5.6.1. Market estimates and forecasts, 2013 – 2024
5.7. Others
5.7.1. Market estimates and forecasts, 2013 – 2024
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Smart grids usage impacts the growth of the power electronics market. These systems have high penetration owing to their ability to utilize control systems and digital communications to monitor and control power flows to make the power grid efficient and cost-effective. The applications of power electronics market in smart grids are in the form of thyristors, AC/DC and DC/DC converters, and LED systems. Segmentation of the power electronics market by module products is anticipated to experience substantial growth.
As the demand for smartphone and handheld, battery devices is anticipated to increase, the demand for these systems is projected to be propelled as a consequence. The demand for the discrete products segment is projected to experience high growth during the forecast timeframe. An increasing number of appliances use auto jumper cables, in which this component is a pre-requisite for the prevention of sparks and electric shocks for destroying the device or causing injury to human life.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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