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Power Electronics Market to 2024 By Top Manufacturers ENERCON, Infineon Technologies, Mersen, Microsemi Corporation, NXP Semiconductors, ON Semiconductor, SEMIKRON, Texas Instruments, STMicroelectronics

01-29-2019 05:21 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

/ PR Agency: Electronics and Media Industry
Power Electronics Market

Power Electronics Market

The high demand for alternative energy systems such as solar, wind, and geothermal over conventional power sources will drive the Power Electronics Market. This is largely due to the increase in pollution rates that is resulting in reduced life expectancies and physical ailments among the general population.

Governments are also pushing the provision of grants and VAT exemptions for electric vehicle owners to increase the adoption and decrease the total cost of ownership. For instance, the UK government offers consumers financial incentives in the form of grants and subsidies upwards of USD 5,944 for these vehicles. Also, ownership cost of fully-electric vehicles is reduced with owners of vehicles that cost less than USD 52,844 to be exempted from paying annual road taxes. The presence of such initiatives and plans is anticipated to drive the power electronics market.

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The increase in terrorist attacks and criminal activities across the world is leading to an increase focus on the development of new and advanced defense technologies. The development of defense systems such as missiles, high altitude platforms, satellites, communication technologies, and combat land and air vehicles are driving the growth of the power electronics market.

Key Players: -
• ENERCON
• Fuji Electric
• Infineon Technologies
• Mersen
• Microsemi Corporation
• NXP Semiconductors
• ON Semiconductor
• SEMIKRON
• Texas Instruments
• STMicroelectronics

UAVs, for instance, are required to stay operational for prolonged periods of time without the provision of constant fueling and charging stations. To tackle this issue, these systems are either equipped with battery, powered storage units or solar panels, both of which requires DC-DC convertors and powertrains to function.

The rising demand for data centers and wireless technologies is fueling the growth of the ICT segment of the power electronics market. For instance, in data centers, cooling of the system consumes approximately 40% of the total electricity. By applying variable speed drives to pumps and air conditioning units, the speed of the systems can be adjusted to match the amount of cooling that is required providing massive energy and cost savings.

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The discrete power electronics market is anticipated to exhibit substantial growth during the forecast timespan as components such as transistors, diodes, and thyristors find increasing applications in every day electronics and consumer systems. Diodes, for instance, have varied use cases as blocking devices in solar charging systems for the prevention of a storage unit such as the battery from discharging through the solar panel.

The economic boom in the Asia Pacific countries is contributing to the high growth of the power electronics market. The middle-class population is now able to purchase a larger amount of luxury goods and household systems. Furthermore, in industrial and manufacturing settings, these systems are essential components to combat issues pertaining to power losses and current fluctuations through the usage of power regulators, UPS, and inverters.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/power-electronics-market

Players operating in the global power electronics market include Semikron Electronics GmbH & Co., Inc., Renesas Electronics Corporation, Texas Instruments Incorporated, ON Semiconductor, NXP Semiconductor N.V., Methode Electronics, Inc., Microsemi Corporation, and Maxim Integrated Products, Inc. Product innovations are commonplace among industry participants.

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.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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