Power Electronics Market Valued at US$ 46.70 Billion in 2023, Set to Grow at a 5.7% CAGR, Projected to Reach US$ 68.84 Billion by 2030

Anticipated Growth in Revenue:

Power Electronics Market size was valued at US$ 46.70 Billion in 2023 and the total Power Electronics revenue is expected to grow at 5.7% through 2024 to 2030, reaching nearly US$ 68.84 Billion.

Power Electronics Market Overview:

Power electronics is a discipline of electronics engineering concerned with the processing of high voltages and currents to supply power for a range of applications. From domestic electronics to space-related equipment, all of these regions require consistent and dependable electric power that meets the required criteria. Power is converted from one form to another by power switches and regulatory systems, resulting in properly regulated power.



Power electronicsdevices are used in a wide array of applications, including power drive controllers, propellers, and protective assistance systems, fuel monitoring and control, air traffic control, guidance, interior illumination, navigation, and telecommunications. Signal processing for the modern radar system, aircraft, defense systems, unmanned aircraft vehicle systems, and missile controllers, for example, need for computing power that generates a lot of heat. Power electronics that are efficient assist to minimize heat and boost efficiency.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐎𝐮𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰:https://www.stellarmr.com/report/req_sample/Power-Electronics-Market/430

What are Power Electronics Market Dynamics?

The developments in the electric vehicles industry are one of the major drivers of the power electronics market. Power electronics devices are used in multiple elements of contemporary automobiles, including the starter motor, windscreen wiper controller, adjustable front illumination, luminaires, and power transmission steering. Power electronics devices are predicted to play an important role in energy conservation in electric vehicles as the number of electric vehicles and hybrid electric vehicles grows. Vehicle power systems largely process and manage the energy flow in hybrid and plug-in electric cars, as well as the speed-torque generated by the motor.

𝐍𝐞𝐞𝐝 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 + 𝐆𝐫𝐚𝐩𝐡𝐬 𝐇𝐞𝐫𝐞:https://www.stellarmr.com/report/req_sample/Power-Electronics-Market/430

What is Power Electronics Market Regional Insight?

Telematics has proven to be a game changer in the mining business. Sensors connected to the internet of things (IoT) provide feedback to the fleet management, reducing downtime due to faults and assisting in maintenance planning. Companies are continuously searching for process optimization in an increasingly competitive market across all industries, which has boosted the demand for automation in the mining industry. Drones are being utilised to investigate and monitor mines. Drones guarantee that areas are clear prior to explosions, track post-blast odors, and enhance overall site safety. BHP (Australia) has been employing drones for surveillance at its Australian operations. In the mining business, automation and teleportation technologies considerably boost productivity and efficiency.

What is Power Electronics Market Segmentation?

by Offering

Power Discrete
Power Module
Power IC
by Material

Silicon
Silicon Carbide
Gallium Nitrid
by Voltage

Low Voltage
Medium Voltage
High Voltage
by Vertical

Consumer Electronics
Industrial
Automotive & Transportation
ICT
Aerospace & Defense
Other

𝐅𝐑𝐄𝐄 𝐆𝐞𝐭 𝐚 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰!https://www.stellarmr.com/report/req_sample/Power-Electronics-Market/430

Some of the current players in the Power Electronics Market are:
Analog Devices (US)
Hitachi (Japan)
Infineon Technologies (Germany)
STMicroelectronics (Switzerland)
Mitsubishi Electric (Japan)
Fuji Electric (Japan)
NXP Semiconductors (Netherlands)
Renesas Electronics (Japan)
Toshiba (Japan)
ABB (Switzerland)
GaN Systems (Canada)
Microchip (US)
ROHM (Japan)

Key Offerings:

Past Market Size and Competitive Landscape
Power Electronics Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Power Electronics Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company's vision is to be an integral part of the client's business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

This release was published on openPR.