Press release
Steering the Future: Power Electronics Market Growth, Key Players, and Trends
Power Electronics Market
What Is The Projected Market Size Of The Global Power Electronics Market And Its Growth Rate?
The power electronics market, growing persistently over the years, is set to compound its growth from:
- $48.26 billion in 2025 to $50.62 billion in 2025 (CAGR of 4.9%)
- Projected to reach $63.18 billion in 2029 (CAGR of 5.7%)
Drives in electronics and semiconductor industry, expansion of renewable energy systems, and rise in electric vehicle adoption have largely contributed to the market's growth. The forecast period foresees growth propelled by tailor-made power electronic solutions, power electronic integration in smart grids, and power electronics in energy storage.
What Is Driving The Growth In The Power Electronics Market?
The surge in power electronic market is attributed to the rapid advancement of electric vehicles. Power electronics are instrumental in managing the vehicle's electrical power flow and energy. With 26 million electric vehicles assumedly hitting the road in 2022, according to the International Energy Agency (IEA), the development of electric vehicles is expected to significantly fuel the power electronics market.
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Who Are the Key Players Driving Power Electronics Market Growth?
Key players maneuvering the power electronics market include:
- ABB Ltd.
- Infineon Technologies AG
- STMicroelectronics
- Texas Instruments incorporated
- Toshiba Corporations
- Vishay Intertechnology
- NXP Semiconductors
- GaN Systems Inc.
- Renesas Electronics Corporation
- Microsemi Corporation, and more
What Are The Key Trends In The Power Electronics Market?
Future markets will magnify major trends that include:
- GaN and SiC power semiconductor materials
- Regulatory compliance in power electronics safety
- High-frequency and miniaturized power converters
- IoT integration in power electronics for smart devices
What Are The Segments Of The Global Power Electronics Market?
The global Power Electronics market is segmented into the following categories:
- By Product: Discrete, Module
- By Material: Silicon, Silicon Carbide, Gallium Nitride
- By Voltage: Low Voltage, Medium Voltage, High Voltage
- By Application: Power Management, UPS, Renewable, Other Applications
- By End User Industry: Automotive, Consumer Electronics, IT and Telecommunication, Military And Aerospace, Industrial, Energy And Power, Other End Use Industries
Which Region Leads The Power Electronics Market?
The Asia-Pacific region heralded the power electronics market in 2025. The region also is anticipated to be the fastest-growing during the forecast period.
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What Is Covered In The Power Electronics Market Global Market Report?
- Market Size Analysis: Analyze the Power Electronics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Power Electronics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Power Electronics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Power Electronics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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