“The overall power electronics market is expected to grow at a CAGR of2.4%”
The power electronics market is expected to reachUSD41.73 billion by 2022, growing at a CAGR of 2.4% between 2016 and 2022. Enhancement of power infrastructure and the growing focus toward using renewable power sources is one of the major factors fueling the growth of this market. In addition, increasing demand for energy-efficient battery-powered portable devices and rising trend of energy harvesting technologies are expected to generate demand for power electronics. The key restraining factor for the growth of the power electronics market are the complex design and integration process for advanced technology devices and slow adoption of new technologies.
“The power electronics market for gallium nitride (GaN) is expected to grow at a highest rate during the forecast period”
The market for gallium nitride (GaN) is expected to grow at the highest rate between 2016 and 2022. GaN has various features such as a wider band gap, high break-down voltage, larger critical electric field, and higher thermal conductivity. These features assist in providing higher voltages and high switching frequencies, handling higher power density, and offering enhanced power efficiency than the pure silicon (Si), Silicon Carbide (SiC), and sapphire substrate wafer technology-based devices. Hence, the power electronics market for GaN is expected to grow at a faster rate than the other materials.
“Power IC is expected to hold the largest share during the forecast period”
The power integrated circuits (IC) is expected to hold the largest share of the power electronics market during 2016-2022.Power ICs are suitable for high-frequency range, high power amplification, and microwave radiation applications. The large market share of IC based on device type segment in power electronics market can be attributed to the increasing demand of power ICs from the RF industry, specifically in the case of monolithic microwave integrated circuits MMICs for high-frequency power amplification.
“APAC to hold the largest market and also grow at the highest rate in the power electronics market”
Asia-Pacific (APAC) is expected to hold the largest share of the power electronics market during 2016–2022. This region is home to many established power electronics manufacturing companies such as Renesas Electronics Corp. (Japan) and Mitsubishi Electric Corp. (Japan) among others. The power electronics market in APAC is expected to grow at a high rate during the forecast period. The APAC region has emerged as a strong manufacturing hub with leading manufacturers of consumer goods increasing their manufacturing activities in this region. Cost advantages and initiatives by different countries in this region are expected to boost the domestic manufacturing and provide further impetus for the growth of the power electronics market.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with key people in the power electronics market. The break-up of primary participants for the report has been shown below:
- By Company Type: Tier 1 – 20 %, Tier 2 – 55%, and Tier 3 – 25%
- By Designation: C-Level Executives –50%, Directors – 25%, and Others – 25%
- By Region: Americas –60%, Europe – 20%, APAC – 10%, and RoW – 10%
The report also profiles the key players in the power electronics market and analyzes their market ranking. The prominent players profiled in this report are Infineon Technologies AG (Germany), Texas Instruments, Inc. (U.S.), ON Semiconductor Corp. (U.S.), STMicroelectronics N.V. (Switzerland), Maxim Integrated Products, Inc. (U.S.), Fuji Electric Co., Ltd. (Japan), NXP Semiconductors N.V. (The Netherland), Qualcomm, Inc. (U.S), Vishay Intertechnology, Inc. (U.S.), Renesas Electronics Corp. (Japan), and Mitsubishi Electric Corp. (Japan).
This research report categorizes the overall power electronics market on the basis of material, device type, vertical, and geography. Moreover, the report provides the Porter’s five forces analysis, along with the description of each of its forces and their respective impact on the power electronics market. Furthermore, the report discusses the major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
Reasons to Buy the Report
The report would help leaders/new entrants in the power electronics market in the following ways:
- This report segments the power electronics market comprehensively and provides the closest market size estimation for sub segments across different regions.
- The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, and opportunities for market growth.
- This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product launches, mergers, acquisitions, and collaborations.