Research Nester released a report titled “North America & Europe Power Electronics Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the North America & Europe power electronics market in terms of market segmentation by type, by voltage, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Power electronics is a vast field that forms an integral part of electrical engineering and provides solutions for the effective power conversion. Newly developed power semiconductor integrated devices such as power MOSFET, thyristor and IGBT, are resulting in growth in the demand for these devices. The North America power electronics market is projected to attain a CAGR of 5.5% over the forecast period, i.e., 2019-2027. On the other hand, the power electronics market in Europe is anticipated to grow at a CAGR of 4.5% during the forecast period. Moreover, the market in Europe is anticipated to reach an estimated market value of USD 20,000 Million by the end of 2027. On the basis of region, the market in North America is segmented into U.S., Canada and Mexico, out of which, the market in the United States is anticipated to hold the largest share in the market of about USD 18,000 million by 2027.
The market for power electronics in North America and Europe is segmented by type, by voltage and by end user. Out of these, the segment for type is further sub-segmented into discrete, module and IC. The IC segment is anticipated to hold the largest share in the market in the coming years and the discrete segment is projected to grow at the highest CAGR of around 7.5% over the forecast period. Further, this segment is estimated to observe increased incremental opportunity created by the discrete segment in U.S. power electronics market.
Increased Usage of Power Devices by Various Industries to Drive Market Growth
The increasing use of power devices in various end user industries such as automotive industry is anticipated to increase the usage for power electronic devices. Growing production of electric vehicles and increasing government initiatives that further promote vehicle penetration are additional factors estimated to contribute towards the market growth. However, the high cost associated with power electronics is estimated to become a major factor restricting the growth of power electronics market in North America & Europe.
This report also provides the existing competitive scenario of some of the key players of the North America & Europe power electronics market which includes company profiling of International Rectifier, Vishay Intertechnology (Siliconix), Infineon Technologies, Pulse, The Bergquist Company, Bosch Rexroth, Rockwell Automation, SynQor, Artesyn and Power-One. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the North America & Europe power electronics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.