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Power Electronics Market By Product Type (Discrete, Module, IC); By Material Type (Sapphire, Gallium nitride, Silicon, Silicon carbide); By Application Type (Automotive, Consumer Electronics, ICT, Industrial, Aerospace & Defense) - Global Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Power Electronics Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Power Electronics Market Overview

Power electronics is a device that converts and controls electric power from the source to the load in a capable and apt manner. Fluctuated power from one device to the other power device can be controlled by power electronics device. It can control the flow of energy in unidirectional as well as bidirectional, depending upon the usage. It supports power management to enhance energy conservation in various applications such as industrial systems, electric vehicles and consumer electronic. Power electronics is used in various industries such as power & energy, aerospace & defense, automotive, ICT and consumer electronics.Power electronics market is expanding due to the demand for alternative energy systems such as wind, solar and geothermal. Major factors which contribute to the growth of power electronics are advance technology and need to provide stable power supply.

Market Size and Forecast

The power electronics market, in terms of value, is estimated around USD 35 Billion in 2016 and is expected that it will grow rapidly during the forecasted period at a CAGR of around 7.12%. Increasing awareness about depletion of fossil fuels, increasing CO2 and air pollution are the factors stimulating power electronics market. Power electronics market has changed rapidly due to the developments of the semiconductor devices and the microprocessor technology. 

Asia Pacific is anticipated to hold the largest market share and is predicted to grow with a highest CAGR during the forecast period. Large number of automotive and consumer electronics manufacturers and demand for power electronic devices in these industries contributed to the growth of the power electronics market globally. It is estimated that 49% of China’s population owes smartphones which accelerate the market of power electronics in Asia Pacific.North America is projected to be the fastest growing market for power electronics due to presence of large number of domestic consumer goods manufacturers.Europe is anticipated as a strong contributor in the power electronics market. Financial incentives in the form of grants and subsidies for electric vehicles are given by UK government. The presence of such kind of initiative drives the power electronics market in this region.CLICK TO DOWNLOAD FREE SAMPLE

Power Electronics Market

Market Segmentation

Our-in depth analysis of the global power electronics market includes the following segments:

By Product type

  • Discrete
  • Module
  • IC

By Material Type

  • Sapphire
  • Gallium nitride
  • Silicon
  • Silicon carbide

By Application Type

  • Automotive
  • Consumer Electronics
  • ICT
  • Industrial
  • Aerospace & Defense

By Region

Global power electronics market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and Challenges

Rapid use of energy resources and increase in adoption of telecommunications, self-monitoring and diagnostic systems, electric cars, and ICT are the major fields which drive the power electronics market globally.

Continuous developments and up gradations in power electronics industry contributed to the growth of power electronics market. High requirement for power density, penetration of power electronic devices in utility applications also drive the growth of power electronics market globally. Conversion of electrical grids to next-generation networks can be done by power electronics.

Challenges faced by power electronics market were high initial cost, deposition of GaN on silica materials which is a complex procedure. Manufacturing of power electronics is expensive and time consuming process.

Key players

  • Infineon Technologies
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Texas Instruments
  • On Semiconductor
  • STMicroelectronics
  • Mitsubishi Electric Corp.
  • Fuji Electric
  • Renesas Electronics
  • Toshiba Corp.
  • NXP Semiconductors
  • Vishay Intertechnology
  • Maxim Integrated Products
  • ABB Group
  • ROHM Semiconductor
  • Microchip Technology
  • Danfoss

Scope and Context

Overview of the Parent Market

Analyst View


The power electronics market is segmented as follows:

  • By Product Type Market Size & Y-O-Y Growth Analysis
  • By Application Market Size & Y-O-Y Growth Analysis
  • By Material Type Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment


Power Electronics Market

1. Report Overview

1.1. North America & Europe Power Electronics Market Overview

1.2. Why You Should Read This Report

1.3. How This Report Delivers

1.4. Key Questions Answered by This Analytical Report Include:

1.5. Who is This Report For?

1.6. Methodology

1.6.1. Primary Research

1.6.2. Secondary Research

1.6.3. Market Evaluation & Forecasting Methodology

2. Introduction to the Power Electronics Market

2.1. Power Electronics Market Structure

2.2. Power Electronics Market Definition

2.3. Power Electronics Market Taxonomy

2.4. North America Power Electronics Market Snapshot

2.5. Europe Power Electronics Market Snapshot

2.6. Power Electronics Market Dynamics

2.6.1. Power Electronics Market: Drivers

Growing use of power devices

Increasing electric vehicle penetration

Growing sales of consumer electronics and deployment in renewable energy

2.6.2. Power Electronics Market: Restraints

High cost associated with product

Limitations of power electronics and economic slow-down

2.6.3. Power Electronics Market: Trends

Product Development

Strategic Alliance

2.6.4. Power Electronics Market: Opportunities

Electric Vehicles and Charging Stations Deployment

2.6.5. Power Electronics Market: Key Regulations

3. North America Power Electronics Market, 2019-2027

3.1. Introduction

4. The U.S. Power Electronics Market, 2019-2027

4.1. Introduction

4.2. U.S. Power Electronics Market, By Type, 2019-2027

4.2.1. Introduction

4.2.2. Discrete Segment

4.2.3. Module Segment

4.2.4. IC Segment

4.3. U.S. Power Electronics Market, By Voltage, 2019-2027

4.3.1. Introduction

4.3.2. Low Voltage Segment

4.3.3. Medium Voltage Segment

4.3.4. High Voltage Segment

4.4. U.S. Power Electronics Market, By End Users Industry, 2019-2027

4.5. Introduction

4.6. U.S. Power Electronics Market Size and Forecast, By End User Industries

4.6.1. ICT Segment

4.6.2. Consumer Electronics Segment

4.6.3. Power Segment

4.6.4. Industrial Segment

4.6.5. Automotive Segment

4.6.6. Aerospace & Defense Segment

4.6.7. Others Segment

5. Canada Power Electronics Market, 2019-2027

5.1. Introduction

5.2. Canada Power Electronics Market, By Type, 2019-2027

5.2.1. Introduction

5.2.2. Discrete Segment

5.2.3. Module Segment

5.2.4. IC Segment

5.3. Canada Power Electronics Market, By Voltage, 2019-2027

5.3.1. Introduction

5.3.2. Low Voltage Segment

5.3.3. Medium Voltage Segment

5.3.4. High Voltage Segment

5.4. Canada Power Electronics Market, By End Users Industry, 2019-2027

5.5. Introduction

5.6. Canada Power Electronics Market Size and Forecast, By End User Industries

5.6.1. ICT Segment

5.6.2. Consumer Electronics Segment

5.6.3. Power Segment

5.6.4. Industrial Segment

5.6.5. Automotive Segment

5.6.6. Aerospace & Defense Segment

5.6.7. Others Segment

6. Mexico Power Electronics Market, 2019-2027

6.1. Introduction

6.2. Mexico Power Electronics Market, By Type, 2019-2027

6.2.1. Introduction

6.2.2. Discrete Segment

6.2.3. Module Segment

6.2.4. IC Segment

6.3. Mexico Power Electronics Market, By Voltage, 2019-2027

6.3.1. Introduction

6.3.2. Low Voltage Segment

6.3.3. Medium Voltage Segment

6.3.4. High Voltage Segment

6.4. Mexico Power Electronics Market, By End Users Industry, 2019-2027

6.5. Introduction

6.6. Mexico Power Electronics Market Size and Forecast, By End User Industries

6.6.1. ICT Segment

6.6.2. Consumer Electronics Segment

6.6.3. Power Segment

6.6.4. Industrial Segment

6.6.5. Automotive Segment

6.6.6. Aerospace & Defense Segment

6.6.7. Others Segment

7. The Europe Power Electronics Market, 2019-2027

7.1. Introduction

7.2. Europe Power Electronics Market, By Type, 2019-2027

7.2.1. Introduction

7.2.2. Discrete Segment

7.2.3. Module Segment

7.2.4. IC Segment

7.3. Europe Power Electronics Market, By Voltage, 2019-2027

7.3.1. Introduction

7.3.2. Low Voltage Segment

7.3.3. Medium Voltage Segment

7.3.4. High Voltage Segment

7.4. Europe Power Electronics Market, By End Users Industry, 2019-2027

7.5. Introduction

7.6. Europe Power Electronics Market Size and Forecast, By End User Industries

7.6.1. ICT Segment

7.6.2. Consumer Electronics Segment

7.6.3. Power Segment

7.6.4. Industrial Segment

7.6.5. Automotive Segment

7.6.6. Aerospace & Defense Segment

7.6.7. Others Segment

7.7. Europe Power Electronics Market, By Country, 2019-2027

7.7.1. Introduction

7.1. Europe Power Electronics Market Size and Forecast, By Country

7.1.1. Germany

7.1.2. The U.K.

7.1.3. France

7.1.4. Italy

7.1.5. Spain

7.1.6. BENELUX

7.1.7. NORDIC

7.1.8. Poland

7.1.9. Hungary

7.1.10. Turkey

7.1.11. Russia

7.1.12. Rest of Europe

8. Acronyms

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