Power Electronics Market
Opportunity Analysis and Industry Forecast, 2016-2023
Global Opportunity Analysis and Industry Forecast, 2014-2022
Introduction • Power Electronics Market is expected to garner $25 billion by 2022, registering a CAGR of 8.9% during the forecast period 2016-2022. • Increasing adoption of power electronics in electric vehicles and aggrandized need for power management devices have led to higher adoption of power electronics in energy & power, automotive, consumer electronics, and other industries. • Power electronic devices are integrated in electronic applications to enable power management and reduce power leakage. • Asia-Pacific dominates the global market in terms of revenue, accounting for more than 50% share of the global market, followed by Europe.
Key Factors of the Market • Rise in demand for higher efficiency, faster switching, and minimal power loss are some of the key driving factors of the market. •
IGBT device is the leading segment in the global power electronics market, and is expected to maintain this trend throughout the forecast period.
• Power electronic devices offer numerous benefits, such as high efficiency, low system complexity, and reduced system maintenance. • Substantial demand for electric vehicles trend of advanced power semiconductor to achieve better efficiency are expected to fuel its adoption in the energy & power, inverter & UPS, and other industry sectors.
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Key Benefits of the Market • In 2014, IGBT segment dominated the global power electronics market in terms of revenue, and is projected to grow at a CAGR of 10.5% during the forecast period. • Power IC segment is projected to grow at a CAGR of 10.4% during the analysis period. • Automotive segment is expected to exhibit the fastest growth during the forecast period, owing to increase in applications of power management devices in e-bikes and e-cars. • China is the major shareholder in the Asia-Pacific power electronics market, accounting for about 34% share.
Market Segmentation
Key Players of the Market •
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Infineon Technologies AG Mitsubishi Electric Corp. Toshiba Corporation ABB Group STMicroelectronics Fuji Electric Co. Ltd. Rockwell Automation, Inc. Renesas Electronics Corporation Microsemi Corporation and Texas Instruments
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