Power Electronics Market 2021 Global Trend, Segmentation and Opportunities Forecast to 2027

Power Electronics Market 2021 Global Trend, Segmentation and Opportunities Forecast to 2027

The power electronics market analysis document represents a detailed collection of prioritized market definitions, industry scope and reach, and pivotal industry insights. Information about the many pitfalls of the market as well as the frequent challenges encountered by core industry players have been summarized in the report. That apart, the document also endorses details about the numerous driving parameters impacting the revenue landscape of this vertical.

Power electronics market is estimated to witness stellar growth underscored by rising requirement for electronics modules in smart home appliances and purchase of advanced consumer electronics. These modules are used extensively in air conditioners, smart TVs, HVAC control systems, robotic vacuums, smart energy meters, and other smart appliances for increasing the power efficiency of devices and to abstain the possibility of electrocutions. Mounting inclination towards IoT and AI technologies in smart homes could create new business prospects for power electronic manufacturers.

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Electric vehicles are steadily replacing conventional gasoline vehicles and are gaining prominent across North America and Asia Pacific. Escalating prices of fuel in APAC has incited consumers to shift towards more affordable transportation solutions like EVs. Over the coming years, it is likely that electric vehicles could become with preferred mode of transit in view of new technological advancements in longer lasting and affordable batteries.

This shift could also evidently ramp up the production of power electronics systems, such as MOSFETs, power switches, power modules, IGBTs, and power management integrated circuits (PMICs), as there are heavily integrated into battery management units (BMU), automotive powertrain systems, and motor drives. Government initiatives to encourage sales of EVs as to concerns over emissions and the environment could boost supply and demand of power electronics in the EV sector.

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With production and sales of electric vehicles spiking up across European countries like France, the UK, Italy, Spain and Germany, the requirement for effective charging infrastructure is heightened. According to the Department for Transport, in January 2021, there were 20,775 public electric vehicle charging devices in the UK, of which, 3,880 were fast chargers. These charging infrastructures are integrated with a myriad of power electronic systems. Incremental construction of new EV charging stations across remote locations in Europe may augment the power electronics business outlook across the region. As per a report, the Europe power electronics market was valued at over USD 4 billion in 2020 is anticipated to register 4.5% CAGR between 2021 to 2027.

Companies like NXP Semiconductor N.V., Texas Instruments Incorporated, Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, STMicroelectronics N.V., ON Semiconductor Corporation, Infineon Technologies AG, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, among others are holding a significant share in the power electronics market.

Major Key Points from Table of Content:

Chapter 6   Power Electronics Market, By Application

6.1    Key trends, by application

6.2    Automotive & transportation

6.2.1    Power electronics market estimates and forecast, 2016 - 2027

6.3    Consumer electronics

6.3.1    Market estimates and forecast, 2016 - 2027

6.4    ICT

6.4.1    Market estimates and forecast, 2016 - 2027

6.5    Industrial

6.5.1    Market estimates and forecast, 2016 - 2027

6.6    Energy

6.6.1    Market estimates and forecast, 2016 - 2027

6.7    Others

6.7.1    Market estimates and forecast, 2016 – 2027

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