Market Opportunities and Challenges in the Power Electronics Industry

1
MarketsandMarkets Presents
The Power Electronics Market is projected to grow
from USD 37.4 billion in 2021 to USD 46.3 billion
by 2026 it is expected to grow at a CAGR of 4.4
during the forecast period. Owing to COVID-19,
the Power Electronics Market faced some headwinds
for 20202021. The use of SiC and GaN has
resulted in improvements in the existing
semiconductor technologies, such as MOSFETs and
IGBTs. Power electronics-based power converters
continue to be used in renewable energy systems,
which mainly include wind and solar energy
systems.
2
MarketsandMarkets Presents
Power IC segment to account for the largest share
of the Power Electronics Market in 2021 Low
power ICs offer high-efficiency and a compact
form factor needed for compact applications such
as wearables, hearables, sensors, IoT devices,
and a wide range of portable devices, such as
mobile phones and other portable electronics.
Power ICs are also used for DC-to-DC conversion,
battery charging, and voltage scaling that have
several uses across various industries. Hence,
the market for power ICs is expected to hold the
largest share of the market throughout the
forecast period.
3
MarketsandMarkets Presents
Silicon-Based Power Electronics to dominate Power
Electronics Market during the forecast
period Currently, silicon serves as the
substrate of choice for a large majority of
semiconductor wafers. Silicon-based power
electronics are also suitable for low-power
applications and applications that do not require
a wide bandgap. As silicon is a widely available
material used to manufacture a large number of
power electronics, it has the highest market
share. Download PDF Sample _at_ https//www.marketsan
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4
MarketsandMarkets Presents
Consumer Electronics vertical to register the
highest share for Power Electronics Market in
2021 Since the introduction of transistors, the
power electronics market has been primarily
driven by consumer technology. Therefore, the
consumer electronics segment is expected to have
the largest market share during the forecast
period. The growing use of consumer electronic
devices, such as smartphones, tablets, and smart
wearables, especially in developing countries, is
expected to drive the market for power
electronics. The increasing adoption of power
electronics in home appliances is also expected
to contribute to the market size of the consumer
electronics segment.
5
MarketsandMarkets Presents
China- and South Korea-based OEMs such as Oppo,
Xiaomi, Vivo, Meizu, Samsung, and Huawei are
adopting GaN-based power electronics for high
power inbox chargers for phones as well as
accessory fast chargers. The globally integrated
automotive industry is projected to experience
the largest impact during the forecast period.
Factory closures, supply chain disruptions, and
the lack of buyer confidence have negatively
impacted the demand for power electronics in the
automotive segment. The consumer electronics
industry has also been affected as a result of
the slowdown in electronics production resulting
from the decline in the automotive industry.
6
MarketsandMarkets Presents
Market in APAC estimated to have the largest
share during the forecast period APAC is
estimated to lead the Power Electronics Market
and register the highest CAGR during the forecast
period. The markets growth in APAC is attributed
to the large presence of consumer electronics,
ICT, industrial, and automotive verticals across
China, Japan, and South Korea. The increasing
need for power generation and government
initiatives in various countries to promote
renewable energy infrastructure are also driving
the overall market in APAC. The increasing
population in developing countries, such as China
and India, leading to the increased deployment of
communication infrastructure, is expected to
boost the market growth for power electronics.
7
MarketsandMarkets Presents
The presence of several well-established Power
Electronics Players, such as Renesas Electronics,
Mitsubishi Electric, Fuji Electric, ROHM, and
Toshiba, contributes to the regional markets
growth. Emerging Chinese players, such as BYD,
Huawei, CRRC, and Sungrow, are helping China in
strengthening its domestic market for power
electronics. These factors are expected to
contribute to the growth of the Power Electronics
Market in APAC. For More Details -
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ower-electronics-market-204729766.html
8
MarketsandMarkets Presents
Key Players Major vendors in the Power
Electronics Market include Infineon Technologies
(Germany), ON Semiconductor (US),
STMicroelectronics (Switzerland), Mitsubishi
Electric (Japan), Vishay Intertechnology (US),
Fuji Electric (Japan), NXP Semiconductors
(Netherlands), Renesas Electronics (Japan), Texas
Instruments (US), Toshiba (Japan), ABB
(Switzerland), GaN Systems (Canada), Littelfuse
(US), Maxim Integrated (US), Microchip (US), ROHM
(Japan), SEMIKRON (Germany), Transphorm (US),
UnitedSiC (US), and Wolfspeed, A Cree Company
(US), Euclid Techlabs (US), GeneSiC (US), EPC
(US), Analog Devices (US), and Hitachi (Japan).
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MarketsandMarkets Presents
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