The global power electronics market was valued at $12,872.0 million in 2015 and is expected to witness a CAGR of 6.2% during 2016 – 2022. Based on technology, the power electronics market generated highest revenue from non-isolated DC-DC segment in 2015. Geographically, Asia-Pacific was the largest contributor to the global revenues of power electronics market.
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Power electronic devices ensure effective delivery of power, providing high reliability, security and flexibility to the power system. Power electronic devices play a key role in the conversion of the existing electrical grids to next-generation networks. At present, approximately 30% of all power generation is carried out using power electronic devices, either at the point of power generation or at the final consumption of electricity. It is expected that by 2030, up to 80% of the electricity produced will use power electronic devices. The high level of integration of power electronic devices with electricity grids, increase in demand for network reliability, government focus on reduction of environmental pollution and energy savings is further expected to drive the market during the forecast period.
The applications of power electronic devices are expanding across various sectors, especially in the automobile industry. The evolution of electric vehicles (EVs) and hybrid electric vehicles (HEVs) is driving the demand for power electronic devices in automotive industry. In addition, the increase in infotainment applications in the automobiles is driving the demand for power electronic devices with high power density. The power electronics are increasingly being used in the defense and renewable energy sectors. These devices offer conservation and a reliable source of energy to fill the military’s communication and weapon needs. Other sectors where the applications of power electronic devices are increasing include consumer electronics, healthcare, manufacturing, and telecom.
The information and data in the publication “Global Power Electronics Market Size, Share, Development, Growth and Demand Forecast to 2022” represent the research and analysis of data from various primary and secondary sources. Top down approach has been used to calculate the regional market size, whereas bottom up approach has been used to calculate the market by type and application. P&S Market Research analysts and consultants interact with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
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The vendors in the market offer power electronic devices for use in a range of applications. The key vendors in the power electronics market are focusing on energy conservation in order to remain competitive. Several vendors are working to increase power density, thereby affecting the cost of power electronic devices, and associated applications. The cost of power electronic devices is likely to increase during the forecast period. The increase in power density results in increase in power efficiency of the devices, thus helping end-users conserve energy over a long period. The depletion and rising cost of fossil fuels makes energy conservation a requirement and a trend that could trigger market growth over the next few years.
Some of the major companies operating in the global power electronics market include NXP Semiconductors N.V., Infineon Technologies AG, STMicroelectronics N.V., ON Semiconductor, Vishay Intertechnology Inc., Microsemi Corporation, Toshiba Corporation, and Texas Instruments Inc.
Global Power Electronics Market Segmentation
Power & Energy
Aerospace & Defense
Low voltage (400V – 1.1kV)
Medium voltage (1.2KV – 1.9kV)
High voltage (2KV – 3.3KV)
Very high voltage (> 3.3KV)
Global Next Generation Power Electronics Market Segmentation
SiC Power Device
GaN Power Device
Rest of North America
Rest of Europe
Rest of Asia-Pacific
Middle-East & Africa (MEA)
Rest of RoW
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