Power electronics is the application of solid-state electronics, which converts and controls electric power from the source to the load in an efficient and convenient manner. Basically, it is used to control the fluctuated power from one device to other power devices such as diodes, transistors and thyristors.
According to the market research report “Power Electronics Market: By Substrate Wafer Technology (SiC, GaN and Others); By Devices and By Application (Industrial, Solar power, Wind power, Electric cars, Aerospace and Consumer Electronics) - With Forecast (2016-2021)”, published by IndustryARC, estimates that Asia-Pacific will register fast growth during the forecast period.
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Power electronics applications include industrial, solar power, wind power, electric cars, aerospace and consumer electronics.
The power electronics devices are compact and are using across various applications. Hence, the Power Electronics Market is having a great demand.
Scope & Regional Forecast of the Power Electronics Market
The numerous advancements in technology, research and development in the electronics sector along with increasing use of renewable sources of energy followed by the increase in adoption of electric cars and defense are driving the Power Electronics Market with significant growth. This market is being driven with rapid growth by the increasing adoption of active electronics in various fields such as ICT, telecommunications, health-care, electric vehicles and others.
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However, high costs, deposition of GaN on silica materials which is in turn very difficult to reach in high voltage ranges are the major factors that restrains the Power Electronics Market growth. In addition, highly expensive manufacturing process and time consuming process are also restraining the market growth.
Americas expected to register high growth and to maintain its dominance till the end of the forecast period. Asia-Pacific is projected to have the fastest growth during the forecast period, followed by Europe.
Emerging nations such as China, India, South Korea and Singapore are in expansion of their manufacturing activities across various industrial verticals, such as consumer electronics, telecommunication, automotive, military & defense. Hence, Asia-Pacific is registering fast growth.
Segmentations & Key Players Involved in the Power Electronics Market
The Power Electronics Market can be broken down into various segmentations on the basis of -
- Substrate Wafer Technology: GaN, SiC and Others.
- Devices: Power IC, Power Module & Power Discrete, Diode Rectifiers, AC-DC Converters, AC-AC Converters, DC-DC Converters, DC-AC Converters and Static Switches.
- Application: Industrial, Solar Power, Wind Power, Electric cars, Aeropsace and Consumer Electronics.
- Region: Americas, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Power Electronics Market are as follows:
- Fairchild Semiconductor
- Infineon Technologies AG
- Mitsubishi Electric Corp
- Texas Instruments Inc.
- Vishay Intertechnology
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Why this report is useful?
* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a five year period of 2016 - 2021, to assess how the market will develop.
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