Power Electronics Market: Automotive vertical expected to hold major share

The power electronics market was valued at USD 36.93 Billion in 2017 and is expected to reach USD 51.01 Billion by 2023, at a CAGR of 5.5% during the forecast period. The base year considered for the study is 2017, and the forecast period considered is 2018–2023.

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This report provides a detailed analysis of the power electronics market based on device type, material, application, vertical, and region. The report forecasts the market size, in terms of value, for various segments with regard to 4 main regions—North America, Europe, APAC, and RoW. It strategically profiles the key players and comprehensively analyzes their market rankings and core competencies, along with detailing the competitive landscape for the market leaders.

Automotive vertical expected to hold major share of the power electronics market between 2018 and 2023

Power electronics play a vital role in the automotive segment as they help optimize the use of electrical energy. Increasing concerns over environmental pollution and sustainable growth are boosting the growth of the market for hybrid electric vehicles and high-end automobiles. Power electronic components, including MOSFETs and IGBTs, are used as a power electronic switch in vehicles to increase the fuel efficiency of the vehicle.

APAC expected to hold major share of the power electronics market between 2018 and 2023

APAC has been the fastest-growing region in terms of power electronic products and solutions compared to other regions. The growth is attributed to the presence of large number of automotive and consumer electronics manufacturers in APAC and growing demand for power electronic devices in automotive and consumer applications. Moreover, the growing demand of industrial and energy & power verticals for power electronic devices helps the market to grow further in the region.

Infineon Technologies (Germany), Texas Instruments (US), On Semiconductor (US), STMicroelectronics(Switzerland), Mitsubishi Electric (Japan), Fuji Electric (Japan), Renesas Electronics (Japan), Toshiba (Japan), NXP Semiconductors (The Netherland), Vishay Intertechnology (US), Maxim Integrated Products (US), SEMIKRON (Germany), ABB (Switzerland), Hitachi (Japan), Analog Devices (US), ROHM Semiconductor (Japan), Microsemi (US), Littelfuse (US), Microchip Technology (US), and Danfoss (Denmark) are some of the major players in the power electronics market.

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