APAC expected to hold major share of the power electronics market

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. This report provides a detailed analysis of the power electronics market based on device type, material, application, vertical, and region.

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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. The research methodology used to estimate and forecast the power electronics market begins with capturing the data on key vendor revenues through secondary research. Secondary sources referred for this research study include government sources, World Economic Outlook, trade websites, Hoovers, Bloomberg Businessweek, Factiva, OneSource, World Bank data, OPEC data, OICA data, corporate filings (such as annual reports, investor presentations, and financial statements), and trade, business, and professional associations.

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.

On the basis of application, the power electronics market has been segmented into power management, drive, UPS, rail traction, transportation, renewable, and others. The power electronics market for the transportation application is expected to grow at the highest CAGR between 2018 and 2023 owing to increasing production of HEVs and EVs and rising demand for electric vehicle charging stations across the globe.

The power electronics market is segmented on the basis of vertical into ICT, consumer electronics, energy and power, industrial, automotive, aerospace and defense, and others. The automotive vertical is expected to grow at the highest CAGR during the forecast period owing to the increasing focus on hybrid electric vehicles (HEVs) and EVs and increasing demand for cars and other passenger vehicles across the globe.

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