Power electronics market size to grow by USD 9.44 billion from 2022 to 2027, APAC is estimated to contribute 54% to the growth of the global market – Technavio

NEW YORK, Oct. 30, 2023 /PRNewswire/ — The power electronics market size is expected to grow by USD 9.44 billion from 2022 to 2027. The growth momentum of the market will accelerate at a CAGR of 5.55% during the forecast period, according to Technavio. APAC is estimated to contribute 54% to the growth of the global market during the forecast period. The market growth in APAC can be attributed to the growing demand from the developing nations in this region for power. It is expected that by 2026 the energy demand will increase up to 1.5 times that of 2021. This demand will be met partially from renewable sources for which every country has set targets. The key contributors to the market in APAC are Japan, China, South Korea, and India. Furthermore, policies on manufacturing by the Chinese and Indian governments also drive market growth in this region. For more insights on the historic data (2017 to 2021), and forecast market size (2023 to 2027) – Request a report sample 

Power electronics market 2023-2027: Key Driver

The market is driven by innovations to reduce the design time of power electronic systems. The performance, efficiency, cost, and weight of the systems are determined during the design part of the manufacturing cycle of power electronic components. Different physical prototypes must be created for this stage using various electrical component combinations. The lengthy process of designing and evaluating physical prototypes will result in a high time-to-market (TTM) for various power electronic goods. Virtual prototyping can help improve the reliability of the system and expedite the design process, thereby reducing the TTM for the goods. This procedure eliminates the need for real prototypes by simulating the thermal and electromagnetic conditions in the circuit using the software. The industry’s embrace of new virtual prototyping tools will spur the use of power electronic components. This will increase the demand for innovation, which in turn, will drive the growth of the market focus during the forecast period.

Power electronics market 2023-2027: Segmentation

Product DiscretesModules

The market share growth by the discretes segment will be significant during the forecast period. These are silicon-based components that are primarily used in consumer electronic goods. Applications like consumer electronics and light-emitting diode (LED) lighting systems account for the majority of the demand. Discretes must be module-optimized for power efficiency before being installed. When modules are purchased directly, considerable time and effort can be spared from the hunt for and acquisition of discrete components. To shorten the design cycle and lower the TTM, engineers in various end-user industries integrate more modules than discrete ones in their electronic systems. The demand for discrete is also fueled by technological advancements used to create wide bandgap materials like silicon carbide (SiC) and GaN. Thus, owing to such factors the segment is expected to grow during the forecast period. 

Material SiliconSilicon carbideGallium nitrideGeography APACEuropeNorth AmericaSouth AmericaMiddle East and Africa

Power electronics market 2023-2027: Vendor analysis

ABB Ltd.- The company offers power electronics such as low-voltage AC drives.

Analog Devices Inc. – The company offers power electronics such as Analog Devices isoPower.

Fuji Electric Co. Ltd. – The company offers power electronics such as power MOSFETs.

Infineon Technologies AG – The company offers power electronics such as IGBT, smart power switches, and LED driver IC.

We provide a detailed analysis of around 15 vendors operating in the power electronics market, including ABB Ltd., Alcon Electronics Pvt. Ltd., Analog Devices Inc., Danfoss AS, Fuji Electric Co. Ltd., General Electric Co., Infineon Technologies AG, Kerala State Electronics Development Corp. Ltd., Magna Power Electronics, Mitsubishi Electric Corp., NXP Semiconductors NV, OM Semiconductor Corp., Power Electronics, Renesas Electronics Corp., Siemens Energy AG, STMicroelectronics NV, Texas Instruments Inc., Toshiba Corp., Vitesco Technologies Group AG, and Arete and Cocchi Technology.

Power electronics market 2023-2027: Scope

Our power electronics market report covers the following areas:

Power electronics market sizePower electronics market trendsPower electronics market industry analysis

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Power electronics market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027Detailed information on factors that will assist power electronics market growth during the next five yearsEstimation of the power electronics market size and its contribution to the parent marketPredictions on upcoming trends and changes in consumer behaviorThe growth of the smart TV sticks marketAnalysis of the market’s competitive landscape and detailed information on vendorsComprehensive details of factors that will challenge the growth of power electronics market vendors

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Table Of Contents :

1 Executive Summary

1.1 Market overviewExhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by ProductExhibit 06: Executive Summary – Chart on Market Segmentation by MaterialExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystemExhibit 10: Parent marketExhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definitionExhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysisExhibit 13: Market segments3.3 Market size 20223.4 Market outlook: Forecast for 2022-2027Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (USD billion)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (USD billion)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global power electronics market 2017 – 2021Exhibit 18: Historic Market Size – Data Table on Global power electronics market 2017 – 2021 (USD billion)4.2 Product Segment Analysis 2017 – 2021Exhibit 19: Historic Market Size – Product Segment 2017 – 2021 (USD billion)4.3 Material Segment Analysis 2017 – 2021Exhibit 20: Historic Market Size – Material Segment 2017 – 2021 (USD billion)4.4 Geography Segment Analysis 2017 – 2021Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (USD billion)4.5 Country Segment Analysis 2017 – 2021Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (USD billion)

5 Five Forces Analysis

5.1 Five forces summaryExhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyersExhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliersExhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrantsExhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutesExhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalryExhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market conditionExhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

6.1 Market segmentsExhibit 30: Chart on Product – Market share 2022-2027 (%)Exhibit 31: Data Table on Product – Market share 2022-2027 (%)6.2 Comparison by ProductExhibit 32: Chart on Comparison by ProductExhibit 33: Data Table on Comparison by Product6.3 Discretes – Market size and forecast 2022-2027Exhibit 34: Chart on Discretes – Market size and forecast 2022-2027 (USD billion)Exhibit 35: Data Table on Discretes – Market size and forecast 2022-2027 (USD billion)Exhibit 36: Chart on Discretes – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Discretes – Year-over-year growth 2022-2027 (%)6.4 Modules – Market size and forecast 2022-2027Exhibit 38: Chart on Modules – Market size and forecast 2022-2027 (USD billion)Exhibit 39: Data Table on Modules – Market size and forecast 2022-2027 (USD billion)Exhibit 40: Chart on Modules – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on Modules – Year-over-year growth 2022-2027 (%)6.5 Market opportunity by ProductExhibit 42: Market opportunity by Product (USD billion)Exhibit 43: Data Table on Market opportunity by Product (USD billion)

7 Market Segmentation by Material

7.1 Market segmentsExhibit 44: Chart on Material – Market share 2022-2027 (%)Exhibit 45: Data Table on Material – Market share 2022-2027 (%)7.2 Comparison by MaterialExhibit 46: Chart on Comparison by MaterialExhibit 47: Data Table on Comparison by Material7.3 Silicon – Market size and forecast 2022-2027Exhibit 48: Chart on Silicon – Market size and forecast 2022-2027 (USD billion)Exhibit 49: Data Table on Silicon – Market size and forecast 2022-2027 (USD billion)Exhibit 50: Chart on Silicon – Year-over-year growth 2022-2027 (%)Exhibit 51: Data Table on Silicon – Year-over-year growth 2022-2027 (%)7.4 Silicon carbide – Market size and forecast 2022-2027Exhibit 52: Chart on Silicon carbide – Market size and forecast 2022-2027 (USD billion)Exhibit 53: Data Table on Silicon carbide – Market size and forecast 2022-2027 (USD billion)Exhibit 54: Chart on Silicon carbide – Year-over-year growth 2022-2027 (%)Exhibit 55: Data Table on Silicon carbide – Year-over-year growth 2022-2027 (%)7.5 Gallium nitride – Market size and forecast 2022-2027Exhibit 56: Chart on Gallium nitride – Market size and forecast 2022-2027 (USD billion)Exhibit 57: Data Table on Gallium nitride – Market size and forecast 2022-2027 (USD billion)Exhibit 58: Chart on Gallium nitride – Year-over-year growth 2022-2027 (%)Exhibit 59: Data Table on Gallium nitride – Year-over-year growth 2022-2027 (%)7.6 Market opportunity by MaterialExhibit 60: Market opportunity by Material (USD billion)Exhibit 61: Data Table on Market opportunity by Material (USD billion)

8 Customer Landscape

8.1 Customer landscape overviewExhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentationExhibit 63: Chart on Market share by geography 2022-2027 (%)Exhibit 64: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparisonExhibit 65: Chart on Geographic comparisonExhibit 66: Data Table on Geographic comparison9.3 APAC – Market size and forecast 2022-2027Exhibit 67: Chart on APAC – Market size and forecast 2022-2027 (USD billion)Exhibit 68: Data Table on APAC – Market size and forecast 2022-2027 (USD billion)Exhibit 69: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 70: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.4 Europe – Market size and forecast 2022-2027Exhibit 71: Chart on Europe – Market size and forecast 2022-2027 (USD billion)Exhibit 72: Data Table on Europe – Market size and forecast 2022-2027 (USD billion)Exhibit 73: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 74: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.5 North America – Market size and forecast 2022-2027Exhibit 75: Chart on North America – Market size and forecast 2022-2027 (USD billion)Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 (USD billion)Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)9.6 South America – Market size and forecast 2022-2027Exhibit 79: Chart on South America – Market size and forecast 2022-2027 (USD billion)Exhibit 80: Data Table on South America – Market size and forecast 2022-2027 (USD billion)Exhibit 81: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 82: Data Table on South America – Year-over-year growth 2022-2027 (%)9.7 Middle East and Africa – Market size and forecast 2022-2027Exhibit 83: Chart on Middle East and Africa – Market size and forecast 2022-2027 (USD billion)Exhibit 84: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (USD billion)Exhibit 85: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 86: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.8 China – Market size and forecast 2022-2027Exhibit 87: Chart on China – Market size and forecast 2022-2027 (USD billion)Exhibit 88: Data Table on China – Market size and forecast 2022-2027 (USD billion)Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)9.9 US – Market size and forecast 2022-2027Exhibit 91: Chart on US – Market size and forecast 2022-2027 (USD billion)Exhibit 92: Data Table on US – Market size and forecast 2022-2027 (USD billion)Exhibit 93: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 94: Data Table on US – Year-over-year growth 2022-2027 (%)9.10 Japan – Market size and forecast 2022-2027Exhibit 95: Chart on Japan – Market size and forecast 2022-2027 (USD billion)Exhibit 96: Data Table on Japan – Market size and forecast 2022-2027 (USD billion)Exhibit 97: Chart on Japan – Year-over-year growth 2022-2027 (%)Exhibit 98: Data Table on Japan – Year-over-year growth 2022-2027 (%)9.11 Germany – Market size and forecast 2022-2027Exhibit 99: Chart on Germany – Market size and forecast 2022-2027 (USD billion)Exhibit 100: Data Table on Germany – Market size and forecast 2022-2027 (USD billion)Exhibit 101: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 102: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.12 South Korea – Market size and forecast 2022-2027Exhibit 103: Chart on South Korea – Market size and forecast 2022-2027 (USD billion)Exhibit 104: Data Table on South Korea – Market size and forecast 2022-2027 (USD billion)Exhibit 105: Chart on South Korea – Year-over-year growth 2022-2027 (%)Exhibit 106: Data Table on South Korea – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geographyExhibit 107: Market opportunity by geography (USD billion)Exhibit 108: Data Tables on Market opportunity by geography (USD billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers10.2 Market challenges10.3 Impact of drivers and challengesExhibit 109: Impact of drivers and challenges in 2022 and 202710.4 Market trends

11 Vendor Landscape

11.1 Overview11.2 Vendor landscapeExhibit 110: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruptionExhibit 111: Overview on factors of disruption11.4 Industry risksExhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors coveredExhibit 113: Vendors covered12.2 Market positioning of vendorsExhibit 114: Matrix on vendor position and classification12.3 ABB Ltd.Exhibit 115: ABB Ltd. – OverviewExhibit 116: ABB Ltd. – Business segmentsExhibit 117: ABB Ltd. – Key offeringsExhibit 118: ABB Ltd. – Segment focus12.4 Analog Devices Inc.Exhibit 119: Analog Devices Inc. – OverviewExhibit 120: Analog Devices Inc. – Business segmentsExhibit 121: Analog Devices Inc. – Key newsExhibit 122: Analog Devices Inc. – Key offeringsExhibit 123: Analog Devices Inc. – Segment focus12.5 Fuji Electric Co. Ltd.Exhibit 124: Fuji Electric Co. Ltd. – OverviewExhibit 125: Fuji Electric Co. Ltd. – Business segmentsExhibit 126: Fuji Electric Co. Ltd. – Key offeringsExhibit 127: Fuji Electric Co. Ltd. – Segment focus12.6 Infineon Technologies AGExhibit 128: Infineon Technologies AG – OverviewExhibit 129: Infineon Technologies AG – Business segmentsExhibit 130: Infineon Technologies AG – Key newsExhibit 131: Infineon Technologies AG – Key offeringsExhibit 132: Infineon Technologies AG – Segment focus12.7 Kerala State Electronics Development Corp. Ltd.Exhibit 133: Kerala State Electronics Development Corp. Ltd. – OverviewExhibit 134: Kerala State Electronics Development Corp. Ltd. – Product / ServiceExhibit 135: Kerala State Electronics Development Corp. Ltd. – Key offerings12.8 Magna-Power Electronics Inc.Exhibit 136: Magna-Power Electronics Inc. – OverviewExhibit 137: Magna-Power Electronics Inc. – Product / ServiceExhibit 138: Magna-Power Electronics Inc. – Key offerings12.9 Mitsubishi Electric Corp.Exhibit 139: Mitsubishi Electric Corp. – OverviewExhibit 140: Mitsubishi Electric Corp. – Business segmentsExhibit 141: Mitsubishi Electric Corp. – Key newsExhibit 142: Mitsubishi Electric Corp. – Key offeringsExhibit 143: Mitsubishi Electric Corp. – Segment focus12.10 NXP Semiconductors NVExhibit 144: NXP Semiconductors NV – OverviewExhibit 145: NXP Semiconductors NV – Product / ServiceExhibit 146: NXP Semiconductors NV – Key newsExhibit 147: NXP Semiconductors NV – Key offerings12.11 ON Semiconductor Corp.Exhibit 148: ON Semiconductor Corp. – OverviewExhibit 149: ON Semiconductor Corp. – Business segmentsExhibit 150: ON Semiconductor Corp. – Key offeringsExhibit 151: ON Semiconductor Corp. – Segment focus12.12 Power ElectronicsExhibit 152: Power Electronics – OverviewExhibit 153: Power Electronics – Product / ServiceExhibit 154: Power Electronics – Key offerings12.13 Renesas Electronics Corp.Exhibit 155: Renesas Electronics Corp. – OverviewExhibit 156: Renesas Electronics Corp. – Business segmentsExhibit 157: Renesas Electronics Corp. – Key offeringsExhibit 158: Renesas Electronics Corp. – Segment focus12.14 Siemens Energy AGExhibit 159: Siemens Energy AG – OverviewExhibit 160: Siemens Energy AG – Business segmentsExhibit 161: Siemens Energy AG – Key newsExhibit 162: Siemens Energy AG – Key offeringsExhibit 163: Siemens Energy AG – Segment focus12.15 STMicroelectronics NVExhibit 164: STMicroelectronics NV – OverviewExhibit 165: STMicroelectronics NV – Business segmentsExhibit 166: STMicroelectronics NV – Key newsExhibit 167: STMicroelectronics NV – Key offeringsExhibit 168: STMicroelectronics NV – Segment focus12.16 Texas Instruments Inc.Exhibit 169: Texas Instruments Inc. – OverviewExhibit 170: Texas Instruments Inc. – Business segmentsExhibit 171: Texas Instruments Inc. – Key newsExhibit 172: Texas Instruments Inc. – Key offeringsExhibit 173: Texas Instruments Inc. – Segment focus12.17 Toshiba Corp.Exhibit 174: Toshiba Corp. – OverviewExhibit 175: Toshiba Corp. – Business segmentsExhibit 176: Toshiba Corp. – Key offeringsExhibit 177: Toshiba Corp. – Segment focus

13 Appendix

13.1 Scope of the report13.2 Inclusions and exclusions checklistExhibit 178: Inclusions checklistExhibit 179: Exclusions checklist13.3 Currency conversion rates for USUSDExhibit 180: Currency conversion rates for USUSD13.4 Research methodologyExhibit 181: Research methodologyExhibit 182: Validation techniques employed for market sizingExhibit 183: Information sources13.5 List of abbreviationsExhibit 184: List of abbreviations

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