Power Electronics Market Expected to Generate Revenue of $161.43 Billion by 2028, Globally, at a CAGR of 7.17%: Verified Market Research®

Verified Market Research

Verified Market Research

The increasing trend of adopting power electronics in electric vehicles, the advancement in power infrastructure, and the shift in focus towards the use of renewable energy sources coupled with the growing demand for portable battery-powered devices low consumption have been driving global energy. Electronics market.

Jersey City, NJ, September 21, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently released a report, “Power electronics market” By device (discrete power, power modules), by material (silicon, silicon carbide, gallium nitride), by vertical (ICT, energy and power, industrial), and by geography.

The power electronics market size was valued at USD 93.59 billion in 2020 and is projected to reach USD 161.43 billion by 2028, growing at a CAGR of 7.17% from 2021 to 2028, according to the latest study from Verified Market Research.

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Explore OCD in depth inPower electronics market

202 – Pages

126 – Tables

37 – Figures

Scope of the report

Overview of the global power electronics market

Power electronics is a branch that includes the study, analysis, and design of various circuits that are capable of converting electrical energy from one form to another. It uses different devices like inductors, capacitors, semiconductor devices and many more. Helps in energy management to improve energy conservation in various uses, such as industrial systems, electric vehicles, and consumer electronics.

Power electronics are solid-state circuit devices that are required to manipulate and control form. Power electronics enable power management to improve energy conservation. The rise in the trend of adopting power electronics in electric vehicles has contributed to the growth of the global power electronics market. The advancement in power infrastructure and the shift in focus towards the use of renewable energy sources coupled with the growing demand for energy-efficient battery-powered wearable devices have been driving the global power electronics market.

The increasing use of GaN and SiC products in various fields and increasing industrialization in developing countries are anticipated to offer lucrative opportunities for companies operating in the power electronics market during the forecast period. Certain restraints and challenges are faced which will hinder the overall growth of the Power Electronics market. Factors such as device design complexity, network capacity concerns, and the integration of advanced technology devices could hamper overall growth globally.

key developments

  • Dialog Semiconductor announced a partnership with another company called Flex Logix Technologies. This partnership aims to develop mixed-signal gate arrays.

  • In March 2020, Infineon, a European semiconductor company, announced that it will acquire Cypress Semiconductor and the deal while the deal is in the final stage.

  • In April 2020, ON Semiconductor announced portfolio expansion for industrial motor drive applications. It has introduced the NXH25C120L2C2, NXH35C120L2C2/2C2E and NXH50C120L2C2E, which are 25, 35 and 50 amp versions of Transfer Molded Power Integrated Modules (TM-PIM) for 1200 volt (V) applications.

key players. main players

The study report “Global Power Electronics Market” will provide valuable information emphasizing the global market. The main market players are

  • NXP Semiconductors

  • Toshiba

  • Renesas Electronics

  • Texas Instruments

  • fuji electric

  • Infineon Technologies

  • Vishay Intertechnology

  • mitsubishi electric

  • in semiconductors

  • ST Microelectronics.

Based on the research, Verified Market Research has segmented the global Power Electronics market into Device, Material, Vertical, and Geography.

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Visualize the Power Electronics Market using verified market intelligence:

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