The global power electronics market is projected to reach $19,972.0 million by 2022, growing at a CAGR of 6.2% during 2016 – 2022. The study reveals that the global power electronics market is likely to grow from $12.9 billion in 2015 to $20.0 billion by 2022.
As per the research findings, among the various devices, power discrete has been the largest market. The power modules segment is expected to witness fastest growth in demand during the forecast period.
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Power density is a prime factor in the PE industry, particularly in high-power applications. For instance, PE devices in electric rail traction drives, wind power generators, inverter systems, and solar power generators use PE devices to increase their operational efficiency.
The overall intensity of rivalry in the power electronics market is high. The intensity of rivalry is high due to existence of a large number of players in the market. The medium industry growth rate creates a moderate degree of rivalry in the power electronics market.
Geographically, Asia-Pacific has been the largest revenue contributor to the global power electronicsmarket. China has been the largest market in Asia-Pacific, while the U.S. led the North American market. Germany has been the major European market, whereas U.A.E. stood as the largest market in Rest of the World.
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According to the findings, Infineon Technologies, STMicroelectronics and ON Semiconductor have been the major players to introduce new power electronic products in the recent years. The other major developments in the market include merger and acquisition, and partnerships and collaborations.
GLOBAL POWER ELECTRONICS MARKET SEGMENTATION
By end-user
- Consumer Electronics
- Automotive
- Industrial
- Power & Energy
- ICT
- Aerospace & Defense
- Others
- Low Voltage (400V – 1.1kV)
- Medium Voltage (1.2KV – 1.9KV)
- High Voltage (2KV – 3.3KV)
- Very High Voltage (> 3.3KV)
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