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Global Power Electronics Market to reach USD 47.42 billion by the end of 2030

Global Power Electronics Market Size study & Forecast, by Device Type (Power Discrete, Power Module, Power IC), by Material (Silicon Carbide, Gallium Nitride, Sapphire, Others), by Application (Power Management, UPS, Renewable, Others), by End Use (Telecommunication, Industrial, Automotive, Consumer Electronics, Others) and Regional Analysis, 2023-2030

Product Code: EESC-51597826
Publish Date: 15-11-2023
Page: 200

Global Power Electronics Market is valued at approximately USD 30.9 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2023-2030. Power electronics is a specialized field of electrical engineering that focuses on the conversion and control of electrical power. It deals with the design, development, and application of electronic devices and circuits for efficiently converting electrical energy from one form to another. This conversion process is essential in various applications, such as renewable energy systems, electric vehicles, industrial automation, and consumer electronics. Power electronics have a profound impact on improving energy efficiency, reducing environmental impact, and enhancing the performance of numerous electrical systems and devices across various industries. The Power Electronics Market is expanding because of factors such as expansion of renewable energy sources, increasing demand for energy efficiency and rising adoption of industrial robots.

Industrial robots rely heavily on electric motors for their movement and operation. Power electronics are essential for controlling these motors efficiently. Power electronic devices such as inverters and motor drives are used to regulate the speed, torque, and direction of robot motors. As the number of industrial robots deployed in manufacturing and other industries increases, demand for power electronics also rises. According to the International Federation of Robotics, in June 2022, the global shipment of industrial robots reached approximately 486,800 units, marking a significant 27% increase compared to the previous year in 2021. Additionally, the report reveals that the installation of industrial robots showed substantial growth, with installations rising from 3,919,000 units in 2019 to 5,170,000 units in 2021. Thus, the rising adoption of industrial robots is driving market growth. In addition, the electrification of the transportation industry and the development of smart grids are creating new opportunities for market growth. However, the complex integration process of advanced electronics devices stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Power Electronics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 owing to factors such as rising adoption of electric vehicles, increasing emphasis on energy efficiency, growing adoption of automation and robotics, and supportive government policies promoting clean energy technologies in the region. Whereas, Asia Pacific is projected to register fastest growth owing to factors such as increased demand for electrical power across various sectors, including automotive, industrial, consumer electronics, and renewable energy, the expansion of the EV and renewable energy sectors, industrial automation, and the region’s manufacturing facilities is supporting the market growth.

Major market player included in this report are:
ON Semiconductor Corporation
ABB Ltd.
Infineon Technologies AG
Texas instruments Inc.
ROHM Co. Ltd
STMicroelectronics NV
Renesas electronic corporation
Vishay Intertechnologies Inc.
Toshiba Corporation
Mitsubishi Electric Corporation

Recent Developments in the Market:
Ø In May 2023, Infineon Technologies AG has unveiled the OptiMOS 7 40V MOSFET family, showcasing their latest advancement in power MOSFETs tailored for automotive applications. This MOSFET series offers a variety of lead-free and robust power packages, harnessing state-of-the-art 300 mm thin-wafer technology and inventive packaging methods to deliver significant improvements in performance, all while maintaining a compact design. Consequently, these MOSFETs prove ideal for an extensive range of current and future automotive uses that call for 40V MOSFETs, including electric power steering, braking systems, disconnect switches, and the evolving requirements of emerging zone architectures in the automotive sector
Ø In May 2023, Toshiba Electronics Europe introduced a state-of-the-art 150V N-channel power MOSFET, constructed using their advanced U-MOS X-H Trench process technology. The TPH9R00CQ5 MOSFET is custom-designed for high-performance switching power supplies, with a primary focus on applications such as communication base stations and a range of industrial uses. .

Global Power Electronics Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Device Type, Material, Application, End use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Device Type:
Power Discrete
Power Module
Power IC

By Material:
Silicon Carbide
Gallium Nitride

By Application:
Power Management

By End Use:
Consumer Electronics
Military and Defense
Energy and Power

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Power Electronics Market, by Region, 2020-2030 (USD Billion)
1.2.2. Power Electronics Market, by Device Type, 2020-2030 (USD Billion)
1.2.3. Power Electronics Market, by Material, 2020-2030 (USD Billion)
1.2.4. Power Electronics Market, by Application, 2020-2030 (USD Billion)
1.2.5. Power Electronics Market, by End Use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Power Electronics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Power Electronics Market Dynamics
3.1. Power Electronics Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Expansion of renewable energy sources Increasing demand for energy efficiency Rising adoption of industrial robots
3.1.2. Market Challenges Complex integration process of advanced electronics devices
3.1.3. Market Opportunities Electrification of transportation industry Development of smart grids
Chapter 4. Global Power Electronics Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Power Electronics Market, by Device Type
5.1. Market Snapshot
5.2. Global Power Electronics Market by Device Type, Performance – Potential Analysis
5.3. Global Power Electronics Market Estimates & Forecasts by Device Type 2020-2030 (USD Billion)
5.4. Power Electronics Market, Sub Segment Analysis
5.4.1. Power Discrete
5.4.2. Power Module
5.4.3. Power IC
Chapter 6. Global Power Electronics Market, by Material
6.1. Market Snapshot
6.2. Global Power Electronics Market by Material, Performance – Potential Analysis
6.3. Global Power Electronics Market Estimates & Forecasts by Material 2020-2030 (USD Billion)
6.4. Power Electronics Market, Sub Segment Analysis
6.4.1. Silicon Carbide
6.4.2. Gallium Nitride
6.4.3. Sapphire
6.4.4. Others
Chapter 7. Global Power Electronics Market, by Application
7.1. Market Snapshot
7.2. Global Power Electronics Market by Application, Performance – Potential Analysis
7.3. Global Power Electronics Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Power Electronics Market, Sub Segment Analysis
7.4.1. Power Management
7.4.2. UPS
7.4.3. Renewable
7.4.4. Others
Chapter 8. Global Power Electronics Market, by End Use
8.1. Market Snapshot
8.2. Global Power Electronics Market by End Use, Performance – Potential Analysis
8.3. Global Power Electronics Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
8.4. Power Electronics Market, Sub Segment Analysis
8.4.1. Telecommunication
8.4.2. Industrial
8.4.3. Automotive
8.4.4. Consumer Electronics
8.4.5. Military and Defense
8.4.6. Energy and Power
8.4.7. Others
Chapter 9. Global Power Electronics Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Power Electronics Market, Regional Market Snapshot
9.4. North America Power Electronics Market
9.4.1. U.S. Power Electronics Market Device Type breakdown estimates & forecasts, 2020-2030 Material breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 End Use breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Power Electronics Market
9.5. Europe Power Electronics Market Snapshot
9.5.1. U.K. Power Electronics Market
9.5.2. Germany Power Electronics Market
9.5.3. France Power Electronics Market
9.5.4. Spain Power Electronics Market
9.5.5. Italy Power Electronics Market
9.5.6. Rest of Europe Power Electronics Market
9.6. Asia-Pacific Power Electronics Market Snapshot
9.6.1. China Power Electronics Market
9.6.2. India Power Electronics Market
9.6.3. Japan Power Electronics Market
9.6.4. Australia Power Electronics Market
9.6.5. South Korea Power Electronics Market
9.6.6. Rest of Asia Pacific Power Electronics Market
9.7. Latin America Power Electronics Market Snapshot
9.7.1. Brazil Power Electronics Market
9.7.2. Mexico Power Electronics Market
9.8. Middle East & Africa Power Electronics Market
9.8.1. Saudi Arabia Power Electronics Market
9.8.2. South Africa Power Electronics Market
9.8.3. Rest of Middle East & Africa Power Electronics Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. ON Semiconductor Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.3.2. ABB Ltd.
10.3.3. Infineon Technologies AG
10.3.4. Texas instruments Inc.
10.3.5. ROHM Co. Ltd
10.3.6. STMicroelectronics NV
10.3.7. Renesas electronic corporation
10.3.8. Vishay Intertechnologies Inc.
10.3.9. Toshiba Corporation
10.3.10. Mitsubishi Electric Corporation
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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