Power Electronics Market Will Reach USD 29.72 billion by 2024
Global Global Power Electronics Market Trends, Estimation and Forecast | 2024
(EMAILWIRE.COM, February 06, 2018 ) The Global Power Electronics Market was valued at $14.89 billion in 2016, and is projected to reach $29.72 billion by 2024, having a CAGR of 9.1% during the forecast period of 2017 to 2024.
Browse details of 154 pages research report on Global Power Electronics Market @ https://www.researchcosmos.com/reports/global-global-power-electronics-market-trends-estimation-and-forecast-2024/1780476573
Power electronic devices can control and regulate the flow of electrical energy. Power electronics devices are capable of handling AC as well as DC power. High efficiency owing to low power loss, longer life, low maintenance cost, and fast operations are key advantages of the power electronics devices. Wide range of application within electric vehicles and in renewable energy has brought the need for power electronic devices around the world.
Market Determinants
Growing acceptance of power electronics in electric vehicle is prime factor fueling the global power electronics market. For instance, the total sales of electric vehicles within U.S. was 331,749 by Q2 of 2015. Further, extensive need for power management devices and enhanced efficiency of power handling devices are projected to drive the growth of the market. Current leakage at high temperature and complexity issues involved in manufacturing of power electronics devices might restrict the market. Government initiatives in high voltage DC & smart grid would create lucrative opportunities for the market. According to the U.S. Department of Energy, since 2010, large public and private investments totaling over $9 billion has been made within smart grid deployment.
Segment Analysis
Global power electronics market is segmented by device, by type, by application, and by region. By device it is further segmented as Power Diodes, MOSFET, BJT, IGBT, and Thyristor. By type global power electronics market is categorized as Power IC, Power Modules, and Power Discrete. By application it is further divided into Application, Consumer Electronics, Energy & Power, Industrial System, Inverter & UPS, Automotive, and Others.
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Geographically, global power electronics market is segmented as North America, Europe, Asia-Pacific, and Rest of the world. Asia-Pacific is one of the prominent market for power electronics and expected to grow further in coming years. According to Semiconductor Industry Association, The Asia Pacific semiconductor market has quadrupled in size since 2001 - from $39.8 billion to over $194 billion in 2014.
Growing applications within electric vehicles and rapidly evolving electric vehicle market are key factors responsible for enormous growth of automotive segment. Automotive sector is expected to grow at a CAGR of 10.7% from 2017 to 2024.
Market leaders within power electronics industry are leveraging advantages of growing applications various sectors. Automotive application is one of the prime and growing application of power electronics devices. New product innovation and technological advancement are key strategies adopted by market players to establish strong foothold within market. Major players of the global power electronics market are ABB Group, Fuji Electric Co, Ltd., Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corp., Renesas Electronics Corporation, Rockwell Automation Inc., Stmicroelectronics N.V., Texas Instruments Inc., and Toshiba Corporation.
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GLOBAL POWER ELECTRONICS MARKET SEGMENTATION
By Device
Power Diodes
MOSFET
BJT
IGBT
Thyristor
By Type
Power IC
Power Modules
Power Discrete
By Application
Consumer Electronics
Energy & Power
Industrial System
Inverter & UPS
Automotive
Others (Medical Devices & Traction)
By Geography
North America
Europe
APAC
Rest of the World
Key Market Players
ABB Group
Fuji Electric Co, Ltd.
Infineon Technologies AG
Microsemi Corporation
Mitsubishi Electric Corp.
Renesas Electronics Corporation
Rockwell Automation Inc.
Stmicroelectronics N.V.
Texas Instruments Inc.
Toshiba Corporation
Buy this report @ https://www.researchcosmos.com/buynow/1780476573
About Research Cosmos:
Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on gamut of sectors across the globe. Were associated with world renowned publishers who when combined, serve hundreds of fortune listed companies and publish wide range of insightful reports which cover nook and corner of every industry vertical.
Contact Us:
Kevin Stewart
Sales Manager
Research Cosmos
www.researchcosmos.com
kevin@researchcosmos.com
# +1 888 709 8757
Browse details of 154 pages research report on Global Power Electronics Market @ https://www.researchcosmos.com/reports/global-global-power-electronics-market-trends-estimation-and-forecast-2024/1780476573
Power electronic devices can control and regulate the flow of electrical energy. Power electronics devices are capable of handling AC as well as DC power. High efficiency owing to low power loss, longer life, low maintenance cost, and fast operations are key advantages of the power electronics devices. Wide range of application within electric vehicles and in renewable energy has brought the need for power electronic devices around the world.
Market Determinants
Growing acceptance of power electronics in electric vehicle is prime factor fueling the global power electronics market. For instance, the total sales of electric vehicles within U.S. was 331,749 by Q2 of 2015. Further, extensive need for power management devices and enhanced efficiency of power handling devices are projected to drive the growth of the market. Current leakage at high temperature and complexity issues involved in manufacturing of power electronics devices might restrict the market. Government initiatives in high voltage DC & smart grid would create lucrative opportunities for the market. According to the U.S. Department of Energy, since 2010, large public and private investments totaling over $9 billion has been made within smart grid deployment.
Segment Analysis
Global power electronics market is segmented by device, by type, by application, and by region. By device it is further segmented as Power Diodes, MOSFET, BJT, IGBT, and Thyristor. By type global power electronics market is categorized as Power IC, Power Modules, and Power Discrete. By application it is further divided into Application, Consumer Electronics, Energy & Power, Industrial System, Inverter & UPS, Automotive, and Others.
Avail Sample Market Brochure of the report for more information to evaluate report usefulness, Get a Copy @ https://www.researchcosmos.com/request/1780476573
Geographically, global power electronics market is segmented as North America, Europe, Asia-Pacific, and Rest of the world. Asia-Pacific is one of the prominent market for power electronics and expected to grow further in coming years. According to Semiconductor Industry Association, The Asia Pacific semiconductor market has quadrupled in size since 2001 - from $39.8 billion to over $194 billion in 2014.
Growing applications within electric vehicles and rapidly evolving electric vehicle market are key factors responsible for enormous growth of automotive segment. Automotive sector is expected to grow at a CAGR of 10.7% from 2017 to 2024.
Market leaders within power electronics industry are leveraging advantages of growing applications various sectors. Automotive application is one of the prime and growing application of power electronics devices. New product innovation and technological advancement are key strategies adopted by market players to establish strong foothold within market. Major players of the global power electronics market are ABB Group, Fuji Electric Co, Ltd., Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corp., Renesas Electronics Corporation, Rockwell Automation Inc., Stmicroelectronics N.V., Texas Instruments Inc., and Toshiba Corporation.
Got some questions, Inquire @ https://www.researchcosmos.com/inquire/1780476573
GLOBAL POWER ELECTRONICS MARKET SEGMENTATION
By Device
Power Diodes
MOSFET
BJT
IGBT
Thyristor
By Type
Power IC
Power Modules
Power Discrete
By Application
Consumer Electronics
Energy & Power
Industrial System
Inverter & UPS
Automotive
Others (Medical Devices & Traction)
By Geography
North America
Europe
APAC
Rest of the World
Key Market Players
ABB Group
Fuji Electric Co, Ltd.
Infineon Technologies AG
Microsemi Corporation
Mitsubishi Electric Corp.
Renesas Electronics Corporation
Rockwell Automation Inc.
Stmicroelectronics N.V.
Texas Instruments Inc.
Toshiba Corporation
Buy this report @ https://www.researchcosmos.com/buynow/1780476573
About Research Cosmos:
Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on gamut of sectors across the globe. Were associated with world renowned publishers who when combined, serve hundreds of fortune listed companies and publish wide range of insightful reports which cover nook and corner of every industry vertical.
Contact Us:
Kevin Stewart
Sales Manager
Research Cosmos
www.researchcosmos.com
kevin@researchcosmos.com
# +1 888 709 8757
Contact Information:
Research Cosmos
Kevin
Tel: +1 888 709 8757
Email us
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Research Cosmos
Kevin
Tel: +1 888 709 8757
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results