Description :
The global ‘ power electronics market ‘ is anticipated to register a CAGR of 8.9 % from 2016- 2022 to attain a market size of around $ 25 billion by 2022 .
Power electronics is a circuitry device that transfers power from a source to a load in an efficient , compact , and robust manner to ensure convenient utilization . This device is used to control the conversion of electric power from one form to another using diodes , transistors , and thyristors . Operations at high voltage or high current can be efficiently executed by utilizing power electronics devices , as they deliver faster switching rate at higher efficiency . In addition , power electronics control both unidirectional as well as bidirectional flow of energy , depending upon the usage , and the regenerated energy can be sent back to the utility .
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Power electronics has gained popularity among various applications , such as energy control systems , high voltage direct current ( HVDC ), motor drives , industry systems , inverters , and consumer electronics , owing to its high efficiency , low power consumption , and improved durability . Moreover , it supports high input impedance and improved parallel current sharing , which increases its adoption in the industry . However , performance issues associated with the use of power electronics , such as current leakage and breakdown , hamper the market growth . Government initiatives to establish HVDC and smart grid and increase in demand for IGBT and MOSFET are expected to provide lucrative opportunities for growth in the future .
The global power electronics market is segmented based on device , type , application , and geography . The device segment is divided into power diodes , metal-oxide-semiconductor field-effect transistor ( MOSFET ), bipolar-junction transistor ( BJT ), insulated-gate bipolar transistor ( IGBT ), and thyristor . Based on type , the market is classified into power IC , power modules , and power discrete . Based on application , the market is segmented into consumer electronics , energy & power , industrial system , inverter & UPS , automotive , others . The market is analyzed on the basis of four regions , namely North America ( U . S ., Mexico , and Canada ), Europe ( UK , Germany , France , and rest of Europe ), Asia-Pacific ( China , India , Japan , South Korea , and rest of Asia-Pacific ), and LAMEA ( Latin America , Middle East , and Africa ).
The key companies profiled in the report include Infineon Technologies AG , Mitsubishi Electric Corp ., Toshiba Corporation , ABB Group , STMicroelectronics , Fuji Electric Co . Ltd ., Rockwell Automation , Inc ., Renesas Electronics Corporation , Microsemi Corporation , and Texas Instruments , Inc .
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Potential Benefits For Stakeholders Comprehensive analysis of the current trends and future estimations of the global power
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