Power Electronics Market Research Report - Forecast till 2027

Power Electronics Market Research Report: By Component (Diodes, Thyristor (Silicon Controlled Rectifier (SCR), MCT (MOS-Controlled Thyristor), Gate Turn-Off Transistor (GTO)), MOSFET, AC/DC Converter, Static Switches, Others), Wafer Type (Silicon, Gallium Nitride (GaN), SiC, Others), Wafer Material (P-Type, N-Type), Wafer Size (300mm, 150mm, 200mm, 450mm and Above), Application (Consumer Electronics, Automotive, IT & Telecommunications, Aerospace & Defense, Industrial, Transportation, Energy & Utilities, Others) - Forecast till 2027

ID: MRFR/SEM/0563-CR | November 2020 | Region: Global | 174 pages

Power Electronics Market Overview

According to MRFR analysis, the Power Electronics Market is projected to register a CAGR of 6.64%. It is estimated that the Power Electronics Market value will further rise to USD 59.40 Billion during the forecast period 2020-2026. Hence, the power device market will thrive exponentially in the upcoming period. Power Electronics are heavily used in hybrid and commercial vehicles. This helps to optimize the costs and helps us to save the power and related costs. It also increases the mileage, power density and enhances the performance of the battery.

Hence, due to economic and environmentally friendly reasons, the Power Electronics Market will experience significant growth. These power devices are fitted in various applications such as engine systems, flight control, cabin lighting, defensive aid systems, and many more. Due to its various facilities, the market will attract potential customers that will benefit the market players and stakeholders.

COVID-19 Analysis

Due to the emergence of COVID-19 disease, several automotive and assembly plants remained shut. It began from China and simultaneously, the shutdown among various economies across the world. It caused a recession and halted the demand and manufacturing of the components. However, in the upcoming years, when the pandemic situation gets solved, the power devices industry will regain its growth.

Market Dynamics

Market Drivers

The major driver for the increasing Power Electronics Market Growth is the growing demand for renewable energy. Also, the rising trend of using portable energy that helps to reduce power consumption, energy, and increase mileage and battery life among electronic vehicles. Also, the rising use of power in electronics for defense purposes such as flight control, unmanned aerial vehicle, military radars are driving the Power Electronics Market exponentially.


One of the main factors that will hinder the Power Electronics Market growth is the complicated process of integration for electronic devices. This will help to improve the market product durability. But, for complex integration, it is very important to have advanced technology. This factor will increase the overall costs and will slow the growth of the power electronics industry.


The growing trends of using electronic devices in the defense and aerospace sector will open new opportunities for the Power Electronics Market. It will help to improve the intelligence and surveillance process. Along with that, it will further solve the problem of power stability, weight, costs, size, etc. simultaneously. Hence, the market will escalate at a significant rate during the forecast period.


However, the major concerns regarding grid capacity for the integration of power devices can be challenging for the Power Electronics Market. Also, the increased production costs will hinder the overall growth in the forthcoming years.

Cumulative Analysis

It is estimated that the Power Electronics Market Size will have positive growth. The estimated Compound Annual Growth Rate (CAGR) of the market is 11%. As per MRFR analysis, the market value will further reach up to USD 65 Billion during the forecast period 2020-2026. Various drivers and opportunities will lead the market to a new level.

Value Chain Analysis

With the increase in the demand for electronic vehicles, the value of the power devices will rise simultaneously. Along with that, its positive factors such as portable devices, use of renewable energy will further influence the market to use sustainable solutions. Hence, the demand for eco-friendly solutions will promote overall market growth.

Market Segmentations

The Power electronics market is segmented into wafer materials, application, wafer size, component, and wafer type. On the basis of wafer size, the power device industry is further divided into

On the basis of wafer materials, the Power Electronics Market market is again classified into N-Type and P-Type.

Based upon components, the power electronics industry is bifurcated into Thyristor, Static Switches, Diodes, MOSFET, AC/DC Converter, and others. The Thyristor is further divided into Gate Turn-Off Transistor (GTO), MCT (MOS-Controlled Thyristor), and Silicon Controlled Rectifier (SCR).

Based upon application, the power electronics industry is divided into Defense and Aerospace, Telecommunications and IT, Utilities and Energy, Automotive, Transportation, Industrial, Consumer Electronics, and others.

Based upon wafer type, the power electronics industry is sub-segmented into Gallium Nitride, SiC, Silicon, and others.

Regional Analysis

On the basis of geography, the Power Electronics Market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. According to the MRFR analysis, it is evaluated that the Asia-Pacific region will hold the largest Power Electronics Market Share in the forecast period. It is estimated that this region will have record an estimated CAGR of 10%. It is mainly due to the growing demand of electronics devices. The market will record huge revenue with the increased use of renewable energy. There are several positive government policies towards promoting renewable options such as solar panels, windmills, etc.

Also, the adoption of electronic vehicles due to the growing awareness about the environment to reduce carbon emissions is escalating the market. Countries like Japan, China, India, Korea, etc. are moving forward to improve to use renewable energy extensively. These countries are focusing to increase the sales of electric vehicles by 25% by the year 2030.

However, the region is also having a significant development of data centers. For example, the Government of India is focusing upon enhancing the policies for the development of the electronics market in India in the forecast period. Also, the Chinese government announced an increase in the renewable power budget up to USD 13 billion. All the above factors will further escalate the Power Electronics Market demand for products such as converters, wind turbines, PV modules, generators, battery systems, etc.

Competitive Landscape

There are several key players in the global power electronic devices and applications industry. These power electronics companies use different strategies such as acquisitions, market analysis, partnerships, collaborations, new ventures, product launches, and many more. The list of the major power electronics companies is listed below-

  • AMS AG

  • Alpha and Omega Semiconductor (AOS)

  • Toshiba Electronic Devices and Storage Corporation

  • Dialog Semiconductor

  • Renesas Electronics Corporation

  • Texas Instruments

  • Microchip Technology Inc.

  • Infineon Technologies AG

  • Diodes Incorporated

  • STMicroelectronics

  • Maxim Integrated

  • Vishay Intertechnology Inc.

  • Analog Devices Inc.

  • Semiconductor Component Industries LLC

Recent Developments

  • AMS Ag announced the launch of Integrated Circuit for X-ray through the digital process. This will be done through flat-panel detectors. It can be further for various medical analyses such as mammography, fluoroscopy, digital radiography, etc.

  • Dialog Semiconductor announced a partnership with another company called Flex Logix Technologies. This partnership is aimed to develop gate arrays with mixed –signals.

  • AOS announced the launch of RigidCSP in 2020. This innovation is aimed to enhance the batter management applications in tablets, smartphones, etc. It will help to reduce the on-resistance and breakage during the process of assembly.

Report Overview

The overview of the Power Electronics Market Report is as follows-

  • Market Overview

  • COVID-19 Analysis

  • Dynamics of the Market

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Analysis

  • Recent Development

Report Score and Segmentation

  • Study Period- 2020-2026

  • Base Year-2020

  • Forecast Period- 2020-2026

  • Historical Period-2019-2020

The report score is to provide information about the impact of electronics in the industry. It highlights the strengths and potential of the market in the upcoming years. The report also covers information about restraints, challenges. Apart from that, it provides substantial information about the key players and their recent developments. The information provided in this report is collected from both primary and secondary sources.


Wafer Type

  • Gallium Nitride

  • SiC

  • Silicon

  • Others


  • Thyristor

  • Gate Turn-Off Transistor (GTO)

  • MCT (MOS-Controlled Thyristor)

  • Silicon Controlled rectifier (SCR)

  • AC/DC Converter

  • Static Switches


  • Others

Wafer Size

  • 450mm

  • 200mm

  • 300mm

  • 150mm

  • More than that


  • Defense and Aerospace

  • Telecommunications and IT

  • Utilities and Energy

  • Automotive

  • Transportation

  • Industrial

  • Consumer Electronics

  • Others

Wafer Material

  • N-Type

  • P-Type


  • North America

  • Europe

  • Asia-Pacific

  • Rest of the World

Report Scope:
Report Attribute/Metric Details
  Market Size   USD 59.40 Billion
  CAGR   6.64%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Component, Wafer Type, Wafer Material, Wafer Size, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Alpha & Omega Semiconductor (AOS) Europe, AMS AG, Analog Devices Inc, Dialog Semiconductor, Diodes Incorporated, Semiconductor Component Industries LLC, Infineon Technologies AG, Renesas Electronics Corporation, Maxim Integrated, Microchip Technology Inc., STMicroelectronics, Texas Instruments, Toshiba Electronic Devices & Storage Corporation, Vishay Intertechnology Inc., and Allegro Semiconductors
  Key Market Opportunities   Power electronics devices are used in electric and hybrid vehicles to optimize overall system cost, increase power savings, extend mileage, mitigate power losses, increase power density, and improve battery performance.
  Key Market Drivers

  • High demand for higher power density.
  • Automotive industry to push market growth.

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    Frequently Asked Questions (FAQ) :

    The global power electronics market is expected to record a substantial market valuation of up to USD 43 billion by 2023.

    The global power electronics market is projected to register a moderate 3% CAGR in the forecast period.

    The increasing deployment of smart grid applications and focus on renewable power resources are expected to drive the power electronics market during the forecast period.

    The silicon material segment is slated to expand as the fastest-growing segment.

    The major market players operating in the global power electronics market are Qualcomm, Inc. (U.S), Renesas Electronics Corp. (Japan), Vishay Intertechnology, Inc. (U.S.), and Mitsubishi Electric Corp. (Japan) among others.