Power Electronics Market Research Report - Forecast till 2030

Power Electronics Market Research Report Information By Type (Gallium, Nitride, Sic, Silicon, And Others), By Component (Thyristor, Gate Turn-Off Transistor, MCT,Silicon Controlled Rectifier, AC/AD Converter, Static Switches, MOSFET And Others), By Size (450mm, 200mm, 300mm, 150mm, more than that), By Application (Defense and Aerospace, Telecommunication and IT, Utilities and Energy And Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

ID: MRFR/SEM/0563-CR | | Region: Global | 174 Pages         

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Global Power Electronics Market Overview:


Power Electronics Market Size was valued at USD 28.7 billion in 2021. The Power Electronics market industry is projected to grow from USD 30.1 Billion in 2022 to USD 42.08 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.90% during the forecast period (2022 - 2030). Rising demand for higher power density and the automotive industry are the key market drivers enhancing the market growth.
Global Power Electronics Market Overview
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Power Electronics Market Trends




  • Growing Prevalence of higher power density to boost market growth




Energy is operating as a driving element for power electronic industries, and the rise in portable energy usage helps minimise power consumption. Its utilisation is evolving to include greater battery life and higher mileage rates. The market's sales rate is increasing due to the use of power electronics for defence applications such unmanned aerial vehicles, flight control, and military radars.


The military and aerospace industries are seeing an increase in the use of electronic devices, which opens up numerous market prospects. It enhances the monitoring and intelligence gathering process. The power electronics also address issues with size, weight, cost, and power stability. These elements support the power electronics in the coming years.


October 25, 2022, Hella stated that it is entering the high-voltage power electronics market Using a German premium manufacturer of high-voltage voltage converters,. The German carmaker will use HELLA to equip ten different vehicle types, and production is expected to begin in the middle of 2025.


Power Electronics Market Segment Insights:


Power Electronics Type Insights


The Power Electronics Market segmentation, based on type, includes gallium, nitride, sic, silicon, and others. The silicon power electronics segment held the majority share in 2021 and is projected to grow the Power Electronics Market revenue. This is primarily owing to the high compatibility of silicon with different substrate material, low production cost, and easy availability. across the globe. The sic is the fastest growing segment in the coming years due to fast charging and it is used in battery-powered electric vehicles.


October 2022: To fulfil the rising demand for power electronics over the next five years, chipmakers Wolfspeed, STMicroelectronics, SK Siltron, and Onsemi declared they were stepping up their efforts to support the SiC supply chain. SiC chips have been in high demand, primarily because more fast-charging, battery-powered electric vehicles are using them.


Power Electronics Components Insights


The Power Electronics Market segmentation, based on components, includes thyristor, gate turn-off transistor, MCT, silicon controlled rectifier, AC/DC converter, static switches, MOSFET, and others. The thyristor segment dominated the market in 2021 and is projected to be the largest growing segment during the forecast period, 2022-2030. The MOSFET is the fastest-growing segment due to low power consumption and lower noise production.


Power Electronics size Insights


The Power Electronics Market data has been bifurcated by 450mm, 200mm, 300mm, and 150mm more than that. The 300mm segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030.


September 2021: By opening its high-tech chip production for power electronics on 300-millimeter thin wafers at its Villach facility in Austria, Infineon Technologies increased its geographic reach. The corporation would be able to better service its users worldwide thanks to this factory.


March 2021: At Kaga Toshiba Electronics Corporation in Japan, Toshiba Electronic Devices & Storage Corporation increased its regional reach by building a facility for the manufacturing of 300-millimeter wafers. By increasing production capability, this facility would support the company's power device division and continue to advance energy-saving technologies.


Power Electronics Application Insights


Based on End Users, the global Power Electronics industry has been segmented into defense and aerospace, telecommunication and IT, and utilities and energy. Defense and aerospace held the largest segment share in 2021, owing to the rapid adoption of advanced Power Electronics products. Moreover, The aerospace and defence industry is observing the constant fight to increase command, communications, intelligence, and surveillance capabilities while reducing size, weight, power, and cost. Aerospace and Defense (A&D) firms are being forced as a result to invest in systems with ever-increasing power densities and capabilities.


Figure 3: Power Electronics Market SHARE BY End Users 2021 (%)
Power Electronics Market SHARE BY End Users 2021
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Power Electronics Regional Insights


By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific Power Electronics market accounted for USD 12.22 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing demand for electronic devices across the region and the India Power Electronics market was the fastest growing market in the Asia-Pacific region.


Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3: Power Electronics Market SHARE BY REGION 2021 (%)
Power Electronics Market SHARE BY REGION 2021
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe Power Electronics market accounts for the second-largest market share due to the availability of renewable energy resources. Further, the Germany Power Electronics market held the largest market share, and the UK Power Electronics market was the fastest growing market in the European region


The North-America Power Electronics Market is expected to grow at the fastest CAGR from 2022 to 2030. Moreover, China Power Electronics market held the largest market share.


For instance, India Power Electronics market is the Indian government is concentrating on improving the policies for the expansion of the electronics sector in India during the anticipated timeframe. The funding for renewable energy was also increased by the Chinese government, reaching USD 13 billion. All of the aforementioned variables will increase demand for products like converters, wind turbines, PV modules, generators, battery systems, etc. in the power electronics market.


Power Electronics Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the Power Electronics market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the power electronics industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


One of the primary business strategies adopted by manufacturers in the global power electronics industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, power electronics industry has provided medicine with some of the most significant benefits. The power electronics market major player such as 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., STMicrolectronics, Texas Instruments, Toshiba Electronics Devices & Storage Corporation, Vishay Intertechnology Inc., Allegro Semiconductors, and others are working to expand the market demand by investing in research and development activities.


Lucid, a high-end electric vehicle manufacturer with its headquarters in California, declared in March 2022 that the Lucid Air uses its SiCMOSFET. A bidirectional on-board charger (OBC) and a DC-DC converter are integrated into the vehicle's main on-board charging unit, called the Wunderbox. Thanks to the better performance of the SiC MOSFET, the enhanced power factor correction circuit in this OBC can operate at high switching frequencies. The SCT3040K and SCT3080K SiC MOSFETs from ROHM offer increased performance at high frequency and high temperature, which has allowed Lucid to reduce the size of the design while simultaneously lowering power losses, resulting in excellent charging efficiency.


Also,The development of a new generation of low-voltage (LV) MOSFETs with lower Rss(on) for battery protection circuit modules (PCMs) in smartphones was announced by Magnachip Semiconductor Corporation in January 2022. Extended battery life and improved battery safety features are vital as the market for premium 5G and long term evolution (LTE) handsets grows. The processing of a huge volume of data for quick download and upload requires long-lasting batteries with high endurance, which are especially necessary for 5G phones. The latest generation of LV MOSFETs, according to the manufacturer, include enhanced overvoltage and overcurrent protection features that help prolong battery life and lessen overheating problems.


Key Companies in the Power Electronics market includes




  • 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.




  • STMicrolectronics




  • Texas Instruments




  • Toshiba Electronics Devices & Storage Corporation




  • Vishay Intertechnology Inc.




  • Allegro Semiconductors




Power Electronics Industry Developments


April 2022, In terms of the future, researchers at the National Renewable Energy Laboratory (NREL) are implementing cutting-edge power electronics technologies to transform clean energy mobility, which goes beyond light-duty electric vehicles (EVs). It can regulate the flow of electricity to power powerful and sophisticated electric equipment. The devices are utilised in heavy-duty vehicles, railroads, and aircraft. NREL is concentrating on new research initiatives in grid storage, sustainable aviation, and energy-efficient computing with the help of the Advanced Research Projects Agency-Energy (ARPA-E) programmes of the U.S. Department of Energy.


Power Electronics Market Segmentation:


Power Electronics Type Outlook




  • Gallium




  • Nitride




  • Sic




  • Silicon




  • Others




Power Electronics Components Outlook




  • Thyristor




  • Gate Turn-off Transistor




  • MCT




  • Silicon Controlled Rectifier




  • AC/DC Converter




  • Static Switches




  • MOSFET




  • Others




Power Electronics Size Outlook




  • 450mm




  • 200mm




  • 300mm




  • 150mm




  • More than that




Power Electronics Application Outlook




  • Defence and Aerospace




  • Telecommunication and IT




  • Utilities and Energy




Power Electronics Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • France




    • UK




    • Italy




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America







Report Scope:

Report Attribute/Metric Details
Market Size 2021 USD 28.7 billion
Market Size 2022 USD 30.10 billion
Market Size 2030 USD 42.08 billion
Compound Annual Growth Rate (CAGR) 4.90% (2022-2030)
Base Year 2021
Market Forecast Period 2022-2030
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Components, Size, Applications, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled 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., STMicrolectronics, Texas Instruments, Toshiba Electronics Devices & Storage Corporation, Vishay Intertechnology Inc., Allegro Semiconductors,
Key Market Opportunities Emergence of renewable energy
Key Market Dynamics Rising prevalence of high power Rising automotive industry


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Frequently Asked Questions (FAQ) :

The Power Electronics Market size was valued at USD 28.7 Billion in 2021.

The global market is projected to grow at a CAGR of 4.9% during the forecast period, 2022-2030.

Asia-Pacific had the largest share in the global market

The key players in the market are as 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., STMicrolectronics, Texas Instruments, Toshiba Electronics Devices & Storage Corporation, Vishay Intertechnology Inc., Allegro Semiconductors. Who are the key players in the Power Electronics market?

The silicon electronics category dominated the market in 2021.

The defense and aerospacehad the largest share in the global market.