Power Electronics Market by Device Type, Material, Voltage, Current Level, Wafer Size, Application

List of Tables

[186 Pages Report] The Power Electronics Market size was estimated at USD 47.87 billion in 2023 and expected to reach USD 50.08 billion in 2024, at a CAGR 5.67% to reach USD 70.46 billion by 2030.

Power electronics is a component of electrical engineering that deals with converting, controlling, and managing electrical power. It involves studying and applying electronic devices and systems for the control and transformation of electric power. Power electronics are crucial in various applications, including power conversion, motor drives, renewable energy systems, and electric vehicles. The growth of the power electronics market is influenced by multiple factors, including the global push for energy efficiency and carbon footprint reduction, advancements in technology leading to higher power density, and the robust growth of electric vehicles and renewable energy systems. Increased investments in smart grids and the need for high-efficiency power solutions in consumer electronics are also key drivers. Moreover, government initiatives and policies favoring energy-saving technologies provide a conducive environment for the market's expansion. Despite the prospects for growth, the market faces limitations and challenging factors, such as the high initial cost of advanced power electronic systems and the complexity involved in integrating these systems into existing frameworks, which further hamper its growth in the market. Innovation in semiconductor materials that offer higher efficiency and the power to operate at higher frequencies and temperatures can contribute to the further growth of the industry. Integration of AI and IoT for smart power management systems, inductive wireless power transfer for electric vehicle charging, and advancement in battery management systems for better energy storage solutions represent potential avenues for market expansion.

KEY MARKET STATISTICS
Base Year [2023]	USD 47.87 billion
Estimated Year [2024]	USD 50.08 billion
Forecast Year [2030]	USD 70.46 billion
CAGR (%)	5.67%

Device Type: Significant adoption of discrete devices for their customization potential

Discrete power devices are individual transistors, diodes, thyristors, and other components used in power electronic applications. They are known for their ability to handle high voltages and currents and provide design flexibility as they can be used in various configurations. Diodes are fundamental semiconductor devices that allow current to flow in one direction only and are used in power electronics for rectification, over-voltage protection, and as freewheeling diodes in inverter circuits. Thyristors are solid-state semiconductor devices with four layers of alternating N and P-type material. Transistors are critical to power electronics as they provide the function of switching and amplification. ICs in power electronics integrate multiple components into a single chip that can perform complex functions. Application-specific ICs (ASICs) are designed for particular applications within power electronics. These integrated circuits are customized for specific uses, which might be in communication devices, automotive systems, or consumer electronics that require high performance and reliability. Power management ICs (PMICs) are used to manage the power requirements of the host system. They integrate multiple power controls into a single chip to improve energy efficiency and prolong battery life. Modules in power electronics incorporate multiple semiconductor devices into a single package, optimizing performance and simplifying design and manufacturing processes. Intelligent power modules (IPM) are advanced modules that integrate power devices, gate drivers, and protection features into a single product designed to improve performance and reliability. Standard and power-integrated modules are designed to achieve higher power density and are commonly used in applications ranging from traction to power supplies and converters.

Material: Gallium nitride offers high-efficiency performance in high-frequency and high-power applications

Gallium nitride is a wide-bandgap semiconductor material recognized for its high electron mobility, thermal stability, and ability to work at more elevated voltages and frequencies than silicon. This makes GaN suitable for high-efficiency, compact power converters and rapid charging solutions. This material is chosen for applications requiring high power density and efficiency, including RF communications and satellite technologies. Sapphire is an alumina-based crystal used in power electronics for its durability, high melting point, and excellent electrical insulating properties. These materials are ideal for harsh environments and applications that require a robust material that can sustain high temperatures and resist corrosion. Silicon remains one of the most crucial components of the semiconductor industry due to its well-established manufacturing ecosystem and excellent electrical properties, and it is predominant in lower-power and microelectronic applications. Silicon carbide is another wide-bandgap semiconductor material that provides superior thermal conductivity, higher temperature tolerance, and increased power efficiency compared to silicon. It is particularly advantageous in high-voltage and high-temperature applications.

Voltage: High voltage systems prioritize transmission efficiency over long distances, and high-power applications

High-voltage power electronics are critical in power transmission, industrial motors, and renewable energy systems. They are preferred in situations that demand high power efficiency and long-distance transmission. Deployments include high-voltage direct current(HVDC) power transmission systems and high-power converters for wind turbines. Low-voltage power electronics are devices that function at low voltages and are widely used in consumer electronics, automotive applications, and low-power control systems. Their preference stems from their affordability and suitability for low-power applications that require compact size and energy conservation. Medium voltage power electronics are essential in industrial drives, commercial electric vehicles, and photovoltaic inverters. These systems balance high power capacity and efficient energy use, making them suitable for industrial applications requiring high performance and energy efficiency.

Application: High demand for power electronics in the aerospace & defense sector

In the aerospace & defense sector, power electronics are integral for applications such as power generation, conversion systems, and electronic warfare. The need here emphasizes high reliability, durability in extreme conditions, and advanced thermal management solutions. The automotive industry pivots towards electric vehicles (EVs) and hybrid systems, placing power electronics at the forefront. These are used in powertrain systems, battery management, and charging infrastructure. Energy efficiency and compact design are preferred attributes. Consumer electronics include mobile devices, computers, and home appliances, where power electronics ensure user safety and energy savings and enhance product longevity. In information and communication technology (ICT), power electronics are pivotal in data centers, networking equipment, and communication devices. The focus here is on reliability, high power density, and energy efficiency. The industrial sector utilizes power electronics in motor drives, automation, power supplies, and renewable energy systems. Need-based preferences include robustness, scalability, and compatibility with various industrial environments. Electronics are vital for energy generation, transmission, and distribution within the power sector. This sector requires excellent thermal performance, high efficiency, and the ability to handle high power levels.

Regional Insights

The Americas has a significant power electronics market with a strong emphasis on technological advancements and high-quality products. The regional consumers show a growing interest in home automation and smart appliances, which drives the need for advanced power electronic solutions. The landscape is shaped by numerous governmental initiatives to promote energy efficiency and is supported by a robust investment atmosphere for technology start-ups and research endeavors. Stringent regulations regarding energy consumption and high environmental awareness among consumers characterize the European power electronics space. EU initiatives aim to make the European Union a climate-neutral region by driving innovation in green technology, including power electronics. The EU's focus on sustainability influences customer purchasing behavior towards efficient and long-lasting electronics. European countries have numerous power electronics companies engaged in high-level research and development. The Asia Pacific has a significant landscape in power electronics, largely driven by its substantial investments in renewable energy and electric vehicles (EVs). As part of its pollution reduction and energy security strategies, the government's support for EVs has catalyzed local market growth. The country's power electronics landscape is burgeoning due to the government's push for renewable energy and the rapid expansion of its industrial sector.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Power Electronics Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Power Electronics Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Power Electronics Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., BorgWarner Inc., Delta Electronics, Inc., Fuji Electric Co., Ltd., Heraeus Group, imperix power electronics, Infineon Technologies AG, Liebherr-International Deutschland GmbH, Littelfuse, Inc., Maxim Integrated Products, Inc., Microchip Technology Inc., Mitsubishi Electric Corp., Murata Manufacturing Co., Ltd., Nordic Semiconductor, NXP Semiconductor N.V, ON Semiconductor Corp., Oztek Corporation, Proterial, Ltd., Qualcomm, Inc., Renesas Electronics Corp., Semikron Danfoss Elektronik GmbH & Co. KG, STMicroelectronics N.V., Texas Instruments, Inc., Toshiba Corporation, Vincotech, Vitesco Technologies, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Power Electronics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Device Type
- Discrete
  - Diode
  - Thyristor
  - Transistors

IC
- Application Specific IC
- Power Management IC

Module
- Intelligent Power Module
- Standard and Power Integrated Module

Material
- Gallium Nitride
- Sapphire
- Silicon
- Silicon Carbide

Voltage
- High Voltage
- Low Voltage
- Medium Voltage

Current Level
- 25A to 40A
- Above 40A
- Up to 25A

Wafer Size
- 200 mm
- Above 200 mm
- Less than 200 mm

Application
- Aerospace & Defense
- Automotive
- Consumer Electronics
- Industrial
- Information & Communications Technology
- Power

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Power Electronics Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Power Electronics Market?

3. What are the technology trends and regulatory frameworks in the Power Electronics Market?

4. What is the market share of the leading vendors in the Power Electronics Market?

5. Which modes and strategic moves are suitable for entering the Power Electronics Market?

Product Code: MRR-030EE48515B4

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing use of power electronic devices in consumer electronics products and medical devices
  - 5.1.1.2. High demand for portable and battery-powered devices
  - 5.1.1.3. Increasing investments in electrification of industrial sectors
- 5.1.2. Restraints
  - 5.1.2.1. High costs associated with manufacturing power electronics
- 5.1.3. Opportunities
  - 5.1.3.1. Growing electrification of vehicles and need for RF power semiconductors for 5G industry
  - 5.1.3.2. New technological developments in power electronics
- 5.1.4. Challenges
  - 5.1.4.1. Concerns related to low overhead capacity
5.2. Market Segmentation Analysis
- 5.2.1. Device Type: Significant adoption of discrete devices for their customization potential
- 5.2.2. Material: Gallium nitride offers high-efficiency performance in high-frequency and high-power applications
- 5.2.3. Voltage: High voltage systems prioritize transmission efficiency over long distances, and high-power applications
- 5.2.4. Application: High demand for power electronics in the aerospace & defense sector
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Power Electronics Market, by Device Type

6.1. Introduction
6.2. Discrete
6.3. IC
6.4. Module

7. Power Electronics Market, by Material

7.1. Introduction
7.2. Gallium Nitride
7.3. Sapphire
7.4. Silicon
7.5. Silicon Carbide

8. Power Electronics Market, by Voltage

8.1. Introduction
8.2. High Voltage
8.3. Low Voltage
8.4. Medium Voltage

9. Power Electronics Market, by Current Level

9.1. Introduction
9.2. 25A to 40A
9.3. Above 40A
9.4. Up to 25A

10. Power Electronics Market, by Wafer Size

10.1. Introduction
10.2. 200 mm
10.3. Above 200 mm
10.4. Less than 200 mm

11. Power Electronics Market, by Application

11.1. Introduction
11.2. Aerospace & Defense
11.3. Automotive
11.4. Consumer Electronics
11.5. Industrial
11.6. Information & Communications Technology
11.7. Power

12. Americas Power Electronics Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Power Electronics Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Power Electronics Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. Market Share Analysis, 2023
15.2. FPNV Positioning Matrix, 2023
15.3. Competitive Scenario Analysis
- 15.3.1. Infineon Completes Acquisition of GaN Systems
- 15.3.2. AIXTRON Launches G10-GaN for Power Electronics Market
- 15.3.3. US-based Silicon Power to Invest More Than USD 120 Million for Semiconductor Component Plant in Odisha
15.4. Strategy Analysis & Recommendation

16. Competitive Portfolio

16.1. Key Company Profiles
16.2. Key Product Portfolio