Power Electronics Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025

Description

The global power electronics market is projected to grow from USD 48.91 billion in 2024 to USD 78.53 billion by 2032, advancing at a compound annual growth rate (CAGR) of 6.22%. This growth is largely driven by increasing demand for energy-efficient products in sectors such as automotive, telecommunications, renewable energy, and industrial applications. Power electronics are essential for controlling and converting electric power, playing a critical role in enhancing energy efficiency and the performance of a wide range of systems, from electric vehicles to renewable energy installations like wind turbines and solar modules.

The rising need for energy conservation, combined with the growing transition toward renewable energy sources, is fueling demand for power electronic devices. These devices are integral in managing the conversion of energy from sources like solar and wind, ensuring that they can be efficiently used in various applications. Furthermore, the increasing focus on reducing the carbon footprint is driving innovation and investment in power electronics, particularly in industries focused on clean energy solutions.

Key Insights

The material segment of the power electronics market is experiencing significant transformation. Silicon-based devices dominate the market due to their cost-effectiveness and reliability. However, the demand for higher performance is pushing the adoption of silicon carbide (SiC) and gallium nitride (GaN) semiconductors, which are gaining traction due to their superior efficiency and ability to handle higher power densities. GaN is expected to see the fastest growth as it enables faster, more energy-efficient devices, which is critical for applications in telecommunications, consumer electronics, and electric vehicles.

Power discretes, which are used in power conversion systems, account for the largest share of the market. These devices are crucial in applications such as motor drives, inverters, and industrial power grids. Modules are projected to witness the fastest growth, driven by their key role in renewable energy systems, especially in wind and solar power installations.

Geographically, the Asia-Pacific (APAC) region is expected to be the fastest-growing, driven by high industrial growth, government policies promoting energy efficiency, and significant investments in renewable energy infrastructure. The region is also a major manufacturing hub for power electronics, with key players based in countries like China, Japan, and South Korea.

However, the market faces challenges related to high device costs and technical limitations, such as the need for improved cooling methods and reliability in high-power systems. Despite these challenges, the increasing focus on energy efficiency and sustainability is expected to continue driving the demand for power electronics across multiple industries.

Product Code: 10384

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by Offering
- 1.4.2. Market size breakdown, by Material
- 1.4.3. Market size breakdown, by Voltage
- 1.4.4. Market size breakdown, by Vertical
- 1.4.5. Market size breakdown, by Application
- 1.4.6. Market size breakdown, by region
- 1.4.7. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Revenue, by Offering (2019-2030)
6.3. Market Revenue, by Material (2019-2030)
6.4. Market Revenue, by Voltage (2019-2030)
6.5. Market Revenue, by Vertical (2019-2030)
6.6. Market Revenue, by Application (2019-2030)
6.7. Market Revenue, by Region (2019-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Revenue, by Offering (2019-2030)
7.3. Market Revenue, by Material (2019-2030)
7.4. Market Revenue, by Voltage (2019-2030)
7.5. Market Revenue, by Vertical (2019-2030)
7.6. Market Revenue, by Application (2019-2030)
7.7. Market Revenue, by Country (2019-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Revenue, by Offering (2019-2030)
8.3. Market Revenue, by Material (2019-2030)
8.4. Market Revenue, by Voltage (2019-2030)
8.5. Market Revenue, by Vertical (2019-2030)
8.6. Market Revenue, by Application (2019-2030)
8.7. Market Revenue, by Country (2019-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Revenue, by Offering (2019-2030)
9.3. Market Revenue, by Material (2019-2030)
9.4. Market Revenue, by Voltage (2019-2030)
9.5. Market Revenue, by Vertical (2019-2030)
9.6. Market Revenue, by Application (2019-2030)
9.7. Market Revenue, by Country (2019-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Revenue, by Offering (2019-2030)
10.3. Market Revenue, by Material (2019-2030)
10.4. Market Revenue, by Voltage (2019-2030)
10.5. Market Revenue, by Vertical (2019-2030)
10.6. Market Revenue, by Application (2019-2030)
10.7. Market Revenue, by Country (2019-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Revenue, by Offering (2019-2030)
11.3. Market Revenue, by Material (2019-2030)
11.4. Market Revenue, by Voltage (2019-2030)
11.5. Market Revenue, by Vertical (2019-2030)
11.6. Market Revenue, by Application (2019-2030)
11.7. Market Revenue, by Country (2019-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Revenue, by Offering (2019-2030)
12.3. Market Revenue, by Material (2019-2030)
12.4. Market Revenue, by Voltage (2019-2030)
12.5. Market Revenue, by Vertical (2019-2030)
12.6. Market Revenue, by Application (2019-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Revenue, by Offering (2019-2030)
13.3. Market Revenue, by Material (2019-2030)
13.4. Market Revenue, by Voltage (2019-2030)
13.5. Market Revenue, by Vertical (2019-2030)
13.6. Market Revenue, by Application (2019-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Revenue, by Offering (2019-2030)
14.3. Market Revenue, by Material (2019-2030)
14.4. Market Revenue, by Voltage (2019-2030)
14.5. Market Revenue, by Vertical (2019-2030)
14.6. Market Revenue, by Application (2019-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Revenue, by Offering (2019-2030)
15.3. Market Revenue, by Material (2019-2030)
15.4. Market Revenue, by Voltage (2019-2030)
15.5. Market Revenue, by Vertical (2019-2030)
15.6. Market Revenue, by Application (2019-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Revenue, by Offering (2019-2030)
16.3. Market Revenue, by Material (2019-2030)
16.4. Market Revenue, by Voltage (2019-2030)
16.5. Market Revenue, by Vertical (2019-2030)
16.6. Market Revenue, by Application (2019-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Revenue, by Offering (2019-2030)
17.3. Market Revenue, by Material (2019-2030)
17.4. Market Revenue, by Voltage (2019-2030)
17.5. Market Revenue, by Vertical (2019-2030)
17.6. Market Revenue, by Application (2019-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Revenue, by Offering (2019-2030)
18.3. Market Revenue, by Material (2019-2030)
18.4. Market Revenue, by Voltage (2019-2030)
18.5. Market Revenue, by Vertical (2019-2030)
18.6. Market Revenue, by Application (2019-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Revenue, by Offering (2019-2030)
19.3. Market Revenue, by Material (2019-2030)
19.4. Market Revenue, by Voltage (2019-2030)
19.5. Market Revenue, by Vertical (2019-2030)
19.6. Market Revenue, by Application (2019-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Revenue, by Offering (2019-2030)
20.3. Market Revenue, by Material (2019-2030)
20.4. Market Revenue, by Voltage (2019-2030)
20.5. Market Revenue, by Vertical (2019-2030)
20.6. Market Revenue, by Application (2019-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Revenue, by Offering (2019-2030)
21.3. Market Revenue, by Material (2019-2030)
21.4. Market Revenue, by Voltage (2019-2030)
21.5. Market Revenue, by Vertical (2019-2030)
21.6. Market Revenue, by Application (2019-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Revenue, by Offering (2019-2030)
22.3. Market Revenue, by Material (2019-2030)
22.4. Market Revenue, by Voltage (2019-2030)
22.5. Market Revenue, by Vertical (2019-2030)
22.6. Market Revenue, by Application (2019-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Revenue, by Offering (2019-2030)
23.3. Market Revenue, by Material (2019-2030)
23.4. Market Revenue, by Voltage (2019-2030)
23.5. Market Revenue, by Vertical (2019-2030)
23.6. Market Revenue, by Application (2019-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Revenue, by Offering (2019-2030)
24.3. Market Revenue, by Material (2019-2030)
24.4. Market Revenue, by Voltage (2019-2030)
24.5. Market Revenue, by Vertical (2019-2030)
24.6. Market Revenue, by Application (2019-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Revenue, by Offering (2019-2030)
25.3. Market Revenue, by Material (2019-2030)
25.4. Market Revenue, by Voltage (2019-2030)
25.5. Market Revenue, by Vertical (2019-2030)
25.6. Market Revenue, by Application (2019-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Revenue, by Offering (2019-2030)
26.3. Market Revenue, by Material (2019-2030)
26.4. Market Revenue, by Voltage (2019-2030)
26.5. Market Revenue, by Vertical (2019-2030)
26.6. Market Revenue, by Application (2019-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Revenue, by Offering (2019-2030)
27.3. Market Revenue, by Material (2019-2030)
27.4. Market Revenue, by Voltage (2019-2030)
27.5. Market Revenue, by Vertical (2019-2030)
27.6. Market Revenue, by Application (2019-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Revenue, by Offering (2019-2030)
28.3. Market Revenue, by Material (2019-2030)
28.4. Market Revenue, by Voltage (2019-2030)
28.5. Market Revenue, by Vertical (2019-2030)
28.6. Market Revenue, by Application (2019-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. Infineon Technologies AG
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. Onsemi
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. NXP Semiconductors N.V.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. Texas Instruments Incorporated
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. Toshiba Corporation
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. ABB Ltd.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports

Power Electronics Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025 - 2032)