Power Electronics Market Trends and Forecast 2027

The study further serves as a unique research for stakeholders, product owners, and field marketing executives looking for actionable data and unique resource on Power Electronics market size, share, and growth. The market intelligence report gives business evangelists an authority to review the major trends, opportunities, and challenges expected to shape the future of the industry during the estimated period. Importantly, the study not only helps spot the major vendors but also their winning strategies. The real-time data accumulated through qualitative and quantitative research technique further help business owners determine where they stand in comparison to their region, country, and product category.

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The geographic analysis of the power electronics market has been done for North America, Europe, Asia-Pacific, the rest of the world. Asia-Pacific has dominated the power electronics market in 2019 and is expected to reach USD 24.22 billion in 2026, with the highest CAGR of 7.78%. The regions of North America and Europe are also expected to witness significant growth over the forecast period.

Autonomous vehicle market companies are 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

Regional Assessment

The global business regional analysis was conducted in four major regions including Asia Pacific, North America, Europe and the rest of the world. The European region will dominate the market for Power Electronics due to Growing demand for natural gas for generating power and heating spaces. The region needs better transport facilities for gas as the current physical pipelines have become outdated and require high maintenance and upgrade costs. Asia-Pacific is the fastest growing region, since the region's developing nations are the net importers of natural gas. China itself was the largest consumer of natural gas in 2017, with industrialization and urbanization projects expected to increase consumption. The region's emerging markets, such as Indonesia and Pakistan, are also experiencing high demand for natural gas, which brings opportunities for Power Electronics in Asia Pacific.

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Segmentation

The global Industry segmented into Power Electronics Market Size, type, component, voltage, application and region. By type the segment is further classified into skid mounted and mobile Power Electronics. By component, the segment is further classified into switchgear, bus bar, HVAC systems, transformer, frequency drives, monitoring and control systems and others. By voltage, the segment, is further classified into low voltage and medium voltage Power Electronics. Power Electronicss are used in various industries such as oil and gas, mining, transportation, and power utilities.

Key Findings

In October 2018, ABB, technology leader and manufactures robotics, power and heavy electrical equipment, won a contract of worth USD 45 million to construct a substation in Dubai which helps in boosting distribution capacity.

In April 2018, Zest WEG Group, is expanded their Power Electronicss business in Africa to meet the increase in demand from industries.

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Covid 19 Analysis

Due to a rise in phishing activities, COVID-19 has substantially increased the adoption of cloud infrastructure and services. In addition, COVID-19 has significantly increased the security budget, which has resulted in a large increase in cloud infrastructure and services. According to the findings of a study conducted by Microsoft and published in August 2020, 36% of the total 800 respondents said that the budget for cybersecurity had risen as a consequence of the pandemic outbreak. Additionally, 42 percent of those who answered the survey said that the company altered its personnel by adding more security experts.

Drivers and Restraints

The Power Electronics market is driven by numerous factors such as increasing construction FDI in the Asia Pacific region, and policy reforms and policies that support them. Governments across all regions are observed, their construction sector supported, and created. The emerging economies are the ones that put in various reforms and regulations in particular to fuel their infrastructure growth and the real estate market. Such expansion is slated to increase scaffolding's market growth. The Power Electronics market has constraints such as fluctuating prices of raw materials and slower economic growth, which hinder market development.

Table of contents:

1 EXECUTIVE SUMMARY

1.1 GLOBAL POWER ELECTRONICS MARKET, BY COMPONENT

1.2 GLOBAL POWER ELECTRONICS MARKET, BY ORGANIZATION SIZE

1.3 GLOBAL POWER ELECTRONICS MARKET, BY DEPLOYMENT

1.4 GLOBAL POWER ELECTRONICS MARKET, BY END-USERS

1.5 GLOBAL POWER ELECTRONICS MARKET, BY REGION

2 MARKET INTRODUCTIONS

2.1 DEFINITION

2.2 SCOPE OF THE STUDY

2.3 RESEARCH OBJECTIVE

2.4 MARKET STRUCTURE