Power Electronics Market 2021: Technology, Application, Types, End-User, Geography, Competitive Analysis and the Impact of Covid-19 with Analysis 2021-2030

In a recent published report, Kenneth Research has updated the market report for Power Electronics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Power Electronics Market products.

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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

Global Power Electronics Market is estimated to reach $27 Billion by 2024; growing at a CAGR of 8.6% from 2016 to 2024. Power electronics is a device used to control the transformation of electric power from one form to another using diodes, transistors, and thyristors. It transfers power from a source to a load in an efficient and robust manner to ensure convenient utilization. Adoption of power electronics have increased in electric vehicles and renewable energy plant systems driven by its competency to improve switching speed and avoid power loss. Increasing demand for electric vehicles and glorified need for high voltage operating devices have led to an increased demand for power electronics across various industries such as automotive, energy & power, and consumer electronics.

The global power electronics market is majorly driven by rise in adoption of power electronics in electric vehicles, enhanced efficiency & improved durability of power electronics and aggrandized need for power management devices. However, current leakage at high temperature would act as a restraint for the market. Government initiatives in smart grid and HVDC are expected to generate new business opportunities for the market in the coming years.

Key segments of the power electronics market are type, device, application, and geography. Type segment includes power module, power discrete, and power IC. Device segment is segregated into power diodes, thyristor, insulated-gate bipolar transistor, bipolar-junction transistor, and metal-oxide-semiconductor field-effect transistor. Industrial system, energy & power, inverter & UPS, consumer electronics are the major applications of power electronics market.

Based on geography, the global power electronics market has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers UK, France, Germany, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the World (RoW) covers South America, Middle East and Africa.

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Major players in the power electronics market are Toshiba Corporation, Infineon Technologies AG, ABB Group, Fuji Electric Co. Ltd., Mitsubishi Electric Corp., Rockwell Automation, Inc., Texas Instruments, Inc., Microsemi Corporation, STMicroelectronics, and Renesas Electronics Corporation, among others.

The key takeaways from the report:
The report will provide detailed analysis of the Power Electronics Market with respect to major segments such as type, device, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities of the Power Electronics Market. An exhaustive regional analysis of the Power Electronics Market from 2015 to 2024 has been included in the report.

Profile of the key players in the Power Electronics Market, will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Power Electronics Market
Type Segments
Power Module
Power IC
Power Discrete
Device Segments
Power Diodes
Bipolar-Junction Transistor
Thyristor
Insulated-Gate Bipolar Transistor
Metal-Oxide-Semiconductor Field-Effect Transistor

Application Segments
Industrial System
Energy & Power
Inverter & UPS
Consumer Electronics
Others

Geographical Segments
North America
US
Canada
Mexico
Europe
UK
Germany
France
Others

Asia-Pacific
India
China
Japan
South Korea
Others
RoW
South America
Middle East
Africa

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About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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