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Power Electronics Market

P&S Market Research-Power Electronics Market report

Global Power Electronics Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Device (Power Discrete, Power Modules, Power IC), by End-User (Consumer Electronics, Automotive, Industrial, Power & Energy, ICT, Aerospace & Defense, Others), By Voltage (Low Voltage, Medium Voltage, High Voltage, Very High Voltage)

Publishing : February 2017
Report Code: SE10384
Available Format: pdf

The global power electronics market is expected to grow at a moderate CAGR during 2016 – 2022. Among the various power electronic devices, power modules generated highest revenue in 2015, whereas consumer electronics was the most profitable end-user in 2015.

The increasing requirement for higher power densities across several industries is one of the key drivers for the global power electronics market. Power density is a prime factor in the power electronics industry, particularly in high-power applications. For instance, power electronic devices in electric rail traction drives, wind power generators, inverter systems, and solar power generators use power electronic devices to increase their operational efficiency. Vendors in the market are investing in R&D to develop devices that work at a higher power density levels. Power electronic devices have several advantages, such as less driving power, simplified circuits, and optimum forward and reverse blocking capabilities, which can enable them to work in higher power densities. Furthermore, compact power electronics device designs are the ideal choice for usage in high power densities. Thus, the escalation in demand for higher power density in numerous high-power applications is one of the drivers of the global power electronics market.

Power electronic devices ensure effective delivery of power, providing high reliability, security, and flexibility to the power system. Power electronic devices play a key role in the conversion of the existing electrical grids to next-generation networks. At present, approximately 30% of all power generation is carried out using power electronic devices, either at the point of power generation or at the final consumption of electricity. It is expected that by 2030, up to 80% of the electricity produced will use power electronic devices. The high level of integration of power electronic devices with electricity grids, increase in demand for network reliability, government focus on reduction of environmental pollution and energy savings is further expected to drive the market during the forecast period.

The adoption of power electronic devices in the renewable energy sector is creating new growth avenues for the global power electronics market. The global need to generate electrical energy from renewable energy sources is escalating rapidly. It is projected that global energy consumption will increase by over 60% by 2030, which is expected to boost the adoption of power electronics in renewable technologies such as those for solar and wind power. These devices are used in wind turbine converters, grid converters, and inverters in solar panels to increase power efficiency and switching speed. Thus, the growing need for improved thermal capacity and power cycling capacity is also playing a substantial role and thus increasing the implementation of power electronics in the renewable energy sector.

In recent years, the power electronic companies have been increasingly spending a considerable amount of their revenue on R&D to stay ahead of their competitors and gain a larger market share. For power electronics device manufacturers, R&D is crucial because superior innovations can provide competitive advantages over other players. In addition, a key buying criterion for customers is efficiency, which can be achieved and improved through R&D. Owing to these factors, the trend of high R&D expenditures in the global power electronics market is expected to continue during the forecast period.

Some of the major companies operating in the global power electronics market include NXP Semiconductors N.V., Infineon Technologies AG, STMicroelectronics N.V., ON Semiconductor, Vishay Intertechnology Inc., Microsemi Corporation, Toshiba Corporation, and Texas Instruments Inc.    

Chapter 1. Research Scope and Methodology

1.1 Market Definition

1.2 Market Scope

1.2.1 Global power electronics market breakdown, by device

1.2.2 Global power electronics market breakdown, by end-user

1.2.3 Global power electronics market breakdown, by voltage

1.2.4 Global power electronics market breakdown, by region

1.3 Research Methodology and Sources

Chapter 2. Executive Summary

2.1 Key Findings

2.2 Research Summary

2.3 Market Snapshot

Chapter 3. Market Outlook

3.1 Introduction

3.2 Trends in the Global Power Electronics Market

3.2.1 High investments in R&D

3.2.2 Increasing applications across sectors

3.2.3 Increasing need for energy conservation

3.3 Opportunities in the global power electronics market

3.3.1 Adoption of power electronic devices in renewable energy sector

3.4 Factors Driving the Growth of Market and its Impact on Market Forecast

3.4.1 Increasing requirement for higher power density

3.4.2 Increased penetration of power electronic devices in utility applications

3.4.3 Impact analysis of drivers on market forecast

3.5 Factors Hindering the Growth of Market and its Impact on Market Forecast

3.5.1 High cost power electronic devices

3.5.2 Uncertain global economic conditions

3.5.3 Poor reliability and slow cooling

3.5.4 Impact analysis of restraints on market forecast

Chapter 4. Global Power Electronics Market Size and Forecast (2012 – 2022)

4.1 Global Power Electronics Market, by Device

4.1.1 Power discrete

4.1.2 Power modules

4.1.3 Power IC

4.2 Global Power Electronics Market, by End User

4.2.1 Consumer electronics

4.2.2 Automotive

4.2.3 Industrial

4.2.4 Power & energy

4.2.5 Information and communications technology (ICT)

4.2.6 Aerospace & defense

4.2.7 Others

4.3 Global Power Electronics Market, by Voltage

4.3.1 Low voltage (400V – 1.1kV)

4.3.2 Medium voltage (1.2KV - 1.9kV)

4.3.3 High voltage (2KV - 3.3KV)

4.3.4 Very high voltage (> 3.3KV)

4.4 Global Power electronics market, by region

Chapter 5. Global Power Electronics Market, by Power Devices

5.1 Global Power Discrete Market

5.1.1 Global power discrete market, by technology

5.1.2 Global power discrete market, by application

5.2 Global Power Module Market

5.2.1 Global power module market, by technology

5.2.2 Global power module market, by application

5.3 Global Power IC Market

5.3.1 Global power IC market, by technology

5.3.2 Global power module market, by application

Chapter 6. Global Power Electronics Market, by Region

6.1 Asia Pacific Power Electronics Market

6.1.1 Asia Pacific power electronics market, by country

6.2 Europe Power Electronics Market

6.2.1 Europe power electronics market, by country

6.3 North America Power Electronics Market

6.3.1 North America power electronics market, by country

6.4 Rest of the World Power Electronics Market

6.4.1 RoW power electronics market, by country

Chapter 7. Global Next Generation Power Electronics Market

7.1 Global Next Generation Power Electronics Market, by Power Device

7.1.1 Global SiC power device market

7.1.1.1 Global SiC power device market, by voltage

7.1.1.2 Global SiC power device market, by application

7.1.2 Global GaN power device market

7.1.2.1 Global GaN power device market, by voltage

7.1.2.2 Global GaN power device market, by application

7.2 Global wafer materials market analysis

Chapter 8. Competitive Analysis

8.1 Porter's Five Forces of Competitive Position Analysis

8.1.1 Bargaining power of buyers

8.1.2 Bargaining power of suppliers

8.1.3 Threat of new entrants

8.1.4 Intensity of rivalry

8.1.5 Threat of substitutes

8.2 Competitive Positioning in the Global Power Electronics Market, by Device

Chapter 9. Company Profiles and Strategic Developments

9.1 Key Company Profiles

9.1.1 NXP Semiconductors N.V.

9.1.1.1 Business overview

9.1.1.2 Product and service offerings

9.1.2 Infineon Technologies AG

9.1.2.1 Business overview

9.1.2.2 Product and service offerings

9.1.3 STMicroelectronics N.V.

9.1.3.1 Business overview

9.1.3.2 Product and service offerings

9.1.4 ON Semiconductor

9.1.4.1 Business overview

9.1.4.2 Product and service offerings

9.1.5 Vishay Intertechnology Inc.

9.1.5.1 Business overview

9.1.5.2 Product and service offerings

9.1.6 Microsemi Corporation

9.1.6.1 Business overview

9.1.6.2 Product and service offerings

9.1.7 Toshiba Corporation

9.1.7.1 Business overview

9.1.7.2 Product and service offerings

9.1.8 Texas Instruments Inc.

9.1.8.1 Business overview

9.1.8.2 Product and service offerings

9.1.9 ABB Ltd.

9.1.9.1 Business overview

9.1.9.2 Product and service offerings

9.2 Strategic Developments in the Power Electronics Market

Chapter 10. Appendix

10.1 List of Abbreviations

The research offers actual historical market size of the global power electronics market for the period 2012 – 2015 and market forecast for the period 2016 - 2022 in US dollars. The market size breakdown is as follows:

Global Power Electronics Market

The markets of power discrete, power module and power IC is further broken down in terms of technology and application. The breakdown is as follows:

  • By Device – Power Discrete, Power Module and Power IC
    • Power Discrete
      • By Technology - Medium and High Voltage MOSFET, Low Voltage MOSFET, Rectifiers/Diodes, IGBT Modules, BJTs, Thyristor and IGBT Chips
      • By Application - IT and Electronics, Building and Industrial, Transportation and Renewable Energy     
    • Power Module
      • By Technology - IGBT Modules, FET Modules, SiC Modules, GaN Modules and Others
      • By Application - EV/HEV, PV, Motors, Rail, UPS, Wind, and Electric/Hybrid Bus     
    • Power IC
      • By Technology - Non-Isolated DC-DC, Controller/Supervisor, Portable Switch Mode, Battery Charger/Monitor, AC-DC Switching, High Current Linear and Low Voltage LDOs Regulators
      • By Application – Consumer, Industrial, Computing and Communication      
  • By End-User –  Consumer Electronics, Automotive, Industrial, Power & Energy, ICT, Aerospace & Defense, and Others
  • By Voltage – Low Voltage (400V - 1.1kV), Medium Voltage (1.2kV - 1.9kV), High Voltage (2KV - 3.3kV), Very High Voltage (> 3.3kV)
  • By Geography – North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Global Next-Generation Power Electronics Market

The markets of SiC and GaN based power electronics is further broken down in terms of voltage and application. The breakdown is as follows:

  • By Power Device – SiC and GaN
    • SiC
      • By Voltage – 2.5 – over 6.5 kV, 1.2 – 1.7 kV and <1.2 kV
      • By Application - PV inverter, PFC, EV/HEV Inverter, Rail Traction, Wind Turbine, Grid, Motor Control, UPS and Others
    • GaN
      • By Voltage – Over 1.7 kV, 1.2kV, 600V and 200V
      • By Application - PV inverter, PFC, EV/PHEV Charger, Motor Control, UPS, EV/HEV Inverter, Rail Traction, PV Micro inverter, Wind Turbineand Others

Global Power Electronics Market, by Geography
North America Power Electronics Market

  • By Country – U.S., and Rest of North America

Europe Power Electronics Market

  • By Country – Germany, France, Italy, U.K., Spain, and Rest of Europe

Asia-Pacific Power Electronics Market

  • By Country – China, Japan, India and Rest of Asia-Pacific

Rest of the World (RoW) Power Electronics Market

  • By Country – U.A.E., South Africa and Rest of RoW

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