Press release
Power Electronics Market Size Expected to Reach $52.8 Billion by 2032 | Growing at a CAGR of 5.5% from 2023 to 2032
Download Research Report Sample & TOC :
https://www.alliedmarketresearch.com/request-sample/1785
Power electronics is the branch of electronics that deals with the control and conversion of electrical power. The characteristics of silicon carbide semiconductors such as higher breakdown electric field strength and wider band gap enable their usage in power electronics; for instance, these devices play a crucial role in controlling automotive electronics such as electric power steering, hydro electric vehicles main inverter, seat control, and braking system. SiC power electronics facilitate energy conversion in generators and actuators integrated in aircraft, which significantly contributes toward the growth of the global market.
In addition, the power electronics market growth is driven by an increase in the usage of power electronics devices in a wide range of applications such as industrial motor drives, electric grid stabilization, and consumer electronics. This is attributed to the fact that their effective power control and management features for industrial operations or the functioning of electrical/electronic devices make them suitable for different industry verticals, thereby augmenting global market growth. Presently, electronics are equipped with a plethora of features to increase their sales. Thus, technological improvements in electronics such as computers, smartphones, and wireless communication & cloud systems are anticipated to provide lucrative opportunity for the market. For instance, the nano-controller plays a crucial role in managing operations with optimum power loss.
Request for Customization :
https://www.alliedmarketresearch.com/request-for-customization/1785
The power module segment was the largest revenue contributor in 2022 and is expected to grow at a CAGR of 4.3% from 2022 to 2032. This is attributed to the fact that power modules have witnessed an increase in demand over the past few years, owing to their low power consumption and light-weight design. Numerous industries adopted insulated-gate bipolar transistors (IGBT) and metal-oxide-semiconductor field-effect transistor (MOSFET) modules to operate high-voltage applications, such as welders, rolling mills, and water pumps, which further fuels the growth of the segment.
By region, the power electronics market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. The power electronics market analysis identified that Asia-Pacific contributed the maximum revenue in 2022. The power electronics market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. Factors such as increase in adoption of fuel-efficient electric vehicles and surging demand for advancement in the automotive sector that contribute to the market growth in Asia-Pacific.
In the global landscape, the power electronics market size has seen a significant upsurge, indicating a robust demand for power semiconductor devices. These devices are fundamental in enhancing the efficiency and reliability of a wide array of electronic applications. The power electronics market share is notably vast in the Asia-Pacific region, showcasing the region's substantial investment and advancement in power electronics technology. One notable component ensuring the safety and longevity of these power systems is the electrical surge protector. This vital component safeguards sophisticated electronic setups from unexpected voltage spikes, further solidifying the crucial role of power electronics in modern technology infrastructure.
Interested to Procure the Data? Inquire Here (Get Full Insights in PDF): https://www.alliedmarketresearch.com/purchase-enquiry/1785
Key findings of the study
• In 2022, by device type, the power module segment was the highest revenue contributor to the market, with $13,646.47 million in 2022, and is estimated to reach $20,750.03 million by 2032, with a CAGR of 4.3%.
• By material, the others segment was the highest revenue contributor to the market, with $9,666.19 million in 2022, and is estimated to reach $15,761.4 million by 2032, with a CAGR of 5.1%.
• By application, the others segment was the highest revenue contributor to the market, with $9,986.38 million in 2022, and is estimated to reach $16,076.6 million by 2032, with a CAGR of 4.9%.
• By end-use, the automotive segment was the highest revenue contributor to the market, with $5,863.95 million in 2022, and is estimated to reach $12,020.57 million by 2032, with a CAGR of 7.5%.
• By region, Asia-Pacific was the highest revenue contributor, accounting for $15,027.74 million in 2022, and is estimated to reach $26,899.16 million by 2032, with a CAGR of 6.0%.
The power electronics market key players profiled in the report include BB Group, Fuji Electric Co, LTD, Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corporation, Renesas Electronics Corporation, Rockwell Automation, Inc., STMicroelectronics, Texas Instruments INC., and Toshiba Corporation. The market players have adopted various strategies such as product launch, expansion, collaboration, partnership, and acquisition strategies to expand their foothold in the power electronics industry.
Report Overview:
https://www.alliedmarketresearch.com/power-electronics-market
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web:https://www.alliedmarketresearch.com
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Power Electronics Market Size Expected to Reach $52.8 Billion by 2032 | Growing at a CAGR of 5.5% from 2023 to 2032 here
News-ID: 3653794 • Views: …
More Releases from Allied Market Research
The Music Publishing Market Reach USD 13.7 Billion by 2032 Growing with 7.8% CAG …
Allied Market Research published a new report, titled, " The Music Publishing Market Reach USD 13.7 Billion by 2032 Growing with 7.8% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine…
The Online Accounting Software Market Projected to Reach USD 10.1 Billion by 203 …
According to the report published by Allied Market Research, The Online Accounting Software Market Projected to Reach USD 10.1 Billion by 2033. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
The global…
The Digital Experience Platform (DXP) Market Size Reach USD 41.7 Billion by 2032 …
Allied Market Research published a new report, titled, " The Digital Experience Platform (DXP) Market Size Reach USD 41.7 Billion by 2032, Registering with 16.1% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the…
The Employee Scheduling Software Market Reach USD 1.3 Billion by 2032 Globally G …
Allied Market Research published a new report, titled, " The Employee Scheduling Software Market Reach USD 1.3 Billion by 2032 Globally Growing with 11.5% CAGR" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry…
More Releases for CAGR
Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.…
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn.
Predictive analytics is segmented into:
Risk management:…
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s…
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more…
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012…
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population.
ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and…
