Global Power Electronics Market is valued approximately USD 33.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.7 % over the forecast period 2020-2027. Power electronics is solid-state circuitry devices, used to alter and control electrical energy from the source to the load in an appropriate and effective way. Power electronics improves energy conservation in a variety of applications such as consumer electronics, automotive, electric automobiles, and industrial systems. Power electronics has various benefits such as simplified circuits, and optimum forward and reverse blocking capabilities. The global Power Electronics market is facing challenges due to the coronavirus pandemic as implementation of several regulations by the governments of various countries to deal with coronavirus. For example, complete shutdown of manufacturing facilities, limited production with limited manpower and others will impact the power electronic market. The increasing focus on the use of renewable power sources across the globe, growing adoption of power electronics in the manufacturing of electric vehicles and increasing applications of power electronics in consumer electronics are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market. For instance: in April 2020, ON Semiconductor introduced industrial motor, thus expanding its product portfolio with NXH25C120L2C2, NXH35C120L2C2/2C2E, and NXH50C120L2C2E, which are 25, 35, and 50 Ampere versions of Transfer-Molded Power Integrated Modules (TM-PIM) for 1200 Volt (V) applications. However, complex design and integration process are the major factors restraining the growth of global Power Electronics market during the forecast period.

The regional analysis of global Power Electronics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world owing to the rapid development of consumer electronics products, which drives power IC market. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report are:
Infineon Technologies
ON Semiconductor
STMicroelectronics
Mitsubishi Electric
Vishay Intertechnology
Fuji Electric
NXP Semiconductors
Renesas Electronics
Texas Instruments
Toshiba

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Device Type:
Power Discrete
Power Module
Power IC

By Material:
Silicon (Si)
Silicon Carbide (SiC)
Gallium Nitride (GaN)

By Voltage:
Low Voltage
Medium Voltage
High Voltage

By Vertical:
ICT
Consumer Electronics
Industrial
Automotive & Transportation
Aerospace & Defense
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027

Target Audience of the Global Power Electronics Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors