Power Electronics Market Size Worth US$ 42.0 Billion by 2028
IMARC Group, a prominent research firm, has just published a study titled "Global Power Electronics Market: Insights into Industry Trends, Market Share, Size, Growth Prospects, and Projected Forecasts for 2023-2028". This comprehensive report offers an in-depth analysis of the power electronics industry, encompassing crucial aspects such as market size, market share, emerging trends, and future growth prospects. Furthermore, the report encompasses competitor analysis, regional analysis, and showcases the latest innovations and advancements in this dynamic market.
What is the size of the power electronics industry?
In 2022, the size of the global power electronics market was US$ 29.5 Billion. Going ahead, the market is projected to achieve a size of US$ 42.0 Billion by 2028, with a growth rate (CAGR) of 6.32% during the period of 2023-2028, according to IMARC Group's predictions.
What do power electronics entail?
The field of power electronics is a branch of electrical engineering that focuses on the study, examination, and creation of circuits made from solid-state components. These circuits use a variety of switches, such as metal-oxide-semiconductor field-effect transistors (MOSFET) and insulated-gate bipolar transistors (IGBT), as well as inductors and capacitors, to efficiently convert and control the flow of electricity. Power electronics play a crucial role in managing energy and conserving power in consumer electronics, providing dependable performance and requiring minimal upkeep. Because of these advantages, power electronics are widely used in a range of devices, including televisions, battery chargers, and personal computers.
Please ask for a complimentary copy of this report: https://www.imarcgroup.com/power-electronics-market/requestsample
What are the future possibilities and patterns in the power electronics sector?
The main factor fueling the power electronics market is the extensive use of these products in the automotive industry to manufacture various parts of modern vehicles. These components include windshield wiper control, adaptive front lighting, electric power steering, and the ignition switch. Additionally, there is a growing demand for high-tech and luxurious cars that come equipped with advanced infotainment systems. This trend is supported by increasing environmental concerns and the rising costs of traditional energy solutions. To address these issues, governments in different countries are taking initiatives to promote the use of electric vehicles (EVs) and plug-in hybrid vehicles (HVs), which is further driving the growth of the power electronics market.
What does market segmentation involve?
The study has divided the market into the subsequent classifications:
Discrete power diodes, transistorized power devices, thyristor power units, smart power modules, integrated power modules, power integrated circuits (ICs), power management ICs, and application-specific integrated circuits (ASICs).
Silicon, sapphire, silicon carbide, gallium nitride, and various other materials.
Energy management Uninterruptible Power Supply Sustainable alternatives
Inadequate Electric Current Moderate Electric Current Intense Electric Current
The division of demand based on the industry in which the product is used:
Automotive Military and Aerospace Energy and Power IT and Telecommunication Consumer Electronics Other fields
North America: (USA, Canada) Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Additional countries) Europe: (Germany, France, UK, Italy, Spain, Russia, Additional countries) Latin America: (Brazil, Mexico, Additional countries) Middle East and Africa
Who are the major participants operating within the field?
The article includes information about the key competitors in the market, such as:
Abbreviated as ABB Ltd., Analog Devices Inc., Fuji Electric Co. Ltd., Infineon Technologies AG, Microchip Technology Inc., Mitsubishi Electric Corporation, NXP Semiconductors N.V., Renesas Electronics Corporation, ROHM Co. Ltd., STMicroelectronics, Texas Instruments Incorporated, and Toshiba Corporation are all prominent companies in the field of electronics. Another significant player is Vishay Intertechnology Inc.
Inquire from the analyst and explore the complete report along with the table of contents and list of figures at the following link: https://www.imarcgroup.com/request?type=report&id=4594&flag=C
If there is any particular information you need that is not currently included in the report, we will happily provide it to you as part of the customization process.
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IMARC Group is a prominent market research firm that provides global consulting in the areas of business strategy and market analysis. We collaborate with clients across various industries and geographies to discover their most lucrative prospects, tackle their most pressing issues, and revolutionize their enterprises.
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