Global power electronics market estimated to reach over US $17 billion by 2019, says Technavio

Renewable energy


The industry research report outlines the key factors impacting market shares for the end-user application areas of the global power electronics market (commercial sector, industrial sector, consumer electronics, and transportation). It includes the segmentation analysis by device type (power discrete, power modules, power IC) and the market size and market forecast by leading regions (APAC, Americas, and the EMEA), until 2019. The report includes leading vendor analysis on Fairchild, Infineon, Mitsubishi, STMicroelectronics, and Toshiba.

Technavio’s market research analysts estimate the global power electronics market to grow at a CAGR of around 7% between 2015 and 2019. The growth of this market can be attributed to the augmented demand for power electronics from the information and communications technology (ICT), power, aerospace and defense, automotive, industrial, medical, and transportation segments. The APAC dominates the global market for power electronics, occupying around 44% of the total market share. Much of this region’s growth comes from the high demand for power and infrastructure coupled with rapid economic developments.

The new market research report from Technavio provides a breakdown and analysis of the power electronics segments by technology.

“The market vendors are offering power electronic devices with diverse applications, primarily focusing on energy conservation. Several vendors have increased the power density which has increased the power efficiency of the devices. This helps end-users to conserve energy over a long period.     Rising costs of fossil fuels and depletion of energy resources have augmented the usage of power electronic devices in the recent years,” says Navin Rajendtra, Lead Analyst, Hardware & Semiconductor, Technavio Research.

The commercial sector is the dominant end-users of the power electronic devices, covering around 25% of the overall market share. Increased usage of power electronic devices in small autonomous devices for commercial applications has led to this sector’s growth. Moreover, with rising implementation of data centers and other electronic equipment in the commercial organizations, the demand for high power density products will increase over the next four years.

Global power electronics market by end-users 2019

Source: Technavio Research

The key vendors in the global power electronics market include Fairchild Semiconductor, Infineon Technologies, Mitsubishi Electric, STMicroelectronics and Toshiba. The leading market vendors are keen to leverage expanding applications of power electronic across various sectors, and especially in the automobile sector. The evolution of electric vehicles (EVs) and heavy electric vehicles (HEVs) is driving the demand for power electronic devices in this sector.

A more detailed analysis is available in the Technavio report, Global Power Electronics Market 2015-2019.

We can customize reports by other regions and specific segments upon request.

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