DUBLIN--(BUSINESS WIRE)--The "Power Electronics Market by Material, Device Type (Discrete, Module, and IC), Application, Vertical (ICT, Consumer Electronics, Energy and Power, Industrial, Automotive, and Aerospace & Defense), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The power electronics market is expected to grow from USD 39.03 billion in 2018 to USD 51.01 billion by 2023, at a CAGR of 5.5% between 2018 and 2023.
Growing demand for energy-efficient battery-powered portable devices and upgrade of power infrastructure are the major drivers for the power electronics market growth, while complex design and integration process for advanced technological devices restrain the growth of the power electronics market.
This growth is attributed to the increasing use of power devices in automotive and industrial verticals. The market for power discrete in transportation applications is showing significant growth, as the production of hybrid and electric vehicles is growing at a high pace. Moreover, to reduce power consumption, power discrete devices are used in majority of the verticals such as energy & power, ICT, consumer electronics, automotive, industrial, and others.
The advent of electric vehicles (EVs) is one of the most important steps of environment conservation. These vehicles do not use any fuel and, thus, do not emit harmful gases. This factor has accelerated the growth of the electric vehicles market. As these vehicles completely rely on electrical power supply, the use of electronic devices is more in these vehicles. These devices are poised to have a greater impact on the power electronics market in the coming years.
Companies Mentioned
- ABB
- Analog Devices
- Danfoss
- Fuji Electric
- Hitachi
- Infineon Technologies
- Littelfuse
- Maxim Integrated Products
- Microchip Technology
- Microsemi Corporation
- Mitsubishi Electric
- NXP Semiconductors
- On Semiconductor
- ROHM Semiconductor
- Renesas Electronics
- STMicroelectronics
- Semikron
- Texas Instruments
- Toshiba
- Vishay Intertechnology
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Power Electronics Market, By Material
7 Power Electronics Market, By Device Type
8 Power Electronics Market, By Application
9 Power Electronics Market, By Vertical
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/7xb7rg/global_power?w=4
