Global
Power Electronics Market Report, published by Variant Market Research, forecast
that the global market is forecasted to reach $27 billion by 2024 from $14
billion in 2016; growing at a CAGR of 8.6% from 2016 to 2024. The power
electronics market is majorly driven by the following driving factors such as need
for power management devices, high adoption n electric vehicles and enhanced
efficiency of power electronics. However, leakage of current at high
temperatures might hinder the growth of the market. Furthermore, initiatives
taken by government in smart grid HVDC would provide growth opportunities for
the market.
Browse Complete Report
@ https://www.variantmarketresearch.com/report-categories/semiconductor-electronics/power-electronics-market
Device,
type, application and geography are the key segments of the global power
electronics market. Device segment has been segmented into insulated-gate
bipolar transistor, power diodes, thyristor, metal-oxide-semiconductor
field-effect transistor, and bipolar-junction transistor. Insulated-gate
bipolar transistor is anticipated to dominate the device type segment over the
forecast period 2016-2024. Additionally, Application segment includes consumer
electronics, industrial system, inverter & UPS, energy & power and
others.
The
global power electronics market by geography is bifurcated into North America,
Europe, Asia-Pacific and RoW. Asia-Pacific held the highest market share of
54.2% in 2016, driven by improvement in power transmission and use of renewable
energy, followed by Europe. In terms of growth rate, Asia-Pacific region is
anticipated to grow at the fastest CAGR of 9.2% during the forecast period
2016-2024.
Various
strategies have been adopted by the market players to boost their geographical
presence and product portfolio. The major players in the power electronics
market include Rockwell Automation, Mitsubishi Electric Corp.,
STMicroelectronics, Toshiba Corporation, Fuji Electric Co. Ltd., Inc., Infineon
Technologies AG, Microsemi Corporation, ABB Group, Texas Instruments, Inc., and
Renesas Electronics Corporation, among others.
For
information,
contact:
VARIANT
MARKET RESEARCH LLP
USA Office:
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Mission St.,
5th
Floor, San Francisco,
CA
94105, United States.
Tel:
+1-415-680-2785
Fax:
+1-415-680-2786
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Office (Corporate Headquarter):
Office
No. FL No.7, Prakash Developers,
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Road, Pune – 411014
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+91 20 65337795
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