Latest Research Report on Power
Electronics Market begins with a deep
introduction and then delves broad into specific segments such as raw material,
application, end user, and region, policy study, value chain structure, and
upcoming trends in particular segments or regions. The report on Power
Electronics prepare a case for investments in different regions based on a
practical view of their regulatory outline, manufacturing dynamics, and
availability of skills and resources in that region.
Power Electronics Market
Report by Material, Application, and Geography – Global Forecast to 2024 is a
professional and in-depth research report on the world’s major regional Power
Electronics Market conditions, focusing on the main regions (North America,
Europe and Asia-Pacific) and the main countries (United States, Germany, united
Kingdom, Japan, South Korea and China).
Download Free Sample
Report Now @ https://www.millioninsights.com/industry-reports/power-electronics-market-size/request-sample
Industry Insights
Power electronics market is
solid-state circuit that control electric power in efficient manner. The
emerging demand for energy-efficient, battery powered devices and use of
electronics in different industries is likely to fuel market globally over a
forecast period. In 2016, the market size of power electronics was valued at
USD 32.33 globally.
The growing trend of energy
harvesting, usage of renewable energy sources are key reasons that are
anticipated in growth of industry in coming period. The use of power
electronics in electric vehicle is also considered to be important in market
growth.
Power electronics is a
circuit that is used to control and conversion of electric power. A rectifier
is a common device that is used in many consumer electronics devices such as
computer, battery charger and television set.
At present, the power
electronics has applications in electric cars and hybrid electric vehicles to
avoid power loss. Electric trains, elevators also make use of power electronics
that has ability to regulate energy flow into unidirectional and bidirectional
depending on usage.
The rapid adoption of new
technology for efficient energy usage is major driver for power electronics
market. Aerospace & defense, consumer electronics, automobile sector are
areas where power electronics are used widely.
Government initiatives to
opt for renewable energy at all platforms, faster switching, rise in demand for
higher efficiency are other additional factors that are expected to boost the
market growth and is expected to create new opportunities.
Material Insights
The global market is
further subdivided on basis of material such as sapphire, silicon, gallium
nitride and silicon carbide. In 2016, among above the silicon accounted highest
market share and is expected to dominate over next seven years owing to the
fact that silicon is key element in power electronics and is used in almost
every circuit.
From 2017 to 2025, sapphire
segment is expected to grow at highest CAGR providing great opportunities for
manufacturer and supplier. Sapphire is used in devices such as LED lights,
smart watches and optical wafers.
There has been significant
increase in demand of consumer electronics such as smart watches, smartphone
and home appliances which will have positive impact on sapphire segment as its
applicability is increasing across different products.
Device Insights
The industry is further
segmented on the basis of devices such as integrated circuits (IC) devices,
discrete devices and modules devices. In 2016, the largest market share
belonged to discrete devices and is predicted to remain same till 2025. These
devices make use of diodes, thyristors and transistors and large adoptions of
diode, thyristors and transistors resulted in large market share.
The use of power IC’s in
radio frequency (RF), high frequency wireless communication, RADAR and
satellite communications expected to drive market. Technological advancement
has resulted in development of various power devices that has different
applications.
The segment will witness
growth due to its application in electric cars, electro electric-powered
aircrafts and Smart grid application that allow utilities control power flow.
Application Insights
ICT, automobile, consumer
electronics, industrial, aerospace & defense are functional areas where
power electronics are used widely. In 2016, the power segment dominated in
terms of market size.
Automobile sector will
witness fastest growth at CAGR of 2.8% in given period. Application in Hybrid
electric vehicles (HEV), electric cars and awareness about growing pollution in
environment will have positive impact in industry growth.
The development of various
alternatives and use of renewable energy so as to conserve natural resources
such as fossil fuels is paving the way for use of power electronics devices in
automobile sector.
Regional Insights
In 2016, the Asia Pacific
region dominated in terms of market share which was about 40% and it is
expected to continue its domination till 2025. This will create huge
opportunities in different sectors mainly automobile and ICT.
Government initiatives, low
cost and operational benefits in emerging economies like India, Singapore,
South Korea and china are attracting key players in market to set up their
manufacturing unit. The region has emerged has a promising manufacturing hub
for electronics and is boosting manufacturing activities in region. The above
factors mentioned is expected to drive market in Asia pacific region.
Competitive Insights
Some Major players in
industry are Texas Instruments, Inc., Infineon Technologies AG, Mitsubishi
Electric Corp, Qualcomm Inc. and Fuji Electric Co. The key players in developed
and developing economies practice different strategic initiatives such as new
product development, mergers and acquisitions to reach their customers and
increase their market share.
Know
More Insights @ https://newsonmarketblog.wordpress.com
No comments:
Post a Comment