Power Electronics Industry Size
The Power Electronics market dynamics, forces, companies and trends have been determined after conducting a detailed study of the industry for this newly released research report now available with Market Study Report.
The high demand for alternative energy systems such as solar, wind, and geothermal over conventional power sources will drive the power electronics market. This is largely due to the increase in pollution rates that is resulting in reduced life expectancies and physical ailments among the general population. Global power electronics market is set to exceed USD 45 billion by 2024, according to this new research report. The high growth of industrialization in the Asia Pacific is causing cities such as Rawalpindi, Kolkata, Delhi, and Beijing to experience an increase in air pollution rates. To combat this situation, governments across the world are initiating stringent regulations restricting the emission of particulate matter above a certain specified range, aiding power electronics market growth. For instance, the SO2 emissions impacting the cement industries range from 50mg/cubic Nm in Germany to 400mg/cubic Nm in Egypt.
Governments are also pushing the provision of grants and VAT exemptions for electric vehicle owners to increase the adoption and decrease the total cost of ownership. For instance, the UK government offers consumers financial incentives in the form of grants and subsidies upwards of USD 5,944 for these vehicles. Also, ownership cost of fully-electric vehicles is reduced with owners of vehicles that cost less than USD 52,844 to be exempted from paying annual road taxes. The presence of such initiatives and plans is anticipated to drive the power electronics market.
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The rising demand for data centers and wireless technologies is fueling the growth of the ICT segment of the power electronics market. For instance, in data centers, cooling of the system consumes approximately 40% of the total electricity. By applying variable speed drives to pumps and air conditioning units, the speed of the systems can be adjusted to match the amount of cooling that is required providing massive energy and cost savings.
The economic boom in the Asia Pacific countries is contributing to the high growth of the power electronics market. The middle-class population is now able to purchase a larger amount of luxury goods and household systems. Furthermore, in industrial and manufacturing settings, these systems are essential components to combat issues pertaining to power losses and current fluctuations through the usage of power regulators, UPS, and inverters.
Players operating in the global power electronics market include Semikron Electronics GmbH & Co., Inc., Renesas Electronics Corporation, Texas Instruments Incorporated, ON Semiconductor, NXP Semiconductor N.V., Methode Electronics, Inc., Microsemi Corporation, and Maxim Integrated Products, Inc. Product innovations are commonplace among industry participants. For instance, in May 2017, Fuji Electric Co. Ltd. announced the launch of a High Voltage Contactor that has the capability of delivering very high current overload capacity for reliable vehicle operation.
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Power electronics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:
Power Electronics Market, By Product
Power Electronics Market, By Application
Aerospace & defense
Table of Content:
Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definition and forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Power electronics industry 360 degree synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Product trends
2.1.4. Application trends
Chapter 3. Power Electronics Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Vendor matrix
3.4. Technology innovation landscape
3.4.1. Miniaturization of power engineering electronics modules
3.4.2. Adoption of Silicon Carbide (SiC) materials
3.4.3. Embedding capacitors in IGBT modules
3.4.4. Module-level power electronics (MLPE) in solar module optimization
3.4.5. Radio-frequency power components
3.5. Regulatory landscape
3.5.1. CENELEC – EN 62477-1
3.5.2. Australian standards for Uninterruptible power systems (UPS)
3.5.3. Safety standards for portable inverters
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